GRATIAGO: 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.
GRATIAGO
Largest movements
- Cash +€22,757
up €22,757 (+32.7%), from €69,623 to €92,380
mainly Other debts (+€112,520) and Depreciation (+€36,180)
- Receivables within one year +€16,487
up €16,487 (+177%), from €9,317 to €25,804
of which Other amounts receivable: +€13,462
- Intangible fixed assets -€10,844
down €10,844 (-18.1%), from €59,942 to €49,098
- Tangible fixed assets +€1,804
up €1,804 (+185%), from €976 to €2,780
- Other debts +€112,520
up €112,520 (+8,635%), from €1,303 to €113,823
- Profit (loss) carried forward -€81,866
down €81,866 (-60.6%), from -€135,135 to -€217,001
- Gross operating margin +€56,405
up €56,405 (+55.5%), from -€101,578 to -€45,173
- Depreciation +€14,450
up €14,450 (+66.5%), from €21,730 to €36,180
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 | €142,699 | €172,628 | +€29,929 | +21.0% |
| Fixed assets | 21/28 | €60,958 | €51,918 | -€9,040 | -14.8% |
| Intangible fixed assets | 21 | €59,942 | €49,098 | -€10,844 | -18.1% |
| Tangible fixed assets | 22/27 | €976 | €2,780 | +€1,804 | +185% |
| Plant, machinery and equipment | 23 | €976 | €2,780 | +€1,804 | +185% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €81,741 | €120,710 | +€38,969 | +47.7% |
| Amounts receivable within one year | 40/41 | €9,317 | €25,804 | +€16,487 | +177% |
| Trade receivables | 40 | - | €3,025 | +€3,025 | |
| Other amounts receivable | 41 | €9,317 | €22,779 | +€13,462 | +144% |
| Cash at bank and in hand | 54/58 | €69,623 | €92,380 | +€22,757 | +32.7% |
| Deferred charges and accrued income | 490/1 | €2,801 | €2,526 | -€275 | -9.8% |
| Total equity and liabilities | 10/49 | €142,699 | €172,628 | +€29,929 | +21.0% |
| Equity | 10/15 | €131,463 | €49,597 | -€81,866 | -62.3% |
| Contributions | 10/11 | €266,598 | €266,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€135,135 | -€217,001 | -€81,866 | -60.6% |
| Amounts payable | 17/49 | €11,236 | €123,031 | +€111,795 | +995% |
| Amounts payable within one year | 42/48 | €11,236 | €123,031 | +€111,795 | +995% |
| Trade debts | 44 | €9,933 | €9,208 | -€725 | -7.3% |
| Suppliers | 440/4 | €9,933 | €9,208 | -€725 | -7.3% |
| Other amounts payable | 47/48 | €1,303 | €113,823 | +€112,520 | +8,635% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,730 | €36,180 | +€14,450 | +66.5% |
| Other operating charges | 640/8 | €63 | €63 | = | 0.0% |
| Gross operating margin | 9900 | -€101,578 | -€45,173 | +€56,405 | +55.5% |
| Operating profit (loss) | 9901 | -€123,371 | -€81,416 | +€41,955 | +34.0% |
| Financial income | 75/76B | €136 | €13 | -€123 | -90.4% |
| Recurring financial income | 75 | €136 | €13 | -€123 | -90.4% |
| Financial charges | 65/66B | €147 | €463 | +€316 | +215% |
| Recurring financial charges | 65 | €147 | €463 | +€316 | +215% |
| Profit (loss) for the period before taxes | 9903 | -€123,382 | -€81,866 | +€41,516 | +33.6% |
| Profit (loss) for the period | 9904 | -€123,382 | -€81,866 | +€41,516 | +33.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€123,382 | -€81,866 | +€41,516 | +33.6% |
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 30 October 2026 via checked.be.