GRAND DUC: 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 DUC
Largest movements
- Receivables after one year +€42,169
up €42,169 (+18.5%), from €227,817 to €269,986
- Intangible fixed assets +€29,893
new in 2024: €29,893
- Cash +€14,758
up €14,758 (+13.9%), from €106,040 to €120,798
mainly Net result for the year (+€108,346) and Receivables within one year (+€10,295)
- Receivables within one year -€10,295
down €10,295 (-7.7%), from €133,748 to €123,453
of which Other amounts receivable: -€8,576
- Profit (loss) carried forward +€84,346
up €84,346 (+41.3%), from €204,291 to €288,637
- Trade debts -€8,596
down €8,596 (-26.3%), from €32,653 to €24,056
- Tax, wage and social debts +€6,525
up €6,525 (+14.3%), from €45,606 to €52,131
of which Taxes: +€7,125
- Gross operating margin -€54,034
down €54,034 (-30.4%), from €177,728 to €123,694
- Purchases and services +€39,550
up €39,550 (+5.1%), from €775,338 to €814,888
- Turnover -€14,721
down €14,721 (-1.6%), from €942,158 to €927,437
- Other operating charges -€13,154
down €13,154 (-69.7%), from €18,867 to €5,713
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €477,010 | €557,984 | +€80,974 | +17.0% |
| Fixed assets | 21/28 | €5,772 | €36,613 | +€30,841 | +534.3% |
| Intangible fixed assets | 21 | - | €29,893 | +€29,893 | |
| Tangible fixed assets | 22/27 | €1,259 | €2,207 | +€947 | +75.2% |
| Plant, machinery and equipment | 23 | €1,259 | €931 | -€329 | -26.1% |
| Furniture and vehicles | 24 | - | €1,276 | +€1,276 | |
| Financial fixed assets | 28 | €4,513 | €4,513 | = | 0.0% |
| Current assets | 29/58 | €471,238 | €521,371 | +€50,133 | +10.6% |
| Amounts receivable after more than one year | 29 | €227,817 | €269,986 | +€42,169 | +18.5% |
| Trade receivables | 290 | €227,817 | €269,986 | +€42,169 | +18.5% |
| Stocks and contracts in progress | 3 | €2,963 | €6,061 | +€3,099 | +104.6% |
| Stocks | 30/36 | €2,963 | €6,061 | +€3,099 | +104.6% |
| Amounts receivable within one year | 40/41 | €133,748 | €123,453 | -€10,295 | -7.7% |
| Trade receivables | 40 | €27,213 | €25,495 | -€1,719 | -6.3% |
| Other amounts receivable | 41 | €106,534 | €97,958 | -€8,576 | -8.0% |
| Cash at bank and in hand | 54/58 | €106,040 | €120,798 | +€14,758 | +13.9% |
| Deferred charges and accrued income | 490/1 | €671 | €1,074 | +€403 | +60.1% |
| Total equity and liabilities | 10/49 | €477,010 | €557,984 | +€80,974 | +17.0% |
| Equity | 10/15 | €224,751 | €309,097 | +€84,346 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,291 | €288,637 | +€84,346 | +41.3% |
| Amounts payable | 17/49 | €252,259 | €248,887 | -€3,372 | -1.3% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €98,259 | €98,887 | +€628 | +0.6% |
| Trade debts | 44 | €32,653 | €24,056 | -€8,596 | -26.3% |
| Suppliers | 440/4 | €32,653 | €24,056 | -€8,596 | -26.3% |
| Taxes, remuneration and social security | 45 | €45,606 | €52,131 | +€6,525 | +14.3% |
| Taxes | 450/3 | €45,006 | €52,131 | +€7,125 | +15.8% |
| Remuneration and social security | 454/9 | €600 | - | -€600 | |
| Other amounts payable | 47/48 | €20,000 | €22,699 | +€2,699 | +13.5% |
| Accrued charges and deferred income | 492/3 | €4,000 | - | -€4,000 | |
| Turnover | 70 | €942,158 | €927,437 | -€14,721 | -1.6% |
| Non-recurring operating income | 76A | €10,909 | €11,146 | +€237 | +2.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €775,338 | €814,888 | +€39,550 | +5.1% |
| Remuneration, social security and pensions | 62 | €25 | - | -€25 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €829 | €471 | -€358 | -43.2% |
| Other operating charges | 640/8 | €18,867 | €5,713 | -€13,154 | -69.7% |
| Non-recurring operating charges | 66A | €15 | €0 | -€15 | -99.4% |
| Gross operating margin | 9900 | €177,728 | €123,694 | -€54,034 | -30.4% |
| Operating profit (loss) | 9901 | €157,992 | €117,510 | -€40,482 | -25.6% |
| Financial income | 75/76B | €15,441 | €20,593 | +€5,152 | +33.4% |
| Recurring financial income | 75 | €15,441 | €20,593 | +€5,152 | +33.4% |
| Financial charges | 65/66B | €8,173 | €6,538 | -€1,635 | -20.0% |
| Recurring financial charges | 65 | €8,173 | €6,538 | -€1,635 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €165,260 | €131,565 | -€33,695 | -20.4% |
| Income taxes | 67/77 | €21,816 | €23,219 | +€1,403 | +6.4% |
| Profit (loss) for the period | 9904 | €143,444 | €108,346 | -€35,099 | -24.5% |
| Profit (loss) for the period to be appropriated | 9905 | €143,444 | €108,346 | -€35,099 | -24.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.