GRIFFIN EXCLUSIVE: 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.
GRIFFIN EXCLUSIVE
Largest movements
- Receivables within one year -€16,228
down €16,228 (-75.4%), from €21,524 to €5,296
- Financial fixed assets +€3,400
new in 2025: €3,400
- Stocks and contracts +€2,550
up €2,550 (+21.8%), from €11,679 to €14,229
- Cash -€2,472
down €2,472 (-84.7%), from €2,918 to €446
mainly Current portion of long-term debt (-€9,785) and Debts after one year (-€6,121)
- Tangible fixed assets -€1,687
down €1,687 (-16.8%), from €10,021 to €8,334
of which Leasing and similar rights: -€9,418
- Current portion of long-term debt -€9,785
down €9,785 (-75.1%), from €13,037 to €3,252
- Debts after one year -€6,121
no longer reported in 2025 (was €6,121)
- Reserves +€5,870
up €5,870 (+180%), from €3,270 to €9,140
- Trade debts -€3,816
down €3,816 (-65.0%), from €5,869 to €2,054
- Depreciation -€5,297
down €5,297 (-77.1%), from €6,871 to €1,575
- Taxes +€1,865
up €1,865 (+342%), from €546 to €2,411
- Financial charges -€1,315
down €1,315 (-40.1%), from €3,276 to €1,961
- Other operating charges +€195
up €195 (+48.4%), from €403 to €599
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 | €46,456 | €33,344 | -€13,112 | -28.2% |
| Fixed assets | 21/28 | €10,021 | €11,734 | +€1,713 | +17.1% |
| Tangible fixed assets | 22/27 | €10,021 | €8,334 | -€1,687 | -16.8% |
| Plant, machinery and equipment | 23 | €603 | €276 | -€328 | -54.3% |
| Furniture and vehicles | 24 | - | €8,058 | +€8,058 | |
| Leasing and similar rights | 25 | €9,418 | - | -€9,418 | |
| Financial fixed assets | 28 | - | €3,400 | +€3,400 | |
| Current assets | 29/58 | €36,435 | €21,610 | -€14,825 | -40.7% |
| Stocks and contracts in progress | 3 | €11,679 | €14,229 | +€2,550 | +21.8% |
| Stocks | 30/36 | €11,679 | €14,229 | +€2,550 | +21.8% |
| Amounts receivable within one year | 40/41 | €21,524 | €5,296 | -€16,228 | -75.4% |
| Trade receivables | 40 | €21,524 | €5,296 | -€16,228 | -75.4% |
| Cash at bank and in hand | 54/58 | €2,918 | €446 | -€2,472 | -84.7% |
| Deferred charges and accrued income | 490/1 | €314 | €1,639 | +€1,326 | +423% |
| Total equity and liabilities | 10/49 | €46,456 | €33,344 | -€13,112 | -28.2% |
| Equity | 10/15 | €8,270 | €14,140 | +€5,870 | +71.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,270 | €9,140 | +€5,870 | +180% |
| Distributable reserves | 133 | €3,270 | €9,140 | +€5,870 | +180% |
| Amounts payable | 17/49 | €38,186 | €19,204 | -€18,983 | -49.7% |
| Amounts payable after more than one year | 17 | €6,121 | - | -€6,121 | |
| Financial debts | 170/4 | €6,121 | - | -€6,121 | |
| Amounts payable within one year | 42/48 | €32,065 | €19,204 | -€12,861 | -40.1% |
| Current portion of amounts payable after more than one year | 42 | €13,037 | €3,252 | -€9,785 | -75.1% |
| Trade debts | 44 | €5,869 | €2,054 | -€3,816 | -65.0% |
| Suppliers | 440/4 | €5,869 | €2,054 | -€3,816 | -65.0% |
| Taxes, remuneration and social security | 45 | €12,842 | €13,166 | +€324 | +2.5% |
| Taxes | 450/3 | €12,842 | €13,166 | +€324 | +2.5% |
| Other amounts payable | 47/48 | €317 | €732 | +€415 | +131% |
| Non-recurring operating income | 76A | - | €657 | +€657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,871 | €1,575 | -€5,297 | -77.1% |
| Other operating charges | 640/8 | €403 | €599 | +€195 | +48.4% |
| Non-recurring operating charges | 66A | - | €190 | +€190 | |
| Gross operating margin | 9900 | €12,664 | €12,605 | -€60 | -0.5% |
| Operating profit (loss) | 9901 | €5,390 | €10,241 | +€4,852 | +90.0% |
| Financial income | 75/76B | €2 | €1 | -€1 | -50.8% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -50.8% |
| Financial charges | 65/66B | €3,276 | €1,961 | -€1,315 | -40.1% |
| Recurring financial charges | 65 | €3,276 | €1,961 | -€1,315 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €2,116 | €8,281 | +€6,166 | +291% |
| Income taxes | 67/77 | €546 | €2,411 | +€1,865 | +342% |
| Profit (loss) for the period | 9904 | €1,570 | €5,870 | +€4,300 | +274% |
| Profit (loss) for the period to be appropriated | 9905 | €1,570 | €5,870 | +€4,300 | +274% |
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 29 October 2026 via checked.be.