GBS 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.
GBS IMMO
Largest movements
- Tangible fixed assets +€143,847
up €143,847 (+13.0%), from €1.1m to €1.2m
of which Assets under construction and advance payments: +€171,529
- Debts after one year +€208,584
up €208,584 (+16.8%), from €1.2m to €1.4m
of which Other amounts payable: +€246,400
- Profit (loss) carried forward -€61,500
down €61,500 (-24.5%), from -€251,379 to -€312,879
- Gross operating margin -€21,292
down €21,292, from €16,115 to -€5,177
- Other operating charges +€4,984
up €4,984 (+79.3%), from €6,287 to €11,271
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 | €1,114,160 | €1,256,457 | +€142,296 | +12.8% |
| Fixed assets | 21/28 | €1,105,201 | €1,249,049 | +€143,847 | +13.0% |
| Tangible fixed assets | 22/27 | €1,105,201 | €1,249,049 | +€143,847 | +13.0% |
| Land and buildings | 22 | €978,964 | €951,282 | -€27,682 | -2.8% |
| Assets under construction and advance payments | 27 | €126,238 | €297,767 | +€171,529 | +135.9% |
| Current assets | 29/58 | €8,959 | €7,408 | -€1,551 | -17.3% |
| Cash at bank and in hand | 54/58 | €7,591 | €6,022 | -€1,569 | -20.7% |
| Deferred charges and accrued income | 490/1 | €1,368 | €1,386 | +€18 | +1.3% |
| Total equity and liabilities | 10/49 | €1,114,160 | €1,256,457 | +€142,296 | +12.8% |
| Equity | 10/15 | -€232,779 | -€294,279 | -€61,500 | -26.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€251,379 | -€312,879 | -€61,500 | -24.5% |
| Amounts payable | 17/49 | €1,346,940 | €1,550,736 | +€203,796 | +15.1% |
| Amounts payable after more than one year | 17 | €1,239,564 | €1,448,147 | +€208,584 | +16.8% |
| Financial debts | 170/4 | €654,334 | €616,517 | -€37,816 | -5.8% |
| Other amounts payable | 178/9 | €585,230 | €831,630 | +€246,400 | +42.1% |
| Amounts payable within one year | 42/48 | €84,678 | €74,101 | -€10,577 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €37,219 | €35,549 | -€1,670 | -4.5% |
| Trade debts | 44 | €5,511 | €3,103 | -€2,407 | -43.7% |
| Suppliers | 440/4 | €5,511 | €3,103 | -€2,407 | -43.7% |
| Other amounts payable | 47/48 | €41,948 | €35,448 | -€6,500 | -15.5% |
| Accrued charges and deferred income | 492/3 | €22,698 | €28,488 | +€5,790 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,682 | €27,682 | = | 0.0% |
| Other operating charges | 640/8 | €6,287 | €11,271 | +€4,984 | +79.3% |
| Gross operating margin | 9900 | €16,115 | -€5,177 | -€21,292 | |
| Operating profit (loss) | 9901 | -€17,854 | -€44,130 | -€26,276 | -147.2% |
| Financial charges | 65/66B | €17,328 | €17,370 | +€42 | +0.2% |
| Recurring financial charges | 65 | €17,328 | €17,370 | +€42 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | -€35,182 | -€61,500 | -€26,318 | -74.8% |
| Profit (loss) for the period | 9904 | -€35,182 | -€61,500 | -€26,318 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,182 | -€61,500 | -€26,318 | -74.8% |
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 9 October 2026 via checked.be.