GRAINN: 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.
GRAINN
Largest movements
- Receivables within one year +€601,102
up €601,102 (+220%), from €273,128 to €874,229
of which Other amounts receivable: +€582,858
- Receivables after one year -€414,620
down €414,620 (-70.9%), from €584,620 to €170,000
- Cash +€16,947
up €16,947 (+34.7%), from €48,825 to €65,772
mainly Receivables after one year (+€414,620) and Net result for the year (+€206,868)
- Reserves +€206,868
up €206,868 (+435%), from €47,535 to €254,403
of which Distributable reserves: +€208,728
- Tax, wage and social debts -€58,957
down €58,957 (-46.4%), from €127,180 to €68,223
- Trade debts +€34,264
up €34,264 (+14.6%), from €234,300 to €268,564
- Current portion of long-term debt +€30,394
up €30,394 (+41.8%), from €72,785 to €103,179
- Gross operating margin +€52,083
up €52,083 (+21.8%), from €239,351 to €291,434
- Taxes +€11,850
up €11,850 (+14.4%), from €82,303 to €94,153
- Financial income -€4,724
down €4,724 (-11.8%), from €39,911 to €35,187
of which Non-recurring financial income: -€17,257
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 | €1,099,447 | €1,297,953 | +€198,506 | +18.1% |
| Fixed assets | 21/28 | €191,841 | €187,329 | -€4,511 | -2.4% |
| Tangible fixed assets | 22/27 | €71,841 | €67,329 | -€4,511 | -6.3% |
| Land and buildings | 22 | €70,845 | €57,801 | -€13,045 | -18.4% |
| Plant, machinery and equipment | 23 | - | €2,206 | +€2,206 | |
| Furniture and vehicles | 24 | €996 | €7,322 | +€6,327 | +636% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €907,607 | €1,110,624 | +€203,017 | +22.4% |
| Amounts receivable after more than one year | 29 | €584,620 | €170,000 | -€414,620 | -70.9% |
| Other amounts receivable | 291 | €584,620 | €170,000 | -€414,620 | -70.9% |
| Amounts receivable within one year | 40/41 | €273,128 | €874,229 | +€601,102 | +220% |
| Trade receivables | 40 | €6,613 | €24,857 | +€18,244 | +276% |
| Other amounts receivable | 41 | €266,515 | €849,372 | +€582,858 | +219% |
| Cash at bank and in hand | 54/58 | €48,825 | €65,772 | +€16,947 | +34.7% |
| Deferred charges and accrued income | 490/1 | €1,034 | €622 | -€412 | -39.8% |
| Total equity and liabilities | 10/49 | €1,099,447 | €1,297,953 | +€198,506 | +18.1% |
| Equity | 10/15 | €544,046 | €750,914 | +€206,868 | +38.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,535 | €254,403 | +€206,868 | +435% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €26,925 | €235,653 | +€208,728 | +775% |
| Profit (loss) carried forward | 14 | €490,311 | €490,311 | = | 0.0% |
| Amounts payable | 17/49 | €555,401 | €547,039 | -€8,362 | -1.5% |
| Amounts payable after more than one year | 17 | €111,055 | €101,041 | -€10,014 | -9.0% |
| Financial debts | 170/4 | €111,055 | €101,041 | -€10,014 | -9.0% |
| Amounts payable within one year | 42/48 | €434,265 | €439,966 | +€5,701 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €72,785 | €103,179 | +€30,394 | +41.8% |
| Trade debts | 44 | €234,300 | €268,564 | +€34,264 | +14.6% |
| Suppliers | 440/4 | €234,300 | €268,564 | +€34,264 | +14.6% |
| Taxes, remuneration and social security | 45 | €127,180 | €68,223 | -€58,957 | -46.4% |
| Taxes | 450/3 | €127,180 | €68,223 | -€58,957 | -46.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €10,081 | €6,031 | -€4,049 | -40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,351 | €14,941 | +€590 | +4.1% |
| Other operating charges | 640/8 | €1,002 | €1,092 | +€90 | +9.0% |
| Gross operating margin | 9900 | €239,351 | €291,434 | +€52,083 | +21.8% |
| Operating profit (loss) | 9901 | €223,998 | €275,401 | +€51,403 | +22.9% |
| Financial income | 75/76B | €39,911 | €35,187 | -€4,724 | -11.8% |
| Recurring financial income | 75 | €22,654 | €35,187 | +€12,534 | +55.3% |
| Non-recurring financial income | 76B | €17,257 | €0 | -€17,257 | -100% |
| Financial charges | 65/66B | €8,322 | €9,568 | +€1,246 | +15.0% |
| Recurring financial charges | 65 | €8,322 | €9,568 | +€1,246 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €255,588 | €301,021 | +€45,433 | +17.8% |
| Income taxes | 67/77 | €82,303 | €94,153 | +€11,850 | +14.4% |
| Profit (loss) for the period | 9904 | €173,285 | €206,868 | +€33,583 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €173,285 | €206,868 | +€33,583 | +19.4% |
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 16 October 2026 via checked.be.