GRAFE TRADITION: 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.
GRAFE TRADITION
Largest movements
- Cash -€74,766
down €74,766 (-88.7%), from €84,298 to €9,532
mainly Short-term financial debts (-€40,000) and Current investments (-€30,000)
- Current investments +€30,000
new in 2025: €30,000
- Short-term financial debts -€40,000
down €40,000 (-22.2%), from €180,000 to €140,000
- Tax, wage and social debts -€25,083
down €25,083 (-43.1%), from €58,182 to €33,099
of which Remuneration and social security: -€23,741
- Profit (loss) carried forward +€21,415
up €21,415 (+4.9%), from €439,697 to €461,113
- Staff costs -€24,297
down €24,297 (-15.6%), from €156,061 to €131,765
- Gross operating margin -€6,928
down €6,928 (-4.1%), from €169,173 to €162,245
- Taxes +€5,999
up €5,999 (+777%), from €772 to €6,771
- Financial charges -€3,723
down €3,723 (-29.1%), from €12,803 to €9,080
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.
Derived cash bridge
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 | €1,616,184 | €1,572,766 | -€43,418 | -2.7% |
| Fixed assets | 21/28 | €1,482,934 | €1,483,148 | +€213 | 0.0% |
| Tangible fixed assets | 22/27 | €3,402 | €3,615 | +€213 | +6.3% |
| Land and buildings | 22 | €2,788 | €2,612 | -€176 | -6.3% |
| Furniture and vehicles | 24 | €614 | €1,003 | +€389 | +63.4% |
| Financial fixed assets | 28 | €1,479,532 | €1,479,532 | = | 0.0% |
| Current assets | 29/58 | €133,250 | €89,618 | -€43,631 | -32.7% |
| Amounts receivable within one year | 40/41 | €46,786 | €48,184 | +€1,398 | +3.0% |
| Trade receivables | 40 | - | €35,824 | +€35,824 | |
| Other amounts receivable | 41 | €46,786 | €12,360 | -€34,426 | -73.6% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €84,298 | €9,532 | -€74,766 | -88.7% |
| Deferred charges and accrued income | 490/1 | €2,165 | €1,902 | -€264 | -12.2% |
| Total equity and liabilities | 10/49 | €1,616,184 | €1,572,766 | -€43,418 | -2.7% |
| Equity | 10/15 | €1,265,609 | €1,287,024 | +€21,415 | +1.7% |
| Contributions | 10/11 | €287,000 | €287,000 | = | 0.0% |
| Capital | 10 | €287,000 | €287,000 | = | 0.0% |
| Issued capital | 100 | €287,000 | €287,000 | = | 0.0% |
| Reserves | 13 | €538,912 | €538,912 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,700 | €28,700 | = | 0.0% |
| Legal reserve | 130 | €28,700 | €28,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €212 | €212 | = | 0.0% |
| Distributable reserves | 133 | €510,000 | €510,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €439,697 | €461,113 | +€21,415 | +4.9% |
| Amounts payable | 17/49 | €350,575 | €285,742 | -€64,833 | -18.5% |
| Amounts payable within one year | 42/48 | €340,391 | €277,526 | -€62,865 | -18.5% |
| Financial debts | 43 | €180,000 | €140,000 | -€40,000 | -22.2% |
| Credit institutions | 430/8 | €180,000 | €140,000 | -€40,000 | -22.2% |
| Trade debts | 44 | €31,990 | €35,726 | +€3,737 | +11.7% |
| Suppliers | 440/4 | €31,990 | €35,726 | +€3,737 | +11.7% |
| Taxes, remuneration and social security | 45 | €58,182 | €33,099 | -€25,083 | -43.1% |
| Taxes | 450/3 | €19,833 | €18,490 | -€1,342 | -6.8% |
| Remuneration and social security | 454/9 | €38,350 | €14,609 | -€23,741 | -61.9% |
| Other amounts payable | 47/48 | €70,219 | €68,700 | -€1,518 | -2.2% |
| Accrued charges and deferred income | 492/3 | €10,184 | €8,216 | -€1,969 | -19.3% |
| Remuneration, social security and pensions | 62 | €156,061 | €131,765 | -€24,297 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €597 | €678 | +€82 | +13.7% |
| Other operating charges | 640/8 | €3,144 | €2,274 | -€870 | -27.7% |
| Gross operating margin | 9900 | €169,173 | €162,245 | -€6,928 | -4.1% |
| Operating profit (loss) | 9901 | €9,371 | €27,529 | +€18,157 | +194% |
| Financial income | 75/76B | €9,975 | €9,738 | -€237 | -2.4% |
| Recurring financial income | 75 | €9,975 | €9,738 | -€237 | -2.4% |
| Financial charges | 65/66B | €12,803 | €9,080 | -€3,723 | -29.1% |
| Recurring financial charges | 65 | €12,803 | €9,080 | -€3,723 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €6,543 | €28,186 | +€21,643 | +331% |
| Income taxes | 67/77 | €772 | €6,771 | +€5,999 | +777% |
| Profit (loss) for the period | 9904 | €5,771 | €21,415 | +€15,644 | +271% |
| Profit (loss) for the period to be appropriated | 9905 | €5,771 | €21,415 | +€15,644 | +271% |
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 27 October 2026 via checked.be.