GR INVEST: 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
GR INVEST
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3,234
2024 · -€2,900+€6,134
Equity
€6,833
2024 · €3,599+€3,234
Cash
€33,557
2024 · €12,000+€21,557
Balance sheet total
€2.8m
2024 · €2.9m-€183,526
Largest movements
Assets
- Tangible fixed assets -€190,328
down €190,328 (-6.5%), from €2.9m to €2.7m
of which Leasing and similar rights: -€211,851
Equity and liabilities
- Debts after one year -€192,574
down €192,574 (-9.0%), from €2.2m to €2.0m
Income statement
- Taxes -€9,856
no longer reported in 2025 (was €9,856)
- Financial charges +€5,854
up €5,854 (+12.9%), from €45,525 to €51,379
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.
Result 2024
-€2,900
Gross operating margin
+€2,838
Depreciation
-€117
Other operating charges
-€589
Financial income
+€0
Financial charges
-€5,854
Taxes
+€9,856
Result 2025
€3,234
raises the resultlowers the result
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.
From operations
+€236,844
Investment
-€26,207
Financing
-€189,080
Cash 2024
€12,000
From operations (derived)
+€236,844
Net result for the year
+€3,234
Depreciation
+€216,534
Receivables within one year
+€4,067
Deferred charges and accrued income
+€10,689
Tax, wage and social debts
+€2,320
Investment (derived)
-€26,207
Investment in fixed assets (net)
-€26,207
Financing
-€189,080
Debts after one year
-€192,574
Current portion of long-term debt
+€3,494
Cash 2025
€33,557
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,947,838 | €2,764,312 | -€183,526 | -6.2% |
| Fixed assets | 21/28 | €2,921,082 | €2,730,755 | -€190,328 | -6.5% |
| Tangible fixed assets | 22/27 | €2,921,082 | €2,730,755 | -€190,328 | -6.5% |
| Land and buildings | 22 | €91,257 | €117,464 | +€26,207 | +28.7% |
| Plant, machinery and equipment | 23 | €10,448 | €8,768 | -€1,680 | -16.1% |
| Furniture and vehicles | 24 | €834 | €346 | -€489 | -58.6% |
| Leasing and similar rights | 25 | €2,753,155 | €2,541,304 | -€211,851 | -7.7% |
| Other tangible fixed assets | 26 | €65,388 | €62,873 | -€2,515 | -3.8% |
| Current assets | 29/58 | €26,756 | €33,557 | +€6,802 | +25.4% |
| Amounts receivable within one year | 40/41 | €4,067 | - | -€4,067 | |
| Other amounts receivable | 41 | €4,067 | - | -€4,067 | |
| Cash at bank and in hand | 54/58 | €12,000 | €33,557 | +€21,557 | +180% |
| Deferred charges and accrued income | 490/1 | €10,689 | - | -€10,689 | |
| Total equity and liabilities | 10/49 | €2,947,838 | €2,764,312 | -€183,526 | -6.2% |
| Equity | 10/15 | €3,599 | €6,833 | +€3,234 | +89.9% |
| Contributions | 10/11 | €2,750 | €2,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €849 | €4,083 | +€3,234 | +381% |
| Amounts payable | 17/49 | €2,944,239 | €2,757,479 | -€186,760 | -6.3% |
| Amounts payable after more than one year | 17 | €2,151,433 | €1,958,859 | -€192,574 | -9.0% |
| Financial debts | 170/4 | €2,151,433 | €1,958,859 | -€192,574 | -9.0% |
| Amounts payable within one year | 42/48 | €792,806 | €798,620 | +€5,814 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €189,080 | €192,574 | +€3,494 | +1.8% |
| Taxes, remuneration and social security | 45 | - | €2,320 | +€2,320 | |
| Taxes | 450/3 | - | €2,320 | +€2,320 | |
| Other amounts payable | 47/48 | €603,726 | €603,726 | = | 0.0% |
| Non-recurring operating income | 76A | €26,207 | €26,207 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €216,417 | €216,534 | +€117 | +0.1% |
| Other operating charges | 640/8 | €18,787 | €19,375 | +€589 | +3.1% |
| Gross operating margin | 9900 | €287,684 | €290,522 | +€2,838 | +1.0% |
| Operating profit (loss) | 9901 | €52,481 | €54,613 | +€2,132 | +4.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €45,525 | €51,379 | +€5,854 | +12.9% |
| Recurring financial charges | 65 | €45,525 | €51,379 | +€5,854 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €6,956 | €3,234 | -€3,721 | -53.5% |
| Income taxes | 67/77 | €9,856 | - | -€9,856 | |
| Profit (loss) for the period | 9904 | -€2,900 | €3,234 | +€6,134 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,900 | €3,234 | +€6,134 |
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 31 October 2026 via checked.be.