GERDEFIMMO: 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.
GERDEFIMMO
Largest movements
- Tangible fixed assets -€41,549
down €41,549 (-4.3%), from €969,593 to €928,044
- Cash +€12,391
up €12,391 (+46.9%), from €26,395 to €38,785
mainly Depreciation (+€44,895) and Receivables within one year (+€10,879)
- Receivables within one year -€10,879
down €10,879 (-61.5%), from €17,681 to €6,802
of which Trade receivables: -€15,029
- Debts after one year -€52,505
down €52,505 (-8.8%), from €596,696 to €544,191
of which Financial debts: -€49,355
- Other operating charges +€15,191
up €15,191 (+287.5%), from €5,285 to €20,476
- Gross operating margin +€13,546
up €13,546 (+16.2%), from €83,578 to €97,124
- Financial charges +€6,424
up €6,424 (+23.2%), from €27,651 to €34,075
- Taxes -€1,638
no longer reported in 2025 (was €1,638)
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 | €1,015,080 | €975,080 | -€40,000 | -3.9% |
| Fixed assets | 21/28 | €969,593 | €928,044 | -€41,549 | -4.3% |
| Tangible fixed assets | 22/27 | €969,593 | €928,044 | -€41,549 | -4.3% |
| Land and buildings | 22 | €969,593 | €928,044 | -€41,549 | -4.3% |
| Current assets | 29/58 | €45,488 | €47,036 | +€1,548 | +3.4% |
| Amounts receivable within one year | 40/41 | €17,681 | €6,802 | -€10,879 | -61.5% |
| Trade receivables | 40 | €16,320 | €1,290 | -€15,029 | -92.1% |
| Other amounts receivable | 41 | €1,362 | €5,512 | +€4,150 | +304.8% |
| Cash at bank and in hand | 54/58 | €26,395 | €38,785 | +€12,391 | +46.9% |
| Deferred charges and accrued income | 490/1 | €1,412 | €1,448 | +€36 | +2.6% |
| Total equity and liabilities | 10/49 | €1,015,080 | €975,080 | -€40,000 | -3.9% |
| Equity | 10/15 | €221,825 | €219,503 | -€2,322 | -1.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €21,825 | €19,503 | -€2,322 | -10.6% |
| Distributable reserves | 133 | €21,825 | €19,503 | -€2,322 | -10.6% |
| Amounts payable | 17/49 | €793,256 | €755,577 | -€37,679 | -4.7% |
| Amounts payable after more than one year | 17 | €596,696 | €544,191 | -€52,505 | -8.8% |
| Financial debts | 170/4 | €407,271 | €357,916 | -€49,355 | -12.1% |
| Other amounts payable | 178/9 | €189,425 | €186,275 | -€3,150 | -1.7% |
| Amounts payable within one year | 42/48 | €175,005 | €186,167 | +€11,162 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €48,300 | €49,355 | +€1,056 | +2.2% |
| Trade debts | 44 | €1,519 | €5,478 | +€3,959 | +260.7% |
| Suppliers | 440/4 | €1,519 | €5,478 | +€3,959 | +260.7% |
| Taxes, remuneration and social security | 45 | €2,342 | - | -€2,342 | |
| Taxes | 450/3 | €2,342 | - | -€2,342 | |
| Other amounts payable | 47/48 | €122,845 | €131,335 | +€8,489 | +6.9% |
| Accrued charges and deferred income | 492/3 | €21,555 | €25,219 | +€3,664 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,090 | €44,895 | +€805 | +1.8% |
| Other operating charges | 640/8 | €5,285 | €20,476 | +€15,191 | +287.5% |
| Gross operating margin | 9900 | €83,578 | €97,124 | +€13,546 | +16.2% |
| Operating profit (loss) | 9901 | €34,204 | €31,753 | -€2,450 | -7.2% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €27,651 | €34,075 | +€6,424 | +23.2% |
| Recurring financial charges | 65 | €27,651 | €34,075 | +€6,424 | +23.2% |
| Profit (loss) for the period before taxes | 9903 | €6,554 | -€2,322 | -€8,875 | |
| Income taxes | 67/77 | €1,638 | - | -€1,638 | |
| Profit (loss) for the period | 9904 | €4,915 | -€2,322 | -€7,237 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,915 | -€2,322 | -€7,237 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.