GRANDE: 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.
GRANDE
Largest movements
- Cash -€39,247
down €39,247 (-21.8%), from €179,892 to €140,645
mainly Contributions, distributions and other (-€65,395) and Tax, wage and social debts (-€37,140)
- Receivables after one year +€24,954
new in 2025: €24,954
- Tangible fixed assets -€21,897
down €21,897 (-13.0%), from €168,925 to €147,028
of which Furniture and vehicles: -€13,538
- Receivables within one year -€16,178
down €16,178 (-36.7%), from €44,028 to €27,850
of which Other amounts receivable: -€19,510
- Tax, wage and social debts -€37,140
down €37,140 (-56.2%), from €66,142 to €29,002
- Debts after one year -€33,806
down €33,806 (-49.5%), from €68,243 to €34,437
- Reserves +€13,031
up €13,031 (+2.9%), from €448,014 to €461,045
of which Distributable reserves: +€13,031
- Gross operating margin -€71,916
down €71,916 (-34.1%), from €210,994 to €139,079
- Taxes -€20,125
down €20,125 (-35.0%), from €57,475 to €37,350
- Depreciation -€10,988
down €10,988 (-33.4%), from €32,885 to €21,897
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 | €667,793 | €614,117 | -€53,676 | -8.0% |
| Fixed assets | 21/28 | €171,925 | €150,028 | -€21,897 | -12.7% |
| Tangible fixed assets | 22/27 | €168,925 | €147,028 | -€21,897 | -13.0% |
| Land and buildings | 22 | €98,854 | €90,495 | -€8,359 | -8.5% |
| Furniture and vehicles | 24 | €70,072 | €56,533 | -€13,538 | -19.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €495,868 | €464,089 | -€31,779 | -6.4% |
| Amounts receivable after more than one year | 29 | - | €24,954 | +€24,954 | |
| Other amounts receivable | 291 | - | €24,954 | +€24,954 | |
| Stocks and contracts in progress | 3 | €20,285 | €17,238 | -€3,047 | -15.0% |
| Stocks | 30/36 | €20,285 | €17,238 | -€3,047 | -15.0% |
| Amounts receivable within one year | 40/41 | €44,028 | €27,850 | -€16,178 | -36.7% |
| Trade receivables | 40 | €24,518 | €27,850 | +€3,332 | +13.6% |
| Other amounts receivable | 41 | €19,510 | - | -€19,510 | |
| Current investments | 50/53 | €242,877 | €245,012 | +€2,135 | +0.9% |
| Cash at bank and in hand | 54/58 | €179,892 | €140,645 | -€39,247 | -21.8% |
| Deferred charges and accrued income | 490/1 | €8,786 | €8,390 | -€396 | -4.5% |
| Total equity and liabilities | 10/49 | €667,793 | €614,117 | -€53,676 | -8.0% |
| Equity | 10/15 | €475,780 | €488,811 | +€13,031 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €448,014 | €461,045 | +€13,031 | +2.9% |
| 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 | €446,154 | €459,185 | +€13,031 | +2.9% |
| Profit (loss) carried forward | 14 | €9,167 | €9,167 | = | 0.0% |
| Amounts payable | 17/49 | €192,013 | €125,306 | -€66,707 | -34.7% |
| Amounts payable after more than one year | 17 | €68,243 | €34,437 | -€33,806 | -49.5% |
| Financial debts | 170/4 | €68,243 | €34,437 | -€33,806 | -49.5% |
| Amounts payable within one year | 42/48 | €103,604 | €71,118 | -€32,487 | -31.4% |
| Current portion of amounts payable after more than one year | 42 | €36,325 | €37,972 | +€1,647 | +4.5% |
| Trade debts | 44 | €1,137 | €1,481 | +€343 | +30.2% |
| Suppliers | 440/4 | €1,137 | €1,481 | +€343 | +30.2% |
| Advances received on contracts in progress | 46 | - | €2,662 | +€2,662 | |
| Taxes, remuneration and social security | 45 | €66,142 | €29,002 | -€37,140 | -56.2% |
| Taxes | 450/3 | €66,142 | €29,002 | -€37,140 | -56.2% |
| Accrued charges and deferred income | 492/3 | €20,166 | €19,751 | -€414 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,885 | €21,897 | -€10,988 | -33.4% |
| Other operating charges | 640/8 | €1,223 | €600 | -€623 | -51.0% |
| Gross operating margin | 9900 | €210,994 | €139,079 | -€71,916 | -34.1% |
| Operating profit (loss) | 9901 | €176,887 | €116,582 | -€60,305 | -34.1% |
| Financial income | 75/76B | €3,682 | €2,615 | -€1,067 | -29.0% |
| Recurring financial income | 75 | €3,682 | €2,615 | -€1,067 | -29.0% |
| Financial charges | 65/66B | €4,160 | €3,421 | -€739 | -17.8% |
| Recurring financial charges | 65 | €4,160 | €3,421 | -€739 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €176,409 | €115,776 | -€60,633 | -34.4% |
| Income taxes | 67/77 | €57,475 | €37,350 | -€20,125 | -35.0% |
| Profit (loss) for the period | 9904 | €118,934 | €78,426 | -€40,508 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €118,934 | €78,426 | -€40,508 | -34.1% |
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 6 October 2026 via checked.be.