CBRE GWS Belgium: 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.
What changed
CBRE GWS Belgium
NACE 68.321, Property management for co-owned buildings (syndics)
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€65,288
2023 · €362,962-€297,675
Equity
€5.4m
2023 · €5.3m+€65,288
Cash
€2.6m
2023 · €4.9m-€2.3m
Balance sheet total
€41.8m
2023 · €40.2m+€1.6m
Largest movements
Assets
- Receivables within one year +€4.0m
up €4.0m (+11.6%), from €34.3m to €38.3m
of which Trade receivables: +€2.8m
- Cash -€2.3m
down €2.3m (-46.3%), from €4.9m to €2.6m
mainly Receivables within one year (-€4.0m) and Advances received (-€2.5m)
Equity and liabilities
- Trade debts +€2.8m
up €2.8m (+13.8%), from €20.1m to €22.9m
- Accrued charges and deferred income +€2.6m
up €2.6m (+367.9%), from €706,205 to €3.3m
- Advances received -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Tax, wage and social debts -€1.1m
down €1.1m (-15.1%), from €7.1m to €6.0m
of which Remuneration and social security: -€668,511
- Other debts -€966,423
down €966,423 (-100.0%), from €966,423 to €0
Income statement
- Provisions +€6.8m
up €6.8m, from -€6.0m to €870,658
- Staff costs -€5.0m
down €5.0m (-13.6%), from €36.5m to €31.5m
- Services and other goods -€4.5m
down €4.5m (-53.9%), from €8.3m to €3.8m
- Other operating income -€2.7m
down €2.7m (-100.0%), from €2.7m to €0
From the 2023 result to the 2024 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 2023
€362,962
Turnover
+€537,136
Other operating income
-€2.7m
Goods and materials
-€974,752
Services and other goods
+€4.5m
Staff costs
+€5.0m
Depreciation
-€6,406
Write-downs
+€173,368
Provisions
-€6.8m
Other operating charges
-€34,419
Other operating items
+€345,139
Financial income
-€11,183
Financial charges
-€180,336
Taxes
-€46,595
Result 2024
€65,288
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€2.0m
Investment
-€14,283
Financing
-€239,818
Cash 2023
€4.9m
From operations (derived)
-€2.0m
Net result for the year
+€65,288
Depreciation
+€139,898
Receivables within one year
-€4.0m
Deferred charges and accrued income
+€36,295
Provisions
+€870,658
Trade debts
+€2.8m
Tax, wage and social debts
-€1.1m
Advances received
-€2.5m
Other debts
-€966,423
Accrued charges and deferred income
+€2.6m
Investment (derived)
-€14,283
Investment in fixed assets (net)
-€14,283
Financing
-€239,818
Short-term financial debts
-€239,818
Cash 2024
€2.6m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,205,278 | €41,769,164 | +€1.6m | +3.9% |
| Fixed assets | 21/28 | €702,040 | €576,425 | -€125,615 | -17.9% |
| Tangible fixed assets | 22/27 | €702,040 | €576,425 | -€125,615 | -17.9% |
| Furniture and vehicles | 24 | €137,461 | €57,360 | -€80,101 | -58.3% |
| Other tangible fixed assets | 26 | €554,676 | €519,066 | -€35,610 | -6.4% |
| Assets under construction and advance payments | 27 | €9,903 | €0 | -€9,903 | -100.0% |
| Current assets | 29/58 | €39,503,238 | €41,192,739 | +€1.7m | +4.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €34,323,110 | €38,299,711 | +€4.0m | +11.6% |
| Trade receivables | 40 | €33,001,478 | €35,849,155 | +€2.8m | +8.6% |
| Other amounts receivable | 41 | €1,321,632 | €2,450,555 | +€1.1m | +85.4% |
| Cash at bank and in hand | 54/58 | €4,860,293 | €2,609,488 | -€2.3m | -46.3% |
| Deferred charges and accrued income | 490/1 | €319,835 | €283,540 | -€36,295 | -11.3% |
| Total equity and liabilities | 10/49 | €40,205,278 | €41,769,164 | +€1.6m | +3.9% |
| Equity | 10/15 | €5,338,174 | €5,403,461 | +€65,288 | +1.2% |
| Contributions | 10/11 | €4,563,974 | €4,563,974 | = | 0.0% |
| Capital | 10 | €4,563,974 | €4,563,974 | = | 0.0% |
| Issued capital | 100 | €4,563,974 | €4,563,974 | = | 0.0% |
| Reserves | 13 | €170,551 | €173,815 | +€3,264 | +1.9% |
| Non-distributable reserves | 130/1 | €170,551 | €173,815 | +€3,264 | +1.9% |
| Legal reserve | 130 | €170,551 | €173,815 | +€3,264 | +1.9% |
| Profit (loss) carried forward | 14 | €603,649 | €665,672 | +€62,023 | +10.3% |
| Provisions and deferred taxes | 16 | €0 | €870,658 | +€870,658 | |
| Provisions for liabilities and charges | 160/5 | €0 | €870,658 | +€870,658 | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | €870,658 | +€870,658 | |
| Amounts payable | 17/49 | €34,867,104 | €35,495,044 | +€627,940 | +1.8% |
| Amounts payable within one year | 42/48 | €34,160,899 | €32,190,673 | -€2.0m | -5.8% |
| Financial debts | 43 | €3,530,697 | €3,290,878 | -€239,818 | -6.8% |
| Other loans | 439 | €3,530,697 | €3,290,878 | -€239,818 | -6.8% |
| Trade debts | 44 | €20,129,762 | €22,912,449 | +€2.8m | +13.8% |
| Suppliers | 440/4 | €20,129,762 | €22,912,449 | +€2.8m | +13.8% |
| Advances received on contracts in progress | 46 | €2,483,372 | €0 | -€2.5m | -100.0% |
| Taxes, remuneration and social security | 45 | €7,050,645 | €5,987,346 | -€1.1m | -15.1% |
| Taxes | 450/3 | €1,725,854 | €1,331,065 | -€394,789 | -22.9% |
| Remuneration and social security | 454/9 | €5,324,791 | €4,656,280 | -€668,511 | -12.6% |
| Other amounts payable | 47/48 | €966,423 | €0 | -€966,423 | -100.0% |
| Accrued charges and deferred income | 492/3 | €706,205 | €3,304,371 | +€2.6m | +367.9% |
| Operating income | 70/76A | €104,667,760 | €102,852,109 | -€1.8m | -1.7% |
| Turnover | 70 | €101,904,158 | €102,441,294 | +€537,136 | +0.5% |
| Own construction capitalised | 72 | €35,000 | €0 | -€35,000 | -100.0% |
| Other operating income | 74 | €2,728,602 | €0 | -€2.7m | -100.0% |
| Non-recurring operating income | 76A | - | €410,815 | +€410,815 | |
| Operating charges | 60/66A | €103,697,292 | €101,941,202 | -€1.8m | -1.7% |
| Goods for resale, raw materials and consumables | 60 | €64,174,666 | €65,149,418 | +€974,752 | +1.5% |
| Purchases | 600/8 | €64,174,666 | €65,149,418 | +€974,752 | +1.5% |
| Services and other goods | 61 | €8,311,606 | €3,830,477 | -€4.5m | -53.9% |
| Remuneration, social security and pensions | 62 | €36,457,879 | €31,486,532 | -€5.0m | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,492 | €139,898 | +€6,406 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €140,770 | -€32,597 | -€173,368 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,952,842 | €870,658 | +€6.8m | |
| Other operating charges | 640/8 | €431,720 | €466,139 | +€34,419 | +8.0% |
| Non-recurring operating charges | 66A | - | €30,676 | +€30,676 | |
| Operating profit (loss) | 9901 | €970,468 | €910,908 | -€59,560 | -6.1% |
| Financial income | 75/76B | €43,400 | €32,216 | -€11,183 | -25.8% |
| Recurring financial income | 75 | €43,400 | €32,216 | -€11,183 | -25.8% |
| Income from financial fixed assets | 750 | €33,775 | €4,123 | -€29,652 | -87.8% |
| Other financial income | 752/9 | €9,625 | €28,094 | +€18,468 | +191.9% |
| Financial charges | 65/66B | €70,631 | €250,967 | +€180,336 | +255.3% |
| Recurring financial charges | 65 | €70,631 | €250,967 | +€180,336 | +255.3% |
| Debt charges | 650 | €33,689 | €210,282 | +€176,592 | +524.2% |
| Other financial charges | 652/9 | €36,941 | €40,685 | +€3,744 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €943,237 | €692,157 | -€251,080 | -26.6% |
| Income taxes | 67/77 | €580,275 | €626,869 | +€46,595 | +8.0% |
| Taxes | 670/3 | €631,646 | €626,869 | -€4,776 | -0.8% |
| Tax adjustments and reversals of tax provisions | 77 | €51,371 | €0 | -€51,371 | -100.0% |
| Profit (loss) for the period | 9904 | €362,962 | €65,288 | -€297,675 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €362,962 | €65,288 | -€297,675 | -82.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.