Graphelec: 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.
Graphelec
Largest movements
- Tangible fixed assets +€9,589
up €9,589 (+3.2%), from €297,204 to €306,793
of which Land and buildings: +€11,183
- Stocks and contracts -€8,500
down €8,500 (-45.9%), from €18,500 to €10,000
- Receivables within one year +€7,941
up €7,941 (+21.7%), from €36,676 to €44,617
of which Other amounts receivable: +€4,806
- Cash +€5,987
up €5,987 (+227%), from €2,632 to €8,619
mainly Other debts (+€18,842) and Depreciation (+€16,478)
- Trade debts -€20,209
down €20,209 (-59.7%), from €33,844 to €13,636
- Other debts +€18,842
up €18,842 (+28.0%), from €67,377 to €86,219
- Profit (loss) carried forward +€12,552
up €12,552 (+55.6%), from €22,582 to €35,134
- Current portion of long-term debt +€5,050
up €5,050 (+48.5%), from €10,408 to €15,458
- Gross operating margin +€27,384
up €27,384 (+151%), from €18,107 to €45,492
- Depreciation +€7,724
up €7,724 (+88.2%), from €8,754 to €16,478
- Financial charges +€5,266
up €5,266 (+94.9%), from €5,546 to €10,811
- Staff costs +€2,268
up €2,268 (+659%), from €344 to €2,612
- Taxes +€1,334
up €1,334 (+485%), from €275 to €1,609
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 | €362,001 | €377,835 | +€15,834 | +4.4% |
| Fixed assets | 21/28 | €298,504 | €306,793 | +€8,289 | +2.8% |
| Tangible fixed assets | 22/27 | €297,204 | €306,793 | +€9,589 | +3.2% |
| Land and buildings | 22 | €283,494 | €294,677 | +€11,183 | +3.9% |
| Plant, machinery and equipment | 23 | €9,188 | €7,980 | -€1,208 | -13.1% |
| Furniture and vehicles | 24 | €4,522 | €4,135 | -€387 | -8.5% |
| Financial fixed assets | 28 | €1,300 | - | -€1,300 | |
| Current assets | 29/58 | €63,497 | €71,042 | +€7,545 | +11.9% |
| Stocks and contracts in progress | 3 | €18,500 | €10,000 | -€8,500 | -45.9% |
| Stocks | 30/36 | €18,500 | €10,000 | -€8,500 | -45.9% |
| Amounts receivable within one year | 40/41 | €36,676 | €44,617 | +€7,941 | +21.7% |
| Trade receivables | 40 | €33,785 | €36,920 | +€3,135 | +9.3% |
| Other amounts receivable | 41 | €2,891 | €7,697 | +€4,806 | +166% |
| Cash at bank and in hand | 54/58 | €2,632 | €8,619 | +€5,987 | +227% |
| Deferred charges and accrued income | 490/1 | €5,689 | €7,806 | +€2,118 | +37.2% |
| Total equity and liabilities | 10/49 | €362,001 | €377,835 | +€15,834 | +4.4% |
| Equity | 10/15 | €30,642 | €43,194 | +€12,552 | +41.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,582 | €35,134 | +€12,552 | +55.6% |
| Amounts payable | 17/49 | €331,359 | €334,641 | +€3,282 | +1.0% |
| Amounts payable after more than one year | 17 | €217,059 | €216,000 | -€1,059 | -0.5% |
| Financial debts | 170/4 | €217,059 | €216,000 | -€1,059 | -0.5% |
| Amounts payable within one year | 42/48 | €114,300 | €118,301 | +€4,001 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €10,408 | €15,458 | +€5,050 | +48.5% |
| Trade debts | 44 | €33,844 | €13,636 | -€20,209 | -59.7% |
| Suppliers | 440/4 | €33,844 | €13,636 | -€20,209 | -59.7% |
| Taxes, remuneration and social security | 45 | €2,671 | €2,988 | +€318 | +11.9% |
| Taxes | 450/3 | €2,671 | €1,505 | -€1,166 | -43.6% |
| Remuneration and social security | 454/9 | - | €1,483 | +€1,483 | |
| Other amounts payable | 47/48 | €67,377 | €86,219 | +€18,842 | +28.0% |
| Accrued charges and deferred income | 492/3 | - | €340 | +€340 | |
| Remuneration, social security and pensions | 62 | €344 | €2,612 | +€2,268 | +659% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,754 | €16,478 | +€7,724 | +88.2% |
| Other operating charges | 640/8 | €1,265 | €1,430 | +€165 | +13.0% |
| Gross operating margin | 9900 | €18,107 | €45,492 | +€27,384 | +151% |
| Operating profit (loss) | 9901 | €7,744 | €24,972 | +€17,228 | +222% |
| Financial income | 75/76B | €461 | €0 | -€461 | -100.0% |
| Recurring financial income | 75 | €461 | €0 | -€461 | -100.0% |
| Financial charges | 65/66B | €5,546 | €10,811 | +€5,266 | +94.9% |
| Recurring financial charges | 65 | €5,546 | €10,811 | +€5,266 | +94.9% |
| Profit (loss) for the period before taxes | 9903 | €2,659 | €14,161 | +€11,502 | +432% |
| Income taxes | 67/77 | €275 | €1,609 | +€1,334 | +485% |
| Profit (loss) for the period | 9904 | €2,384 | €12,552 | +€10,168 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €2,384 | €12,552 | +€10,168 | +426% |
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 17 October 2026 via checked.be.