GRASCO: 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.
GRASCO
Largest movements
- Tangible fixed assets -€6,672
down €6,672 (-11.6%), from €57,609 to €50,937
- Reserves -€10,696
down €10,696 (-49.8%), from €21,498 to €10,803
of which Distributable reserves: -€6,855
- Other debts +€3,600
up €3,600 (+10.7%), from €33,635 to €37,235
- Profit (loss) carried forward +€2,687
up €2,687 (+11.7%), from -€22,960 to -€20,273
- Provisions -€1,978
down €1,978 (-28.6%), from €6,922 to €4,945
- Purchases and services -€3,240
no longer reported in 2025 (was €3,240)
- Turnover -€1,600
no longer reported in 2025 (was €1,600)
- Gross operating margin +€1,140
up €1,140 (+69.5%), from -€1,640 to -€500
- Other operating charges -€23
down €23 (-0.8%), from €2,793 to €2,771
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 | €57,687 | €51,400 | -€6,287 | -10.9% |
| Fixed assets | 21/28 | €57,609 | €50,937 | -€6,672 | -11.6% |
| Tangible fixed assets | 22/27 | €57,609 | €50,937 | -€6,672 | -11.6% |
| Other tangible fixed assets | 26 | €57,609 | €50,937 | -€6,672 | -11.6% |
| Current assets | 29/58 | €78 | €463 | +€385 | +491.4% |
| Cash at bank and in hand | 54/58 | €78 | €463 | +€385 | +491.4% |
| Total equity and liabilities | 10/49 | €57,687 | €51,400 | -€6,287 | -10.9% |
| Equity | 10/15 | €17,130 | €9,121 | -€8,009 | -46.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €21,498 | €10,803 | -€10,696 | -49.8% |
| Non-distributable reserves | 130/1 | €1,200 | €1,200 | = | 0.0% |
| Legal reserve | 130 | €1,200 | - | -€1,200 | |
| Other | 1319 | - | €1,200 | +€1,200 | |
| Tax-exempt reserves | 132 | €13,444 | €9,603 | -€3,841 | -28.6% |
| Distributable reserves | 133 | €6,855 | - | -€6,855 | |
| Profit (loss) carried forward | 14 | -€22,960 | -€20,273 | +€2,687 | +11.7% |
| Provisions and deferred taxes | 16 | €6,922 | €4,945 | -€1,978 | -28.6% |
| Deferred taxes | 168 | €6,922 | €4,945 | -€1,978 | -28.6% |
| Amounts payable | 17/49 | €33,635 | €37,335 | +€3,700 | +11.0% |
| Amounts payable within one year | 42/48 | €33,635 | €37,235 | +€3,600 | +10.7% |
| Other amounts payable | 47/48 | €33,635 | €37,235 | +€3,600 | +10.7% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Turnover | 70 | €1,600 | - | -€1,600 | |
| Goods, raw materials, services and sundry goods | 60/61 | €3,240 | - | -€3,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,672 | €6,672 | = | 0.0% |
| Other operating charges | 640/8 | €2,793 | €2,771 | -€23 | -0.8% |
| Gross operating margin | 9900 | -€1,640 | -€500 | +€1,140 | +69.5% |
| Operating profit (loss) | 9901 | -€11,104 | -€9,942 | +€1,162 | +10.5% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,149 | -€9,987 | +€1,162 | +10.4% |
| Transfer from deferred taxes | 780 | €1,978 | €1,978 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€9,172 | -€8,009 | +€1,162 | +12.7% |
| Transfer from tax-exempt reserves | 789 | €3,841 | €3,841 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,331 | -€4,168 | +€1,162 | +21.8% |
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 4 October 2026 via checked.be.