Grand Départ: what changed
What changed
Grand Départ
NACE 47.632, Retail sale of bicycles
filed annual accounts (NBB)
Net result for the year
€5,236
2025 · €5,849-€613
Equity
€256,563
2025 · €261,510-€4,947
Cash
€115,547
2025 · €110,140+€5,407
Balance sheet total
€1.0m
2025 · €1.2m-€142,581
Largest movements
Assets
- Stocks and contracts -€118,628
down €118,628 (-14.8%), from €802,782 to €684,154
of which Stocks: -€138,628
- Receivables within one year -€21,649
down €21,649 (-17.8%), from €121,530 to €99,881
of which Trade receivables: -€15,374
Equity and liabilities
- Trade debts -€211,980
down €211,980 (-51.6%), from €410,647 to €198,667
- Debts after one year +€47,155
up €47,155 (+102%), from €46,044 to €93,199
- Current portion of long-term debt +€19,082
up €19,082 (+76.5%), from €24,931 to €44,013
Income statement
- Gross operating margin +€107,702
up €107,702 (+43.2%), from €249,066 to €356,769
- Staff costs +€77,164
up €77,164 (+45.8%), from €168,408 to €245,572
- Taxes +€14,993
up €14,993 (+394%), from €3,804 to €18,797
- Financial charges +€8,216
up €8,216 (+20.2%), from €40,581 to €48,797
- Depreciation +€5,878
up €5,878 (+19.8%), from €29,702 to €35,580
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€5,849
Gross operating margin
+€107,702
Staff costs
-€77,164
Depreciation
-€5,878
Other operating charges
-€2,166
Financial income
+€101
Financial charges
-€8,216
Taxes
-€14,993
Result 2026
€5,236
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€22,778
Investment
-€27,869
Financing
+€56,053
Cash 2025
€110,140
From operations (derived)
-€22,778
Net result for the year
+€5,236
Depreciation
+€35,580
Stocks and contracts
+€118,628
Receivables within one year
+€21,649
Trade debts
-€211,980
Tax, wage and social debts
+€8,109
Investment (derived)
-€27,869
Investment in fixed assets (net)
-€27,869
Financing
+€56,053
Debts after one year
+€47,155
Current portion of long-term debt
+€19,082
Contributions, distributions and other
-€10,183
Cash 2026
€115,547
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,169,416 | €1,026,835 | -€142,581 | -12.2% |
| Fixed assets | 21/28 | €134,964 | €127,253 | -€7,711 | -5.7% |
| Tangible fixed assets | 22/27 | €126,868 | €119,157 | -€7,711 | -6.1% |
| Land and buildings | 22 | €104,932 | €86,870 | -€18,062 | -17.2% |
| Plant, machinery and equipment | 23 | €8,688 | €6,595 | -€2,093 | -24.1% |
| Furniture and vehicles | 24 | €13,248 | €25,692 | +€12,444 | +93.9% |
| Financial fixed assets | 28 | €8,096 | €8,096 | = | 0.0% |
| Current assets | 29/58 | €1,034,452 | €899,582 | -€134,870 | -13.0% |
| Stocks and contracts in progress | 3 | €802,782 | €684,154 | -€118,628 | -14.8% |
| Stocks | 30/36 | €802,782 | €664,154 | -€138,628 | -17.3% |
| Contracts in progress | 37 | - | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €121,530 | €99,881 | -€21,649 | -17.8% |
| Trade receivables | 40 | €113,741 | €98,367 | -€15,374 | -13.5% |
| Other amounts receivable | 41 | €7,789 | €1,514 | -€6,275 | -80.6% |
| Cash at bank and in hand | 54/58 | €110,140 | €115,547 | +€5,407 | +4.9% |
| Total equity and liabilities | 10/49 | €1,169,416 | €1,026,835 | -€142,581 | -12.2% |
| Equity | 10/15 | €261,510 | €256,563 | -€4,947 | -1.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €257,860 | €257,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €256,000 | €256,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €650 | -€4,297 | -€4,947 | |
| Amounts payable | 17/49 | €907,906 | €770,272 | -€137,634 | -15.2% |
| Amounts payable after more than one year | 17 | €46,044 | €93,199 | +€47,155 | +102% |
| Financial debts | 170/4 | €46,044 | €93,199 | +€47,155 | +102% |
| Amounts payable within one year | 42/48 | €861,862 | €677,074 | -€184,789 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €24,931 | €44,013 | +€19,082 | +76.5% |
| Financial debts | 43 | €350,000 | €350,000 | = | 0.0% |
| Credit institutions | 430/8 | €350,000 | €350,000 | = | 0.0% |
| Trade debts | 44 | €410,647 | €198,667 | -€211,980 | -51.6% |
| Suppliers | 440/4 | €410,647 | €198,667 | -€211,980 | -51.6% |
| Taxes, remuneration and social security | 45 | €76,284 | €84,393 | +€8,109 | +10.6% |
| Taxes | 450/3 | €43,310 | €41,418 | -€1,891 | -4.4% |
| Remuneration and social security | 454/9 | €32,974 | €42,975 | +€10,001 | +30.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €168,408 | €245,572 | +€77,164 | +45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,702 | €35,580 | +€5,878 | +19.8% |
| Other operating charges | 640/8 | €962 | €3,128 | +€2,166 | +225% |
| Gross operating margin | 9900 | €249,066 | €356,769 | +€107,702 | +43.2% |
| Operating profit (loss) | 9901 | €49,994 | €72,489 | +€22,495 | +45.0% |
| Financial income | 75/76B | €241 | €342 | +€101 | +42.1% |
| Recurring financial income | 75 | €241 | €342 | +€101 | +42.1% |
| Financial charges | 65/66B | €40,581 | €48,797 | +€8,216 | +20.2% |
| Recurring financial charges | 65 | €40,581 | €48,797 | +€8,216 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €9,653 | €24,033 | +€14,380 | +149% |
| Income taxes | 67/77 | €3,804 | €18,797 | +€14,993 | +394% |
| Profit (loss) for the period | 9904 | €5,849 | €5,236 | -€613 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,849 | €5,236 | -€613 | -10.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.