GRAYCE: 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.
GRAYCE
Largest movements
- Cash +€4,854
up €4,854 (+289.2%), from €1,679 to €6,533
mainly Net result for the year (+€1,834) and Receivables within one year (+€1,786)
- Receivables within one year -€1,786
down €1,786 (-92.3%), from €1,936 to €150
of which Trade receivables: -€1,936
- Intangible fixed assets -€1,095
down €1,095 (-36.7%), from €2,982 to €1,887
- Profit (loss) carried forward +€1,834
up €1,834 (+2.7%), from -€67,449 to -€65,614
- Other debts +€495
up €495 (+3.8%), from €13,034 to €13,529
- Tax, wage and social debts -€261
no longer reported in 2025 (was €261)
- Trade debts -€95
no longer reported in 2025 (was €95)
- Gross operating margin +€4,220
up €4,220, from -€306 to €3,915
- Depreciation -€1,818
down €1,818 (-62.4%), from €2,912 to €1,095
- Staff costs +€56
no longer reported in 2025 (was -€56)
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 | €6,596 | €8,570 | +€1,973 | +29.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,982 | €1,887 | -€1,095 | -36.7% |
| Intangible fixed assets | 21 | €2,982 | €1,887 | -€1,095 | -36.7% |
| Current assets | 29/58 | €3,615 | €6,683 | +€3,068 | +84.9% |
| Amounts receivable within one year | 40/41 | €1,936 | €150 | -€1,786 | -92.3% |
| Trade receivables | 40 | €1,936 | - | -€1,936 | |
| Other amounts receivable | 41 | - | €150 | +€150 | |
| Cash at bank and in hand | 54/58 | €1,679 | €6,533 | +€4,854 | +289.2% |
| Total equity and liabilities | 10/49 | €6,596 | €8,570 | +€1,973 | +29.9% |
| Equity | 10/15 | -€57,449 | -€55,614 | +€1,834 | +3.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,449 | -€65,614 | +€1,834 | +2.7% |
| Amounts payable | 17/49 | €64,045 | €64,184 | +€139 | +0.2% |
| Amounts payable after more than one year | 17 | €49,500 | €49,500 | = | 0.0% |
| Financial debts | 170/4 | €49,500 | €49,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,390 | €13,529 | +€139 | +1.0% |
| Trade debts | 44 | €95 | - | -€95 | |
| Suppliers | 440/4 | €95 | - | -€95 | |
| Taxes, remuneration and social security | 45 | €261 | - | -€261 | |
| Taxes | 450/3 | €261 | - | -€261 | |
| Other amounts payable | 47/48 | €13,034 | €13,529 | +€495 | +3.8% |
| Accrued charges and deferred income | 492/3 | €1,155 | €1,155 | = | 0.0% |
| Remuneration, social security and pensions | 62 | -€56 | - | +€56 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,912 | €1,095 | -€1,818 | -62.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€306 | €3,915 | +€4,220 | |
| Operating profit (loss) | 9901 | -€3,549 | €2,420 | +€5,970 | |
| Financial charges | 65/66B | €585 | €586 | +€1 | +0.2% |
| Recurring financial charges | 65 | €585 | €586 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,134 | €1,834 | +€5,969 | |
| Profit (loss) for the period | 9904 | -€4,134 | €1,834 | +€5,969 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,134 | €1,834 | +€5,969 |
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.