GRAVIC: what changed
Two fiscal 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.
GRAVIC
Largest movements
- Stocks and contracts -€9,475
down €9,475 (-12.5%), from €75,647 to €66,172
- Cash -€1,752
down €1,752 (-32.0%), from €5,473 to €3,721
mainly Trade debts (-€9,786) and Other debts (-€8,122)
- Intangible fixed assets +€1,642
new in 2025: €1,642
- Receivables within one year +€1,078
up €1,078 (+10.9%), from €9,865 to €10,942
of which Trade receivables: +€10,038
- Trade debts -€9,786
down €9,786 (-80.3%), from €12,188 to €2,401
- Profit (loss) carried forward +€9,400
up €9,400 (+38.3%), from -€24,555 to -€15,154
- Other debts -€8,122
down €8,122 (-23.1%), from €35,152 to €27,030
- Gross operating margin +€7,738
up €7,738 (+145.7%), from €5,311 to €13,048
- Purchases and services -€5,622
down €5,622 (-32.7%), from €17,216 to €11,594
- Depreciation +€1,494
new in 2025: €1,494
- Financial charges -€1,429
down €1,429 (-39.9%), from €3,583 to €2,154
of which Financial charges: -€1,669
- Staff costs -€380
no longer reported in 2025 (was €380)
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.
Cash bridge derived
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 | €90,985 | €82,477 | -€8,508 | -9.4% |
| Fixed assets | 21/28 | - | €1,642 | +€1,642 | |
| Intangible fixed assets | 21 | - | €1,642 | +€1,642 | |
| Current assets | 29/58 | €90,985 | €80,835 | -€10,150 | -11.2% |
| Stocks and contracts in progress | 3 | €75,647 | €66,172 | -€9,475 | -12.5% |
| Stocks | 30/36 | €75,647 | €66,172 | -€9,475 | -12.5% |
| Amounts receivable within one year | 40/41 | €9,865 | €10,942 | +€1,078 | +10.9% |
| Trade receivables | 40 | €905 | €10,942 | +€10,038 | +1109.4% |
| Other amounts receivable | 41 | €8,960 | - | -€8,960 | |
| Cash at bank and in hand | 54/58 | €5,473 | €3,721 | -€1,752 | -32.0% |
| Total equity and liabilities | 10/49 | €90,985 | €82,477 | -€8,508 | -9.4% |
| Equity | 10/15 | €43,645 | €53,046 | +€9,400 | +21.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,555 | -€15,154 | +€9,400 | +38.3% |
| Amounts payable | 17/49 | €47,340 | €29,431 | -€17,909 | -37.8% |
| Amounts payable within one year | 42/48 | €47,340 | €29,431 | -€17,909 | -37.8% |
| Trade debts | 44 | €12,188 | €2,401 | -€9,786 | -80.3% |
| Suppliers | 440/4 | €12,188 | €2,401 | -€9,786 | -80.3% |
| Other amounts payable | 47/48 | €35,152 | €27,030 | -€8,122 | -23.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €17,216 | €11,594 | -€5,622 | -32.7% |
| Remuneration, social security and pensions | 62 | €380 | - | -€380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,494 | +€1,494 | |
| Gross operating margin | 9900 | €5,311 | €13,048 | +€7,738 | +145.7% |
| Operating profit (loss) | 9901 | €4,931 | €11,555 | +€6,624 | +134.3% |
| Financial charges | 65/66B | €3,583 | €2,154 | -€1,429 | -39.9% |
| Recurring financial charges | 65 | €3,583 | €1,914 | -€1,669 | -46.6% |
| Non-recurring financial charges | 66B | - | €240 | +€240 | |
| Profit (loss) for the period before taxes | 9903 | €1,348 | €9,400 | +€8,053 | +597.5% |
| Profit (loss) for the period | 9904 | €1,348 | €9,400 | +€8,053 | +597.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,348 | €9,400 | +€8,053 | +597.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.