GRAFIMO: 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.
GRAFIMO
Largest movements
- Current investments +€980,000
up €980,000 (+9650.3%), from €10,155 to €990,155
- Financial fixed assets -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Tangible fixed assets -€137,036
down €137,036 (-100.0%), from €137,036 to €0
- Receivables within one year -€52,267
down €52,267 (-96.7%), from €54,075 to €1,808
of which Other amounts receivable: -€52,203
- Reserves +€599,092
up €599,092 (+264.0%), from €226,916 to €826,008
- Gross operating margin +€602,636
up €602,636 (+1721.2%), from €35,013 to €637,649
- Taxes +€208,637
up €208,637 (+1817.6%), from €11,479 to €220,115
- Financial income +€132,980
up €132,980 (+256.7%), from €51,806 to €184,786
of which Non-recurring financial income: +€179,337
- Depreciation -€7,576
down €7,576 (-100.0%), from €7,576 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.
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 | €471,638 | €1,070,743 | +€599,104 | +127.0% |
| Fixed assets | 21/28 | €337,036 | €0 | -€337,036 | -100.0% |
| Tangible fixed assets | 22/27 | €137,036 | €0 | -€137,036 | -100.0% |
| Land and buildings | 22 | €137,036 | €0 | -€137,036 | -100.0% |
| Financial fixed assets | 28 | €200,000 | €0 | -€200,000 | -100.0% |
| Current assets | 29/58 | €134,602 | €1,070,743 | +€936,140 | +695.5% |
| Amounts receivable within one year | 40/41 | €54,075 | €1,808 | -€52,267 | -96.7% |
| Trade receivables | 40 | €64 | €0 | -€64 | -100.0% |
| Other amounts receivable | 41 | €54,011 | €1,808 | -€52,203 | -96.7% |
| Current investments | 50/53 | €10,155 | €990,155 | +€980,000 | +9650.3% |
| Cash at bank and in hand | 54/58 | €67,372 | €76,408 | +€9,035 | +13.4% |
| Deferred charges and accrued income | 490/1 | €3,000 | €2,372 | -€628 | -20.9% |
| Total equity and liabilities | 10/49 | €471,638 | €1,070,743 | +€599,104 | +127.0% |
| Equity | 10/15 | €466,717 | €1,065,809 | +€599,092 | +128.4% |
| Contributions | 10/11 | €235,000 | €235,000 | = | 0.0% |
| Reserves | 13 | €226,916 | €826,008 | +€599,092 | +264.0% |
| Distributable reserves | 133 | €226,916 | €826,008 | +€599,092 | +264.0% |
| Profit (loss) carried forward | 14 | €4,802 | €4,802 | = | 0.0% |
| Amounts payable | 17/49 | €4,921 | €4,934 | +€13 | +0.3% |
| Amounts payable within one year | 42/48 | €4,921 | €4,934 | +€13 | +0.3% |
| Trade debts | 44 | €549 | €582 | +€33 | +6.0% |
| Suppliers | 440/4 | €549 | €582 | +€33 | +6.0% |
| Taxes, remuneration and social security | 45 | €4,372 | €4,352 | -€20 | -0.5% |
| Taxes | 450/3 | €4,372 | €4,352 | -€20 | -0.5% |
| Non-recurring operating income | 76A | - | €690,964 | +€690,964 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,576 | €0 | -€7,576 | -100.0% |
| Other operating charges | 640/8 | €6,279 | €2,992 | -€3,287 | -52.3% |
| Gross operating margin | 9900 | €35,013 | €637,649 | +€602,636 | +1721.2% |
| Operating profit (loss) | 9901 | €21,158 | €634,657 | +€613,499 | +2899.6% |
| Financial income | 75/76B | €51,806 | €184,786 | +€132,980 | +256.7% |
| Recurring financial income | 75 | €51,806 | €5,449 | -€46,357 | -89.5% |
| Non-recurring financial income | 76B | - | €179,337 | +€179,337 | |
| Financial charges | 65/66B | €138 | €236 | +€98 | +70.9% |
| Recurring financial charges | 65 | €138 | €236 | +€98 | +70.9% |
| Profit (loss) for the period before taxes | 9903 | €72,826 | €819,207 | +€746,381 | +1024.9% |
| Income taxes | 67/77 | €11,479 | €220,115 | +€208,637 | +1817.6% |
| Profit (loss) for the period | 9904 | €61,347 | €599,092 | +€537,744 | +876.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,347 | €599,092 | +€537,744 | +876.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.