GRAND-DIRE: 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.
GRAND-DIRE
Largest movements
- Receivables within one year +€112,445
up €112,445 (+197%), from €57,102 to €169,547
of which Other amounts receivable: +€111,591
- Tangible fixed assets +€79,031
up €79,031 (+28.5%), from €277,588 to €356,619
of which Plant, machinery and equipment: +€56,212
- Intangible fixed assets +€46,780
new in 2025: €46,780
- Cash +€21,343
up €21,343 (+4,742,984%), from €0 to €21,344
mainly Net result for the year (+€170,068) and Depreciation (+€59,517)
- Deferred charges and accrued income +€14,310
up €14,310 (+51.1%), from €28,008 to €42,318
- Profit (loss) carried forward +€170,068
up €170,068 (+358%), from €47,538 to €217,605
- Tax, wage and social debts +€42,305
up €42,305 (+222%), from €19,061 to €61,366
of which Taxes: +€42,143
- Debts after one year +€39,301
up €39,301 (+15.3%), from €257,126 to €296,427
of which Other amounts payable: +€27,235
- Current portion of long-term debt +€22,438
up €22,438 (+93.6%), from €23,977 to €46,416
- Short-term financial debts -€8,136
no longer reported in 2025 (was €8,136)
- Gross operating margin +€111,300
up €111,300 (+47.4%), from €234,619 to €345,919
- Taxes +€42,227
up €42,227 (+283%), from €14,916 to €57,143
- Depreciation +€27,957
up €27,957 (+88.6%), from €31,560 to €59,517
- Staff costs +€12,492
up €12,492 (+42.0%), from €29,738 to €42,230
- Financial charges +€4,900
up €4,900 (+31.9%), from €15,368 to €20,268
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.
Derived cash bridge
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 | €368,678 | €640,208 | +€271,530 | +73.6% |
| Fixed assets | 21/28 | €283,568 | €406,999 | +€123,431 | +43.5% |
| Intangible fixed assets | 21 | - | €46,780 | +€46,780 | |
| Tangible fixed assets | 22/27 | €277,588 | €356,619 | +€79,031 | +28.5% |
| Land and buildings | 22 | €142,558 | €134,758 | -€7,800 | -5.5% |
| Plant, machinery and equipment | 23 | €72,466 | €128,679 | +€56,212 | +77.6% |
| Furniture and vehicles | 24 | €62,563 | €93,182 | +€30,619 | +48.9% |
| Financial fixed assets | 28 | €5,980 | €3,600 | -€2,380 | -39.8% |
| Current assets | 29/58 | €85,110 | €233,209 | +€148,099 | +174% |
| Amounts receivable within one year | 40/41 | €57,102 | €169,547 | +€112,445 | +197% |
| Trade receivables | 40 | €250 | €1,104 | +€854 | +342% |
| Other amounts receivable | 41 | €56,852 | €168,443 | +€111,591 | +196% |
| Cash at bank and in hand | 54/58 | €0 | €21,344 | +€21,343 | +4,742,984% |
| Deferred charges and accrued income | 490/1 | €28,008 | €42,318 | +€14,310 | +51.1% |
| Total equity and liabilities | 10/49 | €368,678 | €640,208 | +€271,530 | +73.6% |
| Equity | 10/15 | €50,538 | €220,605 | +€170,068 | +337% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,538 | €217,605 | +€170,068 | +358% |
| Amounts payable | 17/49 | €318,140 | €419,602 | +€101,462 | +31.9% |
| Amounts payable after more than one year | 17 | €257,126 | €296,427 | +€39,301 | +15.3% |
| Financial debts | 170/4 | €245,261 | €257,327 | +€12,066 | +4.9% |
| Other amounts payable | 178/9 | €11,865 | €39,100 | +€27,235 | +230% |
| Amounts payable within one year | 42/48 | €55,775 | €119,282 | +€63,508 | +114% |
| Current portion of amounts payable after more than one year | 42 | €23,977 | €46,416 | +€22,438 | +93.6% |
| Financial debts | 43 | €8,136 | - | -€8,136 | |
| Credit institutions | 430/8 | €8,136 | - | -€8,136 | |
| Trade debts | 44 | €4,600 | €11,501 | +€6,900 | +150% |
| Suppliers | 440/4 | €4,600 | €11,501 | +€6,900 | +150% |
| Taxes, remuneration and social security | 45 | €19,061 | €61,366 | +€42,305 | +222% |
| Taxes | 450/3 | €14,916 | €57,059 | +€42,143 | +283% |
| Remuneration and social security | 454/9 | €4,145 | €4,307 | +€162 | +3.9% |
| Accrued charges and deferred income | 492/3 | €5,239 | €3,892 | -€1,346 | -25.7% |
| Remuneration, social security and pensions | 62 | €29,738 | €42,230 | +€12,492 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,560 | €59,517 | +€27,957 | +88.6% |
| Other operating charges | 640/8 | €2,219 | €1,821 | -€397 | -17.9% |
| Gross operating margin | 9900 | €234,619 | €345,919 | +€111,300 | +47.4% |
| Operating profit (loss) | 9901 | €171,102 | €242,350 | +€71,248 | +41.6% |
| Financial income | 75/76B | €416 | €5,128 | +€4,712 | +1,132% |
| Recurring financial income | 75 | €416 | €5,128 | +€4,712 | +1,132% |
| Financial charges | 65/66B | €15,368 | €20,268 | +€4,900 | +31.9% |
| Recurring financial charges | 65 | €15,368 | €20,268 | +€4,900 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €156,151 | €227,211 | +€71,060 | +45.5% |
| Income taxes | 67/77 | €14,916 | €57,143 | +€42,227 | +283% |
| Profit (loss) for the period | 9904 | €141,235 | €170,068 | +€28,833 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €141,235 | €170,068 | +€28,833 | +20.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.