GC 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.
GC Immo
Largest movements
- Current investments -€90,764
down €90,764 (-43.1%), from €210,357 to €119,594
- Receivables within one year +€24,916
up €24,916 (+81.8%), from €30,471 to €55,387
of which Trade receivables: +€16,509
- Tangible fixed assets -€12,923
down €12,923 (-2.4%), from €530,389 to €517,465
of which Land and buildings: -€19,120
- Debts after one year -€37,823
down €37,823 (-6.4%), from €591,850 to €554,026
of which Financial debts: -€37,823
- Reserves -€35,958
down €35,958 (-99.0%), from €36,330 to €372
of which Distributable reserves: -€34,470
- Trade debts -€30,725
down €30,725 (-46.4%), from €66,182 to €35,457
- Profit (loss) carried forward +€26,151
up €26,151 (+95.9%), from €27,264 to €53,415
- Contributions -€14,880
down €14,880 (-80.0%), from €18,600 to €3,720
- Gross operating margin +€57,260
up €57,260 (+41.4%), from €138,280 to €195,540
- Taxes +€13,515
up €13,515 (+183.7%), from €7,359 to €20,874
- Other operating charges -€11,741
down €11,741 (-63.4%), from €18,513 to €6,772
- Write-downs +€9,624
up €9,624, from -€9,624 to €0
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 | €795,382 | €714,224 | -€81,158 | -10.2% |
| Fixed assets | 21/28 | €530,389 | €517,465 | -€12,923 | -2.4% |
| Tangible fixed assets | 22/27 | €530,389 | €517,465 | -€12,923 | -2.4% |
| Land and buildings | 22 | €465,020 | €445,900 | -€19,120 | -4.1% |
| Plant, machinery and equipment | 23 | €49,923 | €44,202 | -€5,721 | -11.5% |
| Furniture and vehicles | 24 | €12,852 | €24,969 | +€12,117 | +94.3% |
| Other tangible fixed assets | 26 | €2,594 | €2,394 | -€200 | -7.7% |
| Current assets | 29/58 | €264,993 | €196,759 | -€68,234 | -25.7% |
| Amounts receivable within one year | 40/41 | €30,471 | €55,387 | +€24,916 | +81.8% |
| Trade receivables | 40 | €11,272 | €27,781 | +€16,509 | +146.5% |
| Other amounts receivable | 41 | €19,199 | €27,606 | +€8,407 | +43.8% |
| Current investments | 50/53 | €210,357 | €119,594 | -€90,764 | -43.1% |
| Cash at bank and in hand | 54/58 | €17,932 | €21,451 | +€3,519 | +19.6% |
| Deferred charges and accrued income | 490/1 | €6,233 | €327 | -€5,906 | -94.8% |
| Total equity and liabilities | 10/49 | €795,382 | €714,224 | -€81,158 | -10.2% |
| Equity | 10/15 | €82,193 | €57,507 | -€24,687 | -30.0% |
| Contributions | 10/11 | €18,600 | €3,720 | -€14,880 | -80.0% |
| Reserves | 13 | €36,330 | €372 | -€35,958 | -99.0% |
| Non-distributable reserves | 130/1 | €1,860 | €372 | -€1,488 | -80.0% |
| Reserves not available under the articles | 1311 | €1,860 | €372 | -€1,488 | -80.0% |
| Distributable reserves | 133 | €34,470 | €0 | -€34,470 | -100.0% |
| Profit (loss) carried forward | 14 | €27,264 | €53,415 | +€26,151 | +95.9% |
| Amounts payable | 17/49 | €713,189 | €656,717 | -€56,471 | -7.9% |
| Amounts payable after more than one year | 17 | €591,850 | €554,026 | -€37,823 | -6.4% |
| Financial debts | 170/4 | €588,480 | €550,657 | -€37,823 | -6.4% |
| Other amounts payable | 178/9 | €3,370 | €3,370 | = | 0.0% |
| Amounts payable within one year | 42/48 | €121,339 | €102,691 | -€18,648 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €38,044 | €39,143 | +€1,099 | +2.9% |
| Trade debts | 44 | €66,182 | €35,457 | -€30,725 | -46.4% |
| Suppliers | 440/4 | €66,182 | €35,457 | -€30,725 | -46.4% |
| Taxes, remuneration and social security | 45 | €15,913 | €26,891 | +€10,978 | +69.0% |
| Taxes | 450/3 | €9,533 | €25,482 | +€15,949 | +167.3% |
| Remuneration and social security | 454/9 | €6,380 | €1,409 | -€4,971 | -77.9% |
| Other amounts payable | 47/48 | €1,200 | €1,200 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €53,473 | €52,988 | -€485 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,699 | €33,240 | -€1,460 | -4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,624 | €0 | +€9,624 | |
| Other operating charges | 640/8 | €18,513 | €6,772 | -€11,741 | -63.4% |
| Gross operating margin | 9900 | €138,280 | €195,540 | +€57,260 | +41.4% |
| Operating profit (loss) | 9901 | €41,218 | €102,540 | +€61,322 | +148.8% |
| Financial income | 75/76B | €2,545 | €2,960 | +€415 | +16.3% |
| Recurring financial income | 75 | €2,545 | €2,960 | +€415 | +16.3% |
| Financial charges | 65/66B | €22,379 | €23,427 | +€1,048 | +4.7% |
| Recurring financial charges | 65 | €22,379 | €23,427 | +€1,048 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €21,384 | €82,073 | +€60,689 | +283.8% |
| Income taxes | 67/77 | €7,359 | €20,874 | +€13,515 | +183.7% |
| Profit (loss) for the period | 9904 | €14,025 | €61,199 | +€47,174 | +336.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,025 | €61,199 | +€47,174 | +336.4% |
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 10 October 2026 via checked.be.