GRAVA FRERES: 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.
What changed
GRAVA FRERES
NACE 43.410, Roofing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6,783
2024 · €13,583-€6,800
Equity
€391,791
2024 · €385,008+€6,783
Cash
€193,482
2024 · €222,901-€29,419
Balance sheet total
€686,886
2024 · €679,140+€7,746
Largest movements
Assets
- Receivables within one year +€69,594
up €69,594 (+145%), from €47,985 to €117,579
of which Trade receivables: +€73,758
- Tangible fixed assets -€38,672
down €38,672 (-12.1%), from €320,572 to €281,899
- Cash -€29,419
down €29,419 (-13.2%), from €222,901 to €193,482
mainly Receivables within one year (-€69,594) and Debts after one year (-€23,139)
- Deferred charges and accrued income +€13,497
up €13,497 (+57.9%), from €23,303 to €36,800
Equity and liabilities
- Trade debts +€40,571
up €40,571 (+34.5%), from €117,669 to €158,240
- Debts after one year -€23,139
down €23,139 (-25.2%), from €91,997 to €68,858
of which Financial debts: -€23,139
- Current portion of long-term debt -€10,784
down €10,784 (-31.8%), from €33,923 to €23,139
Income statement
- Staff costs +€57,731
up €57,731 (+19.5%), from €295,885 to €353,616
- Gross operating margin +€47,925
up €47,925 (+12.2%), from €394,394 to €442,319
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.
Result 2024
€13,583
Gross operating margin
+€47,925
Staff costs
-€57,731
Depreciation
+€2,652
Write-downs
-€2,073
Other operating charges
+€3,557
Financial income
-€51
Financial charges
+€1,340
Taxes
-€1,659
Deferred taxes and other
-€761
Result 2025
€6,783
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7,849
Investment
-€3,369
Financing
-€33,899
Cash 2024
€222,901
From operations (derived)
+€7,849
Net result for the year
+€6,783
Depreciation
+€47,042
Receivables after one year
+€997
Stocks and contracts
+€1,257
Receivables within one year
-€69,594
Deferred charges and accrued income
-€13,497
Provisions
-€6,644
Trade debts
+€40,571
Tax, wage and social debts
-€6,224
Other debts
+€3,117
Accrued charges and deferred income
+€4,042
Investment (derived)
-€3,369
Investment in fixed assets (net)
-€3,369
Financing
-€33,899
Debts after one year
-€23,139
Current portion of long-term debt
-€10,784
Short-term financial debts
+€24
Cash 2025
€193,482
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €679,140 | €686,886 | +€7,746 | +1.1% |
| Fixed assets | 21/28 | €330,852 | €287,179 | -€43,672 | -13.2% |
| Intangible fixed assets | 21 | €10,000 | €5,000 | -€5,000 | -50.0% |
| Tangible fixed assets | 22/27 | €320,572 | €281,899 | -€38,672 | -12.1% |
| Land and buildings | 22 | €267,933 | €249,637 | -€18,297 | -6.8% |
| Plant, machinery and equipment | 23 | €14,293 | €7,917 | -€6,376 | -44.6% |
| Furniture and vehicles | 24 | €15,447 | €12,373 | -€3,075 | -19.9% |
| Leasing and similar rights | 25 | €22,898 | €11,974 | -€10,925 | -47.7% |
| Financial fixed assets | 28 | €280 | €280 | = | 0.0% |
| Current assets | 29/58 | €348,289 | €399,706 | +€51,418 | +14.8% |
| Amounts receivable after more than one year | 29 | €47,193 | €46,196 | -€997 | -2.1% |
| Other amounts receivable | 291 | €47,193 | €46,196 | -€997 | -2.1% |
| Stocks and contracts in progress | 3 | €6,907 | €5,650 | -€1,257 | -18.2% |
| Stocks | 30/36 | €6,907 | €5,650 | -€1,257 | -18.2% |
| Amounts receivable within one year | 40/41 | €47,985 | €117,579 | +€69,594 | +145% |
| Trade receivables | 40 | €10,216 | €83,974 | +€73,758 | +722% |
| Other amounts receivable | 41 | €37,769 | €33,605 | -€4,164 | -11.0% |
| Cash at bank and in hand | 54/58 | €222,901 | €193,482 | -€29,419 | -13.2% |
| Deferred charges and accrued income | 490/1 | €23,303 | €36,800 | +€13,497 | +57.9% |
| Total equity and liabilities | 10/49 | €679,140 | €686,886 | +€7,746 | +1.1% |
| Equity | 10/15 | €385,008 | €391,791 | +€6,783 | +1.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €378,808 | €385,591 | +€6,783 | +1.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €92,077 | €71,068 | -€21,009 | -22.8% |
| Distributable reserves | 133 | €284,871 | €312,663 | +€27,792 | +9.8% |
| Provisions and deferred taxes | 16 | €29,939 | €23,296 | -€6,644 | -22.2% |
| Deferred taxes | 168 | €29,939 | €23,296 | -€6,644 | -22.2% |
| Amounts payable | 17/49 | €264,193 | €271,800 | +€7,607 | +2.9% |
| Amounts payable after more than one year | 17 | €91,997 | €68,858 | -€23,139 | -25.2% |
| Financial debts | 170/4 | €87,399 | €64,260 | -€23,139 | -26.5% |
| Other amounts payable | 178/9 | €4,598 | €4,598 | = | 0.0% |
| Amounts payable within one year | 42/48 | €172,181 | €198,885 | +€26,704 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €33,923 | €23,139 | -€10,784 | -31.8% |
| Financial debts | 43 | €6,089 | €6,113 | +€24 | +0.4% |
| Credit institutions | 430/8 | €6,089 | €6,113 | +€24 | +0.4% |
| Trade debts | 44 | €117,669 | €158,240 | +€40,571 | +34.5% |
| Suppliers | 440/4 | €117,669 | €158,240 | +€40,571 | +34.5% |
| Taxes, remuneration and social security | 45 | €12,911 | €6,687 | -€6,224 | -48.2% |
| Taxes | 450/3 | €285 | €758 | +€473 | +166% |
| Remuneration and social security | 454/9 | €12,626 | €5,929 | -€6,697 | -53.0% |
| Other amounts payable | 47/48 | €1,588 | €4,705 | +€3,117 | +196% |
| Accrued charges and deferred income | 492/3 | €15 | €4,057 | +€4,042 | +26,571% |
| Remuneration, social security and pensions | 62 | €295,885 | €353,616 | +€57,731 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,694 | €47,042 | -€2,652 | -5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,073 | - | +€2,073 | |
| Other operating charges | 640/8 | €16,705 | €13,147 | -€3,557 | -21.3% |
| Gross operating margin | 9900 | €394,394 | €442,319 | +€47,925 | +12.2% |
| Operating profit (loss) | 9901 | €34,183 | €28,515 | -€5,668 | -16.6% |
| Financial income | 75/76B | €51 | - | -€51 | |
| Recurring financial income | 75 | €51 | - | -€51 | |
| Financial charges | 65/66B | €11,723 | €10,383 | -€1,340 | -11.4% |
| Recurring financial charges | 65 | €11,723 | €10,383 | -€1,340 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €22,511 | €18,132 | -€4,379 | -19.5% |
| Transfer from deferred taxes | 780 | €7,405 | €6,644 | -€761 | -10.3% |
| Income taxes | 67/77 | €16,333 | €17,992 | +€1,659 | +10.2% |
| Profit (loss) for the period | 9904 | €13,583 | €6,783 | -€6,800 | -50.1% |
| Transfer from tax-exempt reserves | 789 | €23,293 | €21,009 | -€2,284 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,876 | €27,792 | -€9,084 | -24.6% |
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 29 October 2026 via checked.be.