GrayMatters Consulting: 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.
GrayMatters Consulting
Largest movements
- Current investments +€380,132
up €380,132 (+14.4%), from €2.6m to €3.0m
- Cash -€305,261
down €305,261 (-62.2%), from €490,666 to €185,405
mainly Current investments (-€380,132) and Contributions, distributions and other (-€132,552)
- Receivables within one year +€77,102
up €77,102 (+35.5%), from €217,153 to €294,255
of which Other amounts receivable: +€75,888
- Reserves +€230,535
up €230,535 (+7.1%), from €3.2m to €3.5m
of which Tax-exempt reserves: +€210,500
- Tax, wage and social debts -€108,593
down €108,593 (-99.6%), from €109,005 to €412
of which Taxes: -€108,593
- Financial income -€1.6m
down €1.6m (-91.5%), from €1.8m to €150,275
- Taxes -€482,470
down €482,470 (-76.5%), from €630,915 to €148,445
- Financial charges +€129,347
up €129,347 (+252%), from €51,321 to €180,667
of which Financial charges: +€128,302
- Other operating charges -€19,905
down €19,905 (-25.5%), from €77,965 to €58,060
- Gross operating margin +€19,116
up €19,116 (+3.2%), from €588,553 to €607,668
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.
Derived cash bridge
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 | €3,415,834 | €3,572,293 | +€156,459 | +4.6% |
| Fixed assets | 21/28 | €62,058 | €66,701 | +€4,643 | +7.5% |
| Tangible fixed assets | 22/27 | €4,578 | €9,221 | +€4,643 | +101% |
| Furniture and vehicles | 24 | €4,578 | €6,464 | +€1,886 | +41.2% |
| Other tangible fixed assets | 26 | - | €2,758 | +€2,758 | |
| Financial fixed assets | 28 | €57,480 | €57,480 | = | 0.0% |
| Current assets | 29/58 | €3,353,776 | €3,505,592 | +€151,816 | +4.5% |
| Amounts receivable within one year | 40/41 | €217,153 | €294,255 | +€77,102 | +35.5% |
| Trade receivables | 40 | €216,553 | €217,767 | +€1,214 | +0.6% |
| Other amounts receivable | 41 | €600 | €76,488 | +€75,888 | +12,648% |
| Current investments | 50/53 | €2,645,225 | €3,025,357 | +€380,132 | +14.4% |
| Cash at bank and in hand | 54/58 | €490,666 | €185,405 | -€305,261 | -62.2% |
| Deferred charges and accrued income | 490/1 | €733 | €575 | -€158 | -21.5% |
| Total equity and liabilities | 10/49 | €3,415,834 | €3,572,293 | +€156,459 | +4.6% |
| Equity | 10/15 | €3,272,613 | €3,503,148 | +€230,535 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,247,925 | €3,478,460 | +€230,535 | +7.1% |
| Tax-exempt reserves | 132 | €757,800 | €968,300 | +€210,500 | +27.8% |
| Distributable reserves | 133 | €2,490,125 | €2,510,160 | +€20,035 | +0.8% |
| Profit (loss) carried forward | 14 | €6,088 | €6,088 | = | 0.0% |
| Amounts payable | 17/49 | €143,221 | €69,145 | -€74,076 | -51.7% |
| Amounts payable within one year | 42/48 | €143,221 | €69,145 | -€74,076 | -51.7% |
| Trade debts | 44 | €3,358 | €6,294 | +€2,936 | +87.4% |
| Suppliers | 440/4 | €3,358 | €6,294 | +€2,936 | +87.4% |
| Taxes, remuneration and social security | 45 | €109,005 | €412 | -€108,593 | -99.6% |
| Taxes | 450/3 | €109,005 | €412 | -€108,593 | -99.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,857 | €62,439 | +€31,581 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,464 | €3,933 | +€1,468 | +59.6% |
| Other operating charges | 640/8 | €77,965 | €58,060 | -€19,905 | -25.5% |
| Non-recurring operating charges | 66A | - | €3,752 | +€3,752 | |
| Gross operating margin | 9900 | €588,553 | €607,668 | +€19,116 | +3.2% |
| Operating profit (loss) | 9901 | €508,123 | €541,924 | +€33,801 | +6.7% |
| Financial income | 75/76B | €1,770,004 | €150,275 | -€1.6m | -91.5% |
| Recurring financial income | 75 | €1,770,004 | €150,275 | -€1.6m | -91.5% |
| Financial charges | 65/66B | €51,321 | €180,667 | +€129,347 | +252% |
| Recurring financial charges | 65 | €51,321 | €179,622 | +€128,302 | +250% |
| Non-recurring financial charges | 66B | - | €1,045 | +€1,045 | |
| Profit (loss) for the period before taxes | 9903 | €2,226,806 | €511,532 | -€1.7m | -77.0% |
| Income taxes | 67/77 | €630,915 | €148,445 | -€482,470 | -76.5% |
| Profit (loss) for the period | 9904 | €1,595,891 | €363,087 | -€1.2m | -77.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €757,800 | €210,500 | -€547,300 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €838,091 | €152,587 | -€685,504 | -81.8% |
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 22 October 2026 via checked.be.