Grimaud: 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.
Grimaud
Largest movements
- Tangible fixed assets -€117,509
down €117,509 (-6.6%), from €1.8m to €1.7m
of which Land and buildings: -€115,885
- Receivables within one year +€106,535
up €106,535 (+2077.6%), from €5,128 to €111,663
of which Other amounts receivable: +€106,535
- Debts after one year +€311,742
up €311,742 (+731.9%), from €42,595 to €354,337
- Other debts -€243,611
down €243,611 (-100.0%), from €243,611 to €0
- Reserves -€107,814
down €107,814 (-8.3%), from €1.3m to €1.2m
of which Distributable reserves: -€107,814
- Current portion of long-term debt +€22,409
up €22,409 (+25.3%), from €88,695 to €111,105
- Taxes -€209,072
down €209,072, from €204,872 to -€4,200
- Other operating charges -€130,820
down €130,820 (-95.2%), from €137,368 to €6,547
- Gross operating margin -€34,814
down €34,814 (-57.5%), from €60,573 to €25,760
- Financial charges +€8,581
up €8,581 (+87.2%), from €9,842 to €18,423
- Financial income +€4,706
up €4,706, from €0 to €4,706
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 | €1,796,820 | €1,774,933 | -€21,887 | -1.2% |
| Fixed assets | 21/28 | €1,777,048 | €1,659,539 | -€117,509 | -6.6% |
| Tangible fixed assets | 22/27 | €1,777,048 | €1,659,539 | -€117,509 | -6.6% |
| Land and buildings | 22 | €1,772,950 | €1,657,065 | -€115,885 | -6.5% |
| Furniture and vehicles | 24 | €4,098 | €2,473 | -€1,624 | -39.6% |
| Current assets | 29/58 | €19,772 | €115,394 | +€95,622 | +483.6% |
| Amounts receivable within one year | 40/41 | €5,128 | €111,663 | +€106,535 | +2077.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,128 | €111,663 | +€106,535 | +2077.6% |
| Cash at bank and in hand | 54/58 | €12,285 | €1,297 | -€10,988 | -89.4% |
| Deferred charges and accrued income | 490/1 | €2,359 | €2,434 | +€74 | +3.2% |
| Total equity and liabilities | 10/49 | €1,796,820 | €1,774,933 | -€21,887 | -1.2% |
| Equity | 10/15 | €1,407,637 | €1,299,823 | -€107,814 | -7.7% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €1,302,637 | €1,194,823 | -€107,814 | -8.3% |
| Tax-exempt reserves | 132 | €52,000 | €52,000 | = | 0.0% |
| Distributable reserves | 133 | €1,250,637 | €1,142,823 | -€107,814 | -8.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €389,183 | €475,110 | +€85,927 | +22.1% |
| Amounts payable after more than one year | 17 | €42,595 | €354,337 | +€311,742 | +731.9% |
| Financial debts | 170/4 | €42,595 | €354,337 | +€311,742 | +731.9% |
| Amounts payable within one year | 42/48 | €341,135 | €116,447 | -€224,689 | -65.9% |
| Current portion of amounts payable after more than one year | 42 | €88,695 | €111,105 | +€22,409 | +25.3% |
| Trade debts | 44 | €6,652 | €3,164 | -€3,488 | -52.4% |
| Suppliers | 440/4 | €6,652 | €3,164 | -€3,488 | -52.4% |
| Advances received on contracts in progress | 46 | €2,178 | €2,178 | = | 0.0% |
| Other amounts payable | 47/48 | €243,611 | €0 | -€243,611 | -100.0% |
| Accrued charges and deferred income | 492/3 | €5,453 | €4,327 | -€1,126 | -20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,509 | €117,509 | = | 0.0% |
| Other operating charges | 640/8 | €137,368 | €6,547 | -€130,820 | -95.2% |
| Gross operating margin | 9900 | €60,573 | €25,760 | -€34,814 | -57.5% |
| Operating profit (loss) | 9901 | -€194,303 | -€98,297 | +€96,007 | +49.4% |
| Financial income | 75/76B | €0 | €4,706 | +€4,706 | |
| Recurring financial income | 75 | €0 | €4,706 | +€4,706 | |
| Financial charges | 65/66B | €9,842 | €18,423 | +€8,581 | +87.2% |
| Recurring financial charges | 65 | €9,842 | €18,423 | +€8,581 | +87.2% |
| Profit (loss) for the period before taxes | 9903 | -€204,146 | -€112,014 | +€92,131 | +45.1% |
| Transfer from deferred taxes | 780 | €362,823 | €0 | -€362,823 | -100.0% |
| Income taxes | 67/77 | €204,872 | -€4,200 | -€209,072 | |
| Profit (loss) for the period | 9904 | -€46,195 | -€107,814 | -€61,620 | -133.4% |
| Transfer from tax-exempt reserves | 789 | €864,230 | €0 | -€864,230 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €818,036 | -€107,814 | -€925,850 |
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 28 September 2026 via checked.be.