G.C.F.E. IMMO: 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
G.C.F.E. IMMO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,568
2024 · €26,801-€21,232
Equity
€1.4m
2024 · -€235,890+€1.6m
Cash
€61,471
2024 · €66,002-€4,531
Balance sheet total
€2.4m
2024 · €823,705+€1.5m
Largest movements
Assets
- Tangible fixed assets +€1.5m
up €1.5m (+205%), from €753,715 to €2.3m
of which Land and buildings: +€1.5m
Equity and liabilities
- Revaluation surpluses +€1.6m
new in 2025: €1.6m
- Debts after one year -€57,170
down €57,170 (-5.8%), from €987,458 to €930,288
of which Financial debts: -€57,170
Income statement
- Gross operating margin -€23,524
down €23,524 (-22.9%), from €102,810 to €79,286
- Taxes -€2,050
down €2,050 (-78.8%), from €2,600 to €550
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
€26,801
Gross operating margin
-€23,524
Depreciation
-€280
Other operating charges
-€463
Financial income
+€252
Financial charges
+€731
Taxes
+€2,050
Result 2025
€5,568
raises the resultlowers the result
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
+€61,842
Investment
-€1.6m
Financing
+€1.5m
Cash 2024
€66,002
From operations (derived)
+€61,842
Net result for the year
+€5,568
Depreciation
+€54,113
Smaller working-capital items
+€2,161
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
+€1.5m
Debts after one year
-€57,170
Current portion of long-term debt
+€810
Contributions, distributions and other
+€1.6m
Cash 2025
€61,471
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €823,705 | €2,365,335 | +€1.5m | +187% |
| Fixed assets | 21/28 | €753,715 | €2,300,538 | +€1.5m | +205% |
| Tangible fixed assets | 22/27 | €753,715 | €2,300,538 | +€1.5m | +205% |
| Land and buildings | 22 | €752,777 | €2,299,869 | +€1.5m | +206% |
| Furniture and vehicles | 24 | €938 | €669 | -€270 | -28.7% |
| Current assets | 29/58 | €69,989 | €64,797 | -€5,192 | -7.4% |
| Amounts receivable within one year | 40/41 | - | €1,723 | +€1,723 | |
| Trade receivables | 40 | - | €1,723 | +€1,723 | |
| Cash at bank and in hand | 54/58 | €66,002 | €61,471 | -€4,531 | -6.9% |
| Deferred charges and accrued income | 490/1 | €3,988 | €1,603 | -€2,385 | -59.8% |
| Total equity and liabilities | 10/49 | €823,705 | €2,365,335 | +€1.5m | +187% |
| Equity | 10/15 | -€235,890 | €1,360,601 | +€1.6m | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,590,792 | +€1.6m | |
| Reserves | 13 | €90,000 | €95,631 | +€5,631 | +6.3% |
| Distributable reserves | 133 | €90,000 | €95,631 | +€5,631 | +6.3% |
| Profit (loss) carried forward | 14 | -€425,890 | -€425,821 | +€68 | 0.0% |
| Amounts payable | 17/49 | €1,059,594 | €1,004,734 | -€54,860 | -5.2% |
| Amounts payable after more than one year | 17 | €987,458 | €930,288 | -€57,170 | -5.8% |
| Financial debts | 170/4 | €339,258 | €282,088 | -€57,170 | -16.9% |
| Other amounts payable | 178/9 | €648,200 | €648,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €65,400 | €67,498 | +€2,098 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €61,090 | €61,900 | +€810 | +1.3% |
| Trade debts | 44 | €1,804 | €5,218 | +€3,414 | +189% |
| Suppliers | 440/4 | €1,804 | €5,218 | +€3,414 | +189% |
| Taxes, remuneration and social security | 45 | €2,500 | €374 | -€2,126 | -85.0% |
| Taxes | 450/3 | €2,500 | €374 | -€2,126 | -85.0% |
| Other amounts payable | 47/48 | €6 | €6 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,737 | €6,948 | +€211 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,834 | €54,113 | +€280 | +0.5% |
| Other operating charges | 640/8 | €13,975 | €14,438 | +€463 | +3.3% |
| Gross operating margin | 9900 | €102,810 | €79,286 | -€23,524 | -22.9% |
| Operating profit (loss) | 9901 | €35,001 | €10,735 | -€24,266 | -69.3% |
| Financial income | 75/76B | €333 | €585 | +€252 | +75.7% |
| Recurring financial income | 75 | €333 | €585 | +€252 | +75.7% |
| Financial charges | 65/66B | €5,933 | €5,202 | -€731 | -12.3% |
| Recurring financial charges | 65 | €5,933 | €5,202 | -€731 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €29,401 | €6,118 | -€23,282 | -79.2% |
| Income taxes | 67/77 | €2,600 | €550 | -€2,050 | -78.8% |
| Profit (loss) for the period | 9904 | €26,801 | €5,568 | -€21,232 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,801 | €5,568 | -€21,232 | -79.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.