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
- Tangible fixed assets -€745,776
down €745,776 (-40.5%), from €1.8m to €1.1m
- Financial fixed assets +€169,100
new in 2026: €169,100
- Receivables within one year -€76,333
down €76,333 (-54.0%), from €141,353 to €65,020
of which Trade receivables: -€138,353
- Debts after one year -€721,514
down €721,514 (-58.9%), from €1.2m to €504,238
- Reserves +€186,318
up €186,318 (+344%), from €54,210 to €240,527
- Other debts -€112,000
down €112,000 (-22.3%), from €502,286 to €390,286
- Current portion of long-term debt -€57,056
down €57,056 (-53.2%), from €107,256 to €50,200
- Short-term financial debts +€41,757
new in 2026: €41,757
- Gross operating margin +€233,419
up €233,419 (+256%), from €91,123 to €324,542
- Taxes +€63,488
up €63,488 (+26,049%), from €244 to €63,732
- Depreciation -€13,704
down €13,704 (-30.3%), from €45,163 to €31,460
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,987,017 | €1,336,740 | -€650,276 | -32.7% |
| Fixed assets | 21/28 | €1,842,445 | €1,265,769 | -€576,676 | -31.3% |
| Tangible fixed assets | 22/27 | €1,842,445 | €1,096,669 | -€745,776 | -40.5% |
| Land and buildings | 22 | €1,842,445 | €1,096,669 | -€745,776 | -40.5% |
| Financial fixed assets | 28 | - | €169,100 | +€169,100 | |
| Current assets | 29/58 | €144,571 | €70,971 | -€73,600 | -50.9% |
| Amounts receivable within one year | 40/41 | €141,353 | €65,020 | -€76,333 | -54.0% |
| Trade receivables | 40 | €138,353 | - | -€138,353 | |
| Other amounts receivable | 41 | €3,000 | €65,020 | +€62,020 | +2,067% |
| Cash at bank and in hand | 54/58 | €3,219 | €5,952 | +€2,733 | +84.9% |
| Total equity and liabilities | 10/49 | €1,987,017 | €1,336,740 | -€650,276 | -32.7% |
| Equity | 10/15 | €150,210 | €336,527 | +€186,318 | +124% |
| Contributions | 10/11 | €96,000 | €96,000 | = | 0.0% |
| Reserves | 13 | €54,210 | €240,527 | +€186,318 | +344% |
| Distributable reserves | 133 | €54,210 | €240,527 | +€186,318 | +344% |
| Amounts payable | 17/49 | €1,836,807 | €1,000,213 | -€836,594 | -45.5% |
| Amounts payable after more than one year | 17 | €1,225,752 | €504,238 | -€721,514 | -58.9% |
| Financial debts | 170/4 | €1,225,752 | €504,238 | -€721,514 | -58.9% |
| Amounts payable within one year | 42/48 | €609,970 | €495,975 | -€113,995 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €107,256 | €50,200 | -€57,056 | -53.2% |
| Financial debts | 43 | - | €41,757 | +€41,757 | |
| Credit institutions | 430/8 | - | €41,757 | +€41,757 | |
| Trade debts | 44 | €30 | - | -€30 | |
| Suppliers | 440/4 | €30 | - | -€30 | |
| Taxes, remuneration and social security | 45 | €398 | €13,732 | +€13,334 | +3,348% |
| Taxes | 450/3 | €398 | €13,732 | +€13,334 | +3,348% |
| Other amounts payable | 47/48 | €502,286 | €390,286 | -€112,000 | -22.3% |
| Accrued charges and deferred income | 492/3 | €1,085 | - | -€1,085 | |
| Non-recurring operating income | 76A | - | €282,561 | +€282,561 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,163 | €31,460 | -€13,704 | -30.3% |
| Other operating charges | 640/8 | €6,976 | €7,279 | +€302 | +4.3% |
| Gross operating margin | 9900 | €91,123 | €324,542 | +€233,419 | +256% |
| Operating profit (loss) | 9901 | €38,983 | €285,804 | +€246,821 | +633% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €38,089 | €35,754 | -€2,335 | -6.1% |
| Recurring financial charges | 65 | €38,089 | €35,754 | -€2,335 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €894 | €250,050 | +€249,155 | +27,856% |
| Income taxes | 67/77 | €244 | €63,732 | +€63,488 | +26,049% |
| Profit (loss) for the period | 9904 | €651 | €186,318 | +€185,667 | +28,533% |
| Profit (loss) for the period to be appropriated | 9905 | €651 | €186,318 | +€185,667 | +28,533% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.