GRAVINA: 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.
GRAVINA
Largest movements
- Cash +€11,652
up €11,652 (+117.3%), from €9,936 to €21,588
mainly Short-term financial debts (+€19,200) and Other debts (+€11,351)
- Receivables within one year +€10,703
up €10,703 (+31.8%), from €33,693 to €44,396
of which Other amounts receivable: +€7,534
- Tangible fixed assets +€8,401
new in 2025: €8,401
- Short-term financial debts +€19,200
up €19,200 (+36.7%), from €52,259 to €71,459
- Other debts +€11,351
up €11,351 (+39.0%), from €29,073 to €40,424
- Profit (loss) carried forward -€4,312
down €4,312 (-15.3%), from €28,244 to €23,933
- Gross operating margin -€3,430
down €3,430 (-39.3%), from €8,728 to €5,299
- Financial charges -€1,097
down €1,097 (-14.9%), from €7,336 to €6,239
- Taxes -€928
down €928 (-42.6%), from €2,178 to €1,250
- Depreciation +€627
up €627 (+459.1%), from €137 to €764
- Financial income +€148
up €148 (+1335.5%), from €11 to €159
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 | €173,946 | €202,963 | +€29,017 | +16.7% |
| Fixed assets | 21/28 | - | €8,401 | +€8,401 | |
| Tangible fixed assets | 22/27 | - | €8,401 | +€8,401 | |
| Furniture and vehicles | 24 | - | €8,401 | +€8,401 | |
| Current assets | 29/58 | €173,946 | €194,562 | +€20,616 | +11.9% |
| Stocks and contracts in progress | 3 | €126,044 | €124,220 | -€1,824 | -1.4% |
| Stocks | 30/36 | €126,044 | €124,220 | -€1,824 | -1.4% |
| Amounts receivable within one year | 40/41 | €33,693 | €44,396 | +€10,703 | +31.8% |
| Trade receivables | 40 | €33,612 | €36,781 | +€3,169 | +9.4% |
| Other amounts receivable | 41 | €80 | €7,615 | +€7,534 | +9370.8% |
| Cash at bank and in hand | 54/58 | €9,936 | €21,588 | +€11,652 | +117.3% |
| Deferred charges and accrued income | 490/1 | €4,274 | €4,359 | +€84 | +2.0% |
| Total equity and liabilities | 10/49 | €173,946 | €202,963 | +€29,017 | +16.7% |
| Equity | 10/15 | €62,754 | €58,443 | -€4,312 | -6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,910 | €15,910 | = | 0.0% |
| Distributable reserves | 133 | €15,910 | €15,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,244 | €23,933 | -€4,312 | -15.3% |
| Amounts payable | 17/49 | €111,191 | €144,520 | +€33,328 | +30.0% |
| Amounts payable within one year | 42/48 | €109,858 | €143,145 | +€33,287 | +30.3% |
| Financial debts | 43 | €52,259 | €71,459 | +€19,200 | +36.7% |
| Credit institutions | 430/8 | €52,259 | €71,459 | +€19,200 | +36.7% |
| Trade debts | 44 | €14,715 | €16,676 | +€1,961 | +13.3% |
| Suppliers | 440/4 | €14,715 | €16,676 | +€1,961 | +13.3% |
| Taxes, remuneration and social security | 45 | €13,810 | €14,586 | +€775 | +5.6% |
| Taxes | 450/3 | €5,914 | €2,172 | -€3,742 | -63.3% |
| Remuneration and social security | 454/9 | €7,896 | €12,414 | +€4,518 | +57.2% |
| Other amounts payable | 47/48 | €29,073 | €40,424 | +€11,351 | +39.0% |
| Accrued charges and deferred income | 492/3 | €1,334 | €1,375 | +€41 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137 | €764 | +€627 | +459.1% |
| Other operating charges | 640/8 | €1,572 | €1,516 | -€57 | -3.6% |
| Gross operating margin | 9900 | €8,728 | €5,299 | -€3,430 | -39.3% |
| Operating profit (loss) | 9901 | €7,019 | €3,019 | -€4,000 | -57.0% |
| Financial income | 75/76B | €11 | €159 | +€148 | +1335.5% |
| Recurring financial income | 75 | €11 | €159 | +€148 | +1335.5% |
| Financial charges | 65/66B | €7,336 | €6,239 | -€1,097 | -14.9% |
| Recurring financial charges | 65 | €7,336 | €6,239 | -€1,097 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€306 | -€3,062 | -€2,756 | -901.7% |
| Income taxes | 67/77 | €2,178 | €1,250 | -€928 | -42.6% |
| Profit (loss) for the period | 9904 | -€2,484 | -€4,312 | -€1,828 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,484 | -€4,312 | -€1,828 | -73.6% |
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 11 October 2026 via checked.be.