Gabeca: 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
Gabeca
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€37,143
2024 · -€90,397+€53,254
Equity
€14.4m
2024 · €14.5m-€37,143
Cash
€150,831
2024 · €64,855+€85,975
Balance sheet total
€15.4m
2024 · €15.6m-€254,557
Largest movements
Assets
- Current investments -€178,797
down €178,797 (-13.1%), from €1.4m to €1.2m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial charges -€59,078
down €59,078 (-79.1%), from €74,660 to €15,582
- Financial income +€37,515
up €37,515 (+30.3%), from €123,618 to €161,133
- Gross operating margin -€32,484
down €32,484 (-31.2%), from €103,989 to €71,505
- Depreciation +€14,479
up €14,479 (+7.7%), from €188,671 to €203,151
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
-€90,397
Gross operating margin
-€32,484
Depreciation
-€14,479
Other operating charges
-€750
Other operating items
+€4,327
Financial income
+€37,515
Financial charges
+€59,078
Taxes
+€47
Result 2025
-€37,143
raises the resultlowers the resultnot broken down further in the accounts
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
+€252,865
Investment
-€69,331
Financing
-€97,559
Cash 2024
€64,855
From operations (derived)
+€252,865
Net result for the year
-€37,143
Depreciation
+€203,151
Receivables after one year
+€100,000
Receivables within one year
-€12,231
Deferred charges and accrued income
+€118,943
Trade debts
-€17,838
Other debts
-€72,186
Accrued charges and deferred income
-€29,831
Investment (derived)
-€69,331
Investment in fixed assets (net)
-€248,128
Current investments
+€178,797
Financing
-€97,559
Debts after one year
-€98,403
Current portion of long-term debt
+€844
Cash 2025
€150,831
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,628,155 | €15,373,599 | -€254,557 | -1.6% |
| Fixed assets | 21/28 | €7,299,434 | €7,344,411 | +€44,977 | +0.6% |
| Tangible fixed assets | 22/27 | €7,299,434 | €7,344,411 | +€44,977 | +0.6% |
| Land and buildings | 22 | €7,294,728 | €7,129,040 | -€165,688 | -2.3% |
| Plant, machinery and equipment | 23 | €4,707 | €89,175 | +€84,468 | +1,795% |
| Assets under construction and advance payments | 27 | - | €126,197 | +€126,197 | |
| Current assets | 29/58 | €8,328,721 | €8,029,188 | -€299,533 | -3.6% |
| Amounts receivable after more than one year | 29 | €6,300,000 | €6,200,000 | -€100,000 | -1.6% |
| Other amounts receivable | 291 | €6,300,000 | €6,200,000 | -€100,000 | -1.6% |
| Amounts receivable within one year | 40/41 | €27,911 | €40,142 | +€12,231 | +43.8% |
| Other amounts receivable | 41 | €27,911 | €40,142 | +€12,231 | +43.8% |
| Current investments | 50/53 | €1,362,738 | €1,183,941 | -€178,797 | -13.1% |
| Cash at bank and in hand | 54/58 | €64,855 | €150,831 | +€85,975 | +133% |
| Deferred charges and accrued income | 490/1 | €573,216 | €454,273 | -€118,943 | -20.8% |
| Total equity and liabilities | 10/49 | €15,628,155 | €15,373,599 | -€254,557 | -1.6% |
| Equity | 10/15 | €14,457,152 | €14,420,009 | -€37,143 | -0.3% |
| Contributions | 10/11 | €14,736,612 | €14,736,612 | = | 0.0% |
| Capital | 10 | €14,736,612 | €14,736,612 | = | 0.0% |
| Issued capital | 100 | €14,736,612 | €14,736,612 | = | 0.0% |
| Reserves | 13 | €12,807 | €12,807 | = | 0.0% |
| Non-distributable reserves | 130/1 | €843 | €843 | = | 0.0% |
| Legal reserve | 130 | €843 | €843 | = | 0.0% |
| Distributable reserves | 133 | €11,964 | €11,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€292,267 | -€329,410 | -€37,143 | -12.7% |
| Amounts payable | 17/49 | €1,171,004 | €953,590 | -€217,414 | -18.6% |
| Amounts payable after more than one year | 17 | €741,699 | €643,297 | -€98,403 | -13.3% |
| Financial debts | 170/4 | €741,699 | €643,297 | -€98,403 | -13.3% |
| Amounts payable within one year | 42/48 | €215,142 | €125,962 | -€89,180 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €97,559 | €98,403 | +€844 | +0.9% |
| Trade debts | 44 | €23,332 | €5,494 | -€17,838 | -76.5% |
| Suppliers | 440/4 | €23,332 | €5,494 | -€17,838 | -76.5% |
| Other amounts payable | 47/48 | €94,251 | €22,065 | -€72,186 | -76.6% |
| Accrued charges and deferred income | 492/3 | €214,162 | €184,331 | -€29,831 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188,671 | €203,151 | +€14,479 | +7.7% |
| Other operating charges | 640/8 | €48,400 | €49,150 | +€750 | +1.5% |
| Non-recurring operating charges | 66A | €4,327 | €0 | -€4,327 | -100% |
| Gross operating margin | 9900 | €103,989 | €71,505 | -€32,484 | -31.2% |
| Operating profit (loss) | 9901 | -€137,410 | -€180,796 | -€43,386 | -31.6% |
| Financial income | 75/76B | €123,618 | €161,133 | +€37,515 | +30.3% |
| Recurring financial income | 75 | €123,618 | €161,133 | +€37,515 | +30.3% |
| Financial charges | 65/66B | €74,660 | €15,582 | -€59,078 | -79.1% |
| Recurring financial charges | 65 | €74,660 | €15,582 | -€59,078 | -79.1% |
| Profit (loss) for the period before taxes | 9903 | -€88,452 | -€35,245 | +€53,207 | +60.2% |
| Income taxes | 67/77 | €1,945 | €1,897 | -€47 | -2.4% |
| Profit (loss) for the period | 9904 | -€90,397 | -€37,143 | +€53,254 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,397 | -€37,143 | +€53,254 | +58.9% |
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 13 October 2026 via checked.be.