GRACON INVEST: what changed
GRACON INVEST
Largest movements
- Receivables within one year +€173,194
up €173,194 (+112%), from €154,811 to €328,006
of which Trade receivables: +€172,643
- Cash -€38,810
down €38,810 (-98.1%), from €39,551 to €741
mainly Receivables within one year (-€173,194) and Debts after one year (-€33,333)
- Reserves +€152,828
up €152,828 (+255%), from €59,981 to €212,809
- Other debts +€40,507
up €40,507 (+19.5%), from €207,275 to €247,782
- Debts after one year -€33,333
down €33,333 (-8.2%), from €405,556 to €372,223
- Tax, wage and social debts -€24,410
down €24,410 (-62.6%), from €39,016 to €14,607
of which Taxes: -€29,058
- Gross operating margin +€96,458
up €96,458 (+77.2%), from €124,915 to €221,373
- Taxes +€29,449
up €29,449 (+196%), from €14,995 to €44,444
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €773,134 | €907,519 | +€134,385 | +17.4% |
| Fixed assets | 21/28 | €578,772 | €578,772 | = | 0.0% |
| Tangible fixed assets | 22/27 | €578,772 | €578,772 | = | 0.0% |
| Land and buildings | 22 | €578,772 | €578,772 | = | 0.0% |
| Current assets | 29/58 | €194,362 | €328,747 | +€134,385 | +69.1% |
| Amounts receivable within one year | 40/41 | €154,811 | €328,006 | +€173,194 | +112% |
| Trade receivables | 40 | €149,807 | €322,450 | +€172,643 | +115% |
| Other amounts receivable | 41 | €5,005 | €5,556 | +€551 | +11.0% |
| Cash at bank and in hand | 54/58 | €39,551 | €741 | -€38,810 | -98.1% |
| Total equity and liabilities | 10/49 | €773,134 | €907,519 | +€134,385 | +17.4% |
| Equity | 10/15 | €84,981 | €237,809 | +€152,828 | +180% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €59,981 | €212,809 | +€152,828 | +255% |
| Distributable reserves | 133 | €59,981 | €212,809 | +€152,828 | +255% |
| Amounts payable | 17/49 | €688,154 | €669,710 | -€18,444 | -2.7% |
| Amounts payable after more than one year | 17 | €405,556 | €372,223 | -€33,333 | -8.2% |
| Financial debts | 170/4 | €405,556 | €372,223 | -€33,333 | -8.2% |
| Amounts payable within one year | 42/48 | €282,598 | €297,487 | +€14,889 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €33,333 | €33,333 | = | 0.0% |
| Trade debts | 44 | €2,974 | €1,766 | -€1,208 | -40.6% |
| Suppliers | 440/4 | €2,974 | €1,766 | -€1,208 | -40.6% |
| Taxes, remuneration and social security | 45 | €39,016 | €14,607 | -€24,410 | -62.6% |
| Taxes | 450/3 | €39,016 | €9,958 | -€29,058 | -74.5% |
| Remuneration and social security | 454/9 | - | €4,648 | +€4,648 | |
| Other amounts payable | 47/48 | €207,275 | €247,782 | +€40,507 | +19.5% |
| Other operating charges | 640/8 | €550 | €567 | +€17 | +3.0% |
| Non-recurring operating charges | 66A | - | €4,900 | +€4,900 | |
| Gross operating margin | 9900 | €124,915 | €221,373 | +€96,458 | +77.2% |
| Operating profit (loss) | 9901 | €124,365 | €215,906 | +€91,541 | +73.6% |
| Financial charges | 65/66B | €18,820 | €18,633 | -€187 | -1.0% |
| Recurring financial charges | 65 | €18,820 | €18,633 | -€187 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €105,545 | €197,273 | +€91,728 | +86.9% |
| Income taxes | 67/77 | €14,995 | €44,444 | +€29,449 | +196% |
| Profit (loss) for the period | 9904 | €90,549 | €152,828 | +€62,279 | +68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €90,549 | €152,828 | +€62,279 | +68.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.