GRARD-ALAIMO: 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.
GRARD-ALAIMO
Largest movements
- Receivables within one year -€56,624
down €56,624 (-84.9%), from €66,677 to €10,053
of which Trade receivables: -€53,963
- Tangible fixed assets -€13,190
down €13,190 (-3.1%), from €421,169 to €407,979
of which Land and buildings: -€11,858
- Debts after one year -€72,022
down €72,022 (-17.1%), from €421,569 to €349,548
- Profit (loss) carried forward +€6,284
up €6,284 (+34.4%), from -€18,263 to -€11,979
- Gross operating margin -€40,572
down €40,572 (-24.3%), from €167,204 to €126,632
- Staff costs -€14,761
down €14,761 (-12.9%), from €114,350 to €99,589
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 | €488,561 | €421,674 | -€66,886 | -13.7% |
| Fixed assets | 21/28 | €421,460 | €408,270 | -€13,190 | -3.1% |
| Tangible fixed assets | 22/27 | €421,169 | €407,979 | -€13,190 | -3.1% |
| Land and buildings | 22 | €407,002 | €395,145 | -€11,858 | -2.9% |
| Furniture and vehicles | 24 | €1,461 | €1,592 | +€131 | +9.0% |
| Other tangible fixed assets | 26 | €12,707 | €11,243 | -€1,464 | -11.5% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €67,101 | €13,405 | -€53,696 | -80.0% |
| Amounts receivable within one year | 40/41 | €66,677 | €10,053 | -€56,624 | -84.9% |
| Trade receivables | 40 | €59,524 | €5,561 | -€53,963 | -90.7% |
| Other amounts receivable | 41 | €7,152 | €4,491 | -€2,661 | -37.2% |
| Cash at bank and in hand | 54/58 | €0 | €1,005 | +€1,005 | |
| Deferred charges and accrued income | 490/1 | €424 | €2,346 | +€1,922 | +453% |
| Total equity and liabilities | 10/49 | €488,561 | €421,674 | -€66,886 | -13.7% |
| Equity | 10/15 | €31,737 | €38,021 | +€6,284 | +19.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,263 | -€11,979 | +€6,284 | +34.4% |
| Amounts payable | 17/49 | €456,824 | €383,653 | -€73,171 | -16.0% |
| Amounts payable after more than one year | 17 | €421,569 | €349,548 | -€72,022 | -17.1% |
| Financial debts | 170/4 | €421,569 | €349,548 | -€72,022 | -17.1% |
| Amounts payable within one year | 42/48 | €35,255 | €34,106 | -€1,149 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €17,734 | €17,736 | +€2 | 0.0% |
| Trade debts | 44 | €3,814 | €4,519 | +€705 | +18.5% |
| Suppliers | 440/4 | €3,814 | €4,519 | +€705 | +18.5% |
| Taxes, remuneration and social security | 45 | €13,707 | €11,851 | -€1,856 | -13.5% |
| Taxes | 450/3 | €82 | €0 | -€82 | -100% |
| Remuneration and social security | 454/9 | €13,625 | €11,851 | -€1,774 | -13.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €114,350 | €99,589 | -€14,761 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,561 | €14,497 | -€1,064 | -6.8% |
| Other operating charges | 640/8 | €2,505 | €3,184 | +€679 | +27.1% |
| Gross operating margin | 9900 | €167,204 | €126,632 | -€40,572 | -24.3% |
| Operating profit (loss) | 9901 | €34,787 | €9,362 | -€25,426 | -73.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,316 | €3,078 | -€238 | -7.2% |
| Recurring financial charges | 65 | €3,316 | €3,078 | -€238 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €31,472 | €6,284 | -€25,187 | -80.0% |
| Profit (loss) for the period | 9904 | €31,472 | €6,284 | -€25,187 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,472 | €6,284 | -€25,187 | -80.0% |
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 19 October 2026 via checked.be.