GRANDUCA smart activities: what changed
What changed
GRANDUCA smart activities
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€2,754
2024 · €120,541-€117,787
Equity
€307,246
2024 · €304,492+€2,754
Cash
€148,683
2024 · €100,710+€47,973
Balance sheet total
€502,778
2024 · €445,860+€56,918
Largest movements
Assets
- Cash +€47,973
up €47,973 (+47.6%), from €100,710 to €148,683
mainly Trade debts (+€109,153) and Stocks and contracts (+€23,636)
- Tangible fixed assets +€30,301
up €30,301 (+13.4%), from €226,832 to €257,133
of which Furniture and vehicles: +€31,062
- Stocks and contracts -€23,636
down €23,636 (-37.4%), from €63,255 to €39,619
of which Stocks: -€23,636
- Deferred charges and accrued income +€19,506
up €19,506 (+770%), from €2,533 to €22,039
- Receivables within one year -€17,227
down €17,227 (-32.8%), from €52,531 to €35,304
of which Other amounts receivable: -€8,793
Equity and liabilities
- Trade debts +€109,153
up €109,153 (+3,121%), from €3,497 to €112,650
of which Suppliers: +€109,153
- Tax, wage and social debts -€31,479
down €31,479 (-68.6%), from €45,876 to €14,397
of which Taxes: -€31,479
- Debts after one year -€25,356
down €25,356 (-44.9%), from €56,470 to €31,114
of which Financial debts: -€25,356
Income statement
- Gross operating margin -€123,667
down €123,667 (-69.3%), from €178,448 to €54,781
- Purchases and services +€105,503
up €105,503 (+33.0%), from €319,453 to €424,956
- Taxes -€27,271
down €27,271 (-59.4%), from €45,876 to €18,605
- Financial charges +€8,234
up €8,234 (+88.6%), from €9,292 to €17,526
of which Financial charges: +€8,234
- Financial income -€6,852
down €6,852 (-84.8%), from €8,076 to €1,224
of which Financial income: -€6,852
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.
Result 2024
€120,541
Gross operating margin
-€123,667
Depreciation
-€10
Other operating charges
-€6,296
Financial income
-€6,852
Financial charges
-€8,234
Other financial items
+€1
Taxes
+€27,271
Result 2025
€2,754
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€112,353
Investment
-€40,176
Financing
-€24,203
Cash 2024
€100,710
From operations (derived)
+€112,353
Net result for the year
+€2,754
Depreciation
+€9,874
Stocks and contracts
+€23,636
Receivables within one year
+€17,227
Deferred charges and accrued income
-€19,506
Trade debts
+€109,153
Tax, wage and social debts
-€31,479
Other debts
+€694
Investment (derived)
-€40,176
Investment in fixed assets (net)
-€40,176
Financing
-€24,203
Debts after one year
-€25,356
Current portion of long-term debt
+€1,154
Contributions, distributions and other
-€0
Not broken down
-€2
Cash 2025
€148,683
brings cash intakes cash outdifference in the filed balance sheets themselves
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €445,860 | €502,778 | +€56,918 | +12.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €226,832 | €257,133 | +€30,301 | +13.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €226,832 | €257,133 | +€30,301 | +13.4% |
| Land and buildings | 22 | €215,423 | €213,044 | -€2,379 | -1.1% |
| Plant, machinery and equipment | 23 | €1,944 | €3,563 | +€1,619 | +83.3% |
| Furniture and vehicles | 24 | €9,465 | €40,527 | +€31,062 | +328% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €219,028 | €245,645 | +€26,617 | +12.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €63,255 | €39,619 | -€23,636 | -37.4% |
| Stocks | 30/36 | €63,255 | €39,619 | -€23,636 | -37.4% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €52,531 | €35,304 | -€17,227 | -32.8% |
| Trade receivables | 40 | €27,564 | €19,130 | -€8,434 | -30.6% |
| Other amounts receivable | 41 | €24,967 | €16,174 | -€8,793 | -35.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €100,710 | €148,683 | +€47,973 | +47.6% |
| Deferred charges and accrued income | 490/1 | €2,533 | €22,039 | +€19,506 | +770% |
| Total equity and liabilities | 10/49 | €445,860 | €502,778 | +€56,918 | +12.8% |
| Equity | 10/15 | €304,492 | €307,246 | +€2,754 | +0.9% |
| Contributions | 10/11 | €0 | - | = | |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €87,803 | €87,803 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €0 | - | = | |
| Financial assistance | 1313 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €87,803 | €87,803 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €216,689 | €219,443 | +€2,754 | +1.3% |
| Investment grants | 15 | €0 | - | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €141,368 | €195,532 | +€54,164 | +38.3% |
| Amounts payable after more than one year | 17 | €56,470 | €31,114 | -€25,356 | -44.9% |
| Financial debts | 170/4 | €56,470 | €31,114 | -€25,356 | -44.9% |
| Trade debts | 175 | €0 | - | = | |
| Advances received on contracts in progress | 176 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €84,898 | €164,419 | +€79,521 | +93.7% |
| Current portion of amounts payable after more than one year | 42 | €24,203 | €25,357 | +€1,154 | +4.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €3,497 | €112,650 | +€109,153 | +3,121% |
| Suppliers | 440/4 | €3,497 | €112,650 | +€109,153 | +3,121% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €45,876 | €14,397 | -€31,479 | -68.6% |
| Taxes | 450/3 | €45,876 | €14,397 | -€31,479 | -68.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,321 | €12,015 | +€694 | +6.1% |
| Turnover | 70 | €482,033 | €479,434 | -€2,599 | -0.5% |
| Non-recurring operating income | 76A | €15,868 | - | -€15,868 | |
| Goods, raw materials, services and sundry goods | 60/61 | €319,453 | €424,956 | +€105,503 | +33.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,864 | €9,874 | +€10 | +0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €950 | €7,246 | +€6,296 | +663% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €178,448 | €54,781 | -€123,667 | -69.3% |
| Operating profit (loss) | 9901 | €167,634 | €37,661 | -€129,973 | -77.5% |
| Financial income | 75/76B | €8,076 | €1,224 | -€6,852 | -84.8% |
| Recurring financial income | 75 | €8,076 | €1,224 | -€6,852 | -84.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €9,292 | €17,526 | +€8,234 | +88.6% |
| Recurring financial charges | 65 | €9,292 | €17,526 | +€8,234 | +88.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €166,417 | €21,359 | -€145,058 | -87.2% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €45,876 | €18,605 | -€27,271 | -59.4% |
| Profit (loss) for the period | 9904 | €120,541 | €2,754 | -€117,787 | -97.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €120,541 | €2,754 | -€117,787 | -97.7% |
Next steps
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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 4 November 2026 via checked.be.