GRAVEJAN GRO: 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
GRAVEJAN GRO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€10.2m
2024 · -€4,523+€10.2m
Equity
€2.3m
2024 · €2.0m+€232,251
Cash
€510,259
2024 · €90,616+€419,643
Balance sheet total
€16.1m
2024 · €16.3m-€152,140
Largest movements
Assets
- Stocks and contracts -€14.6m
down €14.6m (-90.5%), from €16.2m to €1.5m
- Receivables within one year +€14.0m
new in 2025: €14.0m
of which Other amounts receivable: +€14.0m
- Cash +€419,643
up €419,643 (+463%), from €90,616 to €510,259
mainly Stocks and contracts (+€14.6m) and Net result for the year (+€10.2m)
Equity and liabilities
- Debts after one year -€10.0m
down €10.0m (-100%), from €10.0m to €0
of which Financial debts: -€10.0m
- Other debts +€6.0m
up €6.0m (+150%), from €4.0m to €10.0m
- Short-term financial debts +€3.5m
new in 2025: €3.5m
- Trade debts +€259,030
up €259,030 (+235%), from €110,016 to €369,046
- Reserves +€205,680
new in 2025: €205,680
Income statement
- Turnover +€29.8m
new in 2025: €29.8m
- Taxes +€3.5m
new in 2025: €3.5m
- Goods and materials +€571,134
up €571,134 (+321%), from €177,926 to €749,061
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
-€4,523
Turnover
+€29.8m
Goods and materials
-€571,134
Services and other goods
-€178,669
Other operating charges
-€214
Other operating items
-€15.3m
Financial income
+€30,915
Financial charges
+€14,148
Taxes
-€3.5m
Result 2025
€10.2m
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
+€16.9m
Investment
€0
Financing
-€16.5m
Cash 2024
€90,616
From operations (derived)
+€16.9m
Net result for the year
+€10.2m
Stocks and contracts
+€14.6m
Receivables within one year
-€14.0m
Deferred charges and accrued income
-€40,206
Trade debts
+€259,030
Other debts
+€6.0m
Accrued charges and deferred income
-€125,958
Financing
-€16.5m
Debts after one year
-€10.0m
Short-term financial debts
+€3.5m
Contributions, distributions and other
-€10.0m
Cash 2025
€510,259
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,280,428 | €16,128,288 | -€152,140 | -0.9% |
| Current assets | 29/58 | €16,280,428 | €16,128,288 | -€152,140 | -0.9% |
| Stocks and contracts in progress | 3 | €16,181,822 | €1,537,410 | -€14.6m | -90.5% |
| Stocks | 30/36 | €16,181,822 | €1,537,410 | -€14.6m | -90.5% |
| Property held for sale | 35 | €16,181,822 | €1,537,410 | -€14.6m | -90.5% |
| Amounts receivable within one year | 40/41 | - | €14,032,424 | +€14.0m | |
| Trade receivables | 40 | - | €1,523 | +€1,523 | |
| Other amounts receivable | 41 | - | €14,030,901 | +€14.0m | |
| Cash at bank and in hand | 54/58 | €90,616 | €510,259 | +€419,643 | +463% |
| Deferred charges and accrued income | 490/1 | €7,990 | €48,195 | +€40,206 | +503% |
| Total equity and liabilities | 10/49 | €16,280,428 | €16,128,288 | -€152,140 | -0.9% |
| Equity | 10/15 | €2,036,991 | €2,269,242 | +€232,251 | +11.4% |
| Contributions | 10/11 | €2,056,800 | €2,056,800 | = | 0.0% |
| Capital | 10 | €2,056,800 | €2,056,800 | = | 0.0% |
| Issued capital | 100 | €2,056,800 | €2,056,800 | = | 0.0% |
| Reserves | 13 | - | €205,680 | +€205,680 | |
| Non-distributable reserves | 130/1 | - | €205,680 | +€205,680 | |
| Legal reserve | 130 | - | €205,680 | +€205,680 | |
| Profit (loss) carried forward | 14 | -€19,809 | €6,762 | +€26,571 | |
| Amounts payable | 17/49 | €14,243,437 | €13,859,046 | -€384,391 | -2.7% |
| Amounts payable after more than one year | 17 | €10,007,463 | €0 | -€10.0m | -100% |
| Financial debts | 170/4 | €10,007,463 | €0 | -€10.0m | -100% |
| Credit institutions | 173 | €7,438,000 | €0 | -€7.4m | -100% |
| Other loans | 174 | €2,569,463 | €0 | -€2.6m | -100% |
| Trade debts | 175 | €0 | - | = | |
| Suppliers | 1750 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €4,110,016 | €13,859,046 | +€9.7m | +237% |
| Financial debts | 43 | - | €3,500,000 | +€3.5m | |
| Credit institutions | 430/8 | - | €3,500,000 | +€3.5m | |
| Trade debts | 44 | €110,016 | €369,046 | +€259,030 | +235% |
| Suppliers | 440/4 | €110,016 | €369,046 | +€259,030 | +235% |
| Other amounts payable | 47/48 | €4,000,000 | €9,990,000 | +€6.0m | +150% |
| Accrued charges and deferred income | 492/3 | €125,958 | €0 | -€125,958 | -100% |
| Operating income | 70/76A | €216,026 | €14,646,854 | +€14.4m | +6,680% |
| Turnover | 70 | - | €29,762,917 | +€29.8m | |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €216,026 | -€15,116,063 | -€15.3m | |
| Operating charges | 60/66A | €181,745 | €931,763 | +€750,018 | +413% |
| Goods for resale, raw materials and consumables | 60 | €177,926 | €749,061 | +€571,134 | +321% |
| Purchases | 600/8 | €177,926 | €749,061 | +€571,134 | +321% |
| Services and other goods | 61 | €2,382 | €181,051 | +€178,669 | +7,502% |
| Other operating charges | 640/8 | €1,436 | €1,651 | +€214 | +14.9% |
| Operating profit (loss) | 9901 | €34,282 | €13,715,092 | +€13.7m | +39,907% |
| Financial income | 75/76B | €1 | €30,916 | +€30,915 | +2,619,892% |
| Recurring financial income | 75 | €1 | €30,916 | +€30,915 | +2,619,892% |
| Income from current assets | 751 | - | €30,916 | +€30,916 | |
| Other financial income | 752/9 | €1 | €0 | -€1 | -94.1% |
| Financial charges | 65/66B | €38,806 | €24,658 | -€14,148 | -36.5% |
| Recurring financial charges | 65 | €38,806 | €24,658 | -€14,148 | -36.5% |
| Debt charges | 650 | €38,108 | €23,000 | -€15,108 | -39.6% |
| Other financial charges | 652/9 | €698 | €1,658 | +€960 | +138% |
| Profit (loss) for the period before taxes | 9903 | -€4,523 | €13,721,350 | +€13.7m | |
| Income taxes | 67/77 | - | €3,499,099 | +€3.5m | |
| Taxes | 670/3 | - | €3,499,099 | +€3.5m | |
| Profit (loss) for the period | 9904 | -€4,523 | €10,222,251 | +€10.2m | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,523 | €10,222,251 | +€10.2m |
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.