Grant Properties: 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.
Grant Properties
Largest movements
- Tangible fixed assets +€136,057
up €136,057 (+540.2%), from €25,185 to €161,242
of which Land and buildings: +€145,240
- Cash -€16,842
down €16,842 (-61.5%), from €27,382 to €10,540
mainly Investment in fixed assets (net) (-€150,767) and Contributions, distributions and other (-€20,000)
- Receivables within one year +€8,196
up €8,196 (+9.5%), from €86,595 to €94,791
of which Other amounts receivable: +€6,578
- Debts after one year +€140,155
new in 2025: €140,155
- Profit (loss) carried forward +€23,737
up €23,737 (+373.7%), from €6,352 to €30,089
- Reserves -€20,000
down €20,000 (-27.1%), from €73,680 to €53,680
- Tax, wage and social debts -€18,986
down €18,986 (-62.6%), from €30,337 to €11,351
of which Taxes: -€21,014
- Other debts -€14,009
no longer reported in 2025 (was €14,009)
- Staff costs +€17,049
up €17,049 (+66.0%), from €25,814 to €42,863
- Gross operating margin -€13,882
down €13,882 (-12.8%), from €108,152 to €94,270
- Depreciation +€2,371
up €2,371 (+20.5%), from €11,539 to €13,910
- Financial charges +€1,092
up €1,092 (+244.0%), from €448 to €1,540
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 | €143,662 | €271,873 | +€128,211 | +89.2% |
| Fixed assets | 21/28 | €29,685 | €166,542 | +€136,857 | +461.0% |
| Tangible fixed assets | 22/27 | €25,185 | €161,242 | +€136,057 | +540.2% |
| Land and buildings | 22 | - | €145,240 | +€145,240 | |
| Plant, machinery and equipment | 23 | €9,221 | €6,411 | -€2,809 | -30.5% |
| Furniture and vehicles | 24 | €15,964 | €9,591 | -€6,374 | -39.9% |
| Financial fixed assets | 28 | €4,500 | €5,300 | +€800 | +17.8% |
| Current assets | 29/58 | €113,977 | €105,331 | -€8,646 | -7.6% |
| Amounts receivable within one year | 40/41 | €86,595 | €94,791 | +€8,196 | +9.5% |
| Trade receivables | 40 | €86,595 | €88,213 | +€1,618 | +1.9% |
| Other amounts receivable | 41 | - | €6,578 | +€6,578 | |
| Cash at bank and in hand | 54/58 | €27,382 | €10,540 | -€16,842 | -61.5% |
| Total equity and liabilities | 10/49 | €143,662 | €271,873 | +€128,211 | +89.2% |
| Equity | 10/15 | €86,232 | €89,969 | +€3,737 | +4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,680 | €53,680 | -€20,000 | -27.1% |
| Distributable reserves | 133 | €73,680 | €53,680 | -€20,000 | -27.1% |
| Profit (loss) carried forward | 14 | €6,352 | €30,089 | +€23,737 | +373.7% |
| Amounts payable | 17/49 | €57,430 | €181,904 | +€124,474 | +216.7% |
| Amounts payable after more than one year | 17 | - | €140,155 | +€140,155 | |
| Financial debts | 170/4 | - | €140,155 | +€140,155 | |
| Amounts payable within one year | 42/48 | €57,430 | €41,750 | -€15,680 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | - | €5,845 | +€5,845 | |
| Trade debts | 44 | €13,085 | €24,553 | +€11,469 | +87.7% |
| Suppliers | 440/4 | €13,085 | €24,553 | +€11,469 | +87.7% |
| Taxes, remuneration and social security | 45 | €30,337 | €11,351 | -€18,986 | -62.6% |
| Taxes | 450/3 | €26,842 | €5,828 | -€21,014 | -78.3% |
| Remuneration and social security | 454/9 | €3,495 | €5,523 | +€2,029 | +58.0% |
| Other amounts payable | 47/48 | €14,009 | - | -€14,009 | |
| Remuneration, social security and pensions | 62 | €25,814 | €42,863 | +€17,049 | +66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,539 | €13,910 | +€2,371 | +20.5% |
| Other operating charges | 640/8 | €5,105 | €4,522 | -€584 | -11.4% |
| Gross operating margin | 9900 | €108,152 | €94,270 | -€13,882 | -12.8% |
| Operating profit (loss) | 9901 | €65,694 | €32,975 | -€32,718 | -49.8% |
| Financial income | 75/76B | €221 | €1 | -€219 | -99.4% |
| Recurring financial income | 75 | €221 | €1 | -€219 | -99.4% |
| Financial charges | 65/66B | €448 | €1,540 | +€1,092 | +244.0% |
| Recurring financial charges | 65 | €448 | €1,540 | +€1,092 | +244.0% |
| Profit (loss) for the period before taxes | 9903 | €65,467 | €31,437 | -€34,030 | -52.0% |
| Income taxes | 67/77 | €7,248 | €7,700 | +€451 | +6.2% |
| Profit (loss) for the period | 9904 | €58,218 | €23,737 | -€34,481 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,218 | €23,737 | -€34,481 | -59.2% |
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.