Gramax Consulting: what changed
Gramax Consulting
Largest movements
- Cash -€55,858
down €55,858 (-17.7%), from €314,755 to €258,898
mainly Contributions, distributions and other (-€21,552) and Receivables within one year (-€21,058)
- Current investments -€23,126
down €23,126 (-13.3%), from €173,351 to €150,225
- Tangible fixed assets -€22,370
down €22,370 (-21.3%), from €105,250 to €82,880
of which Furniture and vehicles: -€21,249
- Receivables within one year +€21,058
up €21,058 (+379%), from €5,560 to €26,617
of which Trade receivables: +€25,579
- Deferred charges and accrued income +€7,584
up €7,584 (+91.9%), from €8,255 to €15,839
- Reserves -€21,552
down €21,552 (-4.6%), from €464,893 to €443,342
of which Distributable reserves: -€11,920
- Debts after one year -€18,645
down €18,645 (-24.9%), from €75,029 to €56,384
- Profit (loss) carried forward -€17,492
new in 2025: -€17,492
- Tax, wage and social debts -€17,150
down €17,150 (-40.6%), from €42,203 to €25,052
of which Taxes: -€13,767
- Other debts +€7,995
new in 2025: €7,995
- Financial income -€91,748
down €91,748 (-96.3%), from €95,244 to €3,495
of which Financial income: -€57,046
- Taxes -€31,822
down €31,822 (-94.4%), from €33,710 to €1,888
- Gross operating margin -€24,411
down €24,411 (-43.4%), from €56,183 to €31,772
- Financial charges +€24,391
up €24,391 (+1,199%), from €2,034 to €26,425
- Depreciation +€16,211
up €16,211 (+263%), from €6,159 to €22,370
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €607,172 | €534,459 | -€72,712 | -12.0% |
| Fixed assets | 21/28 | €105,250 | €82,880 | -€22,370 | -21.3% |
| Tangible fixed assets | 22/27 | €105,250 | €82,880 | -€22,370 | -21.3% |
| Plant, machinery and equipment | 23 | €4,316 | €3,196 | -€1,120 | -26.0% |
| Furniture and vehicles | 24 | €100,933 | €79,684 | -€21,249 | -21.1% |
| Current assets | 29/58 | €501,922 | €451,579 | -€50,343 | -10.0% |
| Amounts receivable within one year | 40/41 | €5,560 | €26,617 | +€21,058 | +379% |
| Trade receivables | 40 | - | €25,579 | +€25,579 | |
| Other amounts receivable | 41 | €5,560 | €1,038 | -€4,522 | -81.3% |
| Current investments | 50/53 | €173,351 | €150,225 | -€23,126 | -13.3% |
| Cash at bank and in hand | 54/58 | €314,755 | €258,898 | -€55,858 | -17.7% |
| Deferred charges and accrued income | 490/1 | €8,255 | €15,839 | +€7,584 | +91.9% |
| Total equity and liabilities | 10/49 | €607,172 | €534,459 | -€72,712 | -12.0% |
| Equity | 10/15 | €464,893 | €425,850 | -€39,044 | -8.4% |
| Reserves | 13 | €464,893 | €443,342 | -€21,552 | -4.6% |
| Tax-exempt reserves | 132 | €9,631 | - | -€9,631 | |
| Distributable reserves | 133 | €455,262 | €443,342 | -€11,920 | -2.6% |
| Profit (loss) carried forward | 14 | - | -€17,492 | -€17,492 | |
| Provisions and deferred taxes | 16 | €2,408 | - | -€2,408 | |
| Deferred taxes | 168 | €2,408 | - | -€2,408 | |
| Amounts payable | 17/49 | €139,871 | €108,610 | -€31,261 | -22.3% |
| Amounts payable after more than one year | 17 | €75,029 | €56,384 | -€18,645 | -24.9% |
| Financial debts | 170/4 | €75,029 | €56,384 | -€18,645 | -24.9% |
| Amounts payable within one year | 42/48 | €64,841 | €52,226 | -€12,616 | -19.5% |
| Current portion of amounts payable after more than one year | 42 | €18,025 | €18,645 | +€620 | +3.4% |
| Trade debts | 44 | €4,613 | €533 | -€4,080 | -88.4% |
| Suppliers | 440/4 | €4,613 | €533 | -€4,080 | -88.4% |
| Taxes, remuneration and social security | 45 | €42,203 | €25,052 | -€17,150 | -40.6% |
| Taxes | 450/3 | €36,089 | €22,322 | -€13,767 | -38.1% |
| Remuneration and social security | 454/9 | €6,114 | €2,731 | -€3,383 | -55.3% |
| Other amounts payable | 47/48 | - | €7,995 | +€7,995 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,159 | €22,370 | +€16,211 | +263% |
| Other operating charges | 640/8 | €2,956 | €2,077 | -€880 | -29.8% |
| Gross operating margin | 9900 | €56,183 | €31,772 | -€24,411 | -43.4% |
| Operating profit (loss) | 9901 | €47,068 | €7,326 | -€39,742 | -84.4% |
| Financial income | 75/76B | €95,244 | €3,495 | -€91,748 | -96.3% |
| Recurring financial income | 75 | €60,541 | €3,495 | -€57,046 | -94.2% |
| Non-recurring financial income | 76B | €34,702 | - | -€34,702 | |
| Financial charges | 65/66B | €2,034 | €26,425 | +€24,391 | +1,199% |
| Recurring financial charges | 65 | €2,034 | €26,425 | +€24,391 | +1,199% |
| Profit (loss) for the period before taxes | 9903 | €140,278 | -€15,604 | -€155,882 | |
| Transfer from deferred taxes | 780 | €1,062 | - | -€1,062 | |
| Transfer to deferred taxes | 680 | €3,470 | - | -€3,470 | |
| Income taxes | 67/77 | €33,710 | €1,888 | -€31,822 | -94.4% |
| Profit (loss) for the period | 9904 | €104,160 | -€17,492 | -€121,652 | |
| Transfer from tax-exempt reserves | 789 | €4,250 | - | -€4,250 | |
| Transfer to tax-exempt reserves | 689 | €13,881 | - | -€13,881 | |
| Profit (loss) for the period to be appropriated | 9905 | €94,529 | -€17,492 | -€112,021 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.