MA GRIFFE: 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.
MA GRIFFE
Largest movements
- Receivables within one year +€2,977
new in 2025: €2,977
of which Other amounts receivable: +€2,333
- Stocks and contracts -€2,698
down €2,698 (-8.2%), from €32,963 to €30,265
- Cash -€2,214
down €2,214 (-58.4%), from €3,791 to €1,577
mainly Net result for the year (-€7,089) and Receivables within one year (-€2,977)
- Deferred charges and accrued income -€1,538
down €1,538 (-18.3%), from €8,382 to €6,844
- Tangible fixed assets +€748
up €748 (+29.5%), from €2,537 to €3,286
of which Furniture and vehicles: +€938
- Profit (loss) carried forward -€7,089
down €7,089 (-8.4%), from -€84,380 to -€91,469
- Other debts +€4,941
new in 2025: €4,941
- Trade debts +€2,323
up €2,323 (+14.0%), from €16,582 to €18,905
- Short-term financial debts -€1,701
down €1,701 (-15.2%), from €11,195 to €9,494
- Tax, wage and social debts -€860
down €860 (-1.5%), from €55,554 to €54,694
of which Taxes: -€6,307
- Financial charges +€6,172
up €6,172 (+79.6%), from €7,756 to €13,927
- Gross operating margin +€3,967
up €3,967 (+5.0%), from €79,955 to €83,922
- Staff costs -€2,290
down €2,290 (-3.1%), from €74,312 to €72,022
- Other operating charges +€2,112
up €2,112 (+188.4%), from €1,121 to €3,234
- Taxes +€1,043
up €1,043 (+538.8%), from €194 to €1,236
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 | €48,503 | €45,779 | -€2,724 | -5.6% |
| Fixed assets | 21/28 | €3,367 | €4,116 | +€748 | +22.2% |
| Tangible fixed assets | 22/27 | €2,537 | €3,286 | +€748 | +29.5% |
| Plant, machinery and equipment | 23 | €228 | €60 | -€168 | -73.6% |
| Furniture and vehicles | 24 | €122 | €1,060 | +€938 | +767.1% |
| Other tangible fixed assets | 26 | €2,187 | €2,166 | -€21 | -1.0% |
| Financial fixed assets | 28 | €830 | €830 | = | 0.0% |
| Current assets | 29/58 | €45,136 | €41,664 | -€3,472 | -7.7% |
| Stocks and contracts in progress | 3 | €32,963 | €30,265 | -€2,698 | -8.2% |
| Stocks | 30/36 | €32,963 | €30,265 | -€2,698 | -8.2% |
| Amounts receivable within one year | 40/41 | - | €2,977 | +€2,977 | |
| Trade receivables | 40 | - | €644 | +€644 | |
| Other amounts receivable | 41 | - | €2,333 | +€2,333 | |
| Cash at bank and in hand | 54/58 | €3,791 | €1,577 | -€2,214 | -58.4% |
| Deferred charges and accrued income | 490/1 | €8,382 | €6,844 | -€1,538 | -18.3% |
| Total equity and liabilities | 10/49 | €48,503 | €45,779 | -€2,724 | -5.6% |
| Equity | 10/15 | -€35,739 | -€42,828 | -€7,089 | -19.8% |
| Contributions | 10/11 | €43,592 | €43,592 | = | 0.0% |
| Reserves | 13 | €5,049 | €5,049 | = | 0.0% |
| Distributable reserves | 133 | €5,049 | €5,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,380 | -€91,469 | -€7,089 | -8.4% |
| Amounts payable | 17/49 | €84,242 | €88,607 | +€4,365 | +5.2% |
| Amounts payable within one year | 42/48 | €83,331 | €88,034 | +€4,703 | +5.6% |
| Financial debts | 43 | €11,195 | €9,494 | -€1,701 | -15.2% |
| Credit institutions | 430/8 | €11,195 | €9,494 | -€1,701 | -15.2% |
| Trade debts | 44 | €16,582 | €18,905 | +€2,323 | +14.0% |
| Suppliers | 440/4 | €16,582 | €18,905 | +€2,323 | +14.0% |
| Taxes, remuneration and social security | 45 | €55,554 | €54,694 | -€860 | -1.5% |
| Taxes | 450/3 | €31,225 | €24,918 | -€6,307 | -20.2% |
| Remuneration and social security | 454/9 | €24,329 | €29,776 | +€5,447 | +22.4% |
| Other amounts payable | 47/48 | - | €4,941 | +€4,941 | |
| Accrued charges and deferred income | 492/3 | €911 | €573 | -€338 | -37.1% |
| Remuneration, social security and pensions | 62 | €74,312 | €72,022 | -€2,290 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €699 | €707 | +€7 | +1.1% |
| Other operating charges | 640/8 | €1,121 | €3,234 | +€2,112 | +188.4% |
| Gross operating margin | 9900 | €79,955 | €83,922 | +€3,967 | +5.0% |
| Operating profit (loss) | 9901 | €3,822 | €7,960 | +€4,138 | +108.3% |
| Financial income | 75/76B | €174 | €115 | -€59 | -34.0% |
| Recurring financial income | 75 | €174 | €115 | -€59 | -34.0% |
| Financial charges | 65/66B | €7,756 | €13,927 | +€6,172 | +79.6% |
| Recurring financial charges | 65 | €7,756 | €13,927 | +€6,172 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,760 | -€5,853 | -€2,093 | -55.7% |
| Income taxes | 67/77 | €194 | €1,236 | +€1,043 | +538.8% |
| Profit (loss) for the period | 9904 | -€3,953 | -€7,089 | -€3,136 | -79.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,953 | -€7,089 | -€3,136 | -79.3% |
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 6 October 2026 via checked.be.