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
- Receivables within one year -€497,700
down €497,700 (-85.4%), from €582,668 to €84,968
of which Trade receivables: -€432,529
- Stocks and contracts -€146,731
down €146,731 (-37.3%), from €393,200 to €246,469
- Cash -€47,827
down €47,827 (-73.7%), from €64,921 to €17,094
mainly Net result for the year (-€497,011) and Short-term financial debts (-€211,688)
- Profit (loss) carried forward -€497,011
down €497,011, from €22,004 to -€475,006
- Short-term financial debts -€211,688
down €211,688 (-53.2%), from €397,766 to €186,077
- Other debts +€10,595
up €10,595 (+2.1%), from €512,790 to €523,385
- Gross operating margin -€509,068
down €509,068, from €40,492 to -€468,576
- Financial charges -€13,253
down €13,253 (-34.4%), from €38,575 to €25,321
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 | €1,054,375 | €359,507 | -€694,868 | -65.9% |
| Fixed assets | 21/28 | €11,800 | €9,165 | -€2,635 | -22.3% |
| Tangible fixed assets | 22/27 | €11,200 | €8,565 | -€2,635 | -23.5% |
| Plant, machinery and equipment | 23 | - | €1,205 | +€1,205 | |
| Furniture and vehicles | 24 | €11,200 | €7,360 | -€3,840 | -34.3% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €1,042,575 | €350,342 | -€692,233 | -66.4% |
| Stocks and contracts in progress | 3 | €393,200 | €246,469 | -€146,731 | -37.3% |
| Stocks | 30/36 | €393,200 | €246,469 | -€146,731 | -37.3% |
| Amounts receivable within one year | 40/41 | €582,668 | €84,968 | -€497,700 | -85.4% |
| Trade receivables | 40 | €499,900 | €67,371 | -€432,529 | -86.5% |
| Other amounts receivable | 41 | €82,768 | €17,597 | -€65,171 | -78.7% |
| Cash at bank and in hand | 54/58 | €64,921 | €17,094 | -€47,827 | -73.7% |
| Deferred charges and accrued income | 490/1 | €1,786 | €1,811 | +€26 | +1.4% |
| Total equity and liabilities | 10/49 | €1,054,375 | €359,507 | -€694,868 | -65.9% |
| Equity | 10/15 | €34,182 | -€462,829 | -€497,011 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,177 | €2,177 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €317 | €317 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,004 | -€475,006 | -€497,011 | |
| Amounts payable | 17/49 | €1,020,193 | €822,336 | -€197,857 | -19.4% |
| Amounts payable after more than one year | 17 | €59,143 | €59,143 | = | 0.0% |
| Financial debts | 170/4 | €59,143 | €59,143 | = | 0.0% |
| Amounts payable within one year | 42/48 | €961,050 | €763,193 | -€197,857 | -20.6% |
| Financial debts | 43 | €397,766 | €186,077 | -€211,688 | -53.2% |
| Credit institutions | 430/8 | €397,766 | €186,077 | -€211,688 | -53.2% |
| Trade debts | 44 | €40,960 | €44,287 | +€3,328 | +8.1% |
| Suppliers | 440/4 | €40,960 | €44,287 | +€3,328 | +8.1% |
| Advances received on contracts in progress | 46 | €3,739 | €9,185 | +€5,446 | +146% |
| Taxes, remuneration and social security | 45 | €5,796 | €258 | -€5,538 | -95.5% |
| Taxes | 450/3 | €5,796 | €258 | -€5,538 | -95.5% |
| Other amounts payable | 47/48 | €512,790 | €523,385 | +€10,595 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,840 | €3,940 | +€100 | +2.6% |
| Other operating charges | 640/8 | €555 | €470 | -€85 | -15.3% |
| Gross operating margin | 9900 | €40,492 | -€468,576 | -€509,068 | |
| Operating profit (loss) | 9901 | €36,097 | -€472,986 | -€509,083 | |
| Financial income | 75/76B | €5,886 | €1,297 | -€4,589 | -78.0% |
| Recurring financial income | 75 | €5,886 | €1,297 | -€4,589 | -78.0% |
| Financial charges | 65/66B | €38,575 | €25,321 | -€13,253 | -34.4% |
| Recurring financial charges | 65 | €38,575 | €25,321 | -€13,253 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €3,408 | -€497,011 | -€500,419 | |
| Income taxes | 67/77 | €1,034 | - | -€1,034 | |
| Profit (loss) for the period | 9904 | €2,374 | -€497,011 | -€499,385 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,374 | -€497,011 | -€499,385 |
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.