GRACOBUILD: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
GRACOBUILD
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+125.1%), from €878,947 to €2.0m
of which Land and buildings: +€796,606
- Financial fixed assets +€44,125
up €44,125 (+27.2%), from €162,500 to €206,625
- Revaluation surpluses +€820,700
new in 2025: €820,700
- Other debts +€295,000
up €295,000 (+140.5%), from €210,000 to €505,000
- Reserves +€35,521
up €35,521 (+4.2%), from €848,095 to €883,616
of which Distributable reserves: +€40,209
- Financial income -€19,777
down €19,777 (-30.7%), from €64,470 to €44,693
of which Non-recurring financial income: -€20,250
- Gross operating margin -€4,215
down €4,215 (-16.4%), from €25,701 to €21,486
- Financial charges -€534
down €534 (-32.6%), from €1,640 to €1,106
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,272,729 | €2,401,453 | +€1.1m | +88.7% |
| Fixed assets | 21/28 | €1,041,447 | €2,185,127 | +€1.1m | +109.8% |
| Tangible fixed assets | 22/27 | €878,947 | €1,978,502 | +€1.1m | +125.1% |
| Land and buildings | 22 | €878,947 | €1,675,553 | +€796,606 | +90.6% |
| Other tangible fixed assets | 26 | - | €302,949 | +€302,949 | |
| Financial fixed assets | 28 | €162,500 | €206,625 | +€44,125 | +27.2% |
| Current assets | 29/58 | €231,282 | €216,326 | -€14,956 | -6.5% |
| Amounts receivable within one year | 40/41 | €61,737 | €53,828 | -€7,909 | -12.8% |
| Trade receivables | 40 | €1,200 | €2,000 | +€800 | +66.7% |
| Other amounts receivable | 41 | €60,537 | €51,828 | -€8,709 | -14.4% |
| Cash at bank and in hand | 54/58 | €169,545 | €162,498 | -€7,047 | -4.2% |
| Total equity and liabilities | 10/49 | €1,272,729 | €2,401,453 | +€1.1m | +88.7% |
| Equity | 10/15 | €867,453 | €1,723,674 | +€856,221 | +98.7% |
| Contributions | 10/11 | €19,358 | €19,358 | = | 0.0% |
| Revaluation surpluses | 12 | - | €820,700 | +€820,700 | |
| Reserves | 13 | €848,095 | €883,616 | +€35,521 | +4.2% |
| Non-distributable reserves | 130/1 | €15,914 | €15,914 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €14,054 | €14,054 | = | 0.0% |
| Tax-exempt reserves | 132 | €256,141 | €251,453 | -€4,688 | -1.8% |
| Distributable reserves | 133 | €576,040 | €616,249 | +€40,209 | +7.0% |
| Provisions and deferred taxes | 16 | €125,675 | €123,706 | -€1,969 | -1.6% |
| Deferred taxes | 168 | €125,675 | €123,706 | -€1,969 | -1.6% |
| Amounts payable | 17/49 | €279,601 | €554,073 | +€274,472 | +98.2% |
| Amounts payable after more than one year | 17 | €20,833 | €8,333 | -€12,500 | -60.0% |
| Financial debts | 170/4 | €20,833 | €8,333 | -€12,500 | -60.0% |
| Amounts payable within one year | 42/48 | €227,965 | €527,912 | +€299,947 | +131.6% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | €12,500 | = | 0.0% |
| Trade debts | 44 | €5,465 | €10,412 | +€4,947 | +90.5% |
| Suppliers | 440/4 | €5,465 | €10,412 | +€4,947 | +90.5% |
| Other amounts payable | 47/48 | €210,000 | €505,000 | +€295,000 | +140.5% |
| Accrued charges and deferred income | 492/3 | €30,803 | €17,828 | -€12,975 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,549 | €26,721 | +€172 | +0.6% |
| Other operating charges | 640/8 | €4,683 | €4,800 | +€117 | +2.5% |
| Gross operating margin | 9900 | €25,701 | €21,486 | -€4,215 | -16.4% |
| Operating profit (loss) | 9901 | -€5,531 | -€10,035 | -€4,504 | -81.4% |
| Financial income | 75/76B | €64,470 | €44,693 | -€19,777 | -30.7% |
| Recurring financial income | 75 | €95 | €568 | +€473 | +497.9% |
| Non-recurring financial income | 76B | €64,375 | €44,125 | -€20,250 | -31.5% |
| Financial charges | 65/66B | €1,640 | €1,106 | -€534 | -32.6% |
| Recurring financial charges | 65 | €1,640 | €1,106 | -€534 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €57,299 | €33,552 | -€23,747 | -41.4% |
| Transfer from deferred taxes | 780 | €1,969 | €1,969 | = | 0.0% |
| Profit (loss) for the period | 9904 | €59,268 | €35,521 | -€23,747 | -40.1% |
| Transfer from tax-exempt reserves | 789 | €4,688 | €4,688 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,956 | €40,209 | -€23,747 | -37.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.