Grand: 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.
Grand
Largest movements
- Tangible fixed assets +€393,768
up €393,768 (+1236.8%), from €31,837 to €425,605
of which Land and buildings: +€396,768
- Cash +€50,091
up €50,091 (+194.3%), from €25,782 to €75,873
mainly Debts after one year (+€433,143) and Depreciation (+€25,292)
- Receivables within one year +€15,401
up €15,401 (+149.7%), from €10,290 to €25,690
of which Trade receivables: +€12,466
- Debts after one year +€433,143
up €433,143 (+4139.5%), from €10,464 to €443,606
- Reserves -€25,481
down €25,481 (-83.9%), from €30,376 to €4,894
- Other debts +€20,659
up €20,659 (+290.7%), from €7,105 to €27,764
- Current portion of long-term debt +€17,649
up €17,649 (+338.8%), from €5,209 to €22,857
- Trade debts +€14,211
up €14,211 (+1114.1%), from €1,276 to €15,487
- Gross operating margin -€24,898
down €24,898 (-88.2%), from €28,218 to €3,319
- Depreciation +€14,302
up €14,302 (+130.1%), from €10,991 to €25,292
- Taxes -€3,996
down €3,996 (-97.3%), from €4,105 to €109
- Other operating charges -€627
down €627 (-22.7%), from €2,761 to €2,134
- Financial charges +€557
up €557 (+78.5%), from €709 to €1,266
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 | €69,054 | €527,974 | +€458,920 | +664.6% |
| Fixed assets | 21/28 | €32,842 | €426,380 | +€393,538 | +1198.3% |
| Intangible fixed assets | 21 | €1,005 | €775 | -€230 | -22.9% |
| Tangible fixed assets | 22/27 | €31,837 | €425,605 | +€393,768 | +1236.8% |
| Land and buildings | 22 | - | €396,768 | +€396,768 | |
| Plant, machinery and equipment | 23 | €7,343 | €12,614 | +€5,272 | +71.8% |
| Furniture and vehicles | 24 | €24,494 | €16,223 | -€8,271 | -33.8% |
| Current assets | 29/58 | €36,212 | €101,594 | +€65,382 | +180.6% |
| Amounts receivable within one year | 40/41 | €10,290 | €25,690 | +€15,401 | +149.7% |
| Trade receivables | 40 | €10,267 | €22,733 | +€12,466 | +121.4% |
| Other amounts receivable | 41 | €22 | €2,958 | +€2,935 | +13115.0% |
| Cash at bank and in hand | 54/58 | €25,782 | €75,873 | +€50,091 | +194.3% |
| Deferred charges and accrued income | 490/1 | €140 | €30 | -€110 | -78.4% |
| Total equity and liabilities | 10/49 | €69,054 | €527,974 | +€458,920 | +664.6% |
| Equity | 10/15 | €35,376 | €9,894 | -€25,481 | -72.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,376 | €4,894 | -€25,481 | -83.9% |
| Distributable reserves | 133 | €30,376 | €4,894 | -€25,481 | -83.9% |
| Amounts payable | 17/49 | €33,679 | €518,080 | +€484,401 | +1438.3% |
| Amounts payable after more than one year | 17 | €10,464 | €443,606 | +€433,143 | +4139.5% |
| Financial debts | 170/4 | €10,464 | €443,606 | +€433,143 | +4139.5% |
| Amounts payable within one year | 42/48 | €23,215 | €74,473 | +€51,258 | +220.8% |
| Current portion of amounts payable after more than one year | 42 | €5,209 | €22,857 | +€17,649 | +338.8% |
| Trade debts | 44 | €1,276 | €15,487 | +€14,211 | +1114.1% |
| Suppliers | 440/4 | €1,276 | €15,487 | +€14,211 | +1114.1% |
| Taxes, remuneration and social security | 45 | €9,625 | €8,365 | -€1,260 | -13.1% |
| Taxes | 450/3 | €9,625 | €8,365 | -€1,260 | -13.1% |
| Other amounts payable | 47/48 | €7,105 | €27,764 | +€20,659 | +290.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,991 | €25,292 | +€14,302 | +130.1% |
| Other operating charges | 640/8 | €2,761 | €2,134 | -€627 | -22.7% |
| Gross operating margin | 9900 | €28,218 | €3,319 | -€24,898 | -88.2% |
| Operating profit (loss) | 9901 | €14,466 | -€24,107 | -€38,573 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.7% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.7% |
| Financial charges | 65/66B | €709 | €1,266 | +€557 | +78.5% |
| Recurring financial charges | 65 | €709 | €1,266 | +€557 | +78.5% |
| Profit (loss) for the period before taxes | 9903 | €13,763 | -€25,372 | -€39,135 | |
| Income taxes | 67/77 | €4,105 | €109 | -€3,996 | -97.3% |
| Profit (loss) for the period | 9904 | €9,658 | -€25,481 | -€35,139 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,658 | -€25,481 | -€35,139 |
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 4 October 2026 via checked.be.