GRAPHITE BELGIUM: 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.
GRAPHITE BELGIUM
Largest movements
- Cash -€70,350
down €70,350 (-77.6%), from €90,609 to €20,259
mainly Other debts (-€84,058) and Stocks and contracts (-€69,619)
- Stocks and contracts +€69,619
up €69,619 (+25.1%), from €276,947 to €346,566
- Receivables within one year +€50,265
up €50,265 (+319%), from €15,765 to €66,031
of which Trade receivables: +€38,620
- Tangible fixed assets +€33,274
up €33,274 (+77.4%), from €43,000 to €76,275
of which Plant, machinery and equipment: +€36,498
- Financial fixed assets -€6,000
no longer reported in 2025 (was €6,000)
- Other debts -€84,058
down €84,058 (-43.8%), from €191,795 to €107,737
- Trade debts +€81,077
up €81,077 (+426%), from €19,021 to €100,098
- Profit (loss) carried forward +€74,960
up €74,960 (+50.4%), from €148,735 to €223,695
- Tax, wage and social debts +€5,430
up €5,430 (+9.5%), from €57,093 to €62,522
of which Remuneration and social security: +€11,242
- Gross operating margin +€109,490
up €109,490 (+55.4%), from €197,617 to €307,107
- Staff costs +€109,422
up €109,422 (+127%), from €86,473 to €195,895
- Depreciation +€5,052
up €5,052 (+78.0%), from €6,475 to €11,528
- Taxes +€4,952
up €4,952 (+31.5%), from €15,729 to €20,681
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 | €435,871 | €513,280 | +€77,409 | +17.8% |
| Fixed assets | 21/28 | €49,000 | €76,275 | +€27,274 | +55.7% |
| Tangible fixed assets | 22/27 | €43,000 | €76,275 | +€33,274 | +77.4% |
| Plant, machinery and equipment | 23 | €24,775 | €61,273 | +€36,498 | +147% |
| Furniture and vehicles | 24 | €3,470 | €3,349 | -€122 | -3.5% |
| Other tangible fixed assets | 26 | €14,755 | €11,652 | -€3,102 | -21.0% |
| Financial fixed assets | 28 | €6,000 | - | -€6,000 | |
| Current assets | 29/58 | €386,871 | €437,005 | +€50,134 | +13.0% |
| Stocks and contracts in progress | 3 | €276,947 | €346,566 | +€69,619 | +25.1% |
| Stocks | 30/36 | €276,947 | €346,566 | +€69,619 | +25.1% |
| Amounts receivable within one year | 40/41 | €15,765 | €66,031 | +€50,265 | +319% |
| Trade receivables | 40 | €15,000 | €53,620 | +€38,620 | +257% |
| Other amounts receivable | 41 | €765 | €12,411 | +€11,645 | +1,522% |
| Cash at bank and in hand | 54/58 | €90,609 | €20,259 | -€70,350 | -77.6% |
| Deferred charges and accrued income | 490/1 | €3,550 | €4,150 | +€600 | +16.9% |
| Total equity and liabilities | 10/49 | €435,871 | €513,280 | +€77,409 | +17.8% |
| Equity | 10/15 | €149,362 | €224,322 | +€74,960 | +50.2% |
| Reserves | 13 | €627 | €627 | = | 0.0% |
| Non-distributable reserves | 130/1 | €627 | - | -€627 | |
| Reserves not available under the articles | 1311 | €627 | - | -€627 | |
| Distributable reserves | 133 | - | €627 | +€627 | |
| Profit (loss) carried forward | 14 | €148,735 | €223,695 | +€74,960 | +50.4% |
| Amounts payable | 17/49 | €286,509 | €288,958 | +€2,449 | +0.9% |
| Amounts payable after more than one year | 17 | €18,600 | €18,600 | = | 0.0% |
| Financial debts | 170/4 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €267,909 | €270,358 | +€2,449 | +0.9% |
| Trade debts | 44 | €19,021 | €100,098 | +€81,077 | +426% |
| Suppliers | 440/4 | €19,021 | €100,098 | +€81,077 | +426% |
| Taxes, remuneration and social security | 45 | €57,093 | €62,522 | +€5,430 | +9.5% |
| Taxes | 450/3 | €42,271 | €36,459 | -€5,813 | -13.8% |
| Remuneration and social security | 454/9 | €14,821 | €26,064 | +€11,242 | +75.9% |
| Other amounts payable | 47/48 | €191,795 | €107,737 | -€84,058 | -43.8% |
| Remuneration, social security and pensions | 62 | €86,473 | €195,895 | +€109,422 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,475 | €11,528 | +€5,052 | +78.0% |
| Other operating charges | 640/8 | €5,598 | €3,424 | -€2,174 | -38.8% |
| Gross operating margin | 9900 | €197,617 | €307,107 | +€109,490 | +55.4% |
| Operating profit (loss) | 9901 | €99,071 | €96,261 | -€2,810 | -2.8% |
| Financial income | 75/76B | €37 | €540 | +€503 | +1,373% |
| Recurring financial income | 75 | €37 | €540 | +€503 | +1,373% |
| Financial charges | 65/66B | €983 | €1,160 | +€177 | +18.0% |
| Recurring financial charges | 65 | €983 | €1,160 | +€177 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €98,125 | €95,641 | -€2,484 | -2.5% |
| Income taxes | 67/77 | €15,729 | €20,681 | +€4,952 | +31.5% |
| Profit (loss) for the period | 9904 | €82,396 | €74,960 | -€7,436 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,396 | €74,960 | -€7,436 | -9.0% |
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 16 October 2026 via checked.be.