GIRLS IMMO: 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.
What changed
GIRLS IMMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
-€255,636
2025 · -€161,145-€94,490
Equity
€17.3m
2025 · €17.5m-€255,636
Cash
€67,042
2025 · €170,949-€103,907
Balance sheet total
€32.7m
2025 · €32.4m+€358,000
Largest movements
Assets
- Receivables after one year +€4.1m
up €4.1m, from €0 to €4.1m
- Receivables within one year -€2.7m
down €2.7m (-90.6%), from €3.0m to €285,039
of which Other amounts receivable: -€3.0m
- Tangible fixed assets -€872,909
down €872,909 (-3.0%), from €29.2m to €28.3m
Equity and liabilities
- Current portion of long-term debt +€478,765
up €478,765 (+43.7%), from €1.1m to €1.6m
Income statement
- Financial charges +€107,919
up €107,919 (+30.6%), from €352,374 to €460,293
- Financial income +€71,368
up €71,368 (+333%), from €21,412 to €92,780
- Gross operating margin -€40,709
down €40,709 (-3.1%), from €1.3m to €1.3m
From the 2025 result to the 2026 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.
Result 2025
-€161,145
Gross operating margin
-€40,709
Depreciation
+€150
Other operating charges
-€8,642
Other operating items
-€8,740
Financial income
+€71,368
Financial charges
-€107,919
Result 2026
-€255,636
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€690,986
Investment
€0
Financing
+€587,080
Cash 2025
€170,949
From operations (derived)
-€690,986
Net result for the year
-€255,636
Depreciation
+€872,909
Receivables after one year
-€4.1m
Receivables within one year
+€2.7m
Trade debts
+€33,258
Smaller working-capital items
-€6,702
Financing
+€587,080
Debts after one year
+€72,484
Current portion of long-term debt
+€478,765
Short-term financial debts
+€35,830
Cash 2026
€67,042
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,365,197 | €32,723,197 | +€358,000 | +1.1% |
| Fixed assets | 21/28 | €29,162,049 | €28,289,140 | -€872,909 | -3.0% |
| Tangible fixed assets | 22/27 | €29,162,049 | €28,289,140 | -€872,909 | -3.0% |
| Land and buildings | 22 | €29,162,049 | €28,289,140 | -€872,909 | -3.0% |
| Current assets | 29/58 | €3,203,148 | €4,434,057 | +€1.2m | +38.4% |
| Amounts receivable after more than one year | 29 | €0 | €4,081,976 | +€4.1m | |
| Other amounts receivable | 291 | €0 | €4,081,976 | +€4.1m | |
| Amounts receivable within one year | 40/41 | €3,032,199 | €285,039 | -€2.7m | -90.6% |
| Trade receivables | 40 | - | €285,037 | +€285,037 | |
| Other amounts receivable | 41 | €3,032,199 | €2 | -€3.0m | -100.0% |
| Cash at bank and in hand | 54/58 | €170,949 | €67,042 | -€103,907 | -60.8% |
| Total equity and liabilities | 10/49 | €32,365,197 | €32,723,197 | +€358,000 | +1.1% |
| Equity | 10/15 | €17,520,774 | €17,265,138 | -€255,636 | -1.5% |
| Contributions | 10/11 | €17,750,000 | €17,750,000 | = | 0.0% |
| Capital | 10 | €17,750,000 | €17,750,000 | = | 0.0% |
| Issued capital | 100 | €17,750,000 | €17,750,000 | = | 0.0% |
| Reserves | 13 | €132,343 | €132,343 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,193 | €50,193 | = | 0.0% |
| Legal reserve | 130 | €50,193 | €50,193 | = | 0.0% |
| Distributable reserves | 133 | €82,150 | €82,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€361,569 | -€617,205 | -€255,636 | -70.7% |
| Amounts payable | 17/49 | €14,844,423 | €15,458,059 | +€613,636 | +4.1% |
| Amounts payable after more than one year | 17 | €13,517,377 | €13,589,861 | +€72,484 | +0.5% |
| Financial debts | 170/4 | €10,835,267 | €10,720,698 | -€114,569 | -1.1% |
| Other amounts payable | 178/9 | €2,682,110 | €2,869,162 | +€187,053 | +7.0% |
| Amounts payable within one year | 42/48 | €1,220,534 | €1,758,347 | +€537,813 | +44.1% |
| Current portion of amounts payable after more than one year | 42 | €1,095,994 | €1,574,760 | +€478,765 | +43.7% |
| Financial debts | 43 | - | €35,830 | +€35,830 | |
| Credit institutions | 430/8 | - | €35,830 | +€35,830 | |
| Trade debts | 44 | €31,777 | €65,035 | +€33,258 | +105% |
| Suppliers | 440/4 | €31,777 | €65,035 | +€33,258 | +105% |
| Other amounts payable | 47/48 | €92,763 | €82,722 | -€10,041 | -10.8% |
| Accrued charges and deferred income | 492/3 | €106,512 | €109,851 | +€3,339 | +3.1% |
| Non-recurring operating income | 76A | €103,850 | €72,211 | -€31,639 | -30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €873,059 | €872,909 | -€150 | 0.0% |
| Other operating charges | 640/8 | €277,493 | €286,135 | +€8,642 | +3.1% |
| Non-recurring operating charges | 66A | - | €8,740 | +€8,740 | |
| Gross operating margin | 9900 | €1,320,369 | €1,279,660 | -€40,709 | -3.1% |
| Operating profit (loss) | 9901 | €169,817 | €111,877 | -€57,940 | -34.1% |
| Financial income | 75/76B | €21,412 | €92,780 | +€71,368 | +333% |
| Recurring financial income | 75 | €21,412 | €92,780 | +€71,368 | +333% |
| Financial charges | 65/66B | €352,374 | €460,293 | +€107,919 | +30.6% |
| Recurring financial charges | 65 | €352,374 | €460,293 | +€107,919 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | -€161,145 | -€255,636 | -€94,490 | -58.6% |
| Profit (loss) for the period | 9904 | -€161,145 | -€255,636 | -€94,490 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€161,145 | -€255,636 | -€94,490 | -58.6% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.