GECON-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.
GECON-IMMO
Largest movements
- Tangible fixed assets +€585,249
up €585,249 (+31.7%), from €1.8m to €2.4m
- Receivables within one year -€57,242
down €57,242 (-92.0%), from €62,242 to €5,000
of which Trade receivables: -€62,242
- Cash +€54,296
up €54,296 (+575.9%), from €9,427 to €63,723
mainly Debts after one year (+€337,145) and Other debts (+€223,465)
- Debts after one year +€337,145
up €337,145 (+27.5%), from €1.2m to €1.6m
of which Financial debts: +€337,145
- Other debts +€223,465
up €223,465 (+61.1%), from €365,855 to €589,319
- Current portion of long-term debt +€32,899
up €32,899 (+27.4%), from €119,956 to €152,855
- Financial charges +€26,652
up €26,652 (+71.0%), from €37,559 to €64,211
of which Financial charges: +€25,443
- Taxes -€8,704
no longer reported in 2025 (was €8,704)
- Gross operating margin -€4,572
down €4,572 (-2.6%), from €176,201 to €171,629
- Depreciation +€3,345
up €3,345 (+3.2%), from €104,727 to €108,072
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 | €1,916,795 | €2,499,536 | +€582,741 | +30.4% |
| Fixed assets | 21/28 | €1,843,540 | €2,428,789 | +€585,249 | +31.7% |
| Tangible fixed assets | 22/27 | €1,843,540 | €2,428,789 | +€585,249 | +31.7% |
| Land and buildings | 22 | €1,843,540 | €2,428,789 | +€585,249 | +31.7% |
| Current assets | 29/58 | €73,255 | €70,747 | -€2,508 | -3.4% |
| Amounts receivable within one year | 40/41 | €62,242 | €5,000 | -€57,242 | -92.0% |
| Trade receivables | 40 | €62,242 | - | -€62,242 | |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €9,427 | €63,723 | +€54,296 | +575.9% |
| Deferred charges and accrued income | 490/1 | €1,585 | €2,024 | +€439 | +27.7% |
| Total equity and liabilities | 10/49 | €1,916,795 | €2,499,536 | +€582,741 | +30.4% |
| Equity | 10/15 | €185,040 | €180,947 | -€4,093 | -2.2% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Revaluation surpluses | 12 | €8,665 | €8,665 | = | 0.0% |
| Reserves | 13 | €66,376 | €62,283 | -€4,093 | -6.2% |
| Distributable reserves | 133 | €66,376 | €62,283 | -€4,093 | -6.2% |
| Amounts payable | 17/49 | €1,731,754 | €2,318,588 | +€586,834 | +33.9% |
| Amounts payable after more than one year | 17 | €1,226,286 | €1,563,431 | +€337,145 | +27.5% |
| Financial debts | 170/4 | €1,224,886 | €1,562,031 | +€337,145 | +27.5% |
| Other amounts payable | 178/9 | €1,400 | €1,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €500,917 | €746,803 | +€245,886 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €119,956 | €152,855 | +€32,899 | +27.4% |
| Trade debts | 44 | €6,402 | €4,628 | -€1,774 | -27.7% |
| Suppliers | 440/4 | €6,402 | €4,628 | -€1,774 | -27.7% |
| Taxes, remuneration and social security | 45 | €8,704 | - | -€8,704 | |
| Taxes | 450/3 | €8,704 | - | -€8,704 | |
| Other amounts payable | 47/48 | €365,855 | €589,319 | +€223,465 | +61.1% |
| Accrued charges and deferred income | 492/3 | €4,551 | €8,355 | +€3,804 | +83.6% |
| Non-recurring operating income | 76A | €21,000 | - | -€21,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,727 | €108,072 | +€3,345 | +3.2% |
| Other operating charges | 640/8 | €1,972 | €3,439 | +€1,467 | +74.4% |
| Gross operating margin | 9900 | €176,201 | €171,629 | -€4,572 | -2.6% |
| Operating profit (loss) | 9901 | €69,502 | €60,118 | -€9,384 | -13.5% |
| Financial charges | 65/66B | €37,559 | €64,211 | +€26,652 | +71.0% |
| Recurring financial charges | 65 | €37,559 | €63,002 | +€25,443 | +67.7% |
| Non-recurring financial charges | 66B | - | €1,209 | +€1,209 | |
| Profit (loss) for the period before taxes | 9903 | €31,943 | -€4,093 | -€36,036 | |
| Income taxes | 67/77 | €8,704 | - | -€8,704 | |
| Profit (loss) for the period | 9904 | €23,238 | -€4,093 | -€27,332 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,238 | -€4,093 | -€27,332 |
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 6 October 2026 via checked.be.