GL PROPERTIES: 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
GL PROPERTIES
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€231,445
2024 · €5.8m-€5.5m
Equity
€8.0m
2024 · €7.7m+€231,445
Cash
€113,519
2024 · €128,494-€14,975
Balance sheet total
€8.1m
2024 · €7.9m+€161,802
Largest movements
Assets
- Receivables within one year +€224,805
up €224,805 (+3.0%), from €7.5m to €7.7m
of which Other amounts receivable: +€223,489
Equity and liabilities
- Profit (loss) carried forward +€231,445
up €231,445 (+3.1%), from €7.6m to €7.8m
Income statement
- Financial income -€7.3m
down €7.3m (-97.1%), from €7.5m to €220,990
of which Non-recurring financial income: -€7.2m
- Financial charges -€2.1m
down €2.1m (-99.6%), from €2.1m to €8,035
of which Non-recurring financial charges: -€1.6m
- Turnover -€491,883
down €491,883 (-78.5%), from €626,872 to €134,989
- Services and other goods -€189,087
down €189,087 (-74.5%), from €253,686 to €64,599
- Other operating income -€6,567
down €6,567 (-27.9%), from €23,542 to €16,974
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
€5.8m
Turnover
-€491,883
Other operating income
-€6,567
Services and other goods
+€189,087
Other operating charges
+€1,366
Financial income
-€7.3m
Financial charges
+€2.1m
Result 2025
€231,445
raises the resultlowers the result
Derived cash bridge
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
+€47,379
Investment
+€1
Financing
-€62,355
Cash 2024
€128,494
From operations (derived)
+€47,379
Net result for the year
+€231,445
Depreciation
+€47,214
Receivables within one year
-€224,805
Deferred charges and accrued income
+€813
Trade debts
+€212
Other debts
-€7,500
Investment (derived)
+€1
Investment in fixed assets (net)
+€1
Financing
-€62,355
Debts after one year
-€24,016
Current portion of long-term debt
+€1,405
Short-term financial debts
-€39,744
Cash 2025
€113,519
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,937,447 | €8,099,248 | +€161,802 | +2.0% |
| Fixed assets | 21/28 | €315,392 | €268,177 | -€47,215 | -15.0% |
| Tangible fixed assets | 22/27 | €315,391 | €268,177 | -€47,214 | -15.0% |
| Land and buildings | 22 | €315,391 | €268,177 | -€47,214 | -15.0% |
| Financial fixed assets | 28 | €1 | - | -€1 | |
| Affiliated companies | 280/1 | €1 | - | -€1 | |
| Participating interests | 280 | €1 | - | -€1 | |
| Current assets | 29/58 | €7,622,055 | €7,831,072 | +€209,017 | +2.7% |
| Amounts receivable within one year | 40/41 | €7,491,233 | €7,716,037 | +€224,805 | +3.0% |
| Trade receivables | 40 | €1,320 | €2,635 | +€1,315 | +99.7% |
| Other amounts receivable | 41 | €7,489,913 | €7,713,402 | +€223,489 | +3.0% |
| Cash at bank and in hand | 54/58 | €128,494 | €113,519 | -€14,975 | -11.7% |
| Deferred charges and accrued income | 490/1 | €2,329 | €1,516 | -€813 | -34.9% |
| Total equity and liabilities | 10/49 | €7,937,447 | €8,099,248 | +€161,802 | +2.0% |
| Equity | 10/15 | €7,731,228 | €7,962,673 | +€231,445 | +3.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,566,228 | €7,797,673 | +€231,445 | +3.1% |
| Amounts payable | 17/49 | €206,218 | €136,575 | -€69,643 | -33.8% |
| Amounts payable after more than one year | 17 | €56,144 | €32,128 | -€24,016 | -42.8% |
| Financial debts | 170/4 | €56,144 | €32,128 | -€24,016 | -42.8% |
| Credit institutions | 173 | €56,144 | €32,128 | -€24,016 | -42.8% |
| Amounts payable within one year | 42/48 | €150,075 | €104,448 | -€45,627 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €22,611 | €24,016 | +€1,405 | +6.2% |
| Financial debts | 43 | €104,197 | €64,453 | -€39,744 | -38.1% |
| Credit institutions | 430/8 | €104,197 | €64,453 | -€39,744 | -38.1% |
| Trade debts | 44 | €15,766 | €15,979 | +€212 | +1.3% |
| Suppliers | 440/4 | €15,766 | €15,979 | +€212 | +1.3% |
| Other amounts payable | 47/48 | €7,500 | - | -€7,500 | |
| Operating income | 70/76A | €650,413 | €151,963 | -€498,450 | -76.6% |
| Turnover | 70 | €626,872 | €134,989 | -€491,883 | -78.5% |
| Other operating income | 74 | €23,542 | €16,974 | -€6,567 | -27.9% |
| Operating charges | 60/66A | €323,927 | €133,474 | -€190,453 | -58.8% |
| Services and other goods | 61 | €253,686 | €64,599 | -€189,087 | -74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,214 | €47,214 | = | 0.0% |
| Other operating charges | 640/8 | €23,027 | €21,661 | -€1,366 | -5.9% |
| Operating profit (loss) | 9901 | €326,486 | €18,489 | -€307,997 | -94.3% |
| Financial income | 75/76B | €7,518,167 | €220,990 | -€7.3m | -97.1% |
| Recurring financial income | 75 | €296,258 | €220,990 | -€75,268 | -25.4% |
| Income from current assets | 751 | €296,257 | €220,990 | -€75,267 | -25.4% |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Non-recurring financial income | 76B | €7,221,910 | - | -€7.2m | |
| Financial charges | 65/66B | €2,078,275 | €8,035 | -€2.1m | -99.6% |
| Recurring financial charges | 65 | €446,552 | €8,034 | -€438,519 | -98.2% |
| Debt charges | 650 | €702,277 | €8,034 | -€694,243 | -98.9% |
| Other financial charges | 652/9 | -€255,725 | - | +€255,725 | |
| Non-recurring financial charges | 66B | €1,631,722 | €1 | -€1.6m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €5,766,379 | €231,445 | -€5.5m | -96.0% |
| Profit (loss) for the period | 9904 | €5,766,379 | €231,445 | -€5.5m | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,766,379 | €231,445 | -€5.5m | -96.0% |
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 16 October 2026 via checked.be.