GRADATEX: what changed
Two fiscal 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.
GRADATEX
Largest movements
- Cash +€15,712
up €15,712 (+144.2%), from €10,896 to €26,608
mainly Other debts (+€57,722) and Trade debts (+€39,217)
- Other debts +€57,722
up €57,722 (+149.7%), from €38,562 to €96,285
- Tax, wage and social debts -€39,567
down €39,567 (-38.1%), from €103,972 to €64,405
of which Taxes: -€33,380
- Reserves -€39,500
down €39,500 (-43.2%), from €91,403 to €51,903
of which Distributable reserves: -€39,500
- Trade debts +€39,217
up €39,217 (+8.8%), from €444,070 to €483,288
- Debts after one year -€20,261
down €20,261 (-16.0%), from €126,786 to €106,526
of which Financial debts: -€20,261
- Gross operating margin +€46,268
up €46,268 (+20.1%), from €229,832 to €276,101
- Write-downs +€28,000
new in 2024: €28,000
- Depreciation +€10,219
up €10,219 (+41.1%), from €24,844 to €35,064
- Other operating charges +€5,222
up €5,222 (+175.5%), from €2,975 to €8,197
- Financial charges +€4,748
up €4,748 (+15.9%), from €29,812 to €34,560
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,138,701 | €1,138,618 | -€83 | 0.0% |
| Fixed assets | 21/28 | €139,683 | €135,747 | -€3,937 | -2.8% |
| Intangible fixed assets | 21 | €414 | €0 | -€414 | -100.0% |
| Tangible fixed assets | 22/27 | €139,269 | €135,747 | -€3,523 | -2.5% |
| Plant, machinery and equipment | 23 | €19,033 | €26,689 | +€7,656 | +40.2% |
| Furniture and vehicles | 24 | - | €14,605 | +€14,605 | |
| Leasing and similar rights | 25 | €120,236 | €94,452 | -€25,784 | -21.4% |
| Current assets | 29/58 | €999,018 | €1,002,872 | +€3,854 | +0.4% |
| Stocks and contracts in progress | 3 | €616,277 | €607,477 | -€8,800 | -1.4% |
| Stocks | 30/36 | €616,277 | €607,477 | -€8,800 | -1.4% |
| Amounts receivable within one year | 40/41 | €313,094 | €305,965 | -€7,129 | -2.3% |
| Trade receivables | 40 | €306,296 | €303,912 | -€2,384 | -0.8% |
| Other amounts receivable | 41 | €6,798 | €2,053 | -€4,745 | -69.8% |
| Cash at bank and in hand | 54/58 | €10,896 | €26,608 | +€15,712 | +144.2% |
| Deferred charges and accrued income | 490/1 | €58,751 | €62,821 | +€4,071 | +6.9% |
| Total equity and liabilities | 10/49 | €1,138,701 | €1,138,618 | -€83 | 0.0% |
| Equity | 10/15 | €309,047 | €285,885 | -€23,162 | -7.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €91,403 | €51,903 | -€39,500 | -43.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,244 | €10,244 | = | 0.0% |
| Distributable reserves | 133 | €79,300 | €39,800 | -€39,500 | -49.8% |
| Profit (loss) carried forward | 14 | €199,052 | €215,390 | +€16,338 | +8.2% |
| Amounts payable | 17/49 | €829,655 | €852,733 | +€23,079 | +2.8% |
| Amounts payable after more than one year | 17 | €126,786 | €106,526 | -€20,261 | -16.0% |
| Financial debts | 170/4 | €78,036 | €57,776 | -€20,261 | -26.0% |
| Other amounts payable | 178/9 | €48,750 | €48,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €702,868 | €746,208 | +€43,339 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €22,144 | €21,118 | -€1,026 | -4.6% |
| Financial debts | 43 | €94,120 | €81,112 | -€13,007 | -13.8% |
| Credit institutions | 430/8 | €94,120 | €81,112 | -€13,007 | -13.8% |
| Trade debts | 44 | €444,070 | €483,288 | +€39,217 | +8.8% |
| Suppliers | 440/4 | €444,070 | €483,288 | +€39,217 | +8.8% |
| Taxes, remuneration and social security | 45 | €103,972 | €64,405 | -€39,567 | -38.1% |
| Taxes | 450/3 | €82,926 | €49,546 | -€33,380 | -40.3% |
| Remuneration and social security | 454/9 | €21,046 | €14,859 | -€6,187 | -29.4% |
| Other amounts payable | 47/48 | €38,562 | €96,285 | +€57,722 | +149.7% |
| Non-recurring operating income | 76A | €57,235 | €0 | -€57,235 | -100.0% |
| Remuneration, social security and pensions | 62 | €154,387 | €152,521 | -€1,866 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,844 | €35,064 | +€10,219 | +41.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €28,000 | +€28,000 | |
| Other operating charges | 640/8 | €2,975 | €8,197 | +€5,222 | +175.5% |
| Gross operating margin | 9900 | €229,832 | €276,101 | +€46,268 | +20.1% |
| Operating profit (loss) | 9901 | €47,625 | €52,319 | +€4,693 | +9.9% |
| Financial income | 75/76B | €8,456 | €6,574 | -€1,882 | -22.3% |
| Recurring financial income | 75 | €8,456 | €6,574 | -€1,882 | -22.3% |
| Financial charges | 65/66B | €29,812 | €34,560 | +€4,748 | +15.9% |
| Recurring financial charges | 65 | €29,812 | €34,560 | +€4,748 | +15.9% |
| Profit (loss) for the period before taxes | 9903 | €26,270 | €24,333 | -€1,937 | -7.4% |
| Income taxes | 67/77 | €9,068 | €7,994 | -€1,074 | -11.8% |
| Profit (loss) for the period | 9904 | €17,201 | €16,338 | -€863 | -5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,201 | €16,338 | -€863 | -5.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.