GRAFIMMO: 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.
GRAFIMMO
Largest movements
- Receivables within one year -€48,005
down €48,005 (-85.5%), from €56,148 to €8,143
of which Trade receivables: -€47,759
- Cash -€10,054
down €10,054 (-86.4%), from €11,638 to €1,584
mainly Net result for the year (-€44,619) and Other debts (-€11,877)
- Deferred charges and accrued income +€686
up €686 (+243%), from €282 to €969
- Profit (loss) carried forward -€44,619
down €44,619 (-167%), from -€26,699 to -€71,317
- Other debts -€11,877
down €11,877 (-75.5%), from €15,740 to €3,863
- Tax, wage and social debts -€2,146
down €2,146 (-18.4%), from €11,658 to €9,512
of which Taxes: -€1,131
- Trade debts +€1,270
up €1,270 (+7.8%), from €16,328 to €17,598
- Gross operating margin -€17,615
down €17,615 (-48.5%), from €36,350 to €18,736
- Staff costs +€1,020
up €1,020 (+1.6%), from €61,865 to €62,884
- Depreciation -€818
down €818 (-100%), from €818 to €0
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 | €68,068 | €10,696 | -€57,372 | -84.3% |
| Current assets | 29/58 | €68,068 | €10,696 | -€57,372 | -84.3% |
| Amounts receivable within one year | 40/41 | €56,148 | €8,143 | -€48,005 | -85.5% |
| Trade receivables | 40 | €55,892 | €8,133 | -€47,759 | -85.4% |
| Other amounts receivable | 41 | €256 | €11 | -€245 | -95.8% |
| Cash at bank and in hand | 54/58 | €11,638 | €1,584 | -€10,054 | -86.4% |
| Deferred charges and accrued income | 490/1 | €282 | €969 | +€686 | +243% |
| Total equity and liabilities | 10/49 | €68,068 | €10,696 | -€57,372 | -84.3% |
| Equity | 10/15 | €24,343 | -€20,276 | -€44,619 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,041 | €46,041 | = | 0.0% |
| Distributable reserves | 133 | €46,041 | €46,041 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,699 | -€71,317 | -€44,619 | -167% |
| Amounts payable | 17/49 | €43,726 | €30,972 | -€12,754 | -29.2% |
| Amounts payable within one year | 42/48 | €43,726 | €30,972 | -€12,754 | -29.2% |
| Trade debts | 44 | €16,328 | €17,598 | +€1,270 | +7.8% |
| Suppliers | 440/4 | €16,328 | €17,598 | +€1,270 | +7.8% |
| Taxes, remuneration and social security | 45 | €11,658 | €9,512 | -€2,146 | -18.4% |
| Taxes | 450/3 | €2,250 | €1,119 | -€1,131 | -50.3% |
| Remuneration and social security | 454/9 | €9,408 | €8,393 | -€1,015 | -10.8% |
| Other amounts payable | 47/48 | €15,740 | €3,863 | -€11,877 | -75.5% |
| Remuneration, social security and pensions | 62 | €61,865 | €62,884 | +€1,020 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €818 | €0 | -€818 | -100% |
| Other operating charges | 640/8 | €388 | €400 | +€12 | +3.1% |
| Gross operating margin | 9900 | €36,350 | €18,736 | -€17,615 | -48.5% |
| Operating profit (loss) | 9901 | -€26,720 | -€44,548 | -€17,828 | -66.7% |
| Financial charges | 65/66B | €79 | €70 | -€9 | -11.3% |
| Recurring financial charges | 65 | €79 | €70 | -€9 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,800 | -€44,619 | -€17,819 | -66.5% |
| Profit (loss) for the period | 9904 | -€26,800 | -€44,619 | -€17,819 | -66.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,800 | -€44,619 | -€17,819 | -66.5% |
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 15 October 2026 via checked.be.