GEHLEN 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.
What changed
GEHLEN IMMO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€109,291
2024 · €36,867+€72,424
Equity
€926,318
2024 · €917,027+€9,291
Cash
€48,470
2024 · €74,160-€25,690
Balance sheet total
€8.4m
2024 · €5.8m+€2.6m
Largest movements
Assets
- Stocks and contracts +€2.6m
up €2.6m (+90.7%), from €2.9m to €5.5m
Equity and liabilities
- Short-term financial debts +€1.9m
up €1.9m (+91.2%), from €2.1m to €4.0m
- Trade debts +€661,973
up €661,973 (+152%), from €434,815 to €1.1m
Income statement
- Financial income +€228,898
up €228,898 (+7,094%), from €3,227 to €232,125
- Gross operating margin -€167,945
down €167,945 (-37.2%), from €451,216 to €283,272
- Other operating charges +€50,335
up €50,335 (+164%), from €30,741 to €81,076
- Staff costs -€50,209
down €50,209 (-30.0%), from €167,469 to €117,260
- Financial charges -€21,088
down €21,088 (-12.1%), from €173,997 to €152,910
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.
Result 2024
€36,867
Gross operating margin
-€167,945
Staff costs
+€50,209
Depreciation
-€225
Write-downs
+€123
Other operating charges
-€50,335
Financial income
+€228,898
Financial charges
+€21,088
Taxes
-€9,389
Result 2025
€109,291
raises the resultlowers the result
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.
From operations
-€1.9m
Investment
+€12,375
Financing
+€1.8m
Cash 2024
€74,160
From operations (derived)
-€1.9m
Net result for the year
+€109,291
Depreciation
+€17,131
Stocks and contracts
-€2.6m
Receivables within one year
-€8,869
Deferred charges and accrued income
+€7,312
Trade debts
+€661,973
Tax, wage and social debts
-€64,150
Smaller working-capital items
+€1,886
Investment (derived)
+€12,375
Investment in fixed assets (net)
+€12,375
Financing
+€1.8m
Debts after one year
+€57,625
Current portion of long-term debt
+€426
Short-term financial debts
+€1.9m
Contributions, distributions and other
-€100,000
Cash 2025
€48,470
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,836,729 | €8,387,869 | +€2.6m | +43.7% |
| Fixed assets | 21/28 | €665,744 | €636,238 | -€29,506 | -4.4% |
| Tangible fixed assets | 22/27 | €300,679 | €283,548 | -€17,131 | -5.7% |
| Land and buildings | 22 | €292,820 | €277,460 | -€15,359 | -5.2% |
| Plant, machinery and equipment | 23 | €7,035 | €5,595 | -€1,440 | -20.5% |
| Furniture and vehicles | 24 | €825 | €493 | -€332 | -40.2% |
| Financial fixed assets | 28 | €365,065 | €352,690 | -€12,375 | -3.4% |
| Current assets | 29/58 | €5,170,984 | €7,751,631 | +€2.6m | +49.9% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Trade receivables | 290 | €150,000 | €150,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,872,630 | €5,477,409 | +€2.6m | +90.7% |
| Stocks | 30/36 | €2,872,630 | €5,477,409 | +€2.6m | +90.7% |
| Amounts receivable within one year | 40/41 | €2,046,325 | €2,055,194 | +€8,869 | +0.4% |
| Trade receivables | 40 | €323,036 | €285,438 | -€37,598 | -11.6% |
| Other amounts receivable | 41 | €1,723,289 | €1,769,756 | +€46,467 | +2.7% |
| Cash at bank and in hand | 54/58 | €74,160 | €48,470 | -€25,690 | -34.6% |
| Deferred charges and accrued income | 490/1 | €27,870 | €20,558 | -€7,312 | -26.2% |
| Total equity and liabilities | 10/49 | €5,836,729 | €8,387,869 | +€2.6m | +43.7% |
| Equity | 10/15 | €917,027 | €926,318 | +€9,291 | +1.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €617,027 | €626,318 | +€9,291 | +1.5% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €502,827 | €512,118 | +€9,291 | +1.8% |
| Amounts payable | 17/49 | €4,919,701 | €7,461,550 | +€2.5m | +51.7% |
| Amounts payable after more than one year | 17 | €258,630 | €316,255 | +€57,625 | +22.3% |
| Financial debts | 170/4 | €258,630 | €316,255 | +€57,625 | +22.3% |
| Amounts payable within one year | 42/48 | €4,659,132 | €7,141,489 | +€2.5m | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €41,949 | €42,375 | +€426 | +1.0% |
| Financial debts | 43 | €2,066,312 | €3,950,400 | +€1.9m | +91.2% |
| Credit institutions | 430/8 | €2,066,312 | €3,950,400 | +€1.9m | +91.2% |
| Trade debts | 44 | €434,815 | €1,096,789 | +€661,973 | +152% |
| Suppliers | 440/4 | €434,815 | €1,096,789 | +€661,973 | +152% |
| Taxes, remuneration and social security | 45 | €90,005 | €25,855 | -€64,150 | -71.3% |
| Taxes | 450/3 | €56,972 | €7,392 | -€49,580 | -87.0% |
| Remuneration and social security | 454/9 | €33,033 | €18,463 | -€14,570 | -44.1% |
| Other amounts payable | 47/48 | €2,026,050 | €2,026,069 | +€19 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,940 | €3,806 | +€1,867 | +96.2% |
| Remuneration, social security and pensions | 62 | €167,469 | €117,260 | -€50,209 | -30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,906 | €17,131 | +€225 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €123 | - | -€123 | |
| Other operating charges | 640/8 | €30,741 | €81,076 | +€50,335 | +164% |
| Gross operating margin | 9900 | €451,216 | €283,272 | -€167,945 | -37.2% |
| Operating profit (loss) | 9901 | €235,977 | €67,805 | -€168,172 | -71.3% |
| Financial income | 75/76B | €3,227 | €232,125 | +€228,898 | +7,094% |
| Recurring financial income | 75 | €3,227 | €232,125 | +€228,898 | +7,094% |
| Financial charges | 65/66B | €173,997 | €152,910 | -€21,088 | -12.1% |
| Recurring financial charges | 65 | €173,997 | €152,910 | -€21,088 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €65,207 | €147,020 | +€81,814 | +125% |
| Income taxes | 67/77 | €28,340 | €37,729 | +€9,389 | +33.1% |
| Profit (loss) for the period | 9904 | €36,867 | €109,291 | +€72,424 | +196% |
| Profit (loss) for the period to be appropriated | 9905 | €36,867 | €109,291 | +€72,424 | +196% |
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 28 October 2026 via checked.be.