GRAFLUX: 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.
GRAFLUX
Largest movements
- Receivables within one year +€10,002
up €10,002 (+110%), from €9,102 to €19,104
of which Trade receivables: +€10,727
- Stocks and contracts +€6,494
up €6,494 (+4.7%), from €137,608 to €144,102
- Tangible fixed assets -€4,444
down €4,444 (-34.5%), from €12,866 to €8,422
- Trade debts +€9,539
up €9,539 (+110%), from €8,663 to €18,203
- Other debts +€8,581
new in 2025: €8,581
- Profit (loss) carried forward -€6,414
down €6,414 (-7.2%), from €89,177 to €82,763
- Gross operating margin -€4,644
down €4,644, from €1,441 to -€3,203
- Financial income +€2,053
new in 2025: €2,053
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 | €166,040 | €177,746 | +€11,706 | +7.1% |
| Fixed assets | 21/28 | €12,866 | €8,422 | -€4,444 | -34.5% |
| Tangible fixed assets | 22/27 | €12,866 | €8,422 | -€4,444 | -34.5% |
| Plant, machinery and equipment | 23 | €12,866 | €8,422 | -€4,444 | -34.5% |
| Current assets | 29/58 | €153,174 | €169,325 | +€16,150 | +10.5% |
| Stocks and contracts in progress | 3 | €137,608 | €144,102 | +€6,494 | +4.7% |
| Stocks | 30/36 | €137,608 | €144,102 | +€6,494 | +4.7% |
| Amounts receivable within one year | 40/41 | €9,102 | €19,104 | +€10,002 | +110% |
| Trade receivables | 40 | €8,377 | €19,104 | +€10,727 | +128% |
| Other amounts receivable | 41 | €725 | €0 | -€725 | -100% |
| Cash at bank and in hand | 54/58 | €6,465 | €6,119 | -€346 | -5.3% |
| Total equity and liabilities | 10/49 | €166,040 | €177,746 | +€11,706 | +7.1% |
| Equity | 10/15 | €157,377 | €150,963 | -€6,414 | -4.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,177 | €82,763 | -€6,414 | -7.2% |
| Amounts payable | 17/49 | €8,663 | €26,783 | +€18,120 | +209% |
| Amounts payable within one year | 42/48 | €8,663 | €26,783 | +€18,120 | +209% |
| Trade debts | 44 | €8,663 | €18,203 | +€9,539 | +110% |
| Suppliers | 440/4 | €8,663 | €18,203 | +€9,539 | +110% |
| Other amounts payable | 47/48 | - | €8,581 | +€8,581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,444 | €4,444 | -€0 | 0.0% |
| Other operating charges | 640/8 | €606 | €621 | +€14 | +2.4% |
| Gross operating margin | 9900 | €1,441 | -€3,203 | -€4,644 | |
| Operating profit (loss) | 9901 | -€3,609 | -€8,267 | -€4,658 | -129% |
| Financial income | 75/76B | - | €2,053 | +€2,053 | |
| Recurring financial income | 75 | - | €2,053 | +€2,053 | |
| Financial charges | 65/66B | €195 | €200 | +€5 | +2.8% |
| Recurring financial charges | 65 | €195 | €200 | +€5 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,804 | -€6,414 | -€2,610 | -68.6% |
| Profit (loss) for the period | 9904 | -€3,804 | -€6,414 | -€2,610 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,804 | -€6,414 | -€2,610 | -68.6% |
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 20 October 2026 via checked.be.