GERE-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.
GERE-IMMO
Largest movements
- Tangible fixed assets -€44,922
down €44,922 (-6.6%), from €684,833 to €639,911
of which Land and buildings: -€44,543
- Cash +€25,418
up €25,418 (+54.4%), from €46,712 to €72,130
mainly Depreciation (+€65,756) and Other debts (+€62,600)
- Other debts +€62,600
up €62,600 (+512.0%), from €12,226 to €74,826
- Debts after one year -€53,790
down €53,790 (-38.8%), from €138,629 to €84,839
of which Financial debts: -€52,510
- Reserves -€13,597
down €13,597 (-4.4%), from €310,460 to €296,864
of which Distributable reserves: -€13,597
- Tax, wage and social debts -€8,848
no longer reported in 2025 (was €8,848)
- Gross operating margin +€13,468
up €13,468 (+9.1%), from €148,775 to €162,243
- Taxes +€4,954
up €4,954 (+26.3%), from €18,848 to €23,801
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 | €736,430 | €718,442 | -€17,988 | -2.4% |
| Fixed assets | 21/28 | €684,903 | €639,981 | -€44,922 | -6.6% |
| Tangible fixed assets | 22/27 | €684,833 | €639,911 | -€44,922 | -6.6% |
| Land and buildings | 22 | €683,480 | €638,937 | -€44,543 | -6.5% |
| Plant, machinery and equipment | 23 | €1,352 | €974 | -€379 | -28.0% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €51,527 | €78,461 | +€26,934 | +52.3% |
| Amounts receivable within one year | 40/41 | - | €1,199 | +€1,199 | |
| Other amounts receivable | 41 | - | €1,199 | +€1,199 | |
| Cash at bank and in hand | 54/58 | €46,712 | €72,130 | +€25,418 | +54.4% |
| Deferred charges and accrued income | 490/1 | €4,815 | €5,132 | +€317 | +6.6% |
| Total equity and liabilities | 10/49 | €736,430 | €718,442 | -€17,988 | -2.4% |
| Equity | 10/15 | €517,460 | €503,864 | -€13,597 | -2.6% |
| Contributions | 10/11 | €207,000 | €207,000 | = | 0.0% |
| Capital | 10 | €207,000 | €207,000 | = | 0.0% |
| Issued capital | 100 | €207,000 | €207,000 | = | 0.0% |
| Reserves | 13 | €310,460 | €296,864 | -€13,597 | -4.4% |
| Non-distributable reserves | 130/1 | €20,700 | €20,700 | = | 0.0% |
| Legal reserve | 130 | €20,700 | €20,700 | = | 0.0% |
| Distributable reserves | 133 | €289,760 | €276,164 | -€13,597 | -4.7% |
| Amounts payable | 17/49 | €218,970 | €214,578 | -€4,391 | -2.0% |
| Amounts payable after more than one year | 17 | €138,629 | €84,839 | -€53,790 | -38.8% |
| Financial debts | 170/4 | €123,144 | €70,634 | -€52,510 | -42.6% |
| Other amounts payable | 178/9 | €15,485 | €14,205 | -€1,280 | -8.3% |
| Amounts payable within one year | 42/48 | €77,211 | €128,525 | +€51,314 | +66.5% |
| Current portion of amounts payable after more than one year | 42 | €55,539 | €52,510 | -€3,029 | -5.5% |
| Trade debts | 44 | €598 | €1,189 | +€591 | +98.8% |
| Suppliers | 440/4 | €598 | €1,189 | +€591 | +98.8% |
| Taxes, remuneration and social security | 45 | €8,848 | - | -€8,848 | |
| Taxes | 450/3 | €8,848 | - | -€8,848 | |
| Other amounts payable | 47/48 | €12,226 | €74,826 | +€62,600 | +512.0% |
| Accrued charges and deferred income | 492/3 | €3,130 | €1,215 | -€1,915 | -61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,370 | €65,756 | -€1,614 | -2.4% |
| Other operating charges | 640/8 | €17,725 | €18,278 | +€553 | +3.1% |
| Gross operating margin | 9900 | €148,775 | €162,243 | +€13,468 | +9.1% |
| Operating profit (loss) | 9901 | €63,680 | €78,208 | +€14,528 | +22.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,419 | €3,004 | -€1,415 | -32.0% |
| Recurring financial charges | 65 | €4,419 | €3,004 | -€1,415 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €59,261 | €75,205 | +€15,943 | +26.9% |
| Income taxes | 67/77 | €18,848 | €23,801 | +€4,954 | +26.3% |
| Profit (loss) for the period | 9904 | €40,414 | €51,403 | +€10,989 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,414 | €51,403 | +€10,989 | +27.2% |
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 28 September 2026 via checked.be.