GIC DLW: 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.
What changed
GIC DLW
NACE 68.310, Real estate agency activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10,646
2024 · €9,722+€924
Equity
€6,171
2024 · -€4,475+€10,646
Cash
€21,621
2024 · €19,017+€2,604
Balance sheet total
€457,057
2024 · €496,861-€39,804
Largest movements
Assets
- Tangible fixed assets -€50,594
down €50,594 (-13.1%), from €386,946 to €336,352
- Receivables within one year +€10,000
up €10,000 (+23.5%), from €42,586 to €52,586
Equity and liabilities
- Debts after one year -€48,576
down €48,576 (-13.9%), from €349,853 to €301,277
of which Financial debts: -€48,576
- Accrued charges and deferred income +€17,784
new in 2025: €17,784
- Profit (loss) carried forward +€10,646
up €10,646 (+10.3%), from -€103,383 to -€92,737
- Tax, wage and social debts -€7,522
down €7,522 (-46.3%), from €16,241 to €8,719
- Other debts -€7,000
down €7,000 (-10.1%), from €69,058 to €62,058
Income statement
- Other operating charges -€1,018
down €1,018 (-8.1%), from €12,501 to €11,483
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.
Result 2024
€9,722
Gross operating margin
+€523
Depreciation
+€730
Other operating charges
+€1,018
Financial income
-€106
Financial charges
+€262
Taxes
-€698
Deferred taxes and other
-€806
Result 2025
€10,646
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.
From operations
+€52,029
Investment
€0
Financing
-€49,425
Cash 2024
€19,017
From operations (derived)
+€52,029
Net result for the year
+€10,646
Depreciation
+€52,835
Receivables within one year
-€10,000
Deferred charges and accrued income
-€426
Trade debts
-€4,288
Tax, wage and social debts
-€7,522
Other debts
-€7,000
Accrued charges and deferred income
+€17,784
Financing
-€49,425
Debts after one year
-€48,576
Current portion of long-term debt
-€867
Short-term financial debts
+€18
Cash 2025
€21,621
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €496,861 | €457,057 | -€39,804 | -8.0% |
| Fixed assets | 21/28 | €434,025 | €381,190 | -€52,835 | -12.2% |
| Intangible fixed assets | 21 | €4,295 | €2,054 | -€2,241 | -52.2% |
| Tangible fixed assets | 22/27 | €386,946 | €336,352 | -€50,594 | -13.1% |
| Land and buildings | 22 | €386,946 | €336,352 | -€50,594 | -13.1% |
| Financial fixed assets | 28 | €42,784 | €42,784 | = | 0.0% |
| Current assets | 29/58 | €62,836 | €75,866 | +€13,031 | +20.7% |
| Amounts receivable within one year | 40/41 | €42,586 | €52,586 | +€10,000 | +23.5% |
| Other amounts receivable | 41 | €42,586 | €52,586 | +€10,000 | +23.5% |
| Cash at bank and in hand | 54/58 | €19,017 | €21,621 | +€2,604 | +13.7% |
| Deferred charges and accrued income | 490/1 | €1,233 | €1,660 | +€426 | +34.6% |
| Total equity and liabilities | 10/49 | €496,861 | €457,057 | -€39,804 | -8.0% |
| Equity | 10/15 | -€4,475 | €6,171 | +€10,646 | |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €17,103 | €17,103 | = | 0.0% |
| Reserves | 13 | €6,805 | €6,805 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,805 | €6,805 | = | 0.0% |
| Legal reserve | 130 | €6,805 | €6,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,383 | -€92,737 | +€10,646 | +10.3% |
| Amounts payable | 17/49 | €501,336 | €450,886 | -€50,450 | -10.1% |
| Amounts payable after more than one year | 17 | €349,853 | €301,277 | -€48,576 | -13.9% |
| Financial debts | 170/4 | €149,853 | €101,277 | -€48,576 | -32.4% |
| Other amounts payable | 178/9 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €151,483 | €131,825 | -€19,658 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €49,443 | €48,576 | -€867 | -1.8% |
| Financial debts | 43 | - | €18 | +€18 | |
| Credit institutions | 430/8 | - | €18 | +€18 | |
| Trade debts | 44 | €16,741 | €12,454 | -€4,288 | -25.6% |
| Suppliers | 440/4 | €5,774 | €186 | -€5,587 | -96.8% |
| Bills of exchange payable | 441 | €10,968 | €12,268 | +€1,300 | +11.8% |
| Taxes, remuneration and social security | 45 | €16,241 | €8,719 | -€7,522 | -46.3% |
| Taxes | 450/3 | €16,241 | €8,719 | -€7,522 | -46.3% |
| Other amounts payable | 47/48 | €69,058 | €62,058 | -€7,000 | -10.1% |
| Accrued charges and deferred income | 492/3 | - | €17,784 | +€17,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,565 | €52,835 | -€730 | -1.4% |
| Other operating charges | 640/8 | €12,501 | €11,483 | -€1,018 | -8.1% |
| Gross operating margin | 9900 | €81,761 | €82,283 | +€523 | +0.6% |
| Operating profit (loss) | 9901 | €15,694 | €17,965 | +€2,271 | +14.5% |
| Financial income | 75/76B | €106 | - | -€106 | |
| Recurring financial income | 75 | €106 | - | -€106 | |
| Financial charges | 65/66B | €3,688 | €3,426 | -€262 | -7.1% |
| Recurring financial charges | 65 | €3,688 | €3,426 | -€262 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €12,113 | €14,540 | +€2,427 | +20.0% |
| Transfer from deferred taxes | 780 | €806 | - | -€806 | |
| Income taxes | 67/77 | €3,196 | €3,894 | +€698 | +21.8% |
| Profit (loss) for the period | 9904 | €9,722 | €10,646 | +€924 | +9.5% |
| Transfer from tax-exempt reserves | 789 | €1,612 | - | -€1,612 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,334 | €10,646 | -€688 | -6.1% |
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 9 October 2026 via checked.be.