GRANIPIERRE 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.
GRANIPIERRE IMMO
Largest movements
- Receivables within one year -€22,410
down €22,410 (-35.6%), from €62,904 to €40,494
of which Other amounts receivable: -€16,427
- Cash -€8,617
down €8,617 (-52.4%), from €16,432 to €7,815
mainly Investment in fixed assets (net) (-€53,473) and Other debts (-€27,876)
- Tangible fixed assets -€7,300
down €7,300 (-1.2%), from €619,840 to €612,540
of which Land and buildings: -€36,988
- Other debts -€27,876
down €27,876 (-7.9%), from €350,972 to €323,096
- Depreciation +€5,610
up €5,610 (+10.2%), from €55,163 to €60,773
- Gross operating margin -€1,043
down €1,043 (-1.7%), from €63,067 to €62,023
- Other operating charges -€731
down €731 (-57.3%), from €1,275 to €544
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 | €702,042 | €663,800 | -€38,242 | -5.4% |
| Fixed assets | 21/28 | €622,705 | €615,405 | -€7,300 | -1.2% |
| Tangible fixed assets | 22/27 | €619,840 | €612,540 | -€7,300 | -1.2% |
| Land and buildings | 22 | €610,093 | €573,106 | -€36,988 | -6.1% |
| Plant, machinery and equipment | 23 | €1,136 | €2,597 | +€1,462 | +129% |
| Furniture and vehicles | 24 | €8,611 | €36,837 | +€28,226 | +328% |
| Financial fixed assets | 28 | €2,865 | €2,865 | = | 0.0% |
| Current assets | 29/58 | €79,336 | €48,395 | -€30,942 | -39.0% |
| Amounts receivable within one year | 40/41 | €62,904 | €40,494 | -€22,410 | -35.6% |
| Trade receivables | 40 | €32,627 | €26,644 | -€5,983 | -18.3% |
| Other amounts receivable | 41 | €30,277 | €13,850 | -€16,427 | -54.3% |
| Cash at bank and in hand | 54/58 | €16,432 | €7,815 | -€8,617 | -52.4% |
| Deferred charges and accrued income | 490/1 | - | €85 | +€85 | |
| Total equity and liabilities | 10/49 | €702,042 | €663,800 | -€38,242 | -5.4% |
| Equity | 10/15 | -€14,239 | -€20,018 | -€5,778 | -40.6% |
| Contributions | 10/11 | €27,278 | €27,278 | = | 0.0% |
| Reserves | 13 | €23,970 | €23,970 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,297 | €9,297 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,728 | €2,728 | = | 0.0% |
| Other | 1319 | €6,569 | €6,569 | = | 0.0% |
| Distributable reserves | 133 | €14,673 | €14,673 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€65,488 | -€71,266 | -€5,778 | -8.8% |
| Amounts payable | 17/49 | €716,281 | €683,818 | -€32,463 | -4.5% |
| Amounts payable after more than one year | 17 | €293,099 | €289,556 | -€3,542 | -1.2% |
| Financial debts | 170/4 | €236,863 | €223,410 | -€13,453 | -5.7% |
| Other amounts payable | 178/9 | €56,235 | €66,146 | +€9,911 | +17.6% |
| Amounts payable within one year | 42/48 | €423,182 | €394,262 | -€28,921 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €31,966 | €37,977 | +€6,011 | +18.8% |
| Trade debts | 44 | €1,264 | - | -€1,264 | |
| Suppliers | 440/4 | €1,264 | - | -€1,264 | |
| Taxes, remuneration and social security | 45 | €38,981 | €33,188 | -€5,792 | -14.9% |
| Taxes | 450/3 | €38,981 | €33,188 | -€5,792 | -14.9% |
| Other amounts payable | 47/48 | €350,972 | €323,096 | -€27,876 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,163 | €60,773 | +€5,610 | +10.2% |
| Other operating charges | 640/8 | €1,275 | €544 | -€731 | -57.3% |
| Gross operating margin | 9900 | €63,067 | €62,023 | -€1,043 | -1.7% |
| Operating profit (loss) | 9901 | €6,629 | €706 | -€5,922 | -89.3% |
| Financial income | 75/76B | €91 | €40 | -€51 | -56.1% |
| Recurring financial income | 75 | €91 | €40 | -€51 | -56.1% |
| Financial charges | 65/66B | €6,478 | €6,517 | +€39 | +0.6% |
| Recurring financial charges | 65 | €6,478 | €6,517 | +€39 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €241 | -€5,771 | -€6,012 | |
| Income taxes | 67/77 | - | €7 | +€7 | |
| Profit (loss) for the period | 9904 | €241 | -€5,778 | -€6,020 | |
| Profit (loss) for the period to be appropriated | 9905 | €241 | -€5,778 | -€6,020 |
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 21 October 2026 via checked.be.