Grand Tour: what changed
Grand Tour
Largest movements
- Stocks and contracts -€36,002
down €36,002 (-100%), from €36,002 to €0
- Cash +€10,442
up €10,442 (+1,476%), from €708 to €11,149
mainly Stocks and contracts (+€36,002) and Net result for the year (+€21,506)
- Receivables within one year -€1,531
down €1,531 (-20.9%), from €7,313 to €5,782
- Other debts -€49,369
down €49,369 (-100%), from €49,369 to €0
- Profit (loss) carried forward +€21,506
up €21,506 (+17.2%), from -€125,392 to -€103,886
- Tax, wage and social debts +€817
new in 2025: €817
- Gross operating margin +€29,265
up €29,265, from -€653 to €28,612
- Other operating charges +€6,257
up €6,257 (+778%), from €805 to €7,062
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,023 | €16,931 | -€27,092 | -61.5% |
| Current assets | 29/58 | €44,023 | €16,931 | -€27,092 | -61.5% |
| Stocks and contracts in progress | 3 | €36,002 | €0 | -€36,002 | -100% |
| Stocks | 30/36 | €36,002 | €0 | -€36,002 | -100% |
| Amounts receivable within one year | 40/41 | €7,313 | €5,782 | -€1,531 | -20.9% |
| Other amounts receivable | 41 | €7,313 | €5,782 | -€1,531 | -20.9% |
| Cash at bank and in hand | 54/58 | €708 | €11,149 | +€10,442 | +1,476% |
| Total equity and liabilities | 10/49 | €44,023 | €16,931 | -€27,092 | -61.5% |
| Equity | 10/15 | -€5,392 | €16,114 | +€21,506 | |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Capital | 10 | €120,000 | - | -€120,000 | |
| Issued capital | 100 | €120,000 | - | -€120,000 | |
| Profit (loss) carried forward | 14 | -€125,392 | -€103,886 | +€21,506 | +17.2% |
| Amounts payable | 17/49 | €49,415 | €817 | -€48,597 | -98.3% |
| Amounts payable within one year | 42/48 | €49,415 | €817 | -€48,597 | -98.3% |
| Trade debts | 44 | €45 | €0 | -€45 | -100% |
| Suppliers | 440/4 | €45 | €0 | -€45 | -100% |
| Taxes, remuneration and social security | 45 | - | €817 | +€817 | |
| Taxes | 450/3 | - | €817 | +€817 | |
| Other amounts payable | 47/48 | €49,369 | €0 | -€49,369 | -100% |
| Other operating charges | 640/8 | €805 | €7,062 | +€6,257 | +778% |
| Gross operating margin | 9900 | -€653 | €28,612 | +€29,265 | |
| Operating profit (loss) | 9901 | -€1,457 | €21,551 | +€23,008 | |
| Financial charges | 65/66B | €44 | €45 | +€1 | +2.9% |
| Recurring financial charges | 65 | €44 | €45 | +€1 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,501 | €21,506 | +€23,007 | |
| Profit (loss) for the period | 9904 | -€1,501 | €21,506 | +€23,007 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,501 | €21,506 | +€23,007 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.