GRANIEXPERT: 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.
GRANIEXPERT
Largest movements
- Receivables within one year +€275,186
up €275,186 (+334.0%), from €82,389 to €357,575
of which Trade receivables: +€263,718
- Cash -€110,825
down €110,825 (-33.3%), from €333,306 to €222,481
mainly Receivables within one year (-€275,186) and Contributions, distributions and other (-€28,571)
- Tangible fixed assets -€21,236
down €21,236 (-9.3%), from €229,213 to €207,977
of which Land and buildings: -€15,000
- Trade debts +€177,529
up €177,529 (+391.7%), from €45,325 to €222,854
- Debts after one year -€22,638
down €22,638 (-10.1%), from €223,662 to €201,024
- Profit (loss) carried forward -€17,587
down €17,587 (-5.7%), from €309,567 to €291,979
- Gross operating margin -€211,214
down €211,214 (-40.4%), from €522,730 to €311,516
- Staff costs -€67,677
down €67,677 (-21.0%), from €321,958 to €254,281
- Write-downs -€32,421
no longer reported in 2024 (was €32,421)
- Taxes -€23,380
down €23,380 (-76.1%), from €30,723 to €7,344
- Depreciation -€11,081
down €11,081 (-31.9%), from €34,759 to €23,677
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €648,947 | €792,198 | +€143,251 | +22.1% |
| Fixed assets | 21/28 | €229,864 | €208,627 | -€21,236 | -9.2% |
| Tangible fixed assets | 22/27 | €229,213 | €207,977 | -€21,236 | -9.3% |
| Land and buildings | 22 | €210,000 | €195,000 | -€15,000 | -7.1% |
| Plant, machinery and equipment | 23 | €8,191 | €6,547 | -€1,644 | -20.1% |
| Furniture and vehicles | 24 | €11,022 | €6,430 | -€4,592 | -41.7% |
| Financial fixed assets | 28 | €650 | €650 | = | 0.0% |
| Current assets | 29/58 | €419,083 | €583,570 | +€164,487 | +39.2% |
| Amounts receivable within one year | 40/41 | €82,389 | €357,575 | +€275,186 | +334.0% |
| Trade receivables | 40 | €76,936 | €340,654 | +€263,718 | +342.8% |
| Other amounts receivable | 41 | €5,453 | €16,921 | +€11,468 | +210.3% |
| Cash at bank and in hand | 54/58 | €333,306 | €222,481 | -€110,825 | -33.3% |
| Deferred charges and accrued income | 490/1 | €3,388 | €3,515 | +€126 | +3.7% |
| Total equity and liabilities | 10/49 | €648,947 | €792,198 | +€143,251 | +22.1% |
| Equity | 10/15 | €334,127 | €316,539 | -€17,587 | -5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,360 | €18,360 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,500 | €16,500 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309,567 | €291,979 | -€17,587 | -5.7% |
| Amounts payable | 17/49 | €314,820 | €475,658 | +€160,839 | +51.1% |
| Amounts payable after more than one year | 17 | €223,662 | €201,024 | -€22,638 | -10.1% |
| Financial debts | 170/4 | €223,662 | €201,024 | -€22,638 | -10.1% |
| Amounts payable within one year | 42/48 | €91,072 | €274,634 | +€183,562 | +201.6% |
| Current portion of amounts payable after more than one year | 42 | €23,713 | €24,414 | +€702 | +3.0% |
| Trade debts | 44 | €45,325 | €222,854 | +€177,529 | +391.7% |
| Suppliers | 440/4 | €45,325 | €222,854 | +€177,529 | +391.7% |
| Taxes, remuneration and social security | 45 | €21,426 | €27,366 | +€5,940 | +27.7% |
| Taxes | 450/3 | €6,433 | €19,051 | +€12,618 | +196.1% |
| Remuneration and social security | 454/9 | €14,992 | €8,314 | -€6,678 | -44.5% |
| Other amounts payable | 47/48 | €609 | - | -€609 | |
| Accrued charges and deferred income | 492/3 | €85 | - | -€85 | |
| Non-recurring operating income | 76A | - | €1,614 | +€1,614 | |
| Remuneration, social security and pensions | 62 | €321,958 | €254,281 | -€67,677 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,759 | €23,677 | -€11,081 | -31.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,421 | - | -€32,421 | |
| Other operating charges | 640/8 | €5,842 | €6,169 | +€327 | +5.6% |
| Non-recurring operating charges | 66A | - | €307 | +€307 | |
| Gross operating margin | 9900 | €522,730 | €311,516 | -€211,214 | -40.4% |
| Operating profit (loss) | 9901 | €127,750 | €27,082 | -€100,668 | -78.8% |
| Financial income | 75/76B | €34 | €95 | +€61 | +179.3% |
| Recurring financial income | 75 | €34 | €95 | +€61 | +179.3% |
| Financial charges | 65/66B | €8,431 | €8,850 | +€419 | +5.0% |
| Recurring financial charges | 65 | €8,431 | €8,850 | +€419 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €119,353 | €18,328 | -€101,025 | -84.6% |
| Income taxes | 67/77 | €30,723 | €7,344 | -€23,380 | -76.1% |
| Profit (loss) for the period | 9904 | €88,630 | €10,984 | -€77,646 | -87.6% |
| Profit (loss) for the period to be appropriated | 9905 | €88,630 | €10,984 | -€77,646 | -87.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.