GRISARD PROPERTY: 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.
GRISARD PROPERTY
Largest movements
- Receivables within one year -€59,969
down €59,969 (-14.4%), from €415,891 to €355,921
of which Trade receivables: -€59,973
- Trade debts -€47,451
down €47,451 (-19.1%), from €248,218 to €200,767
- Short-term financial debts -€35,675
down €35,675 (-20.4%), from €175,301 to €139,626
- Profit (loss) carried forward +€20,015
up €20,015 (+42.9%), from -€46,686 to -€26,671
- Financial income -€49,416
no longer reported in 2025 (was €49,416)
of which Non-recurring financial income: -€49,416
- Gross operating margin -€36,813
down €36,813 (-39.0%), from €94,375 to €57,562
- Financial charges -€26,927
down €26,927 (-46.8%), from €57,517 to €30,590
- Taxes -€9,286
no longer reported in 2025 (was €9,286)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €846,845 | €783,564 | -€63,281 | -7.5% |
| Fixed assets | 21/28 | €29,726 | €26,414 | -€3,312 | -11.1% |
| Tangible fixed assets | 22/27 | €4,726 | €1,414 | -€3,312 | -70.1% |
| Plant, machinery and equipment | 23 | €4,726 | €1,414 | -€3,312 | -70.1% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €817,119 | €757,150 | -€59,969 | -7.3% |
| Stocks and contracts in progress | 3 | €401,229 | €401,229 | = | 0.0% |
| Stocks | 30/36 | €401,229 | €401,229 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €415,891 | €355,921 | -€59,969 | -14.4% |
| Trade receivables | 40 | €415,889 | €355,916 | -€59,973 | -14.4% |
| Other amounts receivable | 41 | €1 | €5 | +€4 | +267% |
| Total equity and liabilities | 10/49 | €846,845 | €783,564 | -€63,281 | -7.5% |
| Equity | 10/15 | €61,313 | €82,382 | +€21,068 | +34.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €7,999 | €9,052 | +€1,053 | +13.2% |
| Non-distributable reserves | 130/1 | €7,999 | €9,052 | +€1,053 | +13.2% |
| Legal reserve | 130 | €7,999 | €9,052 | +€1,053 | +13.2% |
| Profit (loss) carried forward | 14 | -€46,686 | -€26,671 | +€20,015 | +42.9% |
| Amounts payable | 17/49 | €785,532 | €701,182 | -€84,350 | -10.7% |
| Amounts payable after more than one year | 17 | €354,235 | €352,582 | -€1,653 | -0.5% |
| Financial debts | 170/4 | €352,582 | €352,582 | = | 0.0% |
| Advances received on contracts in progress | 176 | €1,653 | - | -€1,653 | |
| Amounts payable within one year | 42/48 | €431,297 | €348,600 | -€82,697 | -19.2% |
| Financial debts | 43 | €175,301 | €139,626 | -€35,675 | -20.4% |
| Credit institutions | 430/8 | €175,301 | €139,626 | -€35,675 | -20.4% |
| Trade debts | 44 | €248,218 | €200,767 | -€47,451 | -19.1% |
| Suppliers | 440/4 | €248,218 | €200,767 | -€47,451 | -19.1% |
| Taxes, remuneration and social security | 45 | €7,779 | €8,207 | +€429 | +5.5% |
| Taxes | 450/3 | - | €4,303 | +€4,303 | |
| Remuneration and social security | 454/9 | €7,779 | €3,905 | -€3,874 | -49.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,624 | €3,312 | -€312 | -8.6% |
| Other operating charges | 640/8 | €2,124 | €2,592 | +€468 | +22.0% |
| Gross operating margin | 9900 | €94,375 | €57,562 | -€36,813 | -39.0% |
| Operating profit (loss) | 9901 | €88,627 | €51,658 | -€36,969 | -41.7% |
| Financial income | 75/76B | €49,416 | - | -€49,416 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €49,416 | - | -€49,416 | |
| Financial charges | 65/66B | €57,517 | €30,590 | -€26,927 | -46.8% |
| Recurring financial charges | 65 | €57,517 | €30,590 | -€26,927 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €80,527 | €21,068 | -€59,458 | -73.8% |
| Income taxes | 67/77 | €9,286 | - | -€9,286 | |
| Profit (loss) for the period | 9904 | €71,240 | €21,068 | -€50,172 | -70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €71,240 | €21,068 | -€50,172 | -70.4% |
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 1 November 2026 via checked.be.