Gervanimmo: 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.
Gervanimmo
Largest movements
- Receivables within one year -€339,134
down €339,134 (-18.1%), from €1.9m to €1.5m
of which Other amounts receivable: -€363,584
- Tangible fixed assets +€273,445
up €273,445 (+18.9%), from €1.4m to €1.7m
of which Land and buildings: +€289,323
- Cash -€66,528
down €66,528 (-87.8%), from €75,743 to €9,215
mainly Investment in fixed assets (net) (-€396,935) and Debts after one year (-€200,000)
- Debts after one year -€200,000
down €200,000 (-34.1%), from €586,157 to €386,157
- Reserves +€127,404
up €127,404 (+8.3%), from €1.5m to €1.7m
of which Distributable reserves: +€147,578
- Provisions -€85,964
down €85,964 (-44.1%), from €195,121 to €109,157
of which Provisions for liabilities and charges: -€79,240
- Trade debts -€40,359
down €40,359 (-82.2%), from €49,116 to €8,756
- Gross operating margin +€107,870
up €107,870 (+20.4%), from €528,604 to €636,474
- Provisions -€79,240
new in 2025: -€79,240
- Taxes +€32,771
up €32,771 (+117.0%), from €28,012 to €60,783
- Staff costs +€28,348
up €28,348 (+14.6%), from €194,782 to €223,130
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 | €3,399,479 | €3,267,262 | -€132,217 | -3.9% |
| Fixed assets | 21/28 | €1,449,308 | €1,722,753 | +€273,445 | +18.9% |
| Tangible fixed assets | 22/27 | €1,449,184 | €1,722,629 | +€273,445 | +18.9% |
| Land and buildings | 22 | €1,370,112 | €1,659,435 | +€289,323 | +21.1% |
| Plant, machinery and equipment | 23 | €28,573 | €24,455 | -€4,118 | -14.4% |
| Furniture and vehicles | 24 | €50,499 | €38,740 | -€11,760 | -23.3% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €1,950,171 | €1,544,509 | -€405,662 | -20.8% |
| Amounts receivable within one year | 40/41 | €1,874,428 | €1,535,294 | -€339,134 | -18.1% |
| Trade receivables | 40 | €41,462 | €65,912 | +€24,450 | +59.0% |
| Other amounts receivable | 41 | €1,832,966 | €1,469,383 | -€363,584 | -19.8% |
| Cash at bank and in hand | 54/58 | €75,743 | €9,215 | -€66,528 | -87.8% |
| Total equity and liabilities | 10/49 | €3,399,479 | €3,267,262 | -€132,217 | -3.9% |
| Equity | 10/15 | €1,588,230 | €1,715,634 | +€127,404 | +8.0% |
| Contributions | 10/11 | €55,610 | €55,610 | = | 0.0% |
| Reserves | 13 | €1,532,620 | €1,660,024 | +€127,404 | +8.3% |
| Tax-exempt reserves | 132 | €121,872 | €101,698 | -€20,173 | -16.6% |
| Distributable reserves | 133 | €1,410,748 | €1,558,326 | +€147,578 | +10.5% |
| Provisions and deferred taxes | 16 | €195,121 | €109,157 | -€85,964 | -44.1% |
| Provisions for liabilities and charges | 160/5 | €155,180 | €75,940 | -€79,240 | -51.1% |
| Major repairs and maintenance | 162 | €155,180 | €75,940 | -€79,240 | -51.1% |
| Deferred taxes | 168 | €39,941 | €33,217 | -€6,724 | -16.8% |
| Amounts payable | 17/49 | €1,616,128 | €1,442,471 | -€173,657 | -10.7% |
| Amounts payable after more than one year | 17 | €586,157 | €386,157 | -€200,000 | -34.1% |
| Financial debts | 170/4 | €586,157 | €386,157 | -€200,000 | -34.1% |
| Amounts payable within one year | 42/48 | €1,020,142 | €1,031,997 | +€11,855 | +1.2% |
| Trade debts | 44 | €49,116 | €8,756 | -€40,359 | -82.2% |
| Suppliers | 440/4 | €49,116 | €8,756 | -€40,359 | -82.2% |
| Advances received on contracts in progress | 46 | - | €30,974 | +€30,974 | |
| Taxes, remuneration and social security | 45 | €44,005 | €69,105 | +€25,101 | +57.0% |
| Taxes | 450/3 | €11,106 | €35,366 | +€24,260 | +218.4% |
| Remuneration and social security | 454/9 | €32,899 | €33,740 | +€841 | +2.6% |
| Other amounts payable | 47/48 | €927,022 | €923,160 | -€3,861 | -0.4% |
| Accrued charges and deferred income | 492/3 | €9,829 | €24,318 | +€14,489 | +147.4% |
| Non-recurring operating income | 76A | €2,350 | €3,892 | +€1,542 | +65.6% |
| Remuneration, social security and pensions | 62 | €194,782 | €223,130 | +€28,348 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,162 | €123,489 | +€1,327 | +1.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€79,240 | -€79,240 | |
| Other operating charges | 640/8 | €134,429 | €136,464 | +€2,035 | +1.5% |
| Non-recurring operating charges | 66A | €113 | - | -€113 | |
| Gross operating margin | 9900 | €528,604 | €636,474 | +€107,870 | +20.4% |
| Operating profit (loss) | 9901 | €77,118 | €232,631 | +€155,513 | +201.7% |
| Financial income | 75/76B | €1,719 | - | -€1,719 | |
| Recurring financial income | 75 | €1,719 | - | -€1,719 | |
| Financial charges | 65/66B | €56,971 | €51,168 | -€5,803 | -10.2% |
| Recurring financial charges | 65 | €56,971 | €51,168 | -€5,803 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €21,866 | €181,463 | +€159,596 | +729.9% |
| Transfer from deferred taxes | 780 | €6,724 | €6,724 | = | 0.0% |
| Income taxes | 67/77 | €28,012 | €60,783 | +€32,771 | +117.0% |
| Profit (loss) for the period | 9904 | €579 | €127,404 | +€126,826 | +21915.6% |
| Transfer from tax-exempt reserves | 789 | €20,173 | €20,173 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,752 | €147,578 | +€126,826 | +611.2% |
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 12 October 2026 via checked.be.