GESFIMMO: 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.
GESFIMMO
Largest movements
- Tangible fixed assets -€73,699
down €73,699 (-5.4%), from €1.4m to €1.3m
of which Land and buildings: -€62,745
- Profit (loss) carried forward -€31,711
down €31,711 (-24.8%), from €127,861 to €96,150
- Debts after one year -€29,546
down €29,546 (-8.6%), from €344,307 to €314,761
- Gross operating margin +€11,222
up €11,222 (+31.6%), from €35,513 to €46,735
- Other operating charges +€1,952
up €1,952 (+76.4%), from €2,556 to €4,508
- Financial charges -€567
down €567 (-5.8%), from €9,786 to €9,219
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 | €1,366,057 | €1,295,706 | -€70,351 | -5.1% |
| Fixed assets | 21/28 | €1,363,143 | €1,289,444 | -€73,699 | -5.4% |
| Tangible fixed assets | 22/27 | €1,363,143 | €1,289,444 | -€73,699 | -5.4% |
| Land and buildings | 22 | €1,339,245 | €1,276,500 | -€62,745 | -4.7% |
| Furniture and vehicles | 24 | €23,898 | €12,944 | -€10,954 | -45.8% |
| Current assets | 29/58 | €2,914 | €6,262 | +€3,348 | +114.9% |
| Cash at bank and in hand | 54/58 | €1,833 | €1,645 | -€188 | -10.3% |
| Deferred charges and accrued income | 490/1 | €1,081 | €4,617 | +€3,536 | +327.1% |
| Total equity and liabilities | 10/49 | €1,366,057 | €1,295,706 | -€70,351 | -5.1% |
| Equity | 10/15 | €641,358 | €602,912 | -€38,446 | -6.0% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €163,497 | €156,762 | -€6,735 | -4.1% |
| Tax-exempt reserves | 132 | €128,497 | €121,762 | -€6,735 | -5.2% |
| Distributable reserves | 133 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,861 | €96,150 | -€31,711 | -24.8% |
| Provisions and deferred taxes | 16 | €42,832 | €40,587 | -€2,245 | -5.2% |
| Deferred taxes | 168 | €42,832 | €40,587 | -€2,245 | -5.2% |
| Amounts payable | 17/49 | €681,867 | €652,207 | -€29,660 | -4.3% |
| Amounts payable after more than one year | 17 | €344,307 | €314,761 | -€29,546 | -8.6% |
| Financial debts | 170/4 | €344,307 | €314,761 | -€29,546 | -8.6% |
| Amounts payable within one year | 42/48 | €337,560 | €334,546 | -€3,014 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €40,004 | €40,005 | +€1 | 0.0% |
| Trade debts | 44 | €749 | €834 | +€85 | +11.3% |
| Suppliers | 440/4 | €749 | €834 | +€85 | +11.3% |
| Other amounts payable | 47/48 | €296,807 | €293,707 | -€3,100 | -1.0% |
| Accrued charges and deferred income | 492/3 | - | €2,900 | +€2,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,099 | €73,699 | -€400 | -0.5% |
| Other operating charges | 640/8 | €2,556 | €4,508 | +€1,952 | +76.4% |
| Gross operating margin | 9900 | €35,513 | €46,735 | +€11,222 | +31.6% |
| Operating profit (loss) | 9901 | -€41,142 | -€31,472 | +€9,670 | +23.5% |
| Financial charges | 65/66B | €9,786 | €9,219 | -€567 | -5.8% |
| Recurring financial charges | 65 | €9,786 | €9,219 | -€567 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€50,928 | -€40,691 | +€10,237 | +20.1% |
| Transfer from deferred taxes | 780 | €2,245 | €2,245 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€48,683 | -€38,446 | +€10,237 | +21.0% |
| Transfer from tax-exempt reserves | 789 | €6,735 | €6,735 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,948 | -€31,711 | +€10,237 | +24.4% |
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 4 October 2026 via checked.be.