IMMO GRAND SABLE: 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 GRAND SABLE
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
-€550,181
2024 · €255,661-€805,842
Equity
€2.9m
2024 · €3.5m-€550,181
Cash
€66,131
2024 · €1.2m-€1.1m
Balance sheet total
€8.3m
2024 · €9.5m-€1.2m
Largest movements
Assets
- Cash -€1.1m
down €1.1m (-94.3%), from €1.2m to €66,131
mainly Other debts (-€628,300) and Net result for the year (-€550,181)
Equity and liabilities
- Other debts -€628,300
down €628,300 (-10.7%), from €5.9m to €5.3m
- Profit (loss) carried forward -€550,181
down €550,181 (-25.1%), from -€2.2m to -€2.7m
Income statement
- Gross operating margin -€1.0m
down €1.0m, from €939,272 to -€62,714
- Other operating charges -€272,615
down €272,615 (-92.4%), from €295,031 to €22,416
- Financial charges +€122,198
up €122,198 (+28,161%), from €434 to €122,632
of which Financial charges: +€121,393
- Staff costs -€64,181
down €64,181 (-24.4%), from €263,515 to €199,334
- Write-downs +€15,800
new in 2025: €15,800
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
€255,661
Gross operating margin
-€1.0m
Staff costs
+€64,181
Depreciation
-€5,259
Write-downs
-€15,800
Other operating charges
+€272,615
Other operating items
-€358
Financial income
+€2,963
Financial charges
-€122,198
Result 2025
-€550,181
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
-€1.0m
Investment
-€44,764
Financing
€0
Cash 2024
€1.2m
From operations (derived)
-€1.0m
Net result for the year
-€550,181
Depreciation
+€129,890
Stocks and contracts
+€7,279
Receivables within one year
+€49,406
Deferred charges and accrued income
+€71
Trade debts
-€26,155
Tax, wage and social debts
-€35,325
Other debts
-€628,300
Accrued charges and deferred income
+€3,439
Investment (derived)
-€44,764
Investment in fixed assets (net)
-€44,764
Cash 2025
€66,131
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,512,483 | €8,275,960 | -€1.2m | -13.0% |
| Fixed assets | 21/28 | €8,144,458 | €8,059,332 | -€85,126 | -1.0% |
| Tangible fixed assets | 22/27 | €8,144,108 | €8,058,982 | -€85,126 | -1.0% |
| Land and buildings | 22 | €8,052,952 | €7,980,435 | -€72,516 | -0.9% |
| Plant, machinery and equipment | 23 | €40,732 | €35,693 | -€5,038 | -12.4% |
| Furniture and vehicles | 24 | €20,503 | €16,820 | -€3,683 | -18.0% |
| Other tangible fixed assets | 26 | €29,922 | €26,034 | -€3,888 | -13.0% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €1,368,024 | €216,627 | -€1.2m | -84.2% |
| Stocks and contracts in progress | 3 | €12,419 | €5,140 | -€7,279 | -58.6% |
| Stocks | 30/36 | €12,419 | €5,140 | -€7,279 | -58.6% |
| Amounts receivable within one year | 40/41 | €178,609 | €129,203 | -€49,406 | -27.7% |
| Trade receivables | 40 | €23,022 | €12,550 | -€10,471 | -45.5% |
| Other amounts receivable | 41 | €155,587 | €116,653 | -€38,934 | -25.0% |
| Cash at bank and in hand | 54/58 | €1,160,773 | €66,131 | -€1.1m | -94.3% |
| Deferred charges and accrued income | 490/1 | €16,224 | €16,153 | -€71 | -0.4% |
| Total equity and liabilities | 10/49 | €9,512,483 | €8,275,960 | -€1.2m | -13.0% |
| Equity | 10/15 | €3,483,497 | €2,933,316 | -€550,181 | -15.8% |
| Contributions | 10/11 | €5,157,000 | €5,157,000 | = | 0.0% |
| Capital | 10 | €5,157,000 | €5,157,000 | = | 0.0% |
| Issued capital | 100 | €5,157,000 | €5,157,000 | = | 0.0% |
| Reserves | 13 | €515,700 | €515,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €515,700 | €515,700 | = | 0.0% |
| Legal reserve | 130 | €515,700 | €515,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,189,203 | -€2,739,384 | -€550,181 | -25.1% |
| Amounts payable | 17/49 | €6,028,986 | €5,342,644 | -€686,342 | -11.4% |
| Amounts payable within one year | 42/48 | €6,028,986 | €5,339,205 | -€689,781 | -11.4% |
| Trade debts | 44 | €82,770 | €56,615 | -€26,155 | -31.6% |
| Suppliers | 440/4 | €82,770 | €56,615 | -€26,155 | -31.6% |
| Taxes, remuneration and social security | 45 | €54,142 | €18,817 | -€35,325 | -65.2% |
| Taxes | 450/3 | €36,306 | €2,102 | -€34,204 | -94.2% |
| Remuneration and social security | 454/9 | €17,836 | €16,715 | -€1,121 | -6.3% |
| Other amounts payable | 47/48 | €5,892,074 | €5,263,774 | -€628,300 | -10.7% |
| Accrued charges and deferred income | 492/3 | - | €3,439 | +€3,439 | |
| Non-recurring operating income | 76A | - | €229 | +€229 | |
| Remuneration, social security and pensions | 62 | €263,515 | €199,334 | -€64,181 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,631 | €129,890 | +€5,259 | +4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,800 | +€15,800 | |
| Other operating charges | 640/8 | €295,031 | €22,416 | -€272,615 | -92.4% |
| Non-recurring operating charges | 66A | - | €358 | +€358 | |
| Gross operating margin | 9900 | €939,272 | -€62,714 | -€1.0m | |
| Operating profit (loss) | 9901 | €256,095 | -€430,512 | -€686,607 | |
| Financial income | 75/76B | €0 | €2,963 | +€2,963 | |
| Recurring financial income | 75 | €0 | €2,537 | +€2,537 | |
| Non-recurring financial income | 76B | - | €426 | +€426 | |
| Financial charges | 65/66B | €434 | €122,632 | +€122,198 | +28,161% |
| Recurring financial charges | 65 | €434 | €121,827 | +€121,393 | +27,976% |
| Non-recurring financial charges | 66B | - | €805 | +€805 | |
| Profit (loss) for the period before taxes | 9903 | €255,661 | -€550,181 | -€805,842 | |
| Profit (loss) for the period | 9904 | €255,661 | -€550,181 | -€805,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €255,661 | -€550,181 | -€805,842 |
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 25 October 2026 via checked.be.