GRANDUCA: 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.
GRANDUCA
Largest movements
- Receivables within one year -€4,539
down €4,539 (-39.1%), from €11,602 to €7,064
of which Trade receivables: -€4,735
- Stocks and contracts -€3,928
down €3,928 (-18.8%), from €20,898 to €16,970
- Tangible fixed assets +€2,629
up €2,629 (+28.4%), from €9,249 to €11,878
of which Furniture and vehicles: +€4,324
- Cash +€2,335
up €2,335 (+3.2%), from €73,060 to €75,395
mainly Other debts (+€7,876) and Depreciation (+€5,357)
- Profit (loss) carried forward -€14,507
down €14,507 (-57.5%), from -€25,248 to -€39,756
- Other debts +€7,876
up €7,876 (+32.8%), from €23,994 to €31,870
- Current portion of long-term debt +€3,334
up €3,334 (+178%), from €1,873 to €5,208
- Trade debts +€3,205
up €3,205 (+8.1%), from €39,541 to €42,746
- Tax, wage and social debts -€1,987
down €1,987 (-9.2%), from €21,709 to €19,722
of which Taxes: -€2,044
- Staff costs -€15,387
down €15,387 (-15.8%), from €97,561 to €82,174
- Gross operating margin -€13,933
down €13,933 (-14.6%), from €95,745 to €81,812
- Financial charges +€1,929
up €1,929 (+50.4%), from €3,825 to €5,754
- Depreciation +€993
up €993 (+22.7%), from €4,364 to €5,357
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 | €114,809 | €111,306 | -€3,503 | -3.1% |
| Fixed assets | 21/28 | €9,249 | €11,878 | +€2,629 | +28.4% |
| Tangible fixed assets | 22/27 | €9,249 | €11,878 | +€2,629 | +28.4% |
| Plant, machinery and equipment | 23 | €4,118 | €4,347 | +€229 | +5.6% |
| Furniture and vehicles | 24 | - | €4,324 | +€4,324 | |
| Other tangible fixed assets | 26 | €5,131 | €3,207 | -€1,924 | -37.5% |
| Current assets | 29/58 | €105,561 | €99,428 | -€6,132 | -5.8% |
| Stocks and contracts in progress | 3 | €20,898 | €16,970 | -€3,928 | -18.8% |
| Stocks | 30/36 | €20,898 | €16,970 | -€3,928 | -18.8% |
| Amounts receivable within one year | 40/41 | €11,602 | €7,064 | -€4,539 | -39.1% |
| Trade receivables | 40 | €8,709 | €3,974 | -€4,735 | -54.4% |
| Other amounts receivable | 41 | €2,893 | €3,090 | +€196 | +6.8% |
| Cash at bank and in hand | 54/58 | €73,060 | €75,395 | +€2,335 | +3.2% |
| Total equity and liabilities | 10/49 | €114,809 | €111,306 | -€3,503 | -3.1% |
| Equity | 10/15 | €25,716 | €11,209 | -€14,507 | -56.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,365 | €32,365 | = | 0.0% |
| Distributable reserves | 133 | €32,365 | €32,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,248 | -€39,756 | -€14,507 | -57.5% |
| Amounts payable | 17/49 | €89,093 | €100,097 | +€11,004 | +12.4% |
| Amounts payable after more than one year | 17 | €1,976 | €552 | -€1,424 | -72.1% |
| Financial debts | 170/4 | €1,976 | €552 | -€1,424 | -72.1% |
| Amounts payable within one year | 42/48 | €87,117 | €99,545 | +€12,428 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €1,873 | €5,208 | +€3,334 | +178% |
| Trade debts | 44 | €39,541 | €42,746 | +€3,205 | +8.1% |
| Suppliers | 440/4 | €39,541 | €42,746 | +€3,205 | +8.1% |
| Taxes, remuneration and social security | 45 | €21,709 | €19,722 | -€1,987 | -9.2% |
| Taxes | 450/3 | €13,553 | €11,509 | -€2,044 | -15.1% |
| Remuneration and social security | 454/9 | €8,156 | €8,213 | +€57 | +0.7% |
| Other amounts payable | 47/48 | €23,994 | €31,870 | +€7,876 | +32.8% |
| Remuneration, social security and pensions | 62 | €97,561 | €82,174 | -€15,387 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,364 | €5,357 | +€993 | +22.7% |
| Other operating charges | 640/8 | €2,634 | €2,641 | +€7 | +0.3% |
| Non-recurring operating charges | 66A | €5,595 | - | -€5,595 | |
| Gross operating margin | 9900 | €95,745 | €81,812 | -€13,933 | -14.6% |
| Operating profit (loss) | 9901 | -€14,409 | -€8,360 | +€6,049 | +42.0% |
| Financial income | 75/76B | €6 | €1 | -€5 | -83.0% |
| Recurring financial income | 75 | €6 | €1 | -€5 | -83.0% |
| Financial charges | 65/66B | €3,825 | €5,754 | +€1,929 | +50.4% |
| Recurring financial charges | 65 | €3,825 | €5,754 | +€1,929 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,228 | -€14,113 | +€4,115 | +22.6% |
| Income taxes | 67/77 | €390 | €394 | +€4 | +0.9% |
| Profit (loss) for the period | 9904 | -€18,618 | -€14,507 | +€4,111 | +22.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,618 | -€14,507 | +€4,111 | +22.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.