GRAPPA: 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.
GRAPPA
Largest movements
- Cash +€42,507
up €42,507 (+30,436%), from €140 to €42,647
mainly Other debts (+€70,453) and Net result for the year (+€31,401)
- Tangible fixed assets +€13,807
up €13,807 (+3.9%), from €358,413 to €372,220
of which Furniture and vehicles: +€18,565
- Other debts +€70,453
up €70,453 (+133%), from €52,804 to €123,257
- Short-term financial debts -€44,446
down €44,446 (-100%), from €44,446 to €0
- Reserves +€32,739
up €32,739 (+1,760%), from €1,860 to €34,599
of which Distributable reserves: +€32,739
- Profit (loss) carried forward -€26,338
down €26,338 (-100%), from €26,338 to €0
- Trade debts +€17,825
up €17,825 (+454%), from €3,926 to €21,750
- Gross operating margin +€92,990
up €92,990 (+77.6%), from €119,846 to €212,836
- Staff costs +€36,123
up €36,123 (+32.6%), from €110,731 to €146,854
- Depreciation +€5,460
up €5,460 (+34.2%), from €15,961 to €21,421
- Write-downs -€4,025
down €4,025 (-100%), from €4,025 to €0
- Financial income -€3,596
down €3,596 (-99.8%), from €3,604 to €9
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 | €381,214 | €438,928 | +€57,715 | +15.1% |
| Fixed assets | 21/28 | €359,213 | €373,390 | +€14,176 | +3.9% |
| Intangible fixed assets | 21 | - | €369 | +€369 | |
| Tangible fixed assets | 22/27 | €358,413 | €372,220 | +€13,807 | +3.9% |
| Land and buildings | 22 | €346,330 | €337,612 | -€8,718 | -2.5% |
| Plant, machinery and equipment | 23 | €6,190 | €10,150 | +€3,960 | +64.0% |
| Furniture and vehicles | 24 | €5,894 | €24,458 | +€18,565 | +315% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €22,000 | €65,539 | +€43,539 | +198% |
| Amounts receivable within one year | 40/41 | €20,037 | €18,459 | -€1,578 | -7.9% |
| Trade receivables | 40 | €10,346 | €9,006 | -€1,339 | -12.9% |
| Other amounts receivable | 41 | €9,691 | €9,452 | -€239 | -2.5% |
| Cash at bank and in hand | 54/58 | €140 | €42,647 | +€42,507 | +30,436% |
| Deferred charges and accrued income | 490/1 | €1,824 | €4,433 | +€2,610 | +143% |
| Total equity and liabilities | 10/49 | €381,214 | €438,928 | +€57,715 | +15.1% |
| Equity | 10/15 | €46,798 | €53,199 | +€6,401 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €34,599 | +€32,739 | +1,760% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €34,599 | +€32,739 | +1,760% |
| Profit (loss) carried forward | 14 | €26,338 | €0 | -€26,338 | -100% |
| Amounts payable | 17/49 | €334,416 | €385,729 | +€51,313 | +15.3% |
| Amounts payable after more than one year | 17 | €182,911 | €193,868 | +€10,957 | +6.0% |
| Financial debts | 170/4 | €2,911 | €13,868 | +€10,957 | +376% |
| Other amounts payable | 178/9 | €180,000 | €180,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €137,478 | €176,137 | +€38,660 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €8,330 | €8,347 | +€18 | +0.2% |
| Financial debts | 43 | €44,446 | €0 | -€44,446 | -100% |
| Credit institutions | 430/8 | €44,446 | €0 | -€44,446 | -100% |
| Trade debts | 44 | €3,926 | €21,750 | +€17,825 | +454% |
| Suppliers | 440/4 | €3,926 | €21,750 | +€17,825 | +454% |
| Taxes, remuneration and social security | 45 | €27,973 | €22,782 | -€5,191 | -18.6% |
| Taxes | 450/3 | €6,420 | €8,532 | +€2,111 | +32.9% |
| Remuneration and social security | 454/9 | €21,552 | €14,250 | -€7,302 | -33.9% |
| Other amounts payable | 47/48 | €52,804 | €123,257 | +€70,453 | +133% |
| Accrued charges and deferred income | 492/3 | €14,027 | €15,724 | +€1,697 | +12.1% |
| Remuneration, social security and pensions | 62 | €110,731 | €146,854 | +€36,123 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,961 | €21,421 | +€5,460 | +34.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,025 | €0 | -€4,025 | -100% |
| Other operating charges | 640/8 | €1,464 | €1,612 | +€147 | +10.0% |
| Gross operating margin | 9900 | €119,846 | €212,836 | +€92,990 | +77.6% |
| Operating profit (loss) | 9901 | -€12,336 | €42,949 | +€55,285 | |
| Financial income | 75/76B | €3,604 | €9 | -€3,596 | -99.8% |
| Recurring financial income | 75 | €3,604 | €9 | -€3,596 | -99.8% |
| Financial charges | 65/66B | €10,829 | €11,240 | +€411 | +3.8% |
| Recurring financial charges | 65 | €10,829 | €11,240 | +€411 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,560 | €31,718 | +€51,278 | |
| Income taxes | 67/77 | €336 | €316 | -€20 | -6.0% |
| Profit (loss) for the period | 9904 | -€19,897 | €31,401 | +€51,298 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,897 | €31,401 | +€51,298 |
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 20 October 2026 via checked.be.