GR 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.
GR IMMO
Largest movements
- Receivables after one year -€190,000
no longer reported in 2025 (was €190,000)
- Tangible fixed assets +€92,146
up €92,146 (+99.4%), from €92,674 to €184,820
of which Land and buildings: +€95,989
- Cash +€92,144
up €92,144 (+541%), from €17,033 to €109,176
mainly Receivables after one year (+€190,000) and Other debts (+€17,054)
- Receivables within one year +€7,438
up €7,438 (+89.3%), from €8,329 to €15,768
of which Trade receivables: +€8,365
- Other debts +€17,054
up €17,054 (+1,960%), from €870 to €17,924
- Reserves -€16,074
down €16,074 (-25.9%), from €62,074 to €46,000
- Trade debts +€10,778
up €10,778 (+342,167%), from €3 to €10,781
- Debts after one year -€6,115
down €6,115 (-79.9%), from €7,655 to €1,539
- Current portion of long-term debt -€3,237
down €3,237 (-34.6%), from €9,352 to €6,115
- Financial income -€6,382
down €6,382 (-67.7%), from €9,428 to €3,046
- Gross operating margin -€2,975
down €2,975 (-8.7%), from €34,033 to €31,058
- Taxes -€2,937
down €2,937 (-86.3%), from €3,401 to €465
- Other operating charges -€1,976
down €1,976 (-42.0%), from €4,706 to €2,730
- Staff costs +€938
up €938 (+7.0%), from €13,468 to €14,406
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 | €308,083 | €309,812 | +€1,730 | +0.6% |
| Fixed assets | 21/28 | €92,674 | €184,820 | +€92,146 | +99.4% |
| Tangible fixed assets | 22/27 | €92,674 | €184,820 | +€92,146 | +99.4% |
| Land and buildings | 22 | €86,070 | €182,059 | +€95,989 | +112% |
| Plant, machinery and equipment | 23 | €5,686 | €2,761 | -€2,924 | -51.4% |
| Furniture and vehicles | 24 | €918 | - | -€918 | |
| Current assets | 29/58 | €215,409 | €124,992 | -€90,417 | -42.0% |
| Amounts receivable after more than one year | 29 | €190,000 | - | -€190,000 | |
| Other amounts receivable | 291 | €190,000 | - | -€190,000 | |
| Amounts receivable within one year | 40/41 | €8,329 | €15,768 | +€7,438 | +89.3% |
| Trade receivables | 40 | €1,205 | €9,570 | +€8,365 | +694% |
| Other amounts receivable | 41 | €7,124 | €6,198 | -€927 | -13.0% |
| Cash at bank and in hand | 54/58 | €17,033 | €109,176 | +€92,144 | +541% |
| Deferred charges and accrued income | 490/1 | €47 | €48 | +€1 | +3.0% |
| Total equity and liabilities | 10/49 | €308,083 | €309,812 | +€1,730 | +0.6% |
| Equity | 10/15 | €286,920 | €271,490 | -€15,430 | -5.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €62,074 | €46,000 | -€16,074 | -25.9% |
| Distributable reserves | 133 | €62,074 | €46,000 | -€16,074 | -25.9% |
| Profit (loss) carried forward | 14 | €124,846 | €125,490 | +€644 | +0.5% |
| Amounts payable | 17/49 | €21,163 | €38,323 | +€17,160 | +81.1% |
| Amounts payable after more than one year | 17 | €7,655 | €1,539 | -€6,115 | -79.9% |
| Financial debts | 170/4 | €7,655 | €1,539 | -€6,115 | -79.9% |
| Amounts payable within one year | 42/48 | €13,508 | €36,783 | +€23,275 | +172% |
| Current portion of amounts payable after more than one year | 42 | €9,352 | €6,115 | -€3,237 | -34.6% |
| Trade debts | 44 | €3 | €10,781 | +€10,778 | +342,167% |
| Suppliers | 440/4 | €3 | €10,781 | +€10,778 | +342,167% |
| Taxes, remuneration and social security | 45 | €3,283 | €1,963 | -€1,320 | -40.2% |
| Taxes | 450/3 | €1,012 | - | -€1,012 | |
| Remuneration and social security | 454/9 | €2,270 | €1,963 | -€308 | -13.5% |
| Other amounts payable | 47/48 | €870 | €17,924 | +€17,054 | +1,960% |
| Remuneration, social security and pensions | 62 | €13,468 | €14,406 | +€938 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,101 | €13,578 | +€477 | +3.6% |
| Other operating charges | 640/8 | €4,706 | €2,730 | -€1,976 | -42.0% |
| Gross operating margin | 9900 | €34,033 | €31,058 | -€2,975 | -8.7% |
| Operating profit (loss) | 9901 | €2,757 | €343 | -€2,414 | -87.6% |
| Financial income | 75/76B | €9,428 | €3,046 | -€6,382 | -67.7% |
| Recurring financial income | 75 | €9,428 | €3,046 | -€6,382 | -67.7% |
| Financial charges | 65/66B | €944 | €431 | -€513 | -54.3% |
| Recurring financial charges | 65 | €944 | €431 | -€513 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | €11,241 | €2,958 | -€8,283 | -73.7% |
| Income taxes | 67/77 | €3,401 | €465 | -€2,937 | -86.3% |
| Profit (loss) for the period | 9904 | €7,840 | €2,494 | -€5,346 | -68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,840 | €2,494 | -€5,346 | -68.2% |
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 25 October 2026 via checked.be.