GRAFARM: 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.
GRAFARM
Largest movements
- Tangible fixed assets -€76,189
down €76,189 (-24.1%), from €316,346 to €240,157
of which Plant, machinery and equipment: -€66,392
- Debts after one year -€46,119
down €46,119 (-29.4%), from €156,895 to €110,777
- Profit (loss) carried forward -€35,324
down €35,324 (-101.4%), from -€34,847 to -€70,171
- Other debts +€6,637
up €6,637 (+4.5%), from €147,764 to €154,401
- Gross operating margin -€51,816
down €51,816 (-50.8%), from €101,935 to €50,119
- Financial charges +€6,329
up €6,329 (+290.3%), from €2,180 to €8,510
- Depreciation +€1,702
up €1,702 (+2.3%), from €74,488 to €76,189
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 | €331,580 | €255,073 | -€76,507 | -23.1% |
| Fixed assets | 21/28 | €316,346 | €240,157 | -€76,189 | -24.1% |
| Tangible fixed assets | 22/27 | €316,346 | €240,157 | -€76,189 | -24.1% |
| Plant, machinery and equipment | 23 | €300,590 | €234,198 | -€66,392 | -22.1% |
| Furniture and vehicles | 24 | €15,757 | €5,959 | -€9,798 | -62.2% |
| Current assets | 29/58 | €15,234 | €14,916 | -€318 | -2.1% |
| Stocks and contracts in progress | 3 | €1,072 | €1,203 | +€131 | +12.2% |
| Stocks | 30/36 | €1,072 | €1,203 | +€131 | +12.2% |
| Amounts receivable within one year | 40/41 | €2,447 | €4,850 | +€2,402 | +98.2% |
| Trade receivables | 40 | €920 | €2,381 | +€1,461 | +158.8% |
| Other amounts receivable | 41 | €1,527 | €2,469 | +€941 | +61.6% |
| Current investments | 50/53 | €1,048 | €57 | -€991 | -94.6% |
| Cash at bank and in hand | 54/58 | €6,438 | €4,843 | -€1,596 | -24.8% |
| Deferred charges and accrued income | 490/1 | €4,228 | €3,964 | -€264 | -6.2% |
| Total equity and liabilities | 10/49 | €331,580 | €255,073 | -€76,507 | -23.1% |
| Equity | 10/15 | -€22,447 | -€57,771 | -€35,324 | -157.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,847 | -€70,171 | -€35,324 | -101.4% |
| Amounts payable | 17/49 | €354,027 | €312,844 | -€41,183 | -11.6% |
| Amounts payable after more than one year | 17 | €156,895 | €110,777 | -€46,119 | -29.4% |
| Financial debts | 170/4 | €156,895 | €110,777 | -€46,119 | -29.4% |
| Amounts payable within one year | 42/48 | €197,131 | €202,067 | +€4,936 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €48,599 | €46,119 | -€2,480 | -5.1% |
| Trade debts | 44 | €768 | €1,536 | +€768 | +100.0% |
| Suppliers | 440/4 | €768 | €1,536 | +€768 | +100.0% |
| Taxes, remuneration and social security | 45 | €0 | €11 | +€11 | |
| Taxes | 450/3 | €0 | €11 | +€11 | |
| Other amounts payable | 47/48 | €147,764 | €154,401 | +€6,637 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,488 | €76,189 | +€1,702 | +2.3% |
| Other operating charges | 640/8 | €1,118 | €787 | -€331 | -29.6% |
| Gross operating margin | 9900 | €101,935 | €50,119 | -€51,816 | -50.8% |
| Operating profit (loss) | 9901 | €26,330 | -€26,857 | -€53,187 | |
| Financial income | 75/76B | €19 | €43 | +€24 | +124.7% |
| Recurring financial income | 75 | €19 | €43 | +€24 | +124.7% |
| Financial charges | 65/66B | €2,180 | €8,510 | +€6,329 | +290.3% |
| Recurring financial charges | 65 | €2,180 | €8,510 | +€6,329 | +290.3% |
| Profit (loss) for the period before taxes | 9903 | €24,168 | -€35,324 | -€59,492 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €24,168 | -€35,324 | -€59,492 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,168 | -€35,324 | -€59,492 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.