GLD IMMO: 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.
GLD IMMO
Largest movements
- Tangible fixed assets -€34,336
down €34,336 (-6.2%), from €553,894 to €519,558
- Cash +€12,636
up €12,636 (+118%), from €10,704 to €23,340
mainly Net result for the year (+€41,309) and Depreciation (+€34,336)
- Debts after one year -€74,707
down €74,707 (-54.4%), from €137,207 to €62,500
- Reserves +€41,309
up €41,309 (+20.2%), from €204,003 to €245,312
of which Distributable reserves: +€41,309
- Other debts +€10,000
up €10,000 (+6.5%), from €154,000 to €164,000
- Gross operating margin +€23,601
up €23,601 (+25.1%), from €94,011 to €117,612
- Other operating charges +€15,479
up €15,479 (+165%), from €9,402 to €24,881
- Taxes +€2,176
up €2,176 (+18.8%), from €11,594 to €13,770
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €620,779 | €598,184 | -€22,595 | -3.6% |
| Fixed assets | 21/28 | €553,894 | €519,558 | -€34,336 | -6.2% |
| Tangible fixed assets | 22/27 | €553,894 | €519,558 | -€34,336 | -6.2% |
| Land and buildings | 22 | €553,894 | €519,558 | -€34,336 | -6.2% |
| Current assets | 29/58 | €66,886 | €78,626 | +€11,741 | +17.6% |
| Amounts receivable within one year | 40/41 | €56,182 | €55,286 | -€895 | -1.6% |
| Trade receivables | 40 | €52,776 | €54,056 | +€1,280 | +2.4% |
| Other amounts receivable | 41 | €3,406 | €1,230 | -€2,176 | -63.9% |
| Cash at bank and in hand | 54/58 | €10,704 | €23,340 | +€12,636 | +118% |
| Total equity and liabilities | 10/49 | €620,779 | €598,184 | -€22,595 | -3.6% |
| Equity | 10/15 | €251,207 | €292,516 | +€41,309 | +16.4% |
| Contributions | 10/11 | €47,204 | €47,204 | = | 0.0% |
| Reserves | 13 | €204,003 | €245,312 | +€41,309 | +20.2% |
| Tax-exempt reserves | 132 | €23 | €23 | = | 0.0% |
| Distributable reserves | 133 | €203,980 | €245,289 | +€41,309 | +20.3% |
| Amounts payable | 17/49 | €369,572 | €305,667 | -€63,905 | -17.3% |
| Amounts payable after more than one year | 17 | €137,207 | €62,500 | -€74,707 | -54.4% |
| Financial debts | 170/4 | €137,207 | €62,500 | -€74,707 | -54.4% |
| Amounts payable within one year | 42/48 | €232,365 | €243,167 | +€10,802 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €75,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,365 | €4,167 | +€802 | +23.8% |
| Taxes | 450/3 | €3,365 | €4,167 | +€802 | +23.8% |
| Other amounts payable | 47/48 | €154,000 | €164,000 | +€10,000 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,336 | €34,336 | = | 0.0% |
| Other operating charges | 640/8 | €9,402 | €24,881 | +€15,479 | +165% |
| Gross operating margin | 9900 | €94,011 | €117,612 | +€23,601 | +25.1% |
| Operating profit (loss) | 9901 | €50,273 | €58,395 | +€8,122 | +16.2% |
| Financial charges | 65/66B | €3,897 | €3,316 | -€581 | -14.9% |
| Recurring financial charges | 65 | €3,897 | €3,316 | -€581 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €46,377 | €55,079 | +€8,703 | +18.8% |
| Income taxes | 67/77 | €11,594 | €13,770 | +€2,176 | +18.8% |
| Profit (loss) for the period | 9904 | €34,782 | €41,309 | +€6,527 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,782 | €41,309 | +€6,527 | +18.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.