LE GRATIN: 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.
LE GRATIN
Largest movements
- Tangible fixed assets -€113,585
down €113,585 (-32.9%), from €345,591 to €232,005
of which Land and buildings: -€79,560
- Financial fixed assets +€81,000
up €81,000 (+60,511%), from €134 to €81,134
- Receivables within one year +€42,811
up €42,811 (+91.6%), from €46,748 to €89,559
of which Other amounts receivable: +€48,897
- Cash -€15,371
down €15,371 (-3.5%), from €434,707 to €419,336
mainly Contributions, distributions and other (-€201,940) and Trade debts (-€52,587)
- Other debts +€106,531
up €106,531 (+689%), from €15,469 to €122,000
- Trade debts -€52,587
down €52,587 (-30.7%), from €171,239 to €118,653
- Current portion of long-term debt -€50,330
no longer reported in 2025 (was €50,330)
- Reserves -€39,655
down €39,655 (-9.4%), from €419,704 to €380,049
of which Distributable reserves: -€37,796
- Tax, wage and social debts +€25,588
up €25,588 (+16.7%), from €153,359 to €178,946
of which Remuneration and social security: +€20,708
- Gross operating margin +€150,255
up €150,255 (+26.8%), from €560,528 to €710,782
- Staff costs +€66,811
up €66,811 (+21.3%), from €313,552 to €380,363
- Taxes +€15,403
up €15,403 (+31.0%), from €49,619 to €65,022
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 | €853,312 | €846,002 | -€7,310 | -0.9% |
| Fixed assets | 21/28 | €345,725 | €313,139 | -€32,585 | -9.4% |
| Tangible fixed assets | 22/27 | €345,591 | €232,005 | -€113,585 | -32.9% |
| Land and buildings | 22 | €183,600 | €104,040 | -€79,560 | -43.3% |
| Plant, machinery and equipment | 23 | €112,575 | €88,359 | -€24,216 | -21.5% |
| Furniture and vehicles | 24 | €49,416 | €39,606 | -€9,809 | -19.9% |
| Financial fixed assets | 28 | €134 | €81,134 | +€81,000 | +60,511% |
| Current assets | 29/58 | €507,587 | €532,863 | +€25,276 | +5.0% |
| Stocks and contracts in progress | 3 | €20,984 | €17,749 | -€3,235 | -15.4% |
| Stocks | 30/36 | €20,984 | €17,749 | -€3,235 | -15.4% |
| Amounts receivable within one year | 40/41 | €46,748 | €89,559 | +€42,811 | +91.6% |
| Trade receivables | 40 | €19,390 | €13,304 | -€6,086 | -31.4% |
| Other amounts receivable | 41 | €27,358 | €76,255 | +€48,897 | +179% |
| Cash at bank and in hand | 54/58 | €434,707 | €419,336 | -€15,371 | -3.5% |
| Deferred charges and accrued income | 490/1 | €5,148 | €6,219 | +€1,071 | +20.8% |
| Total equity and liabilities | 10/49 | €853,312 | €846,002 | -€7,310 | -0.9% |
| Equity | 10/15 | €462,915 | €426,403 | -€36,512 | -7.9% |
| Contributions | 10/11 | €18,577 | €18,577 | = | 0.0% |
| Reserves | 13 | €419,704 | €380,049 | -€39,655 | -9.4% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €417,845 | €380,049 | -€37,796 | -9.0% |
| Profit (loss) carried forward | 14 | €24,634 | €27,777 | +€3,143 | +12.8% |
| Amounts payable | 17/49 | €390,397 | €419,599 | +€29,202 | +7.5% |
| Amounts payable within one year | 42/48 | €390,397 | €419,599 | +€29,202 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €50,330 | - | -€50,330 | |
| Trade debts | 44 | €171,239 | €118,653 | -€52,587 | -30.7% |
| Suppliers | 440/4 | €171,239 | €118,653 | -€52,587 | -30.7% |
| Taxes, remuneration and social security | 45 | €153,359 | €178,946 | +€25,588 | +16.7% |
| Taxes | 450/3 | €109,034 | €113,914 | +€4,880 | +4.5% |
| Remuneration and social security | 454/9 | €44,325 | €65,032 | +€20,708 | +46.7% |
| Other amounts payable | 47/48 | €15,469 | €122,000 | +€106,531 | +689% |
| Non-recurring operating income | 76A | - | €8,951 | +€8,951 | |
| Remuneration, social security and pensions | 62 | €313,552 | €380,363 | +€66,811 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,435 | €68,891 | -€4,544 | -6.2% |
| Other operating charges | 640/8 | €10,888 | €13,265 | +€2,376 | +21.8% |
| Gross operating margin | 9900 | €560,528 | €710,782 | +€150,255 | +26.8% |
| Operating profit (loss) | 9901 | €162,652 | €248,264 | +€85,612 | +52.6% |
| Financial income | 75/76B | €7,651 | €5,939 | -€1,712 | -22.4% |
| Recurring financial income | 75 | €7,651 | €5,939 | -€1,712 | -22.4% |
| Financial charges | 65/66B | €19,073 | €23,754 | +€4,681 | +24.5% |
| Recurring financial charges | 65 | €19,073 | €23,754 | +€4,681 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €151,231 | €230,449 | +€79,218 | +52.4% |
| Income taxes | 67/77 | €49,619 | €65,022 | +€15,403 | +31.0% |
| Profit (loss) for the period | 9904 | €101,612 | €165,428 | +€63,816 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | €101,612 | €165,428 | +€63,816 | +62.8% |
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 23 October 2026 via checked.be.