GRAWECO: 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.
GRAWECO
Largest movements
- Tangible fixed assets -€20,635
down €20,635 (-22.6%), from €91,392 to €70,757
of which Furniture and vehicles: -€12,584
- Stocks and contracts -€8,609
down €8,609 (-39.9%), from €21,585 to €12,976
- Profit (loss) carried forward -€18,300
down €18,300 (-14.9%), from -€123,116 to -€141,417
- Reserves -€4,513
down €4,513 (-8.1%), from €55,389 to €50,875
of which Tax-exempt reserves: -€4,513
- Debts after one year -€2,540
down €2,540 (-0.9%), from €272,244 to €269,704
- Other operating charges -€497
down €497 (-38.2%), from €1,300 to €804
- Gross operating margin -€373
down €373 (-16.0%), from -€2,334 to -€2,707
- Financial charges -€93
down €93 (-35.2%), from €264 to €171
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 | €226,212 | €199,605 | -€26,607 | -11.8% |
| Fixed assets | 21/28 | €91,392 | €70,757 | -€20,635 | -22.6% |
| Tangible fixed assets | 22/27 | €91,392 | €70,757 | -€20,635 | -22.6% |
| Plant, machinery and equipment | 23 | €2,260 | €826 | -€1,434 | -63.4% |
| Furniture and vehicles | 24 | €38,357 | €25,773 | -€12,584 | -32.8% |
| Other tangible fixed assets | 26 | €1,732 | €1,654 | -€78 | -4.5% |
| Assets under construction and advance payments | 27 | €49,043 | €42,503 | -€6,540 | -13.3% |
| Current assets | 29/58 | €134,820 | €128,848 | -€5,972 | -4.4% |
| Stocks and contracts in progress | 3 | €21,585 | €12,976 | -€8,609 | -39.9% |
| Stocks | 30/36 | €21,585 | €12,976 | -€8,609 | -39.9% |
| Amounts receivable within one year | 40/41 | €82,195 | €83,429 | +€1,234 | +1.5% |
| Trade receivables | 40 | €82,195 | €82,720 | +€525 | +0.6% |
| Other amounts receivable | 41 | - | €709 | +€709 | |
| Cash at bank and in hand | 54/58 | €24,529 | €26,099 | +€1,570 | +6.4% |
| Deferred charges and accrued income | 490/1 | €6,511 | €6,345 | -€167 | -2.6% |
| Total equity and liabilities | 10/49 | €226,212 | €199,605 | -€26,607 | -11.8% |
| Equity | 10/15 | -€65,734 | -€88,548 | -€22,813 | -34.7% |
| Contributions | 10/11 | €1,994 | €1,994 | = | 0.0% |
| Outside capital | 11 | €1,994 | €1,994 | = | 0.0% |
| Other | 1109/19 | €1,994 | €1,994 | = | 0.0% |
| Reserves | 13 | €55,389 | €50,875 | -€4,513 | -8.1% |
| Non-distributable reserves | 130/1 | €223 | €223 | = | 0.0% |
| Legal reserve | 130 | €223 | €223 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,240 | €27,727 | -€4,513 | -14.0% |
| Distributable reserves | 133 | €22,925 | €22,925 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,116 | -€141,417 | -€18,300 | -14.9% |
| Provisions and deferred taxes | 16 | €7,655 | €6,152 | -€1,503 | -19.6% |
| Deferred taxes | 168 | €7,655 | €6,152 | -€1,503 | -19.6% |
| Amounts payable | 17/49 | €284,292 | €282,001 | -€2,291 | -0.8% |
| Amounts payable after more than one year | 17 | €272,244 | €269,704 | -€2,540 | -0.9% |
| Other amounts payable | 178/9 | €272,244 | €269,704 | -€2,540 | -0.9% |
| Amounts payable within one year | 42/48 | €12,048 | €12,297 | +€249 | +2.1% |
| Trade debts | 44 | €6,191 | €6,440 | +€249 | +4.0% |
| Suppliers | 440/4 | €6,191 | €6,440 | +€249 | +4.0% |
| Advances received on contracts in progress | 46 | €4,857 | €4,857 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,000 | €1,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,635 | €20,635 | = | 0.0% |
| Other operating charges | 640/8 | €1,300 | €804 | -€497 | -38.2% |
| Gross operating margin | 9900 | -€2,334 | -€2,707 | -€373 | -16.0% |
| Operating profit (loss) | 9901 | -€24,269 | -€24,146 | +€124 | +0.5% |
| Financial income | 75/76B | €3 | €1 | -€3 | -83.9% |
| Recurring financial income | 75 | €3 | €1 | -€3 | -83.9% |
| Financial charges | 65/66B | €264 | €171 | -€93 | -35.2% |
| Recurring financial charges | 65 | €264 | €171 | -€93 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | -€24,530 | -€24,316 | +€214 | +0.9% |
| Transfer from deferred taxes | 780 | €1,503 | €1,503 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€23,027 | -€22,813 | +€214 | +0.9% |
| Transfer from tax-exempt reserves | 789 | €4,513 | €4,513 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,514 | -€18,300 | +€214 | +1.2% |
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 8 October 2026 via checked.be.