GRAPPOLO: 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.
GRAPPOLO
Largest movements
- Stocks and contracts +€11,114
up €11,114 (+11.9%), from €93,130 to €104,244
- Cash -€5,044
down €5,044 (-78.9%), from €6,395 to €1,351
mainly Stocks and contracts (-€11,114) and Contributions, distributions and other (-€6,901)
- Receivables within one year +€2,006
up €2,006 (+31.7%), from €6,335 to €8,341
of which Trade receivables: +€3,592
- Short-term financial debts +€5,908
new in 2025: €5,908
- Trade debts +€4,863
up €4,863 (+345.7%), from €1,407 to €6,270
- Other debts -€3,872
down €3,872 (-6.9%), from €55,933 to €52,061
- Gross operating margin +€8,581
up €8,581 (+99.7%), from €8,611 to €17,192
- Taxes +€3,573
up €3,573 (+496.1%), from €720 to €4,294
- Depreciation -€1,333
down €1,333 (-100.0%), from €1,333 to €0
- Financial charges -€427
down €427 (-8.4%), from €5,116 to €4,689
- Financial income +€233
up €233 (+1215.9%), from €19 to €252
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €106,861 | €114,921 | +€8,060 | +7.5% |
| Fixed assets | 21/28 | €800 | €800 | = | 0.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €106,061 | €114,121 | +€8,060 | +7.6% |
| Stocks and contracts in progress | 3 | €93,130 | €104,244 | +€11,114 | +11.9% |
| Stocks | 30/36 | €93,130 | €104,244 | +€11,114 | +11.9% |
| Amounts receivable within one year | 40/41 | €6,335 | €8,341 | +€2,006 | +31.7% |
| Trade receivables | 40 | €3,470 | €7,062 | +€3,592 | +103.5% |
| Other amounts receivable | 41 | €2,865 | €1,280 | -€1,586 | -55.3% |
| Cash at bank and in hand | 54/58 | €6,395 | €1,351 | -€5,044 | -78.9% |
| Deferred charges and accrued income | 490/1 | €201 | €184 | -€17 | -8.5% |
| Total equity and liabilities | 10/49 | €106,861 | €114,921 | +€8,060 | +7.5% |
| Equity | 10/15 | €36,799 | €37,388 | +€588 | +1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,199 | €18,788 | +€588 | +3.2% |
| Distributable reserves | 133 | €18,199 | €18,788 | +€588 | +3.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,061 | €77,533 | +€7,472 | +10.7% |
| Amounts payable within one year | 42/48 | €66,391 | €74,325 | +€7,933 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €5,908 | +€5,908 | |
| Credit institutions | 430/8 | - | €5,908 | +€5,908 | |
| Trade debts | 44 | €1,407 | €6,270 | +€4,863 | +345.7% |
| Suppliers | 440/4 | €1,407 | €6,270 | +€4,863 | +345.7% |
| Taxes, remuneration and social security | 45 | €9,052 | €10,085 | +€1,033 | +11.4% |
| Taxes | 450/3 | €9,052 | €10,085 | +€1,033 | +11.4% |
| Other amounts payable | 47/48 | €55,933 | €52,061 | -€3,872 | -6.9% |
| Accrued charges and deferred income | 492/3 | €3,670 | €3,208 | -€462 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,333 | €0 | -€1,333 | -100.0% |
| Other operating charges | 640/8 | €954 | €971 | +€18 | +1.9% |
| Gross operating margin | 9900 | €8,611 | €17,192 | +€8,581 | +99.7% |
| Operating profit (loss) | 9901 | €6,324 | €16,220 | +€9,897 | +156.5% |
| Financial income | 75/76B | €19 | €252 | +€233 | +1215.9% |
| Recurring financial income | 75 | €19 | €252 | +€233 | +1215.9% |
| Financial charges | 65/66B | €5,116 | €4,689 | -€427 | -8.4% |
| Recurring financial charges | 65 | €5,116 | €4,689 | -€427 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €1,227 | €11,783 | +€10,556 | +860.7% |
| Income taxes | 67/77 | €720 | €4,294 | +€3,573 | +496.1% |
| Profit (loss) for the period | 9904 | €506 | €7,489 | +€6,983 | +1379.5% |
| Profit (loss) for the period to be appropriated | 9905 | €506 | €7,489 | +€6,983 | +1379.5% |
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 10 October 2026 via checked.be.