G&W 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&W IMMO
Largest movements
- Tangible fixed assets -€13,227
down €13,227 (-7.2%), from €184,442 to €171,215
of which Land and buildings: -€9,852
- Cash +€4,802
up €4,802 (+110%), from €4,365 to €9,167
mainly Depreciation (+€14,300) and Deferred charges and accrued income (+€94)
- Other debts -€5,344
down €5,344 (-2.8%), from €190,298 to €184,954
- Profit (loss) carried forward -€3,894
down €3,894 (-3.7%), from -€105,276 to -€109,170
- Gross operating margin +€5,846
up €5,846 (+89.8%), from €6,508 to €12,354
- Depreciation -€479
down €479 (-3.2%), from €14,779 to €14,300
- Other operating charges +€252
up €252 (+24.1%), from €1,042 to €1,294
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 | €210,376 | €200,784 | -€9,592 | -4.6% |
| Formation expenses | 20 | €21,475 | €20,402 | -€1,073 | -5.0% |
| Fixed assets | 21/28 | €184,442 | €171,215 | -€13,227 | -7.2% |
| Tangible fixed assets | 22/27 | €184,442 | €171,215 | -€13,227 | -7.2% |
| Land and buildings | 22 | €175,229 | €165,377 | -€9,852 | -5.6% |
| Plant, machinery and equipment | 23 | €8,567 | €5,514 | -€3,052 | -35.6% |
| Furniture and vehicles | 24 | €646 | €323 | -€323 | -50.0% |
| Current assets | 29/58 | €4,459 | €9,167 | +€4,708 | +106% |
| Amounts receivable within one year | 40/41 | - | €0 | = | |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €4,365 | €9,167 | +€4,802 | +110% |
| Deferred charges and accrued income | 490/1 | €94 | €0 | -€94 | -100% |
| Total equity and liabilities | 10/49 | €210,376 | €200,784 | -€9,592 | -4.6% |
| Equity | 10/15 | -€5,276 | -€9,170 | -€3,894 | -73.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,276 | -€109,170 | -€3,894 | -3.7% |
| Amounts payable | 17/49 | €215,652 | €209,954 | -€5,698 | -2.6% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,392 | €184,954 | -€5,438 | -2.9% |
| Trade debts | 44 | €94 | €0 | -€94 | -100% |
| Suppliers | 440/4 | €94 | €0 | -€94 | -100% |
| Other amounts payable | 47/48 | €190,298 | €184,954 | -€5,344 | -2.8% |
| Accrued charges and deferred income | 492/3 | €260 | €0 | -€260 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,779 | €14,300 | -€479 | -3.2% |
| Other operating charges | 640/8 | €1,042 | €1,294 | +€252 | +24.1% |
| Gross operating margin | 9900 | €6,508 | €12,354 | +€5,846 | +89.8% |
| Operating profit (loss) | 9901 | -€9,313 | -€3,239 | +€6,074 | +65.2% |
| Financial charges | 65/66B | €709 | €655 | -€54 | -7.6% |
| Recurring financial charges | 65 | €709 | €655 | -€54 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,022 | -€3,894 | +€6,128 | +61.1% |
| Profit (loss) for the period | 9904 | -€10,022 | -€3,894 | +€6,128 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,022 | -€3,894 | +€6,128 | +61.1% |
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 13 October 2026 via checked.be.