GAGAR IMMO: what changed
Two fiscal 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
GAGAR IMMO
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,973
2024 · €28,524-€31,497
Equity
€471,561
2024 · €474,535-€2,973
Cash
€60,786
2024 · €38,892+€21,894
Balance sheet total
€3.2m
2024 · €3.4m-€146,104
Largest movements
Assets
- Deferred charges and accrued income -€120,120
down €120,120 (-92.2%), from €130,255 to €10,135
- Receivables within one year -€53,135
down €53,135 (-66.3%), from €80,187 to €27,053
Equity and liabilities
- Debts after one year -€320,462
down €320,462 (-13.1%), from €2.4m to €2.1m
- Current portion of long-term debt +€208,276
up €208,276 (+185.7%), from €112,186 to €320,462
- Other debts -€87,972
down €87,972 (-33.9%), from €259,796 to €171,825
- Trade debts +€60,080
up €60,080 (+3313.9%), from €1,813 to €61,893
Income statement
- Gross operating margin -€15,612
down €15,612 (-5.8%), from €271,160 to €255,548
- Write-downs +€15,135
new in 2025: €15,135
- Depreciation +€3,083
up €3,083 (+2.1%), from €149,869 to €152,952
- Financial charges -€2,781
down €2,781 (-3.3%), from €85,117 to €82,336
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
€28,524
Gross operating margin
-€15,612
Depreciation
-€3,083
Write-downs
-€15,135
Other operating charges
-€449
Financial charges
+€2,781
Result 2025
-€2,973
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.
From operations
+€296,287
Investment
-€162,208
Financing
-€112,186
Cash 2024
€38,892
From operations (derived)
+€296,287
Net result for the year
-€2,973
Depreciation
+€152,952
Receivables after one year
+€4,000
Receivables within one year
+€53,135
Deferred charges and accrued income
+€120,120
Provisions
-€5,164
Trade debts
+€60,080
Other debts
-€87,972
Accrued charges and deferred income
+€2,111
Investment (derived)
-€162,208
Investment in fixed assets (net)
-€162,208
Financing
-€112,186
Debts after one year
-€320,462
Current portion of long-term debt
+€208,276
Cash 2025
€60,786
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,362,243 | €3,216,138 | -€146,104 | -4.3% |
| Fixed assets | 21/28 | €3,108,908 | €3,118,164 | +€9,256 | +0.3% |
| Tangible fixed assets | 22/27 | €3,041,908 | €3,051,164 | +€9,256 | +0.3% |
| Land and buildings | 22 | €3,040,542 | €3,050,329 | +€9,786 | +0.3% |
| Furniture and vehicles | 24 | €1,366 | €836 | -€530 | -38.8% |
| Financial fixed assets | 28 | €67,000 | €67,000 | = | 0.0% |
| Current assets | 29/58 | €253,334 | €97,974 | -€155,360 | -61.3% |
| Amounts receivable after more than one year | 29 | €4,000 | €0 | -€4,000 | -100.0% |
| Trade receivables | 290 | €4,000 | €0 | -€4,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €80,187 | €27,053 | -€53,135 | -66.3% |
| Other amounts receivable | 41 | €80,187 | €27,053 | -€53,135 | -66.3% |
| Cash at bank and in hand | 54/58 | €38,892 | €60,786 | +€21,894 | +56.3% |
| Deferred charges and accrued income | 490/1 | €130,255 | €10,135 | -€120,120 | -92.2% |
| Total equity and liabilities | 10/49 | €3,362,243 | €3,216,138 | -€146,104 | -4.3% |
| Equity | 10/15 | €474,535 | €471,561 | -€2,973 | -0.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €192,110 | €176,618 | -€15,493 | -8.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €185,910 | €170,418 | -€15,493 | -8.3% |
| Profit (loss) carried forward | 14 | €220,424 | €232,944 | +€12,519 | +5.7% |
| Provisions and deferred taxes | 16 | €61,970 | €56,806 | -€5,164 | -8.3% |
| Deferred taxes | 168 | €61,970 | €56,806 | -€5,164 | -8.3% |
| Amounts payable | 17/49 | €2,825,738 | €2,687,771 | -€137,967 | -4.9% |
| Amounts payable after more than one year | 17 | €2,449,694 | €2,129,232 | -€320,462 | -13.1% |
| Financial debts | 170/4 | €2,449,694 | €2,129,232 | -€320,462 | -13.1% |
| Amounts payable within one year | 42/48 | €373,795 | €554,179 | +€180,384 | +48.3% |
| Current portion of amounts payable after more than one year | 42 | €112,186 | €320,462 | +€208,276 | +185.7% |
| Trade debts | 44 | €1,813 | €61,893 | +€60,080 | +3313.9% |
| Suppliers | 440/4 | €1,813 | €61,893 | +€60,080 | +3313.9% |
| Other amounts payable | 47/48 | €259,796 | €171,825 | -€87,972 | -33.9% |
| Accrued charges and deferred income | 492/3 | €2,249 | €4,360 | +€2,111 | +93.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,869 | €152,952 | +€3,083 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,135 | +€15,135 | |
| Other operating charges | 640/8 | €12,815 | €13,264 | +€449 | +3.5% |
| Gross operating margin | 9900 | €271,160 | €255,548 | -€15,612 | -5.8% |
| Operating profit (loss) | 9901 | €108,477 | €74,198 | -€34,279 | -31.6% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €85,117 | €82,336 | -€2,781 | -3.3% |
| Recurring financial charges | 65 | €85,117 | €82,336 | -€2,781 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €23,360 | -€8,138 | -€31,497 | |
| Transfer from deferred taxes | 780 | €5,164 | €5,164 | = | 0.0% |
| Profit (loss) for the period | 9904 | €28,524 | -€2,973 | -€31,497 | |
| Transfer from tax-exempt reserves | 789 | €15,493 | €15,493 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,016 | €12,519 | -€31,497 | -71.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.