GRAPHCOM: 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.
GRAPHCOM
Largest movements
- Financial fixed assets +€47,500
new in 2025: €47,500
- Receivables within one year +€13,531
up €13,531 (+39.7%), from €34,102 to €47,632
of which Trade receivables: +€21,251
- Cash +€2,731
new in 2025: €2,731
mainly Debts after one year (+€29,133) and Trade debts (+€27,459)
- Debts after one year +€29,133
new in 2025: €29,133
- Trade debts +€27,459
up €27,459 (+263.8%), from €10,408 to €37,867
- Current portion of long-term debt +€9,358
new in 2025: €9,358
- Profit (loss) carried forward -€3,937
down €3,937 (-24.4%), from -€16,161 to -€20,099
- Short-term financial debts +€2,502
up €2,502 (+178.8%), from €1,399 to €3,901
- Gross operating margin +€17,390
up €17,390 (+97.0%), from -€17,922 to -€532
- Financial charges +€429
up €429 (+54.9%), from €781 to €1,210
- Depreciation +€261
up €261 (+19.7%), from €1,325 to €1,585
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 | €38,133 | €101,286 | +€63,153 | +165.6% |
| Fixed assets | 21/28 | €1,599 | €49,222 | +€47,623 | +2977.7% |
| Tangible fixed assets | 22/27 | €1,599 | €1,722 | +€123 | +7.7% |
| Furniture and vehicles | 24 | €1,599 | €1,722 | +€123 | +7.7% |
| Financial fixed assets | 28 | - | €47,500 | +€47,500 | |
| Current assets | 29/58 | €36,533 | €52,063 | +€15,530 | +42.5% |
| Amounts receivable within one year | 40/41 | €34,102 | €47,632 | +€13,531 | +39.7% |
| Trade receivables | 40 | €16,383 | €37,634 | +€21,251 | +129.7% |
| Other amounts receivable | 41 | €17,719 | €9,999 | -€7,720 | -43.6% |
| Cash at bank and in hand | 54/58 | - | €2,731 | +€2,731 | |
| Deferred charges and accrued income | 490/1 | €2,432 | €1,700 | -€732 | -30.1% |
| Total equity and liabilities | 10/49 | €38,133 | €101,286 | +€63,153 | +165.6% |
| Equity | 10/15 | €16,899 | €12,961 | -€3,937 | -23.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,161 | -€20,099 | -€3,937 | -24.4% |
| Amounts payable | 17/49 | €21,234 | €88,324 | +€67,090 | +316.0% |
| Amounts payable after more than one year | 17 | - | €29,133 | +€29,133 | |
| Financial debts | 170/4 | - | €29,133 | +€29,133 | |
| Amounts payable within one year | 42/48 | €21,234 | €59,192 | +€37,958 | +178.8% |
| Current portion of amounts payable after more than one year | 42 | - | €9,358 | +€9,358 | |
| Financial debts | 43 | €1,399 | €3,901 | +€2,502 | +178.8% |
| Credit institutions | 430/8 | €1,399 | €3,901 | +€2,502 | +178.8% |
| Trade debts | 44 | €10,408 | €37,867 | +€27,459 | +263.8% |
| Suppliers | 440/4 | €10,408 | €37,867 | +€27,459 | +263.8% |
| Taxes, remuneration and social security | 45 | €9,426 | €8,065 | -€1,361 | -14.4% |
| Taxes | 450/3 | €9,426 | €8,065 | -€1,361 | -14.4% |
| Non-recurring operating income | 76A | €348 | €0 | -€348 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,325 | €1,585 | +€261 | +19.7% |
| Other operating charges | 640/8 | €454 | €459 | +€5 | +1.1% |
| Non-recurring operating charges | 66A | - | €75 | +€75 | |
| Gross operating margin | 9900 | -€17,922 | -€532 | +€17,390 | +97.0% |
| Operating profit (loss) | 9901 | -€19,700 | -€2,652 | +€17,049 | +86.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1200.0% |
| Financial charges | 65/66B | €781 | €1,210 | +€429 | +54.9% |
| Recurring financial charges | 65 | €781 | €1,210 | +€429 | +54.9% |
| Profit (loss) for the period before taxes | 9903 | -€20,481 | -€3,861 | +€16,620 | +81.1% |
| Income taxes | 67/77 | €135 | €76 | -€59 | -43.8% |
| Profit (loss) for the period | 9904 | -€20,617 | -€3,937 | +€16,679 | +80.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,617 | -€3,937 | +€16,679 | +80.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.