GRALEM: 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.
GRALEM
Largest movements
- Financial fixed assets -€439,335
down €439,335 (-99.8%), from €440,000 to €666
- Profit (loss) carried forward -€464,561
down €464,561, from €25,514 to -€439,047
- Trade debts +€17,569
up €17,569 (+23.9%), from €73,505 to €91,074
- Tax, wage and social debts +€7,289
up €7,289 (+58.9%), from €12,365 to €19,655
of which Taxes: +€9,925
- Other debts +€6,695
up €6,695 (+7.9%), from €85,022 to €91,717
- Current portion of long-term debt -€4,688
down €4,688 (-12.6%), from €37,118 to €32,430
- Financial charges +€437,326
up €437,326 (+14235.0%), from €3,072 to €440,398
- Turnover -€57,078
no longer reported in 2024 (was €57,078)
- Gross operating margin -€54,946
down €54,946, from €38,859 to -€16,087
- Taxes -€6,068
down €6,068 (-77.4%), from €7,836 to €1,768
- Staff costs +€5,876
new in 2024: €5,876
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €459,310 | €21,736 | -€437,574 | -95.3% |
| Fixed assets | 21/28 | €450,810 | €11,476 | -€439,335 | -97.5% |
| Tangible fixed assets | 22/27 | €10,810 | €10,810 | = | 0.0% |
| Land and buildings | 22 | €10,810 | €10,810 | = | 0.0% |
| Financial fixed assets | 28 | €440,000 | €666 | -€439,335 | -99.8% |
| Current assets | 29/58 | €8,500 | €10,260 | +€1,760 | +20.7% |
| Amounts receivable within one year | 40/41 | €8,500 | €10,260 | +€1,760 | +20.7% |
| Trade receivables | 40 | €8,500 | €8,500 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,760 | +€1,760 | |
| Total equity and liabilities | 10/49 | €459,310 | €21,736 | -€437,574 | -95.3% |
| Equity | 10/15 | €87,014 | -€377,547 | -€464,561 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,514 | -€439,047 | -€464,561 | |
| Amounts payable | 17/49 | €372,297 | €399,283 | +€26,986 | +7.2% |
| Amounts payable after more than one year | 17 | €164,286 | €164,286 | = | 0.0% |
| Financial debts | 170/4 | €164,286 | €164,286 | = | 0.0% |
| Amounts payable within one year | 42/48 | €208,011 | €234,997 | +€26,986 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €37,118 | €32,430 | -€4,688 | -12.6% |
| Financial debts | 43 | - | €121 | +€121 | |
| Credit institutions | 430/8 | - | €121 | +€121 | |
| Trade debts | 44 | €73,505 | €91,074 | +€17,569 | +23.9% |
| Suppliers | 440/4 | €73,505 | €91,074 | +€17,569 | +23.9% |
| Taxes, remuneration and social security | 45 | €12,365 | €19,655 | +€7,289 | +58.9% |
| Taxes | 450/3 | €4,529 | €14,454 | +€9,925 | +219.1% |
| Remuneration and social security | 454/9 | €7,836 | €5,200 | -€2,636 | -33.6% |
| Other amounts payable | 47/48 | €85,022 | €91,717 | +€6,695 | +7.9% |
| Turnover | 70 | €57,078 | - | -€57,078 | |
| Goods, raw materials, services and sundry goods | 60/61 | €18,219 | €16,087 | -€2,132 | -11.7% |
| Remuneration, social security and pensions | 62 | - | €5,876 | +€5,876 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,725 | - | -€3,725 | |
| Other operating charges | 640/8 | €715 | €432 | -€284 | -39.7% |
| Non-recurring operating charges | 66A | €1,280 | - | -€1,280 | |
| Gross operating margin | 9900 | €38,859 | -€16,087 | -€54,946 | |
| Operating profit (loss) | 9901 | €33,139 | -€22,394 | -€55,533 | |
| Financial charges | 65/66B | €3,072 | €440,398 | +€437,326 | +14235.0% |
| Recurring financial charges | 65 | €3,072 | €440,398 | +€437,326 | +14235.0% |
| Profit (loss) for the period before taxes | 9903 | €30,066 | -€462,793 | -€492,859 | |
| Income taxes | 67/77 | €7,836 | €1,768 | -€6,068 | -77.4% |
| Profit (loss) for the period | 9904 | €22,230 | -€464,561 | -€486,791 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,230 | -€464,561 | -€486,791 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.