GRANIT INTER: what changed
Two fiscal 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
GRANIT INTER
NACE 46.900, Non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€444,758
2024 · €195,972+€248,787
Equity
€8.7m
2024 · €8.2m+€508,329
Cash
€763,517
2024 · €1.4m-€663,111
Balance sheet total
€14.2m
2024 · €14.3m-€195,475
Largest movements
Assets
- Cash -€663,111
down €663,111 (-46.5%), from €1.4m to €763,517
mainly Investment in fixed assets (net) (-€490,844) and Receivables within one year (-€475,143)
- Receivables within one year +€475,143
up €475,143 (+16.6%), from €2.9m to €3.3m
of which Trade receivables: +€529,001
- Stocks and contracts +€342,525
up €342,525 (+5.9%), from €5.8m to €6.1m
of which Stocks: +€291,632
- Tangible fixed assets -€323,333
down €323,333 (-8.0%), from €4.0m to €3.7m
of which Land and buildings: -€230,207
Equity and liabilities
- Debts after one year -€451,878
down €451,878 (-29.4%), from €1.5m to €1.1m
- Short-term financial debts -€250,000
no longer reported in 2025 (was €250,000)
- Profit (loss) carried forward +€239,310
up €239,310 (+3.7%), from €6.5m to €6.8m
- Reserves +€205,448
up €205,448 (+79.5%), from €258,554 to €464,002
of which Tax-exempt reserves: +€205,448
- Trade debts -€148,862
down €148,862 (-5.4%), from €2.7m to €2.6m
Income statement
- Turnover +€1.6m
up €1.6m (+6.3%), from €25.3m to €26.9m
- Goods and materials +€1.1m
up €1.1m (+7.8%), from €14.0m to €15.1m
of which Purchases: +€2.2m
- Services and other goods +€846,540
up €846,540 (+14.0%), from €6.0m to €6.9m
- Other operating income +€813,708
up €813,708 (+488.2%), from €166,675 to €980,382
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
€195,972
Turnover
+€1.6m
Other operating income
+€813,708
Goods and materials
-€1.1m
Services and other goods
-€846,540
Staff costs
+€29,749
Depreciation
+€16,737
Write-downs
-€115,370
Other operating charges
+€13,540
Other operating items
-€110,712
Financial income
+€11,910
Financial charges
+€12,818
Taxes
-€87,254
Result 2025
€444,758
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.
From operations
+€434,160
Investment
-€490,844
Financing
-€606,427
Cash 2024
€1.4m
From operations (derived)
+€434,160
Net result for the year
+€444,758
Depreciation
+€799,795
Stocks and contracts
-€342,525
Receivables within one year
-€475,143
Deferred charges and accrued income
+€41,080
Trade debts
-€148,862
Tax, wage and social debts
+€33,669
Advances received
+€72,587
Other debts
+€8,800
Investment (derived)
-€490,844
Investment in fixed assets (net)
-€490,844
Financing
-€606,427
Debts after one year
-€451,878
Current portion of long-term debt
+€31,880
Short-term financial debts
-€250,000
Contributions, distributions and other
+€63,571
Cash 2025
€763,517
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,346,962 | €14,151,487 | -€195,475 | -1.4% |
| Fixed assets | 21/28 | €4,233,933 | €3,924,982 | -€308,951 | -7.3% |
| Intangible fixed assets | 21 | €23,849 | €8,849 | -€15,000 | -62.9% |
| Tangible fixed assets | 22/27 | €4,049,325 | €3,725,992 | -€323,333 | -8.0% |
| Land and buildings | 22 | €2,771,196 | €2,540,989 | -€230,207 | -8.3% |
| Plant, machinery and equipment | 23 | €209,947 | €145,993 | -€63,953 | -30.5% |
| Furniture and vehicles | 24 | €659,538 | €759,544 | +€100,006 | +15.2% |
| Leasing and similar rights | 25 | €349,411 | €229,139 | -€120,271 | -34.4% |
| Other tangible fixed assets | 26 | €39,325 | €31,714 | -€7,611 | -19.4% |
| Assets under construction and advance payments | 27 | €19,909 | €18,612 | -€1,297 | -6.5% |
| Financial fixed assets | 28 | €160,759 | €190,141 | +€29,382 | +18.3% |
| Other financial fixed assets | 284/8 | €160,759 | €190,141 | +€29,382 | +18.3% |
| Amounts receivable and cash guarantees | 285/8 | €160,759 | €190,141 | +€29,382 | +18.3% |
| Current assets | 29/58 | €10,113,028 | €10,226,505 | +€113,476 | +1.1% |
| Stocks and contracts in progress | 3 | €5,787,002 | €6,129,527 | +€342,525 | +5.9% |
| Stocks | 30/36 | €5,697,928 | €5,989,559 | +€291,632 | +5.1% |
| Finished goods | 33 | €56,110 | €33,157 | -€22,953 | -40.9% |
| Goods purchased for resale | 34 | €5,641,818 | €5,956,402 | +€314,584 | +5.6% |
| Contracts in progress | 37 | €89,074 | €139,967 | +€50,893 | +57.1% |
| Amounts receivable within one year | 40/41 | €2,857,915 | €3,333,058 | +€475,143 | +16.6% |
| Trade receivables | 40 | €2,803,757 | €3,332,758 | +€529,001 | +18.9% |
| Other amounts receivable | 41 | €54,159 | €300 | -€53,858 | -99.4% |
| Cash at bank and in hand | 54/58 | €1,426,629 | €763,517 | -€663,111 | -46.5% |
| Deferred charges and accrued income | 490/1 | €41,482 | €403 | -€41,080 | -99.0% |
| Total equity and liabilities | 10/49 | €14,346,962 | €14,151,487 | -€195,475 | -1.4% |
| Equity | 10/15 | €8,176,034 | €8,684,363 | +€508,329 | +6.2% |
| Contributions | 10/11 | €1,322,536 | €1,322,536 | = | 0.0% |
| Capital | 10 | €1,322,536 | €1,322,536 | = | 0.0% |
| Issued capital | 100 | €1,322,536 | €1,322,536 | = | 0.0% |
| Reserves | 13 | €258,554 | €464,002 | +€205,448 | +79.5% |
| Non-distributable reserves | 130/1 | €132,254 | €132,254 | = | 0.0% |
| Legal reserve | 130 | €132,254 | €132,254 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €331,748 | +€205,448 | +162.7% |
| Profit (loss) carried forward | 14 | €6,523,118 | €6,762,428 | +€239,310 | +3.7% |
| Investment grants | 15 | €71,826 | €135,398 | +€63,571 | +88.5% |
| Amounts payable | 17/49 | €6,170,928 | €5,467,124 | -€703,804 | -11.4% |
| Amounts payable after more than one year | 17 | €1,539,400 | €1,087,522 | -€451,878 | -29.4% |
| Financial debts | 170/4 | €1,539,400 | €1,087,522 | -€451,878 | -29.4% |
| Leasing and similar obligations | 172 | €256,976 | €108,779 | -€148,197 | -57.7% |
| Credit institutions | 173 | €1,113,534 | €863,187 | -€250,348 | -22.5% |
| Other loans | 174 | €168,890 | €115,556 | -€53,333 | -31.6% |
| Amounts payable within one year | 42/48 | €4,631,528 | €4,379,602 | -€251,926 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €612,139 | €644,019 | +€31,880 | +5.2% |
| Financial debts | 43 | €250,000 | - | -€250,000 | |
| Credit institutions | 430/8 | €250,000 | - | -€250,000 | |
| Trade debts | 44 | €2,744,592 | €2,595,730 | -€148,862 | -5.4% |
| Suppliers | 440/4 | €2,744,592 | €2,595,730 | -€148,862 | -5.4% |
| Advances received on contracts in progress | 46 | €509,473 | €582,061 | +€72,587 | +14.2% |
| Taxes, remuneration and social security | 45 | €485,323 | €518,993 | +€33,669 | +6.9% |
| Taxes | 450/3 | €106,268 | €136,009 | +€29,741 | +28.0% |
| Remuneration and social security | 454/9 | €379,055 | €382,984 | +€3,928 | +1.0% |
| Other amounts payable | 47/48 | €30,000 | €38,800 | +€8,800 | +29.3% |
| Operating income | 70/76A | €25,589,871 | €27,871,057 | +€2.3m | +8.9% |
| Turnover | 70 | €25,266,759 | €26,862,071 | +€1.6m | +6.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €145,184 | €27,941 | -€117,244 | -80.8% |
| Other operating income | 74 | €166,675 | €980,382 | +€813,708 | +488.2% |
| Non-recurring operating income | 76A | €11,253 | €663 | -€10,590 | -94.1% |
| Operating charges | 60/66A | €25,186,642 | €27,156,516 | +€2.0m | +7.8% |
| Goods for resale, raw materials and consumables | 60 | €13,969,894 | €15,055,006 | +€1.1m | +7.8% |
| Purchases | 600/8 | €13,185,534 | €15,346,776 | +€2.2m | +16.4% |
| Change in stocks: decrease (increase) | 609 | €784,359 | -€291,769 | -€1.1m | |
| Services and other goods | 61 | €6,027,524 | €6,874,065 | +€846,540 | +14.0% |
| Remuneration, social security and pensions | 62 | €4,338,389 | €4,308,640 | -€29,749 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €816,533 | €799,795 | -€16,737 | -2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€136,005 | -€20,634 | +€115,370 | +84.8% |
| Other operating charges | 640/8 | €150,475 | €136,934 | -€13,540 | -9.0% |
| Non-recurring operating charges | 66A | €19,832 | €2,710 | -€17,122 | -86.3% |
| Operating profit (loss) | 9901 | €403,229 | €714,541 | +€311,312 | +77.2% |
| Financial income | 75/76B | €49,317 | €61,227 | +€11,910 | +24.2% |
| Recurring financial income | 75 | €49,317 | €61,227 | +€11,910 | +24.2% |
| Other financial income | 752/9 | €49,317 | €61,227 | +€11,910 | +24.2% |
| Financial charges | 65/66B | €154,440 | €141,622 | -€12,818 | -8.3% |
| Recurring financial charges | 65 | €154,440 | €141,622 | -€12,818 | -8.3% |
| Debt charges | 650 | €96,596 | €61,907 | -€34,689 | -35.9% |
| Other financial charges | 652/9 | €57,844 | €79,715 | +€21,872 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €298,106 | €634,146 | +€336,040 | +112.7% |
| Income taxes | 67/77 | €102,134 | €189,388 | +€87,254 | +85.4% |
| Taxes | 670/3 | €150,000 | €189,388 | +€39,388 | +26.3% |
| Tax adjustments and reversals of tax provisions | 77 | €47,866 | - | -€47,866 | |
| Profit (loss) for the period | 9904 | €195,972 | €444,758 | +€248,787 | +127.0% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €205,448 | +€79,148 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,672 | €239,310 | +€169,639 | +243.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.