Graphius: 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
Graphius
NACE 18.120, Other printing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€676,694
2024 · -€194,169+€870,863
Equity
€4.8m
2024 · €5.2m-€323,306
Cash
€118,350
2024 · €218,297-€99,946
Balance sheet total
€20.3m
2024 · €23.1m-€2.8m
Largest movements
Assets
- Receivables after one year -€2.1m
down €2.1m (-51.1%), from €4.1m to €2.0m
- Tangible fixed assets -€1.0m
down €1.0m (-15.3%), from €6.8m to €5.8m
of which Leasing and similar rights: -€795,961
- Receivables within one year -€592,782
down €592,782 (-8.2%), from €7.3m to €6.7m
of which Trade receivables: -€1.6m
- Stocks and contracts +€563,767
up €563,767 (+21.0%), from €2.7m to €3.2m
of which Stocks: +€520,494
- Intangible fixed assets +€413,339
up €413,339 (+20.8%), from €2.0m to €2.4m
Equity and liabilities
- Debts after one year -€1.6m
down €1.6m (-52.8%), from €3.0m to €1.4m
- Short-term financial debts -€697,305
down €697,305 (-100.0%), from €697,305 to €0
- Reserves -€323,306
down €323,306 (-8.2%), from €4.0m to €3.6m
of which Distributable reserves: -€614,456
- Current portion of long-term debt -€323,049
down €323,049 (-16.9%), from €1.9m to €1.6m
- Other debts -€261,085
down €261,085 (-94.5%), from €276,375 to €15,290
Income statement
- Turnover -€3.4m
down €3.4m (-7.9%), from €43.5m to €40.1m
- Staff costs -€2.2m
down €2.2m (-17.3%), from €13.0m to €10.7m
- Goods and materials -€1.5m
down €1.5m (-7.3%), from €21.1m to €19.5m
of which Purchases: -€1.6m
- Provisions -€1.4m
down €1.4m (-100.0%), from €1.4m to €0
- Other operating income -€1.3m
down €1.3m (-32.8%), from €3.9m to €2.6m
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
-€194,169
Turnover
-€3.4m
Other operating income
-€1.3m
Goods and materials
+€1.5m
Services and other goods
+€706,035
Staff costs
+€2.2m
Depreciation
-€86,647
Write-downs
+€777,712
Provisions
+€1.4m
Other operating charges
+€54,663
Other operating items
-€1.3m
Financial income
-€255,075
Financial charges
+€310,121
Taxes
+€393,210
Deferred taxes and other
-€196,777
Result 2025
€676,694
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
+€4.8m
Investment
-€1.3m
Financing
-€3.6m
Cash 2024
€218,297
From operations (derived)
+€4.8m
Net result for the year
+€676,694
Depreciation
+€2.0m
Receivables after one year
+€2.1m
Stocks and contracts
-€563,767
Receivables within one year
+€592,782
Deferred charges and accrued income
-€33,794
Provisions
+€99,550
Trade debts
+€57,420
Tax, wage and social debts
+€23,328
Advances received
+€180,658
Other debts
-€261,085
Accrued charges and deferred income
+€16,603
Investment (derived)
-€1.3m
Investment in fixed assets (net)
-€1.3m
Financing
-€3.6m
Debts after one year
-€1.6m
Current portion of long-term debt
-€323,049
Short-term financial debts
-€697,305
Contributions, distributions and other
-€1.0m
Cash 2025
€118,350
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,146,241 | €20,332,455 | -€2.8m | -12.2% |
| Fixed assets | 21/28 | €8,787,510 | €8,158,628 | -€628,882 | -7.2% |
| Intangible fixed assets | 21 | €1,987,100 | €2,400,439 | +€413,339 | +20.8% |
| Tangible fixed assets | 22/27 | €6,795,159 | €5,752,939 | -€1.0m | -15.3% |
| Land and buildings | 22 | €3,783,303 | €3,575,901 | -€207,402 | -5.5% |
| Plant, machinery and equipment | 23 | €761,506 | €834,925 | +€73,419 | +9.6% |
| Furniture and vehicles | 24 | €289,035 | €176,759 | -€112,277 | -38.8% |
| Leasing and similar rights | 25 | €1,961,315 | €1,165,355 | -€795,961 | -40.6% |
| Financial fixed assets | 28 | €5,251 | €5,251 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,251 | €5,251 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €5,251 | €5,251 | = | 0.0% |
| Current assets | 29/58 | €14,358,731 | €12,173,827 | -€2.2m | -15.2% |
| Amounts receivable after more than one year | 29 | €4,089,737 | €2,000,000 | -€2.1m | -51.1% |
| Other amounts receivable | 291 | €4,089,737 | €2,000,000 | -€2.1m | -51.1% |
| Stocks and contracts in progress | 3 | €2,678,520 | €3,242,288 | +€563,767 | +21.0% |
| Stocks | 30/36 | €1,694,525 | €2,215,019 | +€520,494 | +30.7% |
| Raw materials and consumables | 30/31 | €1,694,525 | €1,690,418 | -€4,106 | -0.2% |
| Finished goods | 33 | - | €524,601 | +€524,601 | |
| Contracts in progress | 37 | €983,996 | €1,027,269 | +€43,273 | +4.4% |
| Amounts receivable within one year | 40/41 | €7,251,730 | €6,658,949 | -€592,782 | -8.2% |
| Trade receivables | 40 | €7,001,051 | €5,363,321 | -€1.6m | -23.4% |
| Other amounts receivable | 41 | €250,679 | €1,295,628 | +€1.0m | +416.8% |
| Cash at bank and in hand | 54/58 | €218,297 | €118,350 | -€99,946 | -45.8% |
| Deferred charges and accrued income | 490/1 | €120,446 | €154,240 | +€33,794 | +28.1% |
| Total equity and liabilities | 10/49 | €23,146,241 | €20,332,455 | -€2.8m | -12.2% |
| Equity | 10/15 | €5,168,214 | €4,844,908 | -€323,306 | -6.3% |
| Contributions | 10/11 | €1,217,600 | €1,217,600 | = | 0.0% |
| Capital | 10 | €696,159 | €696,159 | = | 0.0% |
| Issued capital | 100 | €708,559 | €708,559 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Outside capital | 11 | €521,441 | €521,441 | = | 0.0% |
| Share premium | 1100/10 | €521,441 | €521,441 | = | 0.0% |
| Reserves | 13 | €3,950,614 | €3,627,308 | -€323,306 | -8.2% |
| Non-distributable reserves | 130/1 | €122,824 | €122,824 | = | 0.0% |
| Legal reserve | 130 | €122,824 | €122,824 | = | 0.0% |
| Tax-exempt reserves | 132 | €760,733 | €1,051,883 | +€291,150 | +38.3% |
| Distributable reserves | 133 | €3,067,057 | €2,452,601 | -€614,456 | -20.0% |
| Provisions and deferred taxes | 16 | €1,753,378 | €1,852,928 | +€99,550 | +5.7% |
| Provisions for liabilities and charges | 160/5 | €1,561,077 | €1,561,077 | = | 0.0% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €1,561,077 | €1,561,077 | = | 0.0% |
| Deferred taxes | 168 | €192,301 | €291,851 | +€99,550 | +51.8% |
| Amounts payable | 17/49 | €16,224,649 | €13,634,619 | -€2.6m | -16.0% |
| Amounts payable after more than one year | 17 | €3,004,151 | €1,417,550 | -€1.6m | -52.8% |
| Financial debts | 170/4 | €3,004,151 | €1,417,550 | -€1.6m | -52.8% |
| Leasing and similar obligations | 172 | €1,118,741 | €407,551 | -€711,190 | -63.6% |
| Credit institutions | 173 | €1,885,410 | €1,009,999 | -€875,410 | -46.4% |
| Amounts payable within one year | 42/48 | €13,201,392 | €12,181,360 | -€1.0m | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €1,909,650 | €1,586,601 | -€323,049 | -16.9% |
| Financial debts | 43 | €697,305 | €0 | -€697,305 | -100.0% |
| Credit institutions | 430/8 | €697,305 | €0 | -€697,305 | -100.0% |
| Trade debts | 44 | €7,632,569 | €7,689,990 | +€57,420 | +0.8% |
| Suppliers | 440/4 | €7,632,569 | €7,689,990 | +€57,420 | +0.8% |
| Advances received on contracts in progress | 46 | €366,655 | €547,313 | +€180,658 | +49.3% |
| Taxes, remuneration and social security | 45 | €2,318,838 | €2,342,166 | +€23,328 | +1.0% |
| Taxes | 450/3 | €763,761 | €736,278 | -€27,483 | -3.6% |
| Remuneration and social security | 454/9 | €1,555,077 | €1,605,888 | +€50,811 | +3.3% |
| Other amounts payable | 47/48 | €276,375 | €15,290 | -€261,085 | -94.5% |
| Accrued charges and deferred income | 492/3 | €19,106 | €35,709 | +€16,603 | +86.9% |
| Operating income | 70/76A | €47,408,363 | €43,336,940 | -€4.1m | -8.6% |
| Turnover | 70 | €43,523,761 | €40,100,025 | -€3.4m | -7.9% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€34,021 | €567,874 | +€601,895 | |
| Other operating income | 74 | €3,873,524 | €2,604,319 | -€1.3m | -32.8% |
| Non-recurring operating income | 76A | €45,100 | €64,722 | +€19,622 | +43.5% |
| Operating charges | 60/66A | €46,844,005 | €42,153,199 | -€4.7m | -10.0% |
| Goods for resale, raw materials and consumables | 60 | €21,062,812 | €19,527,147 | -€1.5m | -7.3% |
| Purchases | 600/8 | €21,090,546 | €19,523,041 | -€1.6m | -7.4% |
| Change in stocks: decrease (increase) | 609 | -€27,735 | €4,106 | +€31,841 | |
| Services and other goods | 61 | €9,216,654 | €8,510,620 | -€706,035 | -7.7% |
| Remuneration, social security and pensions | 62 | €12,977,396 | €10,732,791 | -€2.2m | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,883,060 | €1,969,707 | +€86,647 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,740 | -€720,972 | -€777,712 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €1,373,744 | €0 | -€1.4m | -100.0% |
| Other operating charges | 640/8 | €255,996 | €201,333 | -€54,663 | -21.4% |
| Non-recurring operating charges | 66A | €17,603 | €1,932,572 | +€1.9m | +10878.6% |
| Operating profit (loss) | 9901 | €564,358 | €1,183,741 | +€619,384 | +109.8% |
| Financial income | 75/76B | €407,302 | €152,227 | -€255,075 | -62.6% |
| Recurring financial income | 75 | €407,302 | €152,227 | -€255,075 | -62.6% |
| Income from current assets | 751 | €323,473 | €105,612 | -€217,861 | -67.4% |
| Other financial income | 752/9 | €83,828 | €46,615 | -€37,213 | -44.4% |
| Financial charges | 65/66B | €690,332 | €380,211 | -€310,121 | -44.9% |
| Recurring financial charges | 65 | €690,332 | €380,211 | -€310,121 | -44.9% |
| Debt charges | 650 | €593,618 | €229,879 | -€363,739 | -61.3% |
| Other financial charges | 652/9 | €96,714 | €150,332 | +€53,618 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €281,327 | €955,757 | +€674,430 | +239.7% |
| Transfer from deferred taxes | 780 | €97,227 | €100,450 | +€3,223 | +3.3% |
| Transfer to deferred taxes | 680 | - | €200,000 | +€200,000 | |
| Income taxes | 67/77 | €572,723 | €179,513 | -€393,210 | -68.7% |
| Taxes | 670/3 | €575,000 | €179,513 | -€395,487 | -68.8% |
| Tax adjustments and reversals of tax provisions | 77 | €2,277 | €0 | -€2,277 | -100.0% |
| Profit (loss) for the period | 9904 | -€194,169 | €676,694 | +€870,863 | |
| Transfer from tax-exempt reserves | 789 | €291,680 | €308,850 | +€17,170 | +5.9% |
| Transfer to tax-exempt reserves | 689 | €7,500 | €600,000 | +€592,500 | +7900.0% |
| Profit (loss) for the period to be appropriated | 9905 | €90,011 | €385,544 | +€295,534 | +328.3% |
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 30 September 2026 via checked.be.