IMMO - ZENOBE GRAMME: 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.
IMMO - ZENOBE GRAMME
Largest movements
- Tangible fixed assets -€964,611
down €964,611 (-11.6%), from €8.3m to €7.4m
- Cash +€777,847
up €777,847 (+120%), from €647,038 to €1.4m
- Current portion of long-term debt -€820,000
down €820,000 (-56.9%), from €1.4m to €620,000
- Debts after one year +€376,739
up €376,739 (+6.0%), from €6.3m to €6.7m
of which Financial debts: +€620,000
- Other debts +€153,232
up €153,232 (+14.2%), from €1.1m to €1.2m
- Services and other goods -€139,598
down €139,598 (-32.5%), from €429,576 to €289,978
- Depreciation +€95,936
up €95,936 (+10.2%), from €942,520 to €1.0m
- Financial charges +€48,088
up €48,088 (+4.9%), from €985,528 to €1.0m
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,052,014 | €8,824,921 | -€227,093 | -2.5% |
| Fixed assets | 21/28 | €8,316,465 | €7,351,853 | -€964,611 | -11.6% |
| Tangible fixed assets | 22/27 | €8,316,465 | €7,351,853 | -€964,611 | -11.6% |
| Land and buildings | 22 | €8,316,465 | €7,351,853 | -€964,611 | -11.6% |
| Current assets | 29/58 | €735,549 | €1,473,068 | +€737,519 | +100% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €56,266 | €29,020 | -€27,246 | -48.4% |
| Trade receivables | 40 | €52,111 | €24,865 | -€27,246 | -52.3% |
| Other amounts receivable | 41 | €4,155 | €4,155 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €647,038 | €1,424,886 | +€777,847 | +120% |
| Deferred charges and accrued income | 490/1 | €32,245 | €19,163 | -€13,082 | -40.6% |
| Total equity and liabilities | 10/49 | €9,052,014 | €8,824,921 | -€227,093 | -2.5% |
| Equity | 10/15 | €76,393 | €76,393 | = | 0.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €206,357 | €147,453 | -€58,904 | -28.5% |
| Reserves | 13 | €1,246,811 | €1,305,716 | +€58,904 | +4.7% |
| Distributable reserves | 133 | €1,246,811 | €1,305,716 | +€58,904 | +4.7% |
| Profit (loss) carried forward | 14 | -€1,438,748 | -€1,438,748 | = | 0.0% |
| Amounts payable | 17/49 | €8,975,621 | €8,748,528 | -€227,093 | -2.5% |
| Amounts payable after more than one year | 17 | €6,279,539 | €6,656,278 | +€376,739 | +6.0% |
| Financial debts | 170/4 | €0 | €620,000 | +€620,000 | |
| Credit institutions | 173 | €0 | €620,000 | +€620,000 | |
| Other amounts payable | 178/9 | €6,279,539 | €6,036,278 | -€243,261 | -3.9% |
| Amounts payable within one year | 42/48 | €2,696,082 | €2,008,374 | -€687,708 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €1,440,000 | €620,000 | -€820,000 | -56.9% |
| Trade debts | 44 | €175,176 | €144,175 | -€31,000 | -17.7% |
| Suppliers | 440/4 | €175,176 | €144,175 | -€31,000 | -17.7% |
| Taxes, remuneration and social security | 45 | - | €10,061 | +€10,061 | |
| Taxes | 450/3 | - | €10,061 | +€10,061 | |
| Other amounts payable | 47/48 | €1,080,906 | €1,234,138 | +€153,232 | +14.2% |
| Accrued charges and deferred income | 492/3 | €0 | €83,876 | +€83,876 | |
| Operating income | 70/76A | €2,682,492 | €2,700,544 | +€18,052 | +0.7% |
| Turnover | 70 | €2,360,735 | €2,361,458 | +€723 | 0.0% |
| Other operating income | 74 | €321,757 | €339,085 | +€17,329 | +5.4% |
| Operating charges | 60/66A | €1,643,779 | €1,606,406 | -€37,373 | -2.3% |
| Services and other goods | 61 | €429,576 | €289,978 | -€139,598 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €942,520 | €1,038,456 | +€95,936 | +10.2% |
| Other operating charges | 640/8 | €271,683 | €277,972 | +€6,289 | +2.3% |
| Operating profit (loss) | 9901 | €1,038,713 | €1,094,138 | +€55,425 | +5.3% |
| Financial income | 75/76B | €14,509 | €7,001 | -€7,509 | -51.8% |
| Recurring financial income | 75 | €14,509 | €7,001 | -€7,509 | -51.8% |
| Income from current assets | 751 | €14,498 | €7,001 | -€7,497 | -51.7% |
| Other financial income | 752/9 | €12 | €0 | -€12 | -100% |
| Financial charges | 65/66B | €985,528 | €1,033,616 | +€48,088 | +4.9% |
| Recurring financial charges | 65 | €985,528 | €1,033,616 | +€48,088 | +4.9% |
| Debt charges | 650 | €973,277 | €1,016,602 | +€43,325 | +4.5% |
| Other financial charges | 652/9 | €12,251 | €17,014 | +€4,763 | +38.9% |
| Profit (loss) for the period before taxes | 9903 | €67,694 | €67,523 | -€172 | -0.3% |
| Income taxes | 67/77 | €67,694 | €67,523 | -€172 | -0.3% |
| Taxes | 670/3 | €67,694 | €67,523 | -€172 | -0.3% |
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 26 October 2026 via checked.be.