GRAY D'ALBION II: what changed
What changed
GRAY D'ALBION II
filed annual accounts (NBB)
Net result for the year
€110,993
2024 · €159,270-€48,276
Equity
€1.8m
2024 · €1.9m-€89,007
Cash
€104,862
2024 · €93,551+€11,311
Balance sheet total
€2.5m
2024 · €2.4m+€26,976
Largest movements
Assets
- Receivables within one year +€50,023
up €50,023 (+81.1%), from €61,713 to €111,737
of which Other amounts receivable: +€33,000
- Tangible fixed assets -€34,359
down €34,359 (-1.5%), from €2.3m to €2.3m
Equity and liabilities
- Other debts +€202,060
up €202,060, from €0 to €202,060
- Current portion of long-term debt -€143,168
down €143,168 (-100%), from €143,168 to €0
- Profit (loss) carried forward -€89,007
down €89,007 (-4.9%), from €1.8m to €1.7m
- Debts after one year +€43,229
up €43,229 (+11.5%), from €374,862 to €418,091
Income statement
- Gross operating margin -€77,752
down €77,752 (-29.6%), from €262,324 to €184,572
- Taxes -€16,300
down €16,300 (-44.3%), from €36,800 to €20,500
- Financial charges -€12,998
down €12,998 (-43.5%), from €29,905 to €16,907
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€159,270
Gross operating margin
-€77,752
Other operating charges
+€177
Financial charges
+€12,998
Taxes
+€16,300
Result 2025
€110,993
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€311,251
Investment
€0
Financing
-€299,939
Cash 2024
€93,551
From operations (derived)
+€311,251
Net result for the year
+€110,993
Depreciation
+€34,359
Receivables within one year
-€50,023
Trade debts
+€19,887
Tax, wage and social debts
-€16,760
Other debts
+€202,060
Accrued charges and deferred income
+€10,735
Financing
-€299,939
Debts after one year
+€43,229
Current portion of long-term debt
-€143,168
Contributions, distributions and other
-€200,000
Cash 2025
€104,862
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,440,137 | €2,467,113 | +€26,976 | +1.1% |
| Fixed assets | 21/28 | €2,284,873 | €2,250,514 | -€34,359 | -1.5% |
| Tangible fixed assets | 22/27 | €2,284,873 | €2,250,514 | -€34,359 | -1.5% |
| Land and buildings | 22 | €2,284,873 | €2,250,514 | -€34,359 | -1.5% |
| Current assets | 29/58 | €155,264 | €216,599 | +€61,335 | +39.5% |
| Amounts receivable within one year | 40/41 | €61,713 | €111,737 | +€50,023 | +81.1% |
| Trade receivables | 40 | €7,468 | €24,491 | +€17,023 | +228% |
| Other amounts receivable | 41 | €54,245 | €87,245 | +€33,000 | +60.8% |
| Cash at bank and in hand | 54/58 | €93,551 | €104,862 | +€11,311 | +12.1% |
| Total equity and liabilities | 10/49 | €2,440,137 | €2,467,113 | +€26,976 | +1.1% |
| Equity | 10/15 | €1,896,432 | €1,807,426 | -€89,007 | -4.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,828,782 | €1,739,776 | -€89,007 | -4.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Taxes | 161 | €0 | - | = | |
| Amounts payable | 17/49 | €543,705 | €659,687 | +€115,982 | +21.3% |
| Amounts payable after more than one year | 17 | €374,862 | €418,091 | +€43,229 | +11.5% |
| Financial debts | 170/4 | €374,862 | €418,091 | +€43,229 | +11.5% |
| Amounts payable within one year | 42/48 | €168,843 | €230,861 | +€62,018 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €143,168 | €0 | -€143,168 | -100% |
| Trade debts | 44 | €6,010 | €25,897 | +€19,887 | +331% |
| Suppliers | 440/4 | €6,010 | €25,897 | +€19,887 | +331% |
| Taxes, remuneration and social security | 45 | €19,664 | €2,905 | -€16,760 | -85.2% |
| Taxes | 450/3 | €19,664 | €2,905 | -€16,760 | -85.2% |
| Other amounts payable | 47/48 | €0 | €202,060 | +€202,060 | |
| Accrued charges and deferred income | 492/3 | - | €10,735 | +€10,735 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,359 | €34,359 | = | 0.0% |
| Other operating charges | 640/8 | €1,990 | €1,812 | -€177 | -8.9% |
| Gross operating margin | 9900 | €262,324 | €184,572 | -€77,752 | -29.6% |
| Operating profit (loss) | 9901 | €225,975 | €148,401 | -€77,575 | -34.3% |
| Financial charges | 65/66B | €29,905 | €16,907 | -€12,998 | -43.5% |
| Recurring financial charges | 65 | €29,905 | €16,907 | -€12,998 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €196,070 | €131,493 | -€64,576 | -32.9% |
| Income taxes | 67/77 | €36,800 | €20,500 | -€16,300 | -44.3% |
| Profit (loss) for the period | 9904 | €159,270 | €110,993 | -€48,276 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €159,270 | €110,993 | -€48,276 | -30.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.