GRANITE WORKS: 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.
GRANITE WORKS
Largest movements
- Cash +€150,937
up €150,937 (+540%), from €27,939 to €178,875
mainly Net result for the year (+€102,788) and Deferred charges and accrued income (+€68,000)
- Tangible fixed assets -€118,863
down €118,863 (-10.1%), from €1.2m to €1.1m
of which Land and buildings: -€118,202
- Deferred charges and accrued income -€68,000
down €68,000 (-99.5%), from €68,325 to €325
- Reserves +€102,788
up €102,788 (+34.5%), from €297,818 to €400,605
of which Distributable reserves: +€102,788
- Other debts -€91,018
down €91,018 (-13.8%), from €659,664 to €568,646
- Debts after one year -€57,128
down €57,128 (-9.1%), from €628,670 to €571,541
- Gross operating margin +€87,044
up €87,044 (+41.2%), from €211,134 to €298,178
- Taxes +€8,459
up €8,459 (+465%), from €1,820 to €10,279
- Depreciation -€7,663
down €7,663 (-12.2%), from €63,047 to €55,384
- Staff costs +€3,892
up €3,892 (+4.0%), from €97,029 to €100,921
- Financial charges -€3,422
down €3,422 (-15.3%), from €22,335 to €18,913
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 | €1,932,835 | €1,892,510 | -€40,325 | -2.1% |
| Fixed assets | 21/28 | €1,731,727 | €1,612,864 | -€118,863 | -6.9% |
| Tangible fixed assets | 22/27 | €1,175,192 | €1,056,329 | -€118,863 | -10.1% |
| Land and buildings | 22 | €1,165,871 | €1,047,669 | -€118,202 | -10.1% |
| Plant, machinery and equipment | 23 | €9,321 | €8,660 | -€661 | -7.1% |
| Financial fixed assets | 28 | €556,535 | €556,535 | = | 0.0% |
| Current assets | 29/58 | €201,107 | €279,645 | +€78,538 | +39.1% |
| Amounts receivable within one year | 40/41 | €104,844 | €100,445 | -€4,399 | -4.2% |
| Trade receivables | 40 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 41 | €4,844 | €445 | -€4,399 | -90.8% |
| Cash at bank and in hand | 54/58 | €27,939 | €178,875 | +€150,937 | +540% |
| Deferred charges and accrued income | 490/1 | €68,325 | €325 | -€68,000 | -99.5% |
| Total equity and liabilities | 10/49 | €1,932,835 | €1,892,510 | -€40,325 | -2.1% |
| Equity | 10/15 | €572,366 | €675,154 | +€102,788 | +18.0% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €297,818 | €400,605 | +€102,788 | +34.5% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €76,103 | €76,103 | = | 0.0% |
| Distributable reserves | 133 | €206,841 | €309,629 | +€102,788 | +49.7% |
| Profit (loss) carried forward | 14 | €125,812 | €125,812 | = | 0.0% |
| Amounts payable | 17/49 | €1,360,468 | €1,217,356 | -€143,113 | -10.5% |
| Amounts payable after more than one year | 17 | €628,670 | €571,541 | -€57,128 | -9.1% |
| Financial debts | 170/4 | €628,670 | €571,541 | -€57,128 | -9.1% |
| Amounts payable within one year | 42/48 | €731,799 | €645,814 | -€85,984 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €55,789 | €57,128 | +€1,340 | +2.4% |
| Trade debts | 44 | €2,137 | €5,820 | +€3,683 | +172% |
| Suppliers | 440/4 | €2,137 | €5,820 | +€3,683 | +172% |
| Taxes, remuneration and social security | 45 | €14,209 | €14,220 | +€11 | +0.1% |
| Taxes | 450/3 | €14,209 | €14,220 | +€11 | +0.1% |
| Other amounts payable | 47/48 | €659,664 | €568,646 | -€91,018 | -13.8% |
| Non-recurring operating income | 76A | - | €91,151 | +€91,151 | |
| Remuneration, social security and pensions | 62 | €97,029 | €100,921 | +€3,892 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,047 | €55,384 | -€7,663 | -12.2% |
| Other operating charges | 640/8 | €10,135 | €11,004 | +€869 | +8.6% |
| Gross operating margin | 9900 | €211,134 | €298,178 | +€87,044 | +41.2% |
| Operating profit (loss) | 9901 | €40,923 | €130,869 | +€89,947 | +220% |
| Financial income | 75/76B | €1,434 | €1,111 | -€323 | -22.5% |
| Recurring financial income | 75 | €1,434 | €1,111 | -€323 | -22.5% |
| Financial charges | 65/66B | €22,335 | €18,913 | -€3,422 | -15.3% |
| Recurring financial charges | 65 | €22,335 | €18,913 | -€3,422 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €20,021 | €113,066 | +€93,045 | +465% |
| Income taxes | 67/77 | €1,820 | €10,279 | +€8,459 | +465% |
| Profit (loss) for the period | 9904 | €18,201 | €102,788 | +€84,586 | +465% |
| Profit (loss) for the period to be appropriated | 9905 | €18,201 | €102,788 | +€84,586 | +465% |
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 30 October 2026 via checked.be.