G.M.S. 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.M.S. IMMO
Largest movements
- Cash -€30,124
down €30,124 (-21.8%), from €138,239 to €108,116
mainly Contributions, distributions and other (-€41,781) and Investment in fixed assets (net) (-€7,997)
- Tangible fixed assets -€2,158
down €2,158 (-4.1%), from €52,322 to €50,165
- Contributions -€30,500
down €30,500 (-33.2%), from €92,000 to €61,500
- Reserves +€11,924
up €11,924 (+21.1%), from €56,590 to €68,514
of which Distributable reserves: +€13,224
- Profit (loss) carried forward -€9,981
down €9,981 (-31.6%), from €31,602 to €21,621
- Tax, wage and social debts -€3,725
down €3,725 (-38.3%), from €9,716 to €5,991
- Gross operating margin -€1,457
down €1,457 (-3.9%), from €36,938 to €35,481
- Depreciation +€885
up €885 (+9.5%), from €9,270 to €10,155
- Other operating charges +€557
up €557 (+10.7%), from €5,184 to €5,741
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €190,562 | €158,280 | -€32,281 | -16.9% |
| Fixed assets | 21/28 | €52,322 | €50,165 | -€2,158 | -4.1% |
| Tangible fixed assets | 22/27 | €52,322 | €50,165 | -€2,158 | -4.1% |
| Land and buildings | 22 | €52,322 | €50,165 | -€2,158 | -4.1% |
| Current assets | 29/58 | €138,239 | €108,116 | -€30,124 | -21.8% |
| Cash at bank and in hand | 54/58 | €138,239 | €108,116 | -€30,124 | -21.8% |
| Total equity and liabilities | 10/49 | €190,562 | €158,280 | -€32,281 | -16.9% |
| Equity | 10/15 | €180,192 | €151,636 | -€28,557 | -15.8% |
| Contributions | 10/11 | €92,000 | €61,500 | -€30,500 | -33.2% |
| Capital | 10 | €92,000 | €61,500 | -€30,500 | -33.2% |
| Issued capital | 100 | €92,000 | €61,500 | -€30,500 | -33.2% |
| Reserves | 13 | €56,590 | €68,514 | +€11,924 | +21.1% |
| Non-distributable reserves | 130/1 | €9,200 | €7,900 | -€1,300 | -14.1% |
| Legal reserve | 130 | €9,200 | €7,900 | -€1,300 | -14.1% |
| Distributable reserves | 133 | €47,390 | €60,614 | +€13,224 | +27.9% |
| Profit (loss) carried forward | 14 | €31,602 | €21,621 | -€9,981 | -31.6% |
| Amounts payable | 17/49 | €10,369 | €6,645 | -€3,725 | -35.9% |
| Amounts payable within one year | 42/48 | €9,716 | €5,991 | -€3,725 | -38.3% |
| Taxes, remuneration and social security | 45 | €9,716 | €5,991 | -€3,725 | -38.3% |
| Taxes | 450/3 | €9,716 | €5,991 | -€3,725 | -38.3% |
| Accrued charges and deferred income | 492/3 | €654 | €654 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,270 | €10,155 | +€885 | +9.5% |
| Other operating charges | 640/8 | €5,184 | €5,741 | +€557 | +10.7% |
| Gross operating margin | 9900 | €36,938 | €35,481 | -€1,457 | -3.9% |
| Operating profit (loss) | 9901 | €22,484 | €19,585 | -€2,899 | -12.9% |
| Financial charges | 65/66B | €45 | €45 | +€0 | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €22,439 | €19,540 | -€2,899 | -12.9% |
| Income taxes | 67/77 | €6,291 | €6,316 | +€25 | +0.4% |
| Profit (loss) for the period | 9904 | €16,148 | €13,224 | -€2,923 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,148 | €13,224 | -€2,923 | -18.1% |
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 29 October 2026 via checked.be.