GRAVENSTEEN: what changed
What changed
GRAVENSTEEN
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
€50
2024 · €129,990-€129,940
Equity
€1.4m
2024 · €1.4m+€50
Cash
€49,437
2024 · €66,207-€16,770
Balance sheet total
€2.2m
2024 · €2.2m+€46,971
Largest movements
Assets
- Tangible fixed assets +€94,549
up €94,549 (+19.1%), from €493,882 to €588,432
of which Land and buildings: +€85,875
- Receivables within one year -€31,365
down €31,365 (-17.5%), from €178,759 to €147,394
of which Trade receivables: -€91,570
Equity and liabilities
- Trade debts +€158,965
up €158,965 (+28.0%), from €568,737 to €727,702
- Other debts -€100,000
down €100,000 (-95.2%), from €105,000 to €5,000
Income statement
- Other operating charges +€98,478
up €98,478 (+256%), from €38,412 to €136,889
- Gross operating margin -€68,780
down €68,780 (-7.6%), from €904,853 to €836,073
- Staff costs -€47,064
down €47,064 (-7.9%), from €594,173 to €547,108
- Financial charges +€41,550
up €41,550 (+146%), from €28,515 to €70,065
of which Non-recurring financial charges: +€50,452
- Taxes -€30,045
down €30,045, from €19,328 to -€10,717
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€129,990
Gross operating margin
-€68,780
Staff costs
+€47,064
Depreciation
+€1,385
Other operating charges
-€98,478
Other operating items
-€33
Financial income
+€407
Financial charges
-€41,550
Taxes
+€30,045
Result 2025
€50
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€172,776
Investment
-€189,546
Financing
€0
Cash 2024
€66,207
From operations (derived)
+€172,776
Net result for the year
+€50
Depreciation
+€94,440
Receivables within one year
+€31,365
Trade debts
+€158,965
Tax, wage and social debts
-€12,044
Other debts
-€100,000
Investment (derived)
-€189,546
Investment in fixed assets (net)
-€189,546
Cash 2025
€49,437
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,152,206 | €2,199,178 | +€46,971 | +2.2% |
| Fixed assets | 21/28 | €1,894,118 | €1,989,224 | +€95,107 | +5.0% |
| Tangible fixed assets | 22/27 | €493,882 | €588,432 | +€94,549 | +19.1% |
| Land and buildings | 22 | €379,336 | €465,211 | +€85,875 | +22.6% |
| Plant, machinery and equipment | 23 | €42,524 | €68,092 | +€25,568 | +60.1% |
| Furniture and vehicles | 24 | €72,023 | €55,129 | -€16,893 | -23.5% |
| Financial fixed assets | 28 | €1,400,235 | €1,400,793 | +€557 | 0.0% |
| Current assets | 29/58 | €258,089 | €209,953 | -€48,136 | -18.7% |
| Stocks and contracts in progress | 3 | €13,122 | €13,122 | = | 0.0% |
| Stocks | 30/36 | €13,122 | €13,122 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €178,759 | €147,394 | -€31,365 | -17.5% |
| Trade receivables | 40 | €107,251 | €15,682 | -€91,570 | -85.4% |
| Other amounts receivable | 41 | €71,508 | €131,712 | +€60,204 | +84.2% |
| Cash at bank and in hand | 54/58 | €66,207 | €49,437 | -€16,770 | -25.3% |
| Total equity and liabilities | 10/49 | €2,152,206 | €2,199,178 | +€46,971 | +2.2% |
| Equity | 10/15 | €1,383,797 | €1,383,847 | +€50 | 0.0% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €129,487 | €129,487 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,917 | €7,917 | = | 0.0% |
| Distributable reserves | 133 | €21,569 | €21,569 | = | 0.0% |
| Profit (loss) carried forward | 14 | €254,310 | €254,360 | +€50 | 0.0% |
| Amounts payable | 17/49 | €768,409 | €815,331 | +€46,921 | +6.1% |
| Amounts payable within one year | 42/48 | €768,409 | €815,331 | +€46,921 | +6.1% |
| Trade debts | 44 | €568,737 | €727,702 | +€158,965 | +28.0% |
| Suppliers | 440/4 | €568,737 | €727,702 | +€158,965 | +28.0% |
| Taxes, remuneration and social security | 45 | €94,672 | €82,628 | -€12,044 | -12.7% |
| Taxes | 450/3 | €32,832 | €16,141 | -€16,691 | -50.8% |
| Remuneration and social security | 454/9 | €61,840 | €66,488 | +€4,647 | +7.5% |
| Other amounts payable | 47/48 | €105,000 | €5,000 | -€100,000 | -95.2% |
| Remuneration, social security and pensions | 62 | €594,173 | €547,108 | -€47,064 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,824 | €94,440 | -€1,385 | -1.4% |
| Other operating charges | 640/8 | €38,412 | €136,889 | +€98,478 | +256% |
| Non-recurring operating charges | 66A | - | €33 | +€33 | |
| Gross operating margin | 9900 | €904,853 | €836,073 | -€68,780 | -7.6% |
| Operating profit (loss) | 9901 | €176,445 | €57,603 | -€118,841 | -67.4% |
| Financial income | 75/76B | €1,388 | €1,794 | +€407 | +29.3% |
| Recurring financial income | 75 | €1,388 | €1,794 | +€407 | +29.3% |
| Financial charges | 65/66B | €28,515 | €70,065 | +€41,550 | +146% |
| Recurring financial charges | 65 | €28,515 | €19,613 | -€8,902 | -31.2% |
| Non-recurring financial charges | 66B | - | €50,452 | +€50,452 | |
| Profit (loss) for the period before taxes | 9903 | €149,317 | -€10,667 | -€159,984 | |
| Income taxes | 67/77 | €19,328 | -€10,717 | -€30,045 | |
| Profit (loss) for the period | 9904 | €129,990 | €50 | -€129,940 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €129,990 | €50 | -€129,940 | -100.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.