GRANUTOOLS: 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
GRANUTOOLS
NACE 26.510, Manufacture of computer, electronic and optical products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€331,138
2024 · -€156,168+€487,306
Equity
€838,969
2024 · €574,443+€264,527
Cash
€706,945
2024 · €331,051+€375,894
Balance sheet total
€2.2m
2024 · €1.4m+€833,600
Largest movements
Assets
- Receivables within one year +€612,144
up €612,144 (+113.0%), from €541,955 to €1.2m
of which Trade receivables: +€600,527
- Cash +€375,894
up €375,894 (+113.5%), from €331,051 to €706,945
mainly Trade debts (+€488,266) and Net result for the year (+€331,138)
- Stocks and contracts -€157,509
down €157,509 (-34.9%), from €451,450 to €293,941
Equity and liabilities
- Trade debts +€488,266
up €488,266 (+328.3%), from €148,745 to €637,011
- Profit (loss) carried forward +€264,527
up €264,527 (+53.8%), from €491,943 to €756,469
- Debts after one year +€99,500
up €99,500 (+98.8%), from €100,750 to €200,250
- Other debts +€50,748
up €50,748 (+88.6%), from €57,250 to €107,997
- Short-term financial debts -€47,561
down €47,561 (-15.5%), from €305,870 to €258,309
Income statement
- Gross operating margin +€410,760
up €410,760 (+45.1%), from €910,590 to €1.3m
- Staff costs -€136,396
down €136,396 (-13.8%), from €988,175 to €851,779
- Other operating charges +€39,548
up €39,548 (+88.0%), from €44,948 to €84,495
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
-€156,168
Gross operating margin
+€410,760
Staff costs
+€136,396
Depreciation
+€3,710
Other operating charges
-€39,548
Financial income
-€8,059
Financial charges
-€6,427
Taxes
-€9,527
Result 2025
€331,138
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
+€392,673
Investment
-€2,106
Financing
-€14,673
Cash 2024
€331,051
From operations (derived)
+€392,673
Net result for the year
+€331,138
Depreciation
+€8,678
Stocks and contracts
+€157,509
Receivables within one year
-€612,144
Deferred charges and accrued income
-€9,642
Trade debts
+€488,266
Tax, wage and social debts
+€721
Other debts
+€50,748
Accrued charges and deferred income
-€22,599
Investment (derived)
-€2,106
Investment in fixed assets (net)
-€2,097
Current investments
-€8
Financing
-€14,673
Debts after one year
+€99,500
Short-term financial debts
-€47,561
Contributions, distributions and other
-€66,611
Cash 2025
€706,945
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,382,766 | €2,216,367 | +€833,600 | +60.3% |
| Fixed assets | 21/28 | €18,779 | €12,199 | -€6,580 | -35.0% |
| Intangible fixed assets | 21 | €3,779 | €1,879 | -€1,900 | -50.3% |
| Tangible fixed assets | 22/27 | €12,780 | €8,101 | -€4,680 | -36.6% |
| Plant, machinery and equipment | 23 | €1,480 | €1,395 | -€84 | -5.7% |
| Furniture and vehicles | 24 | €11,301 | €6,705 | -€4,595 | -40.7% |
| Financial fixed assets | 28 | €2,220 | €2,220 | = | 0.0% |
| Current assets | 29/58 | €1,363,987 | €2,204,168 | +€840,180 | +61.6% |
| Stocks and contracts in progress | 3 | €451,450 | €293,941 | -€157,509 | -34.9% |
| Stocks | 30/36 | €451,450 | €293,941 | -€157,509 | -34.9% |
| Amounts receivable within one year | 40/41 | €541,955 | €1,154,099 | +€612,144 | +113.0% |
| Trade receivables | 40 | €507,557 | €1,108,084 | +€600,527 | +118.3% |
| Other amounts receivable | 41 | €34,397 | €46,015 | +€11,617 | +33.8% |
| Current investments | 50/53 | - | €8 | +€8 | |
| Cash at bank and in hand | 54/58 | €331,051 | €706,945 | +€375,894 | +113.5% |
| Deferred charges and accrued income | 490/1 | €39,532 | €49,174 | +€9,642 | +24.4% |
| Total equity and liabilities | 10/49 | €1,382,766 | €2,216,367 | +€833,600 | +60.3% |
| Equity | 10/15 | €574,443 | €838,969 | +€264,527 | +46.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €491,943 | €756,469 | +€264,527 | +53.8% |
| Provisions and deferred taxes | 16 | €35,654 | €35,654 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €35,654 | €35,654 | = | 0.0% |
| Other liabilities and charges | 164/5 | €35,654 | €35,654 | = | 0.0% |
| Amounts payable | 17/49 | €772,670 | €1,341,744 | +€569,074 | +73.7% |
| Amounts payable after more than one year | 17 | €100,750 | €200,250 | +€99,500 | +98.8% |
| Financial debts | 170/4 | €100,750 | €200,250 | +€99,500 | +98.8% |
| Amounts payable within one year | 42/48 | €649,321 | €1,141,494 | +€492,173 | +75.8% |
| Current portion of amounts payable after more than one year | 42 | €31,875 | €31,875 | = | 0.0% |
| Financial debts | 43 | €305,870 | €258,309 | -€47,561 | -15.5% |
| Credit institutions | 430/8 | €305,870 | €258,309 | -€47,561 | -15.5% |
| Trade debts | 44 | €148,745 | €637,011 | +€488,266 | +328.3% |
| Suppliers | 440/4 | €148,745 | €637,011 | +€488,266 | +328.3% |
| Taxes, remuneration and social security | 45 | €105,581 | €106,301 | +€721 | +0.7% |
| Taxes | 450/3 | €1,179 | €11,884 | +€10,705 | +908.4% |
| Remuneration and social security | 454/9 | €104,402 | €94,418 | -€9,984 | -9.6% |
| Other amounts payable | 47/48 | €57,250 | €107,997 | +€50,748 | +88.6% |
| Accrued charges and deferred income | 492/3 | €22,599 | €0 | -€22,599 | -100.0% |
| Remuneration, social security and pensions | 62 | €988,175 | €851,779 | -€136,396 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,388 | €8,678 | -€3,710 | -29.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €44,948 | €84,495 | +€39,548 | +88.0% |
| Gross operating margin | 9900 | €910,590 | €1,321,350 | +€410,760 | +45.1% |
| Operating profit (loss) | 9901 | -€134,921 | €376,398 | +€511,319 | |
| Financial income | 75/76B | €10,893 | €2,834 | -€8,059 | -74.0% |
| Recurring financial income | 75 | €10,893 | €2,834 | -€8,059 | -74.0% |
| Financial charges | 65/66B | €30,962 | €37,389 | +€6,427 | +20.8% |
| Recurring financial charges | 65 | €30,962 | €37,389 | +€6,427 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | -€154,990 | €341,843 | +€496,833 | |
| Income taxes | 67/77 | €1,179 | €10,705 | +€9,527 | +808.4% |
| Profit (loss) for the period | 9904 | -€156,168 | €331,138 | +€487,306 | |
| Profit (loss) for the period to be appropriated | 9905 | -€156,168 | €331,138 | +€487,306 |
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 2 October 2026 via checked.be.