GIC 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.
GIC IMMO
Largest movements
- Receivables within one year -€18,702
down €18,702 (-12.6%), from €147,871 to €129,170
of which Trade receivables: -€13,579
- Tangible fixed assets -€5,427
no longer reported in 2025 (was €5,427)
of which Furniture and vehicles: -€2,868
- Cash -€2,477
down €2,477 (-8.7%), from €28,368 to €25,890
mainly Debts after one year (-€30,000) and Contributions, distributions and other (-€13,250)
- Deferred charges and accrued income +€2,052
up €2,052 (+94.4%), from €2,173 to €4,225
- Debts after one year -€30,000
no longer reported in 2025 (was €30,000)
- Tax, wage and social debts +€7,649
up €7,649 (+14.4%), from €53,120 to €60,768
of which Remuneration and social security: +€16,453
- Trade debts -€3,519
down €3,519 (-11.3%), from €31,096 to €27,577
- Current portion of long-term debt -€3,235
no longer reported in 2025 (was €3,235)
- Profit (loss) carried forward +€2,718
up €2,718 (+3.1%), from -€86,778 to -€84,060
- Gross operating margin +€165,945
up €165,945 (+143.3%), from €115,784 to €281,729
- Staff costs +€66,703
up €66,703 (+35.8%), from €186,504 to €253,207
- Depreciation -€5,280
down €5,280 (-67.4%), from €7,838 to €2,559
- Financial charges +€3,396
up €3,396 (+60.2%), from €5,639 to €9,035
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 | €183,838 | €159,285 | -€24,554 | -13.4% |
| Fixed assets | 21/28 | €5,427 | - | -€5,427 | |
| Tangible fixed assets | 22/27 | €5,427 | - | -€5,427 | |
| Plant, machinery and equipment | 23 | €141 | - | -€141 | |
| Furniture and vehicles | 24 | €2,868 | - | -€2,868 | |
| Leasing and similar rights | 25 | €2,418 | - | -€2,418 | |
| Current assets | 29/58 | €178,412 | €159,285 | -€19,127 | -10.7% |
| Amounts receivable within one year | 40/41 | €147,871 | €129,170 | -€18,702 | -12.6% |
| Trade receivables | 40 | €142,382 | €128,803 | -€13,579 | -9.5% |
| Other amounts receivable | 41 | €5,489 | €367 | -€5,123 | -93.3% |
| Cash at bank and in hand | 54/58 | €28,368 | €25,890 | -€2,477 | -8.7% |
| Deferred charges and accrued income | 490/1 | €2,173 | €4,225 | +€2,052 | +94.4% |
| Total equity and liabilities | 10/49 | €183,838 | €159,285 | -€24,554 | -13.4% |
| Equity | 10/15 | €23,997 | €26,715 | +€2,718 | +11.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €85,775 | €85,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €83,275 | €83,275 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€86,778 | -€84,060 | +€2,718 | +3.1% |
| Amounts payable | 17/49 | €159,841 | €132,570 | -€27,271 | -17.1% |
| Amounts payable after more than one year | 17 | €30,000 | - | -€30,000 | |
| Other amounts payable | 178/9 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €129,841 | €132,570 | +€2,729 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €3,235 | - | -€3,235 | |
| Trade debts | 44 | €31,096 | €27,577 | -€3,519 | -11.3% |
| Suppliers | 440/4 | €31,096 | €27,577 | -€3,519 | -11.3% |
| Taxes, remuneration and social security | 45 | €53,120 | €60,768 | +€7,649 | +14.4% |
| Taxes | 450/3 | €27,150 | €18,345 | -€8,805 | -32.4% |
| Remuneration and social security | 454/9 | €25,970 | €42,423 | +€16,453 | +63.4% |
| Other amounts payable | 47/48 | €42,391 | €44,224 | +€1,834 | +4.3% |
| Non-recurring operating income | 76A | - | €5,397 | +€5,397 | |
| Remuneration, social security and pensions | 62 | €186,504 | €253,207 | +€66,703 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,838 | €2,559 | -€5,280 | -67.4% |
| Other operating charges | 640/8 | €2,510 | €975 | -€1,534 | -61.1% |
| Gross operating margin | 9900 | €115,784 | €281,729 | +€165,945 | +143.3% |
| Operating profit (loss) | 9901 | -€81,068 | €24,988 | +€106,056 | |
| Financial income | 75/76B | €3 | €15 | +€12 | +481.6% |
| Recurring financial income | 75 | €3 | €15 | +€12 | +481.6% |
| Financial charges | 65/66B | €5,639 | €9,035 | +€3,396 | +60.2% |
| Recurring financial charges | 65 | €5,639 | €9,035 | +€3,396 | +60.2% |
| Profit (loss) for the period before taxes | 9903 | -€86,704 | €15,968 | +€102,672 | |
| Income taxes | 67/77 | €74 | - | -€74 | |
| Profit (loss) for the period | 9904 | -€86,778 | €15,968 | +€102,746 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,778 | €15,968 | +€102,746 |
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 6 October 2026 via checked.be.