Grant@vice: 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.
Grant@vice
Largest movements
- Current investments -€37,001
down €37,001 (-37.6%), from €98,490 to €61,489
- Tangible fixed assets -€34,552
down €34,552 (-18.4%), from €188,105 to €153,553
of which Land and buildings: -€34,041
- Intangible fixed assets +€9,083
up €9,083, from €0 to €9,083
- Cash +€8,925
up €8,925 (+73.5%), from €12,140 to €21,065
mainly Current investments (+€37,001) and Depreciation (+€34,574)
- Deferred charges and accrued income +€7,340
up €7,340 (+39.3%), from €18,693 to €26,033
- Debts after one year -€27,750
down €27,750 (-12.0%), from €231,209 to €203,459
- Trade debts -€22,648
down €22,648 (-80.7%), from €28,063 to €5,414
- Reserves +€11,850
up €11,850 (+26.0%), from €45,660 to €57,510
of which Distributable reserves: +€11,850
- Tax, wage and social debts -€8,299
down €8,299 (-32.3%), from €25,666 to €17,367
of which Taxes: -€5,427
- Gross operating margin -€11,864
down €11,864 (-16.2%), from €73,394 to €61,530
- Write-downs -€11,397
down €11,397 (-3338.8%), from -€341 to -€11,739
- Other operating charges +€1,885
up €1,885 (+14.5%), from €13,027 to €14,912
- Taxes -€1,296
down €1,296 (-24.6%), from €5,263 to €3,967
- Financial charges -€909
down €909 (-9.6%), from €9,448 to €8,539
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,777 | €368,545 | -€44,232 | -10.7% |
| Fixed assets | 21/28 | €188,105 | €162,636 | -€25,469 | -13.5% |
| Intangible fixed assets | 21 | €0 | €9,083 | +€9,083 | |
| Tangible fixed assets | 22/27 | €188,105 | €153,553 | -€34,552 | -18.4% |
| Land and buildings | 22 | €186,854 | €152,813 | -€34,041 | -18.2% |
| Plant, machinery and equipment | 23 | €1,251 | €739 | -€511 | -40.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €224,672 | €205,909 | -€18,763 | -8.4% |
| Amounts receivable within one year | 40/41 | €95,349 | €97,322 | +€1,973 | +2.1% |
| Trade receivables | 40 | €95,349 | €97,204 | +€1,855 | +1.9% |
| Other amounts receivable | 41 | €0 | €117 | +€117 | |
| Current investments | 50/53 | €98,490 | €61,489 | -€37,001 | -37.6% |
| Cash at bank and in hand | 54/58 | €12,140 | €21,065 | +€8,925 | +73.5% |
| Deferred charges and accrued income | 490/1 | €18,693 | €26,033 | +€7,340 | +39.3% |
| Total equity and liabilities | 10/49 | €412,777 | €368,545 | -€44,232 | -10.7% |
| Equity | 10/15 | €96,813 | €108,664 | +€11,851 | +12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €45,660 | €57,510 | +€11,850 | +26.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €45,660 | €57,510 | +€11,850 | +26.0% |
| Profit (loss) carried forward | 14 | €44,953 | €44,954 | +€1 | 0.0% |
| Amounts payable | 17/49 | €315,964 | €259,881 | -€56,083 | -17.7% |
| Amounts payable after more than one year | 17 | €231,209 | €203,459 | -€27,750 | -12.0% |
| Financial debts | 170/4 | €231,209 | €203,459 | -€27,750 | -12.0% |
| Amounts payable within one year | 42/48 | €83,652 | €56,386 | -€27,266 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €27,750 | €27,750 | = | 0.0% |
| Financial debts | 43 | - | €363 | +€363 | |
| Credit institutions | 430/8 | - | €363 | +€363 | |
| Trade debts | 44 | €28,063 | €5,414 | -€22,648 | -80.7% |
| Suppliers | 440/4 | €28,063 | €5,414 | -€22,648 | -80.7% |
| Taxes, remuneration and social security | 45 | €25,666 | €17,367 | -€8,299 | -32.3% |
| Taxes | 450/3 | €19,922 | €14,495 | -€5,427 | -27.2% |
| Remuneration and social security | 454/9 | €5,744 | €2,872 | -€2,872 | -50.0% |
| Other amounts payable | 47/48 | €2,173 | €5,491 | +€3,318 | +152.7% |
| Accrued charges and deferred income | 492/3 | €1,103 | €36 | -€1,067 | -96.8% |
| Remuneration, social security and pensions | 62 | €216 | €147 | -€68 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,661 | €34,574 | -€87 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€341 | -€11,739 | -€11,397 | -3338.8% |
| Other operating charges | 640/8 | €13,027 | €14,912 | +€1,885 | +14.5% |
| Gross operating margin | 9900 | €73,394 | €61,530 | -€11,864 | -16.2% |
| Operating profit (loss) | 9901 | €25,832 | €23,636 | -€2,197 | -8.5% |
| Financial income | 75/76B | €566 | €722 | +€156 | +27.7% |
| Recurring financial income | 75 | €566 | €722 | +€156 | +27.7% |
| Financial charges | 65/66B | €9,448 | €8,539 | -€909 | -9.6% |
| Recurring financial charges | 65 | €9,448 | €8,539 | -€909 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €16,950 | €15,818 | -€1,131 | -6.7% |
| Income taxes | 67/77 | €5,263 | €3,967 | -€1,296 | -24.6% |
| Profit (loss) for the period | 9904 | €11,686 | €11,851 | +€165 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,686 | €11,851 | +€165 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.