IMMO GRAANMARKT: 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
IMMO GRAANMARKT
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€424,611
2024 · €179,456+€245,155
Equity
€2.6m
2024 · €2.2m+€424,611
Cash
€277,972
2024 · €221,436+€56,536
Balance sheet total
€14.5m
2024 · €14.5m+€75,733
Largest movements
Assets
- Tangible fixed assets -€516,202
down €516,202 (-4.0%), from €12.8m to €12.2m
of which Land and buildings: -€514,693
- Receivables within one year +€499,204
up €499,204 (+780%), from €64,012 to €563,216
of which Trade receivables: +€498,957
Equity and liabilities
- Profit (loss) carried forward +€424,611
up €424,611 (+331%), from €128,344 to €552,955
- Debts after one year -€423,583
down €423,583 (-3.6%), from €11.6m to €11.2m
of which Financial debts: -€423,533
Income statement
- Financial income +€306,391
up €306,391 (+4,867%), from €6,295 to €312,686
- Gross operating margin +€294,612
up €294,612 (+37.5%), from €785,177 to €1.1m
- Financial charges -€135,958
down €135,958 (-28.1%), from €483,243 to €347,285
- Other operating charges -€11,242
down €11,242 (-22.2%), from €50,682 to €39,440
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
€179,456
Gross operating margin
+€294,612
Staff costs
+€172
Depreciation
-€4,518
Other operating charges
+€11,242
Financial income
+€306,391
Financial charges
+€135,958
Deferred taxes and other
-€498,702
Result 2025
€424,611
raises the resultlowers the resultnot broken down further in the accounts
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
+€544,404
Investment
-€64,937
Financing
-€422,931
Cash 2024
€221,436
From operations (derived)
+€544,404
Net result for the year
+€424,611
Depreciation
+€581,139
Receivables within one year
-€499,204
Deferred charges and accrued income
-€36,195
Trade debts
-€5,991
Tax, wage and social debts
+€88,531
Other debts
+€2,618
Accrued charges and deferred income
-€11,105
Investment (derived)
-€64,937
Investment in fixed assets (net)
-€64,937
Financing
-€422,931
Debts after one year
-€423,583
Current portion of long-term debt
+€652
Cash 2025
€277,972
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,452,868 | €14,528,601 | +€75,733 | +0.5% |
| Fixed assets | 21/28 | €14,021,719 | €13,505,518 | -€516,202 | -3.7% |
| Tangible fixed assets | 22/27 | €12,762,923 | €12,246,721 | -€516,202 | -4.0% |
| Land and buildings | 22 | €12,752,359 | €12,237,667 | -€514,693 | -4.0% |
| Furniture and vehicles | 24 | €10,563 | €9,054 | -€1,509 | -14.3% |
| Financial fixed assets | 28 | €1,258,797 | €1,258,797 | = | 0.0% |
| Current assets | 29/58 | €431,149 | €1,023,083 | +€591,934 | +137% |
| Amounts receivable after more than one year | 29 | €8,000 | €8,000 | = | 0.0% |
| Other amounts receivable | 291 | €8,000 | €8,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €116,513 | €116,513 | = | 0.0% |
| Stocks | 30/36 | €116,513 | €116,513 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €64,012 | €563,216 | +€499,204 | +780% |
| Trade receivables | 40 | €41,246 | €540,203 | +€498,957 | +1,210% |
| Other amounts receivable | 41 | €22,766 | €23,013 | +€246 | +1.1% |
| Cash at bank and in hand | 54/58 | €221,436 | €277,972 | +€56,536 | +25.5% |
| Deferred charges and accrued income | 490/1 | €21,187 | €57,382 | +€36,195 | +171% |
| Total equity and liabilities | 10/49 | €14,452,868 | €14,528,601 | +€75,733 | +0.5% |
| Equity | 10/15 | €2,178,114 | €2,602,725 | +€424,611 | +19.5% |
| Contributions | 10/11 | €191,500 | €191,500 | = | 0.0% |
| Revaluation surpluses | 12 | €1,132,300 | €1,045,200 | -€87,100 | -7.7% |
| Reserves | 13 | €725,970 | €813,070 | +€87,100 | +12.0% |
| Distributable reserves | 133 | €725,970 | €813,070 | +€87,100 | +12.0% |
| Profit (loss) carried forward | 14 | €128,344 | €552,955 | +€424,611 | +331% |
| Amounts payable | 17/49 | €12,274,754 | €11,925,876 | -€348,878 | -2.8% |
| Amounts payable after more than one year | 17 | €11,619,897 | €11,196,314 | -€423,583 | -3.6% |
| Financial debts | 170/4 | €11,615,095 | €11,191,562 | -€423,533 | -3.6% |
| Other amounts payable | 178/9 | €4,803 | €4,753 | -€50 | -1.0% |
| Amounts payable within one year | 42/48 | €627,085 | €712,895 | +€85,810 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €422,881 | €423,533 | +€652 | +0.2% |
| Trade debts | 44 | €42,258 | €36,268 | -€5,991 | -14.2% |
| Suppliers | 440/4 | €42,258 | €36,268 | -€5,991 | -14.2% |
| Taxes, remuneration and social security | 45 | - | €88,531 | +€88,531 | |
| Taxes | 450/3 | - | €88,531 | +€88,531 | |
| Other amounts payable | 47/48 | €161,946 | €164,563 | +€2,618 | +1.6% |
| Accrued charges and deferred income | 492/3 | €27,772 | €16,667 | -€11,105 | -40.0% |
| Remuneration, social security and pensions | 62 | €172 | - | -€172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576,621 | €581,139 | +€4,518 | +0.8% |
| Other operating charges | 640/8 | €50,682 | €39,440 | -€11,242 | -22.2% |
| Gross operating margin | 9900 | €785,177 | €1,079,788 | +€294,612 | +37.5% |
| Operating profit (loss) | 9901 | €157,702 | €459,209 | +€301,508 | +191% |
| Financial income | 75/76B | €6,295 | €312,686 | +€306,391 | +4,867% |
| Recurring financial income | 75 | €6,295 | €312,686 | +€306,391 | +4,867% |
| Financial charges | 65/66B | €483,243 | €347,285 | -€135,958 | -28.1% |
| Recurring financial charges | 65 | €483,243 | €347,285 | -€135,958 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€319,246 | €424,611 | +€743,857 | |
| Transfer from deferred taxes | 780 | €498,702 | - | -€498,702 | |
| Profit (loss) for the period | 9904 | €179,456 | €424,611 | +€245,155 | +137% |
| Transfer from tax-exempt reserves | 789 | €1,496,106 | - | -€1.5m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,675,562 | €424,611 | -€1.3m | -74.7% |
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 17 October 2026 via checked.be.