GRIMARNAUD: 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.
GRIMARNAUD
Largest movements
- Receivables after one year +€205,400
new in 2025: €205,400
- Receivables within one year -€89,504
down €89,504 (-99.4%), from €90,056 to €552
of which Other amounts receivable: -€88,657
- Tangible fixed assets +€21,004
up €21,004 (+3.5%), from €599,605 to €620,609
of which Furniture and vehicles: +€24,834
- Debts after one year +€86,901
up €86,901 (+20.5%), from €423,558 to €510,459
of which Other amounts payable: +€58,050
- Profit (loss) carried forward +€43,167
up €43,167 (+15.7%), from €275,632 to €318,799
- Gross operating margin +€30,439
up €30,439 (+96.5%), from €31,557 to €61,996
- Other operating charges -€4,617
down €4,617 (-81.9%), from €5,636 to €1,019
- Taxes +€3,010
up €3,010 (+800.5%), from €376 to €3,386
- Depreciation -€1,323
down €1,323 (-24.4%), from €5,418 to €4,095
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 | €902,635 | €1,038,165 | +€135,530 | +15.0% |
| Fixed assets | 21/28 | €809,605 | €830,609 | +€21,004 | +2.6% |
| Tangible fixed assets | 22/27 | €599,605 | €620,609 | +€21,004 | +3.5% |
| Land and buildings | 22 | €589,812 | €586,982 | -€2,830 | -0.5% |
| Plant, machinery and equipment | 23 | €9,000 | €8,000 | -€1,000 | -11.1% |
| Furniture and vehicles | 24 | €793 | €25,627 | +€24,834 | +3131.7% |
| Financial fixed assets | 28 | €210,000 | €210,000 | = | 0.0% |
| Current assets | 29/58 | €93,030 | €207,556 | +€114,526 | +123.1% |
| Amounts receivable after more than one year | 29 | - | €205,400 | +€205,400 | |
| Other amounts receivable | 291 | - | €205,400 | +€205,400 | |
| Amounts receivable within one year | 40/41 | €90,056 | €552 | -€89,504 | -99.4% |
| Trade receivables | 40 | €847 | - | -€847 | |
| Other amounts receivable | 41 | €89,209 | €552 | -€88,657 | -99.4% |
| Cash at bank and in hand | 54/58 | €2,974 | €1,604 | -€1,370 | -46.1% |
| Total equity and liabilities | 10/49 | €902,635 | €1,038,165 | +€135,530 | +15.0% |
| Equity | 10/15 | €308,252 | €351,419 | +€43,167 | +14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,220 | €20,220 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €18,360 | €18,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,632 | €318,799 | +€43,167 | +15.7% |
| Provisions and deferred taxes | 16 | €136,851 | €136,851 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €136,851 | €136,851 | = | 0.0% |
| Pensions and similar obligations | 160 | €136,851 | €136,851 | = | 0.0% |
| Amounts payable | 17/49 | €457,532 | €549,895 | +€92,363 | +20.2% |
| Amounts payable after more than one year | 17 | €423,558 | €510,459 | +€86,901 | +20.5% |
| Financial debts | 170/4 | €423,558 | €452,409 | +€28,851 | +6.8% |
| Other amounts payable | 178/9 | - | €58,050 | +€58,050 | |
| Amounts payable within one year | 42/48 | €33,974 | €39,436 | +€5,462 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €26,120 | €35,361 | +€9,241 | +35.4% |
| Trade debts | 44 | €5,259 | €4,075 | -€1,184 | -22.5% |
| Suppliers | 440/4 | €5,259 | €4,075 | -€1,184 | -22.5% |
| Taxes, remuneration and social security | 45 | €1,399 | - | -€1,399 | |
| Taxes | 450/3 | €1,399 | - | -€1,399 | |
| Other amounts payable | 47/48 | €1,196 | - | -€1,196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,418 | €4,095 | -€1,323 | -24.4% |
| Other operating charges | 640/8 | €5,636 | €1,019 | -€4,617 | -81.9% |
| Gross operating margin | 9900 | €31,557 | €61,996 | +€30,439 | +96.5% |
| Operating profit (loss) | 9901 | €20,503 | €56,882 | +€36,379 | +177.4% |
| Financial charges | 65/66B | €10,437 | €10,329 | -€108 | -1.0% |
| Recurring financial charges | 65 | €10,437 | €10,329 | -€108 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €10,066 | €46,553 | +€36,487 | +362.5% |
| Income taxes | 67/77 | €376 | €3,386 | +€3,010 | +800.5% |
| Profit (loss) for the period | 9904 | €9,690 | €43,167 | +€33,477 | +345.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,690 | €43,167 | +€33,477 | +345.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.