GRANOX: 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.
GRANOX
Largest movements
- Tangible fixed assets -€21,309
down €21,309 (-35.4%), from €60,259 to €38,949
- Cash +€15,776
up €15,776 (+11.8%), from €134,006 to €149,782
mainly Depreciation (+€21,309) and Net result for the year (+€14,513)
- Stocks and contracts -€9,860
no longer reported in 2025 (was €9,860)
- Other debts -€19,000
down €19,000 (-86.8%), from €21,884 to €2,884
- Trade debts -€15,702
down €15,702 (-75.8%), from €20,715 to €5,014
- Reserves +€14,513
up €14,513 (+3.2%), from €456,747 to €471,261
of which Distributable reserves: +€14,513
- Tax, wage and social debts +€13,435
up €13,435 (+112%), from €12,040 to €25,475
- Gross operating margin -€12,036
down €12,036 (-24.0%), from €50,172 to €38,136
- Financial charges -€1,079
down €1,079 (-31.8%), from €3,392 to €2,313
of which Non-recurring financial charges: -€1,550
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 | €668,483 | €657,730 | -€10,753 | -1.6% |
| Fixed assets | 21/28 | €60,259 | €38,949 | -€21,309 | -35.4% |
| Tangible fixed assets | 22/27 | €60,259 | €38,949 | -€21,309 | -35.4% |
| Furniture and vehicles | 24 | €60,259 | €38,949 | -€21,309 | -35.4% |
| Current assets | 29/58 | €608,225 | €618,781 | +€10,556 | +1.7% |
| Stocks and contracts in progress | 3 | €9,860 | - | -€9,860 | |
| Stocks | 30/36 | €9,860 | - | -€9,860 | |
| Amounts receivable within one year | 40/41 | €205,368 | €210,180 | +€4,812 | +2.3% |
| Trade receivables | 40 | €197,363 | €197,105 | -€257 | -0.1% |
| Other amounts receivable | 41 | €8,005 | €13,075 | +€5,069 | +63.3% |
| Current investments | 50/53 | €250,000 | €250,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €134,006 | €149,782 | +€15,776 | +11.8% |
| Deferred charges and accrued income | 490/1 | €8,990 | €8,819 | -€171 | -1.9% |
| Total equity and liabilities | 10/49 | €668,483 | €657,730 | -€10,753 | -1.6% |
| Equity | 10/15 | €607,845 | €622,358 | +€14,513 | +2.4% |
| Contributions | 10/11 | €151,097 | €151,097 | = | 0.0% |
| Reserves | 13 | €456,747 | €471,261 | +€14,513 | +3.2% |
| Non-distributable reserves | 130/1 | €16,349 | €16,349 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,349 | €16,349 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €421,648 | €436,161 | +€14,513 | +3.4% |
| Amounts payable | 17/49 | €60,639 | €35,372 | -€25,266 | -41.7% |
| Amounts payable within one year | 42/48 | €54,639 | €33,372 | -€21,266 | -38.9% |
| Trade debts | 44 | €20,715 | €5,014 | -€15,702 | -75.8% |
| Suppliers | 440/4 | €20,715 | €5,014 | -€15,702 | -75.8% |
| Taxes, remuneration and social security | 45 | €12,040 | €25,475 | +€13,435 | +112% |
| Taxes | 450/3 | €12,040 | €25,475 | +€13,435 | +112% |
| Other amounts payable | 47/48 | €21,884 | €2,884 | -€19,000 | -86.8% |
| Accrued charges and deferred income | 492/3 | €6,000 | €2,000 | -€4,000 | -66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,477 | €21,309 | -€167 | -0.8% |
| Gross operating margin | 9900 | €50,172 | €38,136 | -€12,036 | -24.0% |
| Operating profit (loss) | 9901 | €28,695 | €16,826 | -€11,869 | -41.4% |
| Financial charges | 65/66B | €3,392 | €2,313 | -€1,079 | -31.8% |
| Recurring financial charges | 65 | €1,842 | €2,313 | +€471 | +25.6% |
| Non-recurring financial charges | 66B | €1,550 | - | -€1,550 | |
| Profit (loss) for the period before taxes | 9903 | €25,303 | €14,513 | -€10,790 | -42.6% |
| Profit (loss) for the period | 9904 | €25,303 | €14,513 | -€10,790 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,303 | €14,513 | -€10,790 | -42.6% |
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 14 October 2026 via checked.be.