GFC 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.
GFC IMMO
Largest movements
- Tangible fixed assets -€49,387
down €49,387 (-4.0%), from €1.2m to €1.2m
of which Land and buildings: -€49,387
- Receivables within one year +€18,407
up €18,407 (+796.7%), from €2,311 to €20,718
of which Other amounts receivable: +€18,155
- Cash -€17,427
down €17,427 (-48.9%), from €35,666 to €18,239
mainly Contributions, distributions and other (-€142,600) and Debts after one year (-€76,717)
- Other debts +€127,960
up €127,960 (+49.7%), from €257,550 to €385,510
- Reserves -€97,600
down €97,600 (-100.0%), from €97,600 to €0
- Debts after one year -€76,717
down €76,717 (-13.0%), from €591,956 to €515,239
of which Financial debts: -€76,717
- Gross operating margin -€71,148
down €71,148 (-30.6%), from €232,737 to €161,589
- Taxes -€17,455
down €17,455 (-53.7%), from €32,495 to €15,040
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 | €1,272,441 | €1,224,080 | -€48,361 | -3.8% |
| Fixed assets | 21/28 | €1,233,495 | €1,184,108 | -€49,387 | -4.0% |
| Tangible fixed assets | 22/27 | €1,233,495 | €1,184,108 | -€49,387 | -4.0% |
| Land and buildings | 22 | €1,233,495 | €1,184,108 | -€49,387 | -4.0% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Current assets | 29/58 | €38,946 | €39,972 | +€1,026 | +2.6% |
| Amounts receivable within one year | 40/41 | €2,311 | €20,718 | +€18,407 | +796.7% |
| Trade receivables | 40 | €0 | €252 | +€252 | |
| Other amounts receivable | 41 | €2,311 | €20,466 | +€18,155 | +785.8% |
| Cash at bank and in hand | 54/58 | €35,666 | €18,239 | -€17,427 | -48.9% |
| Deferred charges and accrued income | 490/1 | €970 | €1,015 | +€45 | +4.7% |
| Total equity and liabilities | 10/49 | €1,272,441 | €1,224,080 | -€48,361 | -3.8% |
| Equity | 10/15 | €337,639 | €240,159 | -€97,480 | -28.9% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €97,600 | €0 | -€97,600 | -100.0% |
| Distributable reserves | 133 | €97,600 | €0 | -€97,600 | -100.0% |
| Profit (loss) carried forward | 14 | €39 | €159 | +€120 | +303.9% |
| Amounts payable | 17/49 | €934,802 | €983,921 | +€49,119 | +5.3% |
| Amounts payable after more than one year | 17 | €591,956 | €515,239 | -€76,717 | -13.0% |
| Financial debts | 170/4 | €591,956 | €515,239 | -€76,717 | -13.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €342,845 | €468,681 | +€125,836 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €74,316 | €76,717 | +€2,401 | +3.2% |
| Trade debts | 44 | €0 | €545 | +€545 | |
| Suppliers | 440/4 | €0 | €545 | +€545 | |
| Taxes, remuneration and social security | 45 | €10,979 | €5,910 | -€5,069 | -46.2% |
| Taxes | 450/3 | €10,979 | €5,910 | -€5,069 | -46.2% |
| Other amounts payable | 47/48 | €257,550 | €385,510 | +€127,960 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,387 | €49,387 | = | 0.0% |
| Other operating charges | 640/8 | €30,664 | €31,627 | +€963 | +3.1% |
| Gross operating margin | 9900 | €232,737 | €161,589 | -€71,148 | -30.6% |
| Operating profit (loss) | 9901 | €152,686 | €80,575 | -€72,111 | -47.2% |
| Financial charges | 65/66B | €22,708 | €20,415 | -€2,293 | -10.1% |
| Recurring financial charges | 65 | €22,708 | €20,415 | -€2,293 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €129,978 | €60,160 | -€69,819 | -53.7% |
| Income taxes | 67/77 | €32,495 | €15,040 | -€17,455 | -53.7% |
| Profit (loss) for the period | 9904 | €97,484 | €45,120 | -€52,364 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €97,484 | €45,120 | -€52,364 | -53.7% |
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 3 October 2026 via checked.be.