GRANILU: 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.
What changed
GRANILU
NACE 01.610, Support activities for crop production
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€191,317
2024 · €190,645+€672
Equity
€3.6m
2024 · €3.4m+€191,317
Cash
€476,772
2024 · €372,627+€104,145
Balance sheet total
€15.6m
2024 · €15.5m+€113,116
Largest movements
Assets
- Receivables within one year +€442,345
up €442,345 (+19.0%), from €2.3m to €2.8m
of which Other amounts receivable: +€411,841
- Stocks and contracts -€390,000
down €390,000 (-30.8%), from €1.3m to €875,000
Equity and liabilities
- Trade debts -€403,169
down €403,169 (-39.5%), from €1.0m to €616,684
- Current portion of long-term debt +€228,899
up €228,899 (+11.9%), from €1.9m to €2.2m
- Reserves +€165,012
up €165,012 (+21.0%), from €787,037 to €952,049
of which Distributable reserves: +€175,000
Income statement
- Gross operating margin +€1.3m
up €1.3m (+36.0%), from €3.6m to €4.8m
- Depreciation +€780,132
up €780,132 (+46.4%), from €1.7m to €2.5m
- Staff costs +€299,871
up €299,871 (+24.0%), from €1.3m to €1.6m
- Financial charges +€100,071
up €100,071 (+32.9%), from €304,029 to €404,100
- Write-downs +€99,430
new in 2025: €99,430
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.
Result 2024
€190,645
Gross operating margin
+€1.3m
Staff costs
-€299,871
Depreciation
-€780,132
Write-downs
-€99,430
Other operating charges
+€1,933
Other operating items
+€2,908
Financial income
-€808
Financial charges
-€100,071
Taxes
-€3,723
Result 2025
€191,317
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.1m
Investment
-€2.3m
Financing
+€299,956
Cash 2024
€372,627
From operations (derived)
+€2.1m
Net result for the year
+€191,317
Depreciation
+€2.5m
Stocks and contracts
+€390,000
Receivables within one year
-€442,345
Deferred charges and accrued income
-€106,364
Smaller working-capital items
-€7,206
Trade debts
-€403,169
Other debts
-€24,386
Accrued charges and deferred income
+€56,603
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Financing
+€299,956
Debts after one year
+€71,057
Current portion of long-term debt
+€228,899
Contributions, distributions and other
+€0
Cash 2025
€476,772
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,510,485 | €15,623,601 | +€113,116 | +0.7% |
| Fixed assets | 21/28 | €11,386,943 | €11,237,205 | -€149,738 | -1.3% |
| Tangible fixed assets | 22/27 | €11,384,893 | €11,235,155 | -€149,738 | -1.3% |
| Land and buildings | 22 | €3,658,041 | €3,473,843 | -€184,198 | -5.0% |
| Plant, machinery and equipment | 23 | €3,882,554 | €3,089,531 | -€793,023 | -20.4% |
| Furniture and vehicles | 24 | €260,836 | €114,463 | -€146,373 | -56.1% |
| Leasing and similar rights | 25 | €3,583,462 | €4,557,319 | +€973,857 | +27.2% |
| Financial fixed assets | 28 | €2,050 | €2,050 | = | 0.0% |
| Current assets | 29/58 | €4,123,542 | €4,386,395 | +€262,853 | +6.4% |
| Stocks and contracts in progress | 3 | €1,265,000 | €875,000 | -€390,000 | -30.8% |
| Stocks | 30/36 | €1,265,000 | €875,000 | -€390,000 | -30.8% |
| Amounts receivable within one year | 40/41 | €2,328,177 | €2,770,522 | +€442,345 | +19.0% |
| Trade receivables | 40 | €995,286 | €1,025,790 | +€30,504 | +3.1% |
| Other amounts receivable | 41 | €1,332,891 | €1,744,732 | +€411,841 | +30.9% |
| Cash at bank and in hand | 54/58 | €372,627 | €476,772 | +€104,145 | +27.9% |
| Deferred charges and accrued income | 490/1 | €157,738 | €264,102 | +€106,364 | +67.4% |
| Total equity and liabilities | 10/49 | €15,510,485 | €15,623,601 | +€113,116 | +0.7% |
| Equity | 10/15 | €3,420,256 | €3,611,573 | +€191,317 | +5.6% |
| Contributions | 10/11 | €72,000 | €72,000 | = | 0.0% |
| Reserves | 13 | €787,037 | €952,049 | +€165,012 | +21.0% |
| Tax-exempt reserves | 132 | €129,837 | €119,849 | -€9,988 | -7.7% |
| Distributable reserves | 133 | €657,200 | €832,200 | +€175,000 | +26.6% |
| Profit (loss) carried forward | 14 | €2,561,219 | €2,587,524 | +€26,305 | +1.0% |
| Provisions and deferred taxes | 16 | €54,538 | €50,343 | -€4,195 | -7.7% |
| Deferred taxes | 168 | €54,538 | €50,343 | -€4,195 | -7.7% |
| Amounts payable | 17/49 | €12,035,691 | €11,961,685 | -€74,006 | -0.6% |
| Amounts payable after more than one year | 17 | €8,547,846 | €8,618,903 | +€71,057 | +0.8% |
| Financial debts | 170/4 | €8,547,846 | €8,618,903 | +€71,057 | +0.8% |
| Amounts payable within one year | 42/48 | €3,232,808 | €3,031,142 | -€201,666 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €1,930,461 | €2,159,360 | +€228,899 | +11.9% |
| Trade debts | 44 | €1,019,853 | €616,684 | -€403,169 | -39.5% |
| Suppliers | 440/4 | €1,019,853 | €616,684 | -€403,169 | -39.5% |
| Taxes, remuneration and social security | 45 | €201,677 | €198,666 | -€3,011 | -1.5% |
| Taxes | 450/3 | €13,769 | €28,359 | +€14,590 | +106% |
| Remuneration and social security | 454/9 | €187,908 | €170,307 | -€17,601 | -9.4% |
| Other amounts payable | 47/48 | €80,817 | €56,431 | -€24,386 | -30.2% |
| Accrued charges and deferred income | 492/3 | €255,037 | €311,640 | +€56,603 | +22.2% |
| Remuneration, social security and pensions | 62 | €1,251,732 | €1,551,603 | +€299,871 | +24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,679,845 | €2,459,977 | +€780,132 | +46.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €99,430 | +€99,430 | |
| Other operating charges | 640/8 | €114,939 | €113,006 | -€1,933 | -1.7% |
| Non-recurring operating charges | 66A | €4,500 | €1,592 | -€2,908 | -64.6% |
| Gross operating margin | 9900 | €3,555,687 | €4,835,552 | +€1.3m | +36.0% |
| Operating profit (loss) | 9901 | €504,671 | €609,945 | +€105,274 | +20.9% |
| Financial income | 75/76B | €808 | €0 | -€808 | -100.0% |
| Recurring financial income | 75 | €808 | €0 | -€808 | -100.0% |
| Financial charges | 65/66B | €304,029 | €404,100 | +€100,071 | +32.9% |
| Recurring financial charges | 65 | €304,029 | €404,100 | +€100,071 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €201,450 | €205,845 | +€4,395 | +2.2% |
| Transfer from deferred taxes | 780 | €4,195 | €4,195 | +€0 | 0.0% |
| Income taxes | 67/77 | €15,000 | €18,723 | +€3,723 | +24.8% |
| Profit (loss) for the period | 9904 | €190,645 | €191,317 | +€672 | +0.4% |
| Transfer from tax-exempt reserves | 789 | €9,987 | €9,987 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €200,632 | €201,304 | +€672 | +0.3% |
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 16 October 2026 via checked.be.