Graphene: 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.
Graphene
Largest movements
- Cash +€128,661
up €128,661 (+249%), from €51,655 to €180,316
mainly Other debts (+€412,782) and Net result for the year (+€223,642)
- Financial fixed assets -€60,000
down €60,000 (-6.1%), from €982,153 to €922,153
- Intangible fixed assets -€19,428
down €19,428 (-4.9%), from €392,724 to €373,296
- Tangible fixed assets +€18,624
up €18,624 (+20.6%), from €90,317 to €108,941
of which Plant, machinery and equipment: +€34,560
- Profit (loss) carried forward -€500,000
down €500,000 (-83.8%), from €596,649 to €96,649
- Other debts +€412,782
up €412,782 (+1,132%), from €36,462 to €449,244
- Reserves +€223,642
up €223,642 (+44.5%), from €502,183 to €725,825
- Debts after one year -€145,684
down €145,684 (-40.1%), from €363,279 to €217,595
- Tax, wage and social debts +€35,042
up €35,042 (+398%), from €8,794 to €43,836
of which Taxes: +€35,542
- Gross operating margin +€127,027
up €127,027 (+58.2%), from €218,332 to €345,359
- Taxes +€23,385
up €23,385 (+52.7%), from €44,382 to €67,767
- Depreciation +€10,691
up €10,691 (+40.1%), from €26,678 to €37,369
- Financial charges +€3,720
up €3,720 (+38.3%), from €9,706 to €13,425
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 | €1,565,976 | €1,619,057 | +€53,081 | +3.4% |
| Fixed assets | 21/28 | €1,465,195 | €1,404,390 | -€60,805 | -4.1% |
| Intangible fixed assets | 21 | €392,724 | €373,296 | -€19,428 | -4.9% |
| Tangible fixed assets | 22/27 | €90,317 | €108,941 | +€18,624 | +20.6% |
| Plant, machinery and equipment | 23 | €2,849 | €37,409 | +€34,560 | +1,213% |
| Furniture and vehicles | 24 | €87,468 | €71,532 | -€15,936 | -18.2% |
| Financial fixed assets | 28 | €982,153 | €922,153 | -€60,000 | -6.1% |
| Current assets | 29/58 | €100,782 | €214,667 | +€113,886 | +113% |
| Amounts receivable within one year | 40/41 | €48,054 | €33,638 | -€14,416 | -30.0% |
| Trade receivables | 40 | €40,421 | €30,691 | -€9,730 | -24.1% |
| Other amounts receivable | 41 | €7,633 | €2,946 | -€4,687 | -61.4% |
| Cash at bank and in hand | 54/58 | €51,655 | €180,316 | +€128,661 | +249% |
| Deferred charges and accrued income | 490/1 | €1,073 | €714 | -€359 | -33.5% |
| Total equity and liabilities | 10/49 | €1,565,976 | €1,619,057 | +€53,081 | +3.4% |
| Equity | 10/15 | €1,117,433 | €841,075 | -€276,358 | -24.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €502,183 | €725,825 | +€223,642 | +44.5% |
| Distributable reserves | 133 | €502,183 | €725,825 | +€223,642 | +44.5% |
| Profit (loss) carried forward | 14 | €596,649 | €96,649 | -€500,000 | -83.8% |
| Amounts payable | 17/49 | €448,543 | €777,982 | +€329,439 | +73.4% |
| Amounts payable after more than one year | 17 | €363,279 | €217,595 | -€145,684 | -40.1% |
| Financial debts | 170/4 | €363,279 | €217,595 | -€145,684 | -40.1% |
| Amounts payable within one year | 42/48 | €85,264 | €560,388 | +€475,123 | +557% |
| Current portion of amounts payable after more than one year | 42 | €39,280 | €36,333 | -€2,947 | -7.5% |
| Trade debts | 44 | €729 | €30,975 | +€30,246 | +4,151% |
| Suppliers | 440/4 | €729 | €30,975 | +€30,246 | +4,151% |
| Taxes, remuneration and social security | 45 | €8,794 | €43,836 | +€35,042 | +398% |
| Taxes | 450/3 | €6,294 | €41,836 | +€35,542 | +565% |
| Remuneration and social security | 454/9 | €2,500 | €2,000 | -€500 | -20.0% |
| Other amounts payable | 47/48 | €36,462 | €449,244 | +€412,782 | +1,132% |
| Non-recurring operating income | 76A | - | €123,716 | +€123,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,678 | €37,369 | +€10,691 | +40.1% |
| Other operating charges | 640/8 | €1,221 | €3,981 | +€2,760 | +226% |
| Gross operating margin | 9900 | €218,332 | €345,359 | +€127,027 | +58.2% |
| Operating profit (loss) | 9901 | €190,433 | €304,009 | +€113,576 | +59.6% |
| Financial income | 75/76B | €5 | €826 | +€821 | +15,339% |
| Recurring financial income | 75 | €5 | €826 | +€821 | +15,339% |
| Financial charges | 65/66B | €9,706 | €13,425 | +€3,720 | +38.3% |
| Recurring financial charges | 65 | €9,706 | €13,425 | +€3,720 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €180,733 | €291,409 | +€110,677 | +61.2% |
| Income taxes | 67/77 | €44,382 | €67,767 | +€23,385 | +52.7% |
| Profit (loss) for the period | 9904 | €136,351 | €223,642 | +€87,291 | +64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €136,351 | €223,642 | +€87,291 | +64.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.