GRANIDESIGN CULOT: 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.
GRANIDESIGN CULOT
Largest movements
- Tangible fixed assets -€164,846
down €164,846 (-20.3%), from €813,242 to €648,396
- Stocks and contracts +€148,585
up €148,585 (+25.7%), from €578,668 to €727,253
- Deferred charges and accrued income -€48,383
down €48,383 (-56.0%), from €86,354 to €37,971
- Receivables within one year -€22,934
down €22,934 (-5.2%), from €440,089 to €417,155
of which Other amounts receivable: -€19,374
- Debts after one year -€127,779
down €127,779 (-22.7%), from €563,504 to €435,726
- Other debts +€55,982
up €55,982 (+121%), from €46,431 to €102,413
- Trade debts -€44,906
down €44,906 (-9.3%), from €480,491 to €435,585
- Current portion of long-term debt -€23,349
down €23,349 (-7.7%), from €302,259 to €278,910
- Gross operating margin +€72,056
up €72,056 (+11.0%), from €653,166 to €725,222
- Staff costs +€25,868
up €25,868 (+6.4%), from €402,592 to €428,461
- Taxes +€16,815
up €16,815, from -€1,287 to €15,528
- Depreciation +€8,504
up €8,504 (+4.8%), from €176,796 to €185,300
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 | €2,005,646 | €1,907,175 | -€98,471 | -4.9% |
| Fixed assets | 21/28 | €819,332 | €652,807 | -€166,525 | -20.3% |
| Intangible fixed assets | 21 | €6,090 | €4,411 | -€1,679 | -27.6% |
| Tangible fixed assets | 22/27 | €813,242 | €648,396 | -€164,846 | -20.3% |
| Land and buildings | 22 | €13,428 | €11,354 | -€2,073 | -15.4% |
| Plant, machinery and equipment | 23 | €209,784 | €154,157 | -€55,627 | -26.5% |
| Furniture and vehicles | 24 | €119,316 | €83,965 | -€35,351 | -29.6% |
| Leasing and similar rights | 25 | €470,714 | €398,920 | -€71,794 | -15.3% |
| Current assets | 29/58 | €1,186,314 | €1,254,368 | +€68,054 | +5.7% |
| Stocks and contracts in progress | 3 | €578,668 | €727,253 | +€148,585 | +25.7% |
| Stocks | 30/36 | €578,668 | €727,253 | +€148,585 | +25.7% |
| Amounts receivable within one year | 40/41 | €440,089 | €417,155 | -€22,934 | -5.2% |
| Trade receivables | 40 | €367,544 | €363,984 | -€3,560 | -1.0% |
| Other amounts receivable | 41 | €72,545 | €53,171 | -€19,374 | -26.7% |
| Cash at bank and in hand | 54/58 | €81,203 | €71,989 | -€9,214 | -11.3% |
| Deferred charges and accrued income | 490/1 | €86,354 | €37,971 | -€48,383 | -56.0% |
| Total equity and liabilities | 10/49 | €2,005,646 | €1,907,175 | -€98,471 | -4.9% |
| Equity | 10/15 | €502,959 | €515,404 | +€12,444 | +2.5% |
| Contributions | 10/11 | €99,000 | €99,000 | = | 0.0% |
| Reserves | 13 | €400,600 | €414,600 | +€14,000 | +3.5% |
| Distributable reserves | 133 | €400,600 | €414,600 | +€14,000 | +3.5% |
| Profit (loss) carried forward | 14 | €3,359 | €1,804 | -€1,556 | -46.3% |
| Amounts payable | 17/49 | €1,502,686 | €1,391,771 | -€110,915 | -7.4% |
| Amounts payable after more than one year | 17 | €563,504 | €435,726 | -€127,779 | -22.7% |
| Financial debts | 170/4 | €563,504 | €435,726 | -€127,779 | -22.7% |
| Amounts payable within one year | 42/48 | €840,625 | €859,470 | +€18,845 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €302,259 | €278,910 | -€23,349 | -7.7% |
| Financial debts | 43 | €0 | €12,663 | +€12,663 | |
| Other loans | 439 | €0 | €12,663 | +€12,663 | |
| Trade debts | 44 | €480,491 | €435,585 | -€44,906 | -9.3% |
| Suppliers | 440/4 | €480,491 | €435,585 | -€44,906 | -9.3% |
| Taxes, remuneration and social security | 45 | €11,444 | €29,899 | +€18,455 | +161% |
| Taxes | 450/3 | €416 | €3,076 | +€2,659 | +639% |
| Remuneration and social security | 454/9 | €11,027 | €26,823 | +€15,796 | +143% |
| Other amounts payable | 47/48 | €46,431 | €102,413 | +€55,982 | +121% |
| Accrued charges and deferred income | 492/3 | €98,557 | €96,576 | -€1,981 | -2.0% |
| Remuneration, social security and pensions | 62 | €402,592 | €428,461 | +€25,868 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,796 | €185,300 | +€8,504 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,391 | +€3,391 | |
| Other operating charges | 640/8 | €16,335 | €23,216 | +€6,881 | +42.1% |
| Gross operating margin | 9900 | €653,166 | €725,222 | +€72,056 | +11.0% |
| Operating profit (loss) | 9901 | €57,443 | €84,854 | +€27,412 | +47.7% |
| Financial income | 75/76B | €252 | €2,759 | +€2,507 | +994% |
| Recurring financial income | 75 | €252 | €2,759 | +€2,507 | +994% |
| Financial charges | 65/66B | €56,733 | €57,981 | +€1,249 | +2.2% |
| Recurring financial charges | 65 | €56,733 | €57,981 | +€1,249 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | €962 | €29,632 | +€28,670 | +2,979% |
| Income taxes | 67/77 | -€1,287 | €15,528 | +€16,815 | |
| Profit (loss) for the period | 9904 | €2,250 | €14,104 | +€11,855 | +527% |
| Profit (loss) for the period to be appropriated | 9905 | €2,250 | €14,104 | +€11,855 | +527% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.