GERDAY 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.
GERDAY IMMO
Largest movements
- Receivables after one year +€80,000
new in 2025: €80,000
- Tangible fixed assets -€18,010
down €18,010 (-3.1%), from €584,678 to €566,668
of which Land and buildings: -€17,296
- Cash -€15,676
down €15,676 (-67.1%), from €23,367 to €7,691
mainly Receivables after one year (-€80,000) and Contributions, distributions and other (-€80,000)
- Other debts +€41,100
up €41,100 (+102.7%), from €40,000 to €81,100
- Tax, wage and social debts +€8,024
up €8,024 (+49.5%), from €16,211 to €24,234
- Gross operating margin -€18,671
down €18,671 (-10.0%), from €186,446 to €167,776
- Taxes -€7,030
down €7,030 (-15.4%), from €45,542 to €38,511
- Provisions +€5,000
no longer reported in 2025 (was -€5,000)
- Financial charges -€3,142
down €3,142 (-49.9%), from €6,291 to €3,149
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 | €615,156 | €660,246 | +€45,089 | +7.3% |
| Fixed assets | 21/28 | €584,678 | €566,668 | -€18,010 | -3.1% |
| Tangible fixed assets | 22/27 | €584,678 | €566,668 | -€18,010 | -3.1% |
| Land and buildings | 22 | €582,214 | €564,918 | -€17,296 | -3.0% |
| Plant, machinery and equipment | 23 | €2,464 | €1,750 | -€715 | -29.0% |
| Current assets | 29/58 | €30,478 | €93,578 | +€63,099 | +207.0% |
| Amounts receivable after more than one year | 29 | - | €80,000 | +€80,000 | |
| Other amounts receivable | 291 | - | €80,000 | +€80,000 | |
| Amounts receivable within one year | 40/41 | €1,660 | €219 | -€1,441 | -86.8% |
| Trade receivables | 40 | €373 | - | -€373 | |
| Other amounts receivable | 41 | €1,288 | €219 | -€1,069 | -83.0% |
| Cash at bank and in hand | 54/58 | €23,367 | €7,691 | -€15,676 | -67.1% |
| Deferred charges and accrued income | 490/1 | €5,451 | €5,668 | +€217 | +4.0% |
| Total equity and liabilities | 10/49 | €615,156 | €660,246 | +€45,089 | +7.3% |
| Equity | 10/15 | €521,181 | €517,584 | -€3,597 | -0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €458,504 | €454,903 | -€3,601 | -0.8% |
| Non-distributable reserves | 130/1 | €14,157 | €14,157 | = | 0.0% |
| Legal reserve | 130 | €14,157 | €14,157 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,647 | €46,645 | -€5,001 | -9.7% |
| Distributable reserves | 133 | €392,700 | €394,100 | +€1,400 | +0.4% |
| Profit (loss) carried forward | 14 | €677 | €681 | +€4 | +0.6% |
| Provisions and deferred taxes | 16 | €17,216 | €15,548 | -€1,667 | -9.7% |
| Deferred taxes | 168 | €17,216 | €15,548 | -€1,667 | -9.7% |
| Amounts payable | 17/49 | €76,760 | €127,113 | +€50,353 | +65.6% |
| Amounts payable within one year | 42/48 | €59,655 | €109,491 | +€49,836 | +83.5% |
| Trade debts | 44 | €3,444 | €4,156 | +€712 | +20.7% |
| Suppliers | 440/4 | €3,444 | €4,156 | +€712 | +20.7% |
| Taxes, remuneration and social security | 45 | €16,211 | €24,234 | +€8,024 | +49.5% |
| Taxes | 450/3 | €16,211 | €24,234 | +€8,024 | +49.5% |
| Other amounts payable | 47/48 | €40,000 | €81,100 | +€41,100 | +102.7% |
| Accrued charges and deferred income | 492/3 | €17,105 | €17,623 | +€518 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,767 | €18,010 | +€1,243 | +7.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,000 | - | +€5,000 | |
| Other operating charges | 640/8 | €32,910 | €33,504 | +€594 | +1.8% |
| Gross operating margin | 9900 | €186,446 | €167,776 | -€18,671 | -10.0% |
| Operating profit (loss) | 9901 | €141,769 | €116,261 | -€25,507 | -18.0% |
| Financial income | 75/76B | €130 | €135 | +€5 | +4.1% |
| Recurring financial income | 75 | €130 | €135 | +€5 | +4.1% |
| Financial charges | 65/66B | €6,291 | €3,149 | -€3,142 | -49.9% |
| Recurring financial charges | 65 | €6,291 | €3,149 | -€3,142 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €135,607 | €113,247 | -€22,360 | -16.5% |
| Transfer from deferred taxes | 780 | €1,324 | €1,667 | +€343 | +25.9% |
| Income taxes | 67/77 | €45,542 | €38,511 | -€7,030 | -15.4% |
| Profit (loss) for the period | 9904 | €91,390 | €76,403 | -€14,987 | -16.4% |
| Transfer from tax-exempt reserves | 789 | €3,973 | €5,001 | +€1,028 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,363 | €81,404 | -€13,959 | -14.6% |
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 2 October 2026 via checked.be.