GL-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.
GL-IMMO
Largest movements
- Stocks and contracts -€616,646
down €616,646 (-61.3%), from €1.0m to €388,508
- Cash -€84,226
down €84,226 (-18.5%), from €455,506 to €371,280
mainly Other debts (-€242,610) and Short-term financial debts (-€178,600)
- Receivables within one year -€69,522
no longer reported in 2025 (was €69,522)
- Other debts -€242,610
down €242,610 (-10.4%), from €2.3m to €2.1m
- Short-term financial debts -€178,600
no longer reported in 2025 (was €178,600)
- Profit (loss) carried forward -€155,751
down €155,751 (-10.3%), from -€1.5m to -€1.7m
- Tax, wage and social debts -€99,795
down €99,795 (-56.5%), from €176,734 to €76,939
- Trade debts -€96,036
down €96,036 (-58.2%), from €165,126 to €69,090
- Gross operating margin -€316,738
down €316,738, from €232,955 to -€83,783
- Financial charges -€55,809
down €55,809 (-44.6%), from €125,218 to €69,409
- Other operating charges -€20,849
down €20,849 (-99.2%), from €21,011 to €162
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 | €1,534,978 | €762,186 | -€772,792 | -50.3% |
| Fixed assets | 21/28 | €4,796 | €2,398 | -€2,398 | -50.0% |
| Tangible fixed assets | 22/27 | €4,796 | €2,398 | -€2,398 | -50.0% |
| Furniture and vehicles | 24 | €4,796 | €2,398 | -€2,398 | -50.0% |
| Current assets | 29/58 | €1,530,182 | €759,788 | -€770,394 | -50.3% |
| Stocks and contracts in progress | 3 | €1,005,154 | €388,508 | -€616,646 | -61.3% |
| Stocks | 30/36 | €1,005,154 | €388,508 | -€616,646 | -61.3% |
| Amounts receivable within one year | 40/41 | €69,522 | - | -€69,522 | |
| Trade receivables | 40 | €69,522 | - | -€69,522 | |
| Cash at bank and in hand | 54/58 | €455,506 | €371,280 | -€84,226 | -18.5% |
| Total equity and liabilities | 10/49 | €1,534,978 | €762,186 | -€772,792 | -50.3% |
| Equity | 10/15 | -€1,321,696 | -€1,477,448 | -€155,751 | -11.8% |
| Contributions | 10/11 | €185,920 | €185,920 | = | 0.0% |
| Capital | 10 | €185,920 | €185,920 | = | 0.0% |
| Issued capital | 100 | €185,920 | €185,920 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,507,616 | -€1,663,368 | -€155,751 | -10.3% |
| Amounts payable | 17/49 | €2,856,674 | €2,239,633 | -€617,041 | -21.6% |
| Amounts payable within one year | 42/48 | €2,856,674 | €2,239,633 | -€617,041 | -21.6% |
| Financial debts | 43 | €178,600 | - | -€178,600 | |
| Credit institutions | 430/8 | €178,600 | - | -€178,600 | |
| Trade debts | 44 | €165,126 | €69,090 | -€96,036 | -58.2% |
| Suppliers | 440/4 | €165,126 | €69,090 | -€96,036 | -58.2% |
| Taxes, remuneration and social security | 45 | €176,734 | €76,939 | -€99,795 | -56.5% |
| Taxes | 450/3 | €176,734 | €76,939 | -€99,795 | -56.5% |
| Other amounts payable | 47/48 | €2,336,215 | €2,093,605 | -€242,610 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,398 | €2,398 | = | 0.0% |
| Other operating charges | 640/8 | €21,011 | €162 | -€20,849 | -99.2% |
| Gross operating margin | 9900 | €232,955 | -€83,783 | -€316,738 | |
| Operating profit (loss) | 9901 | €209,547 | -€86,343 | -€295,890 | |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Non-recurring financial income | 76B | €3 | - | -€3 | |
| Financial charges | 65/66B | €125,218 | €69,409 | -€55,809 | -44.6% |
| Recurring financial charges | 65 | €125,218 | €69,409 | -€55,809 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €84,333 | -€155,751 | -€240,084 | |
| Profit (loss) for the period | 9904 | €84,333 | -€155,751 | -€240,084 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,333 | -€155,751 | -€240,084 |
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.