GRAFXDESIGN: 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.
GRAFXDESIGN
Largest movements
- Stocks and contracts +€27,088
up €27,088 (+111.3%), from €24,347 to €51,435
- Tangible fixed assets -€19,037
down €19,037 (-11.0%), from €173,492 to €154,455
of which Furniture and vehicles: -€13,761
- Receivables within one year +€15,603
up €15,603 (+51.3%), from €30,417 to €46,019
of which Trade receivables: +€18,069
- Deferred charges and accrued income +€7,520
up €7,520 (+453.4%), from €1,658 to €9,178
- Trade debts +€54,692
up €54,692 (+169.1%), from €32,351 to €87,043
- Debts after one year -€25,594
down €25,594 (-22.0%), from €116,589 to €90,995
- Other debts -€4,575
down €4,575 (-19.7%), from €23,197 to €18,622
- Gross operating margin +€52,943
up €52,943 (+40.5%), from €130,675 to €183,617
- Staff costs +€18,823
up €18,823 (+15.2%), from €123,806 to €142,629
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 | €230,941 | €261,105 | +€30,164 | +13.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €173,492 | €154,455 | -€19,037 | -11.0% |
| Tangible fixed assets | 22/27 | €173,492 | €154,455 | -€19,037 | -11.0% |
| Plant, machinery and equipment | 23 | €120,257 | €116,028 | -€4,229 | -3.5% |
| Furniture and vehicles | 24 | €39,228 | €25,467 | -€13,761 | -35.1% |
| Other tangible fixed assets | 26 | €14,007 | €12,960 | -€1,048 | -7.5% |
| Current assets | 29/58 | €57,449 | €106,650 | +€49,201 | +85.6% |
| Stocks and contracts in progress | 3 | €24,347 | €51,435 | +€27,088 | +111.3% |
| Stocks | 30/36 | €24,347 | €51,435 | +€27,088 | +111.3% |
| Amounts receivable within one year | 40/41 | €30,417 | €46,019 | +€15,603 | +51.3% |
| Trade receivables | 40 | €26,966 | €45,035 | +€18,069 | +67.0% |
| Other amounts receivable | 41 | €3,450 | €984 | -€2,466 | -71.5% |
| Cash at bank and in hand | 54/58 | €1,027 | €17 | -€1,010 | -98.3% |
| Deferred charges and accrued income | 490/1 | €1,658 | €9,178 | +€7,520 | +453.4% |
| Total equity and liabilities | 10/49 | €230,941 | €261,105 | +€30,164 | +13.1% |
| Equity | 10/15 | -€2,552 | -€1,104 | +€1,448 | +56.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,496 | €8,496 | = | 0.0% |
| Distributable reserves | 133 | €8,496 | €8,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,648 | -€28,200 | +€1,448 | +4.9% |
| Amounts payable | 17/49 | €233,493 | €262,208 | +€28,715 | +12.3% |
| Amounts payable after more than one year | 17 | €116,589 | €90,995 | -€25,594 | -22.0% |
| Financial debts | 170/4 | €116,589 | €90,995 | -€25,594 | -22.0% |
| Amounts payable within one year | 42/48 | €116,904 | €171,213 | +€54,309 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €24,778 | €25,594 | +€816 | +3.3% |
| Financial debts | 43 | €12,381 | €14,508 | +€2,127 | +17.2% |
| Credit institutions | 430/8 | €12,381 | €14,508 | +€2,127 | +17.2% |
| Trade debts | 44 | €32,351 | €87,043 | +€54,692 | +169.1% |
| Suppliers | 440/4 | €32,351 | €87,043 | +€54,692 | +169.1% |
| Taxes, remuneration and social security | 45 | €24,197 | €25,446 | +€1,250 | +5.2% |
| Taxes | 450/3 | €18,451 | €17,293 | -€1,158 | -6.3% |
| Remuneration and social security | 454/9 | €5,746 | €8,153 | +€2,408 | +41.9% |
| Other amounts payable | 47/48 | €23,197 | €18,622 | -€4,575 | -19.7% |
| Remuneration, social security and pensions | 62 | €123,806 | €142,629 | +€18,823 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,587 | €28,419 | -€1,168 | -3.9% |
| Other operating charges | 640/8 | €574 | €1,604 | +€1,029 | +179.3% |
| Gross operating margin | 9900 | €130,675 | €183,617 | +€52,943 | +40.5% |
| Operating profit (loss) | 9901 | -€23,293 | €10,966 | +€34,258 | |
| Financial income | 75/76B | €1,585 | €108 | -€1,477 | -93.2% |
| Recurring financial income | 75 | €1,585 | €108 | -€1,477 | -93.2% |
| Financial charges | 65/66B | €7,801 | €9,489 | +€1,689 | +21.6% |
| Recurring financial charges | 65 | €7,199 | €9,489 | +€2,290 | +31.8% |
| Non-recurring financial charges | 66B | €602 | - | -€602 | |
| Profit (loss) for the period before taxes | 9903 | -€29,508 | €1,584 | +€31,093 | |
| Income taxes | 67/77 | €139 | €136 | -€3 | -2.2% |
| Profit (loss) for the period | 9904 | -€29,648 | €1,448 | +€31,096 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,648 | €1,448 | +€31,096 |
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 8 October 2026 via checked.be.