G.E.L. 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.
G.E.L. IMMO
Largest movements
- Receivables within one year -€196,762
down €196,762 (-37.0%), from €531,533 to €334,771
of which Other amounts receivable: -€191,584
- Other debts -€136,749
down €136,749 (-35.6%), from €383,654 to €246,905
- Debts after one year -€80,311
down €80,311 (-13.1%), from €615,125 to €534,814
of which Financial debts: -€80,311
- Financial income -€4,607
down €4,607 (-25.7%), from €17,915 to €13,308
- Gross operating margin -€3,251
down €3,251 (-7.2%), from €45,142 to €41,891
- Financial charges -€833
down €833 (-4.0%), from €20,913 to €20,081
- Other operating charges -€674
down €674 (-6.6%), from €10,189 to €9,515
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,061,026 | €2,859,296 | -€201,729 | -6.6% |
| Fixed assets | 21/28 | €2,528,241 | €2,522,901 | -€5,341 | -0.2% |
| Tangible fixed assets | 22/27 | €2,528,241 | €2,522,901 | -€5,341 | -0.2% |
| Land and buildings | 22 | €2,510,352 | €2,510,352 | = | 0.0% |
| Plant, machinery and equipment | 23 | €17,889 | €12,549 | -€5,341 | -29.9% |
| Current assets | 29/58 | €532,784 | €336,396 | -€196,389 | -36.9% |
| Amounts receivable within one year | 40/41 | €531,533 | €334,771 | -€196,762 | -37.0% |
| Trade receivables | 40 | €9,568 | €4,390 | -€5,178 | -54.1% |
| Other amounts receivable | 41 | €521,965 | €330,381 | -€191,584 | -36.7% |
| Cash at bank and in hand | 54/58 | - | €19 | +€19 | |
| Deferred charges and accrued income | 490/1 | €1,251 | €1,605 | +€354 | +28.3% |
| Total equity and liabilities | 10/49 | €3,061,026 | €2,859,296 | -€201,729 | -6.6% |
| Equity | 10/15 | €1,958,851 | €1,979,103 | +€20,252 | +1.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €1,874,942 | €1,874,942 | = | 0.0% |
| Reserves | 13 | €22,409 | €42,661 | +€20,252 | +90.4% |
| Non-distributable reserves | 130/1 | €10,813 | €10,813 | = | 0.0% |
| Legal reserve | 130 | €10,813 | €10,813 | = | 0.0% |
| Distributable reserves | 133 | €11,596 | €31,848 | +€20,252 | +174.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,102,175 | €880,193 | -€221,982 | -20.1% |
| Amounts payable after more than one year | 17 | €615,125 | €534,814 | -€80,311 | -13.1% |
| Financial debts | 170/4 | €415,125 | €334,814 | -€80,311 | -19.3% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €483,699 | €343,179 | -€140,520 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €85,586 | €80,311 | -€5,275 | -6.2% |
| Financial debts | 43 | €0 | €0 | -€0 | -100.0% |
| Credit institutions | 430/8 | €0 | €0 | -€0 | -100.0% |
| Trade debts | 44 | €14,459 | €15,953 | +€1,494 | +10.3% |
| Suppliers | 440/4 | €14,459 | €15,953 | +€1,494 | +10.3% |
| Taxes, remuneration and social security | 45 | - | €10 | +€10 | |
| Taxes | 450/3 | - | €10 | +€10 | |
| Other amounts payable | 47/48 | €383,654 | €246,905 | -€136,749 | -35.6% |
| Accrued charges and deferred income | 492/3 | €3,351 | €2,200 | -€1,151 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,341 | €5,341 | = | 0.0% |
| Other operating charges | 640/8 | €10,189 | €9,515 | -€674 | -6.6% |
| Gross operating margin | 9900 | €45,142 | €41,891 | -€3,251 | -7.2% |
| Operating profit (loss) | 9901 | €29,612 | €27,035 | -€2,577 | -8.7% |
| Financial income | 75/76B | €17,915 | €13,308 | -€4,607 | -25.7% |
| Recurring financial income | 75 | €17,915 | €13,308 | -€4,607 | -25.7% |
| Financial charges | 65/66B | €20,913 | €20,081 | -€833 | -4.0% |
| Recurring financial charges | 65 | €20,913 | €20,081 | -€833 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €26,614 | €20,262 | -€6,352 | -23.9% |
| Income taxes | 67/77 | - | €10 | +€10 | |
| Profit (loss) for the period | 9904 | €26,614 | €20,252 | -€6,362 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,614 | €20,252 | -€6,362 | -23.9% |
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 12 October 2026 via checked.be.