GRATEFUL: 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.
GRATEFUL
Largest movements
- Cash -€19,839
down €19,839 (-89.0%), from €22,295 to €2,456
mainly Net result for the year (-€15,835) and Trade debts (-€4,734)
- Receivables within one year +€982
up €982 (+8.2%), from €11,965 to €12,947
of which Other amounts receivable: +€11,082
- Profit (loss) carried forward -€15,835
down €15,835, from €6,328 to -€9,507
- Trade debts -€4,734
down €4,734 (-29.2%), from €16,219 to €11,485
- Advances received +€4,200
new in 2025: €4,200
- Other debts -€1,958
no longer reported in 2025 (was €1,958)
- Tax, wage and social debts -€750
down €750 (-30.4%), from €2,465 to €1,715
- Gross operating margin -€64,824
down €64,824, from €49,805 to -€15,019
- Taxes -€2,546
no longer reported in 2025 (was €2,546)
- Other operating charges -€855
down €855 (-67.2%), from €1,273 to €418
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 | €40,099 | €21,022 | -€19,077 | -47.6% |
| Fixed assets | 21/28 | €5,769 | €5,546 | -€223 | -3.9% |
| Tangible fixed assets | 22/27 | €3,969 | €3,746 | -€223 | -5.6% |
| Plant, machinery and equipment | 23 | €3,567 | €3,567 | = | 0.0% |
| Furniture and vehicles | 24 | €401 | €179 | -€223 | -55.5% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €34,331 | €15,477 | -€18,854 | -54.9% |
| Amounts receivable within one year | 40/41 | €11,965 | €12,947 | +€982 | +8.2% |
| Trade receivables | 40 | €10,406 | €306 | -€10,100 | -97.1% |
| Other amounts receivable | 41 | €1,559 | €12,641 | +€11,082 | +711% |
| Cash at bank and in hand | 54/58 | €22,295 | €2,456 | -€19,839 | -89.0% |
| Deferred charges and accrued income | 490/1 | €71 | €74 | +€2 | +3.4% |
| Total equity and liabilities | 10/49 | €40,099 | €21,022 | -€19,077 | -47.6% |
| Equity | 10/15 | €19,458 | €3,623 | -€15,835 | -81.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €729 | €729 | = | 0.0% |
| Non-distributable reserves | 130/1 | €729 | €729 | = | 0.0% |
| Legal reserve | 130 | €729 | - | -€729 | |
| Other | 1319 | - | €729 | +€729 | |
| Profit (loss) carried forward | 14 | €6,328 | -€9,507 | -€15,835 | |
| Amounts payable | 17/49 | €20,642 | €17,400 | -€3,242 | -15.7% |
| Amounts payable within one year | 42/48 | €20,642 | €17,400 | -€3,242 | -15.7% |
| Trade debts | 44 | €16,219 | €11,485 | -€4,734 | -29.2% |
| Suppliers | 440/4 | €16,219 | €11,485 | -€4,734 | -29.2% |
| Advances received on contracts in progress | 46 | - | €4,200 | +€4,200 | |
| Taxes, remuneration and social security | 45 | €2,465 | €1,715 | -€750 | -30.4% |
| Taxes | 450/3 | €2,465 | €1,715 | -€750 | -30.4% |
| Other amounts payable | 47/48 | €1,958 | - | -€1,958 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €334 | €223 | -€112 | -33.4% |
| Other operating charges | 640/8 | €1,273 | €418 | -€855 | -67.2% |
| Gross operating margin | 9900 | €49,805 | -€15,019 | -€64,824 | |
| Operating profit (loss) | 9901 | €48,197 | -€15,659 | -€63,857 | |
| Financial charges | 65/66B | €133 | €175 | +€42 | +31.5% |
| Recurring financial charges | 65 | €133 | €175 | +€42 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €48,064 | -€15,835 | -€63,899 | |
| Income taxes | 67/77 | €2,546 | - | -€2,546 | |
| Profit (loss) for the period | 9904 | €45,518 | -€15,835 | -€61,353 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,518 | -€15,835 | -€61,353 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.