GRAMMER Electronics: 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.
What changed
GRAMMER Electronics
NACE 26.110, Manufacture of computer, electronic and optical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€315,579
2024 · €633,884-€318,305
Equity
€3.5m
2024 · €3.2m+€315,579
Cash
€314,385
2024 · €263,574+€50,811
Balance sheet total
€5.7m
2024 · €5.5m+€198,340
Largest movements
Assets
- Receivables within one year +€510,659
up €510,659 (+15.4%), from €3.3m to €3.8m
of which Other amounts receivable: +€352,114
- Stocks and contracts -€281,045
down €281,045 (-15.7%), from €1.8m to €1.5m
Equity and liabilities
- Debts after one year -€650,000
down €650,000 (-76.5%), from €850,000 to €200,000
- Trade debts +€644,235
up €644,235 (+61.8%), from €1.0m to €1.7m
- Profit (loss) carried forward +€315,579
up €315,579 (+30.5%), from -€1.0m to -€719,077
- Tax, wage and social debts -€198,553
down €198,553 (-55.8%), from €356,107 to €157,554
of which Remuneration and social security: -€147,085
- Accrued charges and deferred income +€87,079
up €87,079 (+142.0%), from €61,342 to €148,421
Income statement
- Other operating income -€589,509
down €589,509 (-47.1%), from €1.3m to €663,111
- Staff costs -€466,493
down €466,493 (-19.3%), from €2.4m to €2.0m
- Turnover -€398,707
down €398,707 (-4.6%), from €8.6m to €8.2m
- Write-downs +€240,820
up €240,820, from -€161,752 to €79,068
- Goods and materials -€233,414
down €233,414 (-4.9%), from €4.8m to €4.6m
of which Change in stocks: decrease (increase): -€350,146
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.
Result 2024
€633,884
Turnover
-€398,707
Other operating income
-€589,509
Goods and materials
+€233,414
Services and other goods
-€110,236
Staff costs
+€466,493
Depreciation
+€42,054
Write-downs
-€240,820
Provisions
-€10,000
Other operating charges
+€27,144
Other operating items
+€164,861
Financial income
+€23,321
Financial charges
+€35,968
Taxes
+€37,714
Result 2025
€315,579
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.
From operations
+€701,607
Investment
-€796
Financing
-€650,000
Cash 2024
€263,574
From operations (derived)
+€701,607
Net result for the year
+€315,579
Depreciation
+€54,336
Stocks and contracts
+€281,045
Receivables within one year
-€510,659
Deferred charges and accrued income
+€28,545
Trade debts
+€644,235
Tax, wage and social debts
-€198,553
Accrued charges and deferred income
+€87,079
Investment (derived)
-€796
Investment in fixed assets (net)
-€796
Financing
-€650,000
Debts after one year
-€650,000
Contributions, distributions and other
-€0
Cash 2025
€314,385
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,517,278 | €5,715,618 | +€198,340 | +3.6% |
| Fixed assets | 21/28 | €117,774 | €64,234 | -€53,540 | -45.5% |
| Tangible fixed assets | 22/27 | €117,575 | €64,035 | -€53,540 | -45.5% |
| Plant, machinery and equipment | 23 | €110,055 | €62,011 | -€48,044 | -43.7% |
| Furniture and vehicles | 24 | €7,520 | €2,023 | -€5,497 | -73.1% |
| Financial fixed assets | 28 | €199 | €199 | = | 0.0% |
| Other financial fixed assets | 284/8 | €199 | €199 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €199 | €199 | = | 0.0% |
| Current assets | 29/58 | €5,399,504 | €5,651,384 | +€251,880 | +4.7% |
| Stocks and contracts in progress | 3 | €1,795,260 | €1,514,215 | -€281,045 | -15.7% |
| Stocks | 30/36 | €1,795,260 | €1,514,215 | -€281,045 | -15.7% |
| Raw materials and consumables | 30/31 | €524,306 | €550,436 | +€26,130 | +5.0% |
| Work in progress | 32 | €1,162,725 | €806,405 | -€356,320 | -30.6% |
| Finished goods | 33 | €108,229 | €157,374 | +€49,145 | +45.4% |
| Amounts receivable within one year | 40/41 | €3,312,125 | €3,822,784 | +€510,659 | +15.4% |
| Trade receivables | 40 | €1,514,855 | €1,673,400 | +€158,545 | +10.5% |
| Other amounts receivable | 41 | €1,797,270 | €2,149,384 | +€352,114 | +19.6% |
| Cash at bank and in hand | 54/58 | €263,574 | €314,385 | +€50,811 | +19.3% |
| Deferred charges and accrued income | 490/1 | €28,545 | - | -€28,545 | |
| Total equity and liabilities | 10/49 | €5,517,278 | €5,715,618 | +€198,340 | +3.6% |
| Equity | 10/15 | €3,197,544 | €3,513,123 | +€315,579 | +9.9% |
| Contributions | 10/11 | €4,102,000 | €4,102,000 | = | 0.0% |
| Capital | 10 | €4,102,000 | €4,102,000 | = | 0.0% |
| Issued capital | 100 | €4,102,000 | €4,102,000 | = | 0.0% |
| Reserves | 13 | €130,200 | €130,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €130,200 | €130,200 | = | 0.0% |
| Legal reserve | 130 | €130,200 | €130,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,034,656 | -€719,077 | +€315,579 | +30.5% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,309,734 | €2,192,495 | -€117,239 | -5.1% |
| Amounts payable after more than one year | 17 | €850,000 | €200,000 | -€650,000 | -76.5% |
| Financial debts | 170/4 | €850,000 | €200,000 | -€650,000 | -76.5% |
| Other loans | 174 | €850,000 | €200,000 | -€650,000 | -76.5% |
| Amounts payable within one year | 42/48 | €1,398,392 | €1,844,074 | +€445,682 | +31.9% |
| Trade debts | 44 | €1,042,285 | €1,686,520 | +€644,235 | +61.8% |
| Suppliers | 440/4 | €1,042,285 | €1,686,520 | +€644,235 | +61.8% |
| Taxes, remuneration and social security | 45 | €356,107 | €157,554 | -€198,553 | -55.8% |
| Taxes | 450/3 | €51,468 | - | -€51,468 | |
| Remuneration and social security | 454/9 | €304,639 | €157,554 | -€147,085 | -48.3% |
| Accrued charges and deferred income | 492/3 | €61,342 | €148,421 | +€87,079 | +142.0% |
| Operating income | 70/76A | €9,411,281 | €8,587,925 | -€823,356 | -8.7% |
| Turnover | 70 | €8,630,697 | €8,231,990 | -€398,707 | -4.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€472,036 | -€307,175 | +€164,861 | +34.9% |
| Other operating income | 74 | €1,252,620 | €663,111 | -€589,509 | -47.1% |
| Operating charges | 60/66A | €8,671,874 | €8,263,826 | -€408,048 | -4.7% |
| Goods for resale, raw materials and consumables | 60 | €4,788,993 | €4,555,579 | -€233,414 | -4.9% |
| Purchases | 600/8 | €4,544,044 | €4,660,777 | +€116,733 | +2.6% |
| Change in stocks: decrease (increase) | 609 | €244,949 | -€105,197 | -€350,146 | |
| Services and other goods | 61 | €1,503,495 | €1,613,731 | +€110,236 | +7.3% |
| Remuneration, social security and pensions | 62 | €2,416,817 | €1,950,324 | -€466,493 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,390 | €54,336 | -€42,054 | -43.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€161,752 | €79,068 | +€240,820 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,000 | - | +€10,000 | |
| Other operating charges | 640/8 | €37,931 | €10,787 | -€27,144 | -71.6% |
| Operating profit (loss) | 9901 | €739,407 | €324,099 | -€415,308 | -56.2% |
| Financial income | 75/76B | €28,368 | €51,689 | +€23,321 | +82.2% |
| Recurring financial income | 75 | €28,368 | €51,189 | +€22,821 | +80.4% |
| Other financial income | 752/9 | €28,368 | €51,189 | +€22,821 | +80.4% |
| Non-recurring financial income | 76B | - | €500 | +€500 | |
| Financial charges | 65/66B | €93,422 | €57,454 | -€35,968 | -38.5% |
| Recurring financial charges | 65 | €93,422 | €57,454 | -€35,968 | -38.5% |
| Debt charges | 650 | €56,939 | €34,198 | -€22,741 | -39.9% |
| Other financial charges | 652/9 | €36,483 | €23,256 | -€13,227 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €674,353 | €318,334 | -€356,019 | -52.8% |
| Income taxes | 67/77 | €40,469 | €2,755 | -€37,714 | -93.2% |
| Taxes | 670/3 | €51,468 | €2,755 | -€48,713 | -94.6% |
| Tax adjustments and reversals of tax provisions | 77 | €10,999 | - | -€10,999 | |
| Profit (loss) for the period | 9904 | €633,884 | €315,579 | -€318,305 | -50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €633,884 | €315,579 | -€318,305 | -50.2% |
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 5 October 2026 via checked.be.