GRAVE RAED: 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.
GRAVE RAED
Largest movements
- Financial fixed assets +€200,000
up €200,000 (+81.0%), from €247,000 to €447,000
- Cash -€33,924
down €33,924 (-87.2%), from €38,915 to €4,991
mainly Investment in fixed assets (net) (-€202,942) and Debts after one year (-€41,356)
- Receivables within one year +€17,433
up €17,433 (+35.0%), from €49,823 to €67,255
of which Trade receivables: +€17,433
- Profit (loss) carried forward +€213,705
up €213,705 (+207%), from €103,012 to €316,717
- Debts after one year -€41,356
down €41,356 (-65.2%), from €63,405 to €22,049
- Other debts +€9,003
up €9,003 (+6.8%), from €132,718 to €141,721
- Financial income +€199,992
up €199,992 (+2,421,211%), from €8 to €200,000
- Gross operating margin -€35,286
down €35,286 (-60.6%), from €58,225 to €22,939
- Taxes -€8,325
down €8,325 (-54.9%), from €15,155 to €6,830
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 | €335,738 | €521,894 | +€186,156 | +55.4% |
| Fixed assets | 21/28 | €247,000 | €449,648 | +€202,648 | +82.0% |
| Intangible fixed assets | 21 | - | €1,187 | +€1,187 | |
| Tangible fixed assets | 22/27 | - | €1,461 | +€1,461 | |
| Furniture and vehicles | 24 | - | €1,461 | +€1,461 | |
| Financial fixed assets | 28 | €247,000 | €447,000 | +€200,000 | +81.0% |
| Current assets | 29/58 | €88,738 | €72,246 | -€16,492 | -18.6% |
| Amounts receivable within one year | 40/41 | €49,823 | €67,255 | +€17,433 | +35.0% |
| Trade receivables | 40 | €14,823 | €32,255 | +€17,433 | +118% |
| Other amounts receivable | 41 | €35,000 | €35,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,915 | €4,991 | -€33,924 | -87.2% |
| Total equity and liabilities | 10/49 | €335,738 | €521,894 | +€186,156 | +55.4% |
| Equity | 10/15 | €108,012 | €321,717 | +€213,705 | +198% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,012 | €316,717 | +€213,705 | +207% |
| Amounts payable | 17/49 | €227,725 | €200,177 | -€27,549 | -12.1% |
| Amounts payable after more than one year | 17 | €63,405 | €22,049 | -€41,356 | -65.2% |
| Financial debts | 170/4 | €63,405 | €22,049 | -€41,356 | -65.2% |
| Amounts payable within one year | 42/48 | €164,320 | €178,127 | +€13,807 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €12,181 | €15,059 | +€2,878 | +23.6% |
| Trade debts | 44 | €1,875 | €1,812 | -€63 | -3.3% |
| Suppliers | 440/4 | €1,875 | €1,812 | -€63 | -3.3% |
| Taxes, remuneration and social security | 45 | €17,545 | €19,534 | +€1,989 | +11.3% |
| Taxes | 450/3 | €17,545 | €19,534 | +€1,989 | +11.3% |
| Other amounts payable | 47/48 | €132,718 | €141,721 | +€9,003 | +6.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €294 | +€294 | |
| Other operating charges | 640/8 | €1,229 | €983 | -€247 | -20.1% |
| Gross operating margin | 9900 | €58,225 | €22,939 | -€35,286 | -60.6% |
| Operating profit (loss) | 9901 | €56,995 | €21,662 | -€35,333 | -62.0% |
| Financial income | 75/76B | €8 | €200,000 | +€199,992 | +2,421,211% |
| Recurring financial income | 75 | €8 | €200,000 | +€199,992 | +2,421,211% |
| Financial charges | 65/66B | €1,163 | €1,127 | -€35 | -3.0% |
| Recurring financial charges | 65 | €1,163 | €1,127 | -€35 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €55,841 | €220,535 | +€164,695 | +295% |
| Income taxes | 67/77 | €15,155 | €6,830 | -€8,325 | -54.9% |
| Profit (loss) for the period | 9904 | €40,686 | €213,705 | +€173,019 | +425% |
| Profit (loss) for the period to be appropriated | 9905 | €40,686 | €213,705 | +€173,019 | +425% |
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 27 October 2026 via checked.be.