GRANIER: 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.
GRANIER
Largest movements
- Cash +€661,749
up €661,749 (+1923.9%), from €34,396 to €696,144
mainly Investment in fixed assets (net) (+€470,909) and Receivables within one year (+€236,460)
- Tangible fixed assets -€508,990
down €508,990 (-17.4%), from €2.9m to €2.4m
of which Land and buildings: -€600,980
- Receivables within one year -€236,460
down €236,460 (-89.1%), from €265,382 to €28,922
of which Trade receivables: -€227,791
- Financial fixed assets -€160,250
down €160,250 (-100.0%), from €160,250 to €0
- Reserves -€109,749
down €109,749 (-4.7%), from €2.3m to €2.2m
of which Tax-exempt reserves: -€122,022
- Other debts -€94,095
down €94,095 (-14.0%), from €671,199 to €577,105
- Provisions -€50,071
down €50,071 (-26.4%), from €189,999 to €139,928
- Gross operating margin -€194,089
down €194,089 (-57.1%), from €340,106 to €146,017
- Taxes -€22,146
down €22,146 (-81.2%), from €27,284 to €5,138
- Other operating charges +€11,507
up €11,507 (+22.8%), from €50,445 to €61,951
- Depreciation -€11,198
down €11,198 (-5.3%), from €209,528 to €198,331
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 | €3,390,214 | €3,145,140 | -€245,075 | -7.2% |
| Fixed assets | 21/28 | €3,081,225 | €2,411,985 | -€669,240 | -21.7% |
| Tangible fixed assets | 22/27 | €2,920,975 | €2,411,985 | -€508,990 | -17.4% |
| Land and buildings | 22 | €2,914,425 | €2,313,445 | -€600,980 | -20.6% |
| Plant, machinery and equipment | 23 | €8 | €9,996 | +€9,988 | +131252.6% |
| Furniture and vehicles | 24 | €6,542 | €5,962 | -€580 | -8.9% |
| Leasing and similar rights | 25 | - | €82,583 | +€82,583 | |
| Financial fixed assets | 28 | €160,250 | €0 | -€160,250 | -100.0% |
| Current assets | 29/58 | €308,990 | €733,155 | +€424,165 | +137.3% |
| Amounts receivable within one year | 40/41 | €265,382 | €28,922 | -€236,460 | -89.1% |
| Trade receivables | 40 | €227,791 | €0 | -€227,791 | -100.0% |
| Other amounts receivable | 41 | €37,590 | €28,922 | -€8,669 | -23.1% |
| Cash at bank and in hand | 54/58 | €34,396 | €696,144 | +€661,749 | +1923.9% |
| Deferred charges and accrued income | 490/1 | €9,213 | €8,089 | -€1,124 | -12.2% |
| Total equity and liabilities | 10/49 | €3,390,214 | €3,145,140 | -€245,075 | -7.2% |
| Equity | 10/15 | €2,484,762 | €2,375,012 | -€109,749 | -4.4% |
| Contributions | 10/11 | €161,500 | €161,500 | = | 0.0% |
| Reserves | 13 | €2,323,262 | €2,213,512 | -€109,749 | -4.7% |
| Tax-exempt reserves | 132 | €470,047 | €348,025 | -€122,022 | -26.0% |
| Distributable reserves | 133 | €1,853,214 | €1,865,487 | +€12,273 | +0.7% |
| Provisions and deferred taxes | 16 | €189,999 | €139,928 | -€50,071 | -26.4% |
| Deferred taxes | 168 | €189,999 | €139,928 | -€50,071 | -26.4% |
| Amounts payable | 17/49 | €715,454 | €630,199 | -€85,255 | -11.9% |
| Amounts payable within one year | 42/48 | €690,171 | €597,937 | -€92,234 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €8 | €0 | -€8 | -100.0% |
| Credit institutions | 430/8 | €8 | €0 | -€8 | -100.0% |
| Trade debts | 44 | €6,239 | €3,444 | -€2,795 | -44.8% |
| Suppliers | 440/4 | €6,239 | €3,444 | -€2,795 | -44.8% |
| Taxes, remuneration and social security | 45 | €12,726 | €17,389 | +€4,663 | +36.6% |
| Taxes | 450/3 | €12,726 | €17,389 | +€4,663 | +36.6% |
| Other amounts payable | 47/48 | €671,199 | €577,105 | -€94,095 | -14.0% |
| Accrued charges and deferred income | 492/3 | €25,282 | €32,261 | +€6,979 | +27.6% |
| Remuneration, social security and pensions | 62 | €390 | €0 | -€390 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €209,528 | €198,331 | -€11,198 | -5.3% |
| Other operating charges | 640/8 | €50,445 | €61,951 | +€11,507 | +22.8% |
| Gross operating margin | 9900 | €340,106 | €146,017 | -€194,089 | -57.1% |
| Operating profit (loss) | 9901 | €79,743 | -€114,265 | -€194,008 | |
| Financial income | 75/76B | €2,752 | €4,486 | +€1,735 | +63.0% |
| Recurring financial income | 75 | €2,752 | €4,486 | +€1,735 | +63.0% |
| Financial charges | 65/66B | €42,131 | €44,904 | +€2,773 | +6.6% |
| Recurring financial charges | 65 | €42,131 | €44,904 | +€2,773 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €40,364 | -€154,682 | -€195,046 | |
| Transfer from deferred taxes | 780 | €28,186 | €50,071 | +€21,884 | +77.6% |
| Income taxes | 67/77 | €27,284 | €5,138 | -€22,146 | -81.2% |
| Profit (loss) for the period | 9904 | €41,266 | -€109,749 | -€151,016 | |
| Transfer from tax-exempt reserves | 789 | €57,638 | €122,022 | +€64,384 | +111.7% |
| Profit (loss) for the period to be appropriated | 9905 | €98,904 | €12,273 | -€86,631 | -87.6% |
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 9 October 2026 via checked.be.