La Grappa: 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.
La Grappa
Largest movements
- Receivables within one year +€55,107
up €55,107 (+58.5%), from €94,234 to €149,341
of which Other amounts receivable: +€56,614
- Cash -€17,680
down €17,680 (-81.8%), from €21,614 to €3,934
mainly Receivables within one year (-€55,107) and Short-term financial debts (-€6,679)
- Reserves +€27,329
up €27,329 (+54.6%), from €50,015 to €77,343
of which Distributable reserves: +€27,329
- Tax, wage and social debts +€6,814
up €6,814 (+16.8%), from €40,586 to €47,400
of which Remuneration and social security: +€5,598
- Short-term financial debts -€6,679
down €6,679 (-100%), from €6,679 to €0
- Current portion of long-term debt +€4,996
new in 2025: €4,996
- Trade debts +€3,778
up €3,778 (+48.9%), from €7,733 to €11,511
- Taxes -€21,181
down €21,181 (-64.8%), from €32,673 to €11,492
- Other operating charges -€18,301
down €18,301 (-81.9%), from €22,354 to €4,053
- Staff costs +€11,578
up €11,578 (+26.0%), from €44,503 to €56,081
- Financial income -€3,706
down €3,706 (-30.3%), from €12,225 to €8,518
of which Non-recurring financial income: -€8,548
- Gross operating margin +€1,442
up €1,442 (+1.5%), from €96,260 to €97,703
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 | €125,013 | €161,250 | +€36,238 | +29.0% |
| Fixed assets | 21/28 | €8,616 | €7,729 | -€887 | -10.3% |
| Tangible fixed assets | 22/27 | €5,825 | €4,938 | -€887 | -15.2% |
| Plant, machinery and equipment | 23 | €5,659 | €4,938 | -€721 | -12.7% |
| Other tangible fixed assets | 26 | €166 | €0 | -€166 | -100% |
| Financial fixed assets | 28 | €2,791 | €2,791 | = | 0.0% |
| Current assets | 29/58 | €116,396 | €153,521 | +€37,125 | +31.9% |
| Stocks and contracts in progress | 3 | €548 | €246 | -€303 | -55.2% |
| Stocks | 30/36 | €548 | €246 | -€303 | -55.2% |
| Amounts receivable within one year | 40/41 | €94,234 | €149,341 | +€55,107 | +58.5% |
| Trade receivables | 40 | €2,111 | €604 | -€1,507 | -71.4% |
| Other amounts receivable | 41 | €92,124 | €148,738 | +€56,614 | +61.5% |
| Cash at bank and in hand | 54/58 | €21,614 | €3,934 | -€17,680 | -81.8% |
| Total equity and liabilities | 10/49 | €125,013 | €161,250 | +€36,238 | +29.0% |
| Equity | 10/15 | €70,015 | €97,343 | +€27,329 | +39.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €50,015 | €77,343 | +€27,329 | +54.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €48,015 | €75,343 | +€27,329 | +56.9% |
| Amounts payable | 17/49 | €54,998 | €63,907 | +€8,909 | +16.2% |
| Amounts payable within one year | 42/48 | €54,998 | €63,907 | +€8,909 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | - | €4,996 | +€4,996 | |
| Financial debts | 43 | €6,679 | €0 | -€6,679 | -100% |
| Credit institutions | 430/8 | €6,679 | €0 | -€6,679 | -100% |
| Trade debts | 44 | €7,733 | €11,511 | +€3,778 | +48.9% |
| Suppliers | 440/4 | €7,733 | €11,511 | +€3,778 | +48.9% |
| Taxes, remuneration and social security | 45 | €40,586 | €47,400 | +€6,814 | +16.8% |
| Taxes | 450/3 | €29,665 | €30,880 | +€1,215 | +4.1% |
| Remuneration and social security | 454/9 | €10,922 | €16,520 | +€5,598 | +51.3% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €44,503 | €56,081 | +€11,578 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,655 | €2,032 | +€377 | +22.8% |
| Other operating charges | 640/8 | €22,354 | €4,053 | -€18,301 | -81.9% |
| Non-recurring operating charges | 66A | €11,944 | €852 | -€11,092 | -92.9% |
| Gross operating margin | 9900 | €96,260 | €97,703 | +€1,442 | +1.5% |
| Operating profit (loss) | 9901 | €15,804 | €34,685 | +€18,881 | +119% |
| Financial income | 75/76B | €12,225 | €8,518 | -€3,706 | -30.3% |
| Recurring financial income | 75 | €3,676 | €8,518 | +€4,842 | +132% |
| Non-recurring financial income | 76B | €8,548 | - | -€8,548 | |
| Financial charges | 65/66B | €4,080 | €4,383 | +€303 | +7.4% |
| Recurring financial charges | 65 | €4,080 | €4,383 | +€303 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €23,948 | €38,821 | +€14,872 | +62.1% |
| Income taxes | 67/77 | €32,673 | €11,492 | -€21,181 | -64.8% |
| Profit (loss) for the period | 9904 | -€8,725 | €27,329 | +€36,053 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,725 | €27,329 | +€36,053 |
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 13 October 2026 via checked.be.