GRAZICO: 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.
GRAZICO
Largest movements
- Receivables within one year +€58,672
up €58,672 (+107.4%), from €54,605 to €113,278
of which Trade receivables: +€54,160
- Stocks and contracts -€9,264
down €9,264 (-25.7%), from €36,050 to €26,787
- Deferred charges and accrued income -€4,000
down €4,000 (-80.4%), from €4,975 to €975
- Cash -€3,051
down €3,051 (-65.6%), from €4,650 to €1,599
mainly Receivables within one year (-€58,672) and Investment in fixed assets (net) (-€1,250)
- Trade debts +€27,148
up €27,148 (+29.5%), from €91,928 to €119,076
- Tax, wage and social debts +€12,101
up €12,101 (+63.3%), from €19,117 to €31,218
- Other debts +€3,637
up €3,637 (+3032.8%), from €120 to €3,757
- Purchases and services -€11,176
down €11,176 (-6.8%), from €164,217 to €153,040
- Gross operating margin +€11,062
up €11,062 (+21.4%), from €51,586 to €62,647
- Staff costs +€8,641
up €8,641 (+16.7%), from €51,613 to €60,254
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 | €100,770 | €144,378 | +€43,608 | +43.3% |
| Fixed assets | 21/28 | €490 | €1,740 | +€1,250 | +255.1% |
| Tangible fixed assets | 22/27 | - | €1,250 | +€1,250 | |
| Plant, machinery and equipment | 23 | - | €1,250 | +€1,250 | |
| Financial fixed assets | 28 | €490 | €490 | = | 0.0% |
| Current assets | 29/58 | €100,280 | €142,638 | +€42,358 | +42.2% |
| Stocks and contracts in progress | 3 | €36,050 | €26,787 | -€9,264 | -25.7% |
| Stocks | 30/36 | €36,050 | €26,787 | -€9,264 | -25.7% |
| Amounts receivable within one year | 40/41 | €54,605 | €113,278 | +€58,672 | +107.4% |
| Trade receivables | 40 | €49,293 | €103,453 | +€54,160 | +109.9% |
| Other amounts receivable | 41 | €5,313 | €9,825 | +€4,512 | +84.9% |
| Cash at bank and in hand | 54/58 | €4,650 | €1,599 | -€3,051 | -65.6% |
| Deferred charges and accrued income | 490/1 | €4,975 | €975 | -€4,000 | -80.4% |
| Total equity and liabilities | 10/49 | €100,770 | €144,378 | +€43,608 | +43.3% |
| Equity | 10/15 | -€10,394 | -€9,672 | +€722 | +6.9% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Capital | 10 | €1 | €1 | = | 0.0% |
| Issued capital | 100 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,395 | -€9,673 | +€722 | +6.9% |
| Amounts payable | 17/49 | €111,165 | €154,051 | +€42,886 | +38.6% |
| Amounts payable within one year | 42/48 | €111,165 | €154,051 | +€42,886 | +38.6% |
| Trade debts | 44 | €91,928 | €119,076 | +€27,148 | +29.5% |
| Suppliers | 440/4 | €91,928 | €119,076 | +€27,148 | +29.5% |
| Taxes, remuneration and social security | 45 | €19,117 | €31,218 | +€12,101 | +63.3% |
| Remuneration and social security | 454/9 | €19,117 | €31,218 | +€12,101 | +63.3% |
| Other amounts payable | 47/48 | €120 | €3,757 | +€3,637 | +3032.8% |
| Turnover | 70 | €209,803 | €209,688 | -€115 | -0.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €164,217 | €153,040 | -€11,176 | -6.8% |
| Remuneration, social security and pensions | 62 | €51,613 | €60,254 | +€8,641 | +16.7% |
| Other operating charges | 640/8 | €2,000 | - | -€2,000 | |
| Gross operating margin | 9900 | €51,586 | €62,647 | +€11,062 | +21.4% |
| Operating profit (loss) | 9901 | -€2,028 | €2,393 | +€4,421 | |
| Financial income | 75/76B | - | €266 | +€266 | |
| Recurring financial income | 75 | - | €266 | +€266 | |
| Financial charges | 65/66B | €649 | €1,937 | +€1,289 | +198.7% |
| Recurring financial charges | 65 | €649 | €1,937 | +€1,289 | +198.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,676 | €722 | +€3,398 | |
| Profit (loss) for the period | 9904 | -€2,676 | €722 | +€3,398 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,676 | €722 | +€3,398 |
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 9 October 2026 via checked.be.