GPImmo: 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
GPImmo
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€231,508
2024 · €408,951-€177,444
Equity
€1.3m
2024 · €1.6m-€268,492
Cash
€7,946
2024 · €2,838+€5,108
Balance sheet total
€3.0m
2024 · €3.0m+€74,369
Largest movements
Assets
- Receivables within one year +€115,670
up €115,670 (+90.2%), from €128,201 to €243,871
of which Other amounts receivable: +€70,483
- Tangible fixed assets -€83,162
down €83,162 (-6.7%), from €1.2m to €1.1m
of which Land and buildings: -€83,162
- Financial fixed assets +€35,000
up €35,000 (+2.2%), from €1.6m to €1.6m
Equity and liabilities
- Other debts +€434,041
up €434,041 (+36.4%), from €1.2m to €1.6m
- Profit (loss) carried forward -€267,899
down €267,899 (-73.8%), from €363,056 to €95,157
- Trade debts -€93,500
down €93,500 (-61.3%), from €152,509 to €59,009
Income statement
- Turnover -€578,349
no longer reported in 2025 (was €578,349)
- Services and other goods -€389,215
no longer reported in 2025 (was €389,215)
- Gross operating margin +€361,746
new in 2025: €361,746
- Financial income -€216,999
down €216,999 (-46.5%), from €466,999 to €250,000
- Other operating income -€110,552
no longer reported in 2025 (was €110,552)
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
€408,951
Turnover
-€578,349
Other operating income
-€110,552
Services and other goods
+€389,215
Staff costs
-€10,537
Depreciation
+€1,316
Other operating charges
+€1,967
Other operating items
+€360,849
Financial income
-€216,999
Financial charges
+€19,227
Taxes
-€33,582
Result 2025
€231,508
raises the resultlowers the resultnot broken down further in the accounts
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
+€540,108
Investment
-€35,000
Financing
-€500,000
Cash 2024
€2,838
From operations (derived)
+€540,108
Net result for the year
+€231,508
Depreciation
+€83,162
Receivables within one year
-€115,670
Deferred charges and accrued income
-€1,752
Smaller working-capital items
-€616
Trade debts
-€93,500
Other debts
+€434,041
Accrued charges and deferred income
+€2,937
Investment (derived)
-€35,000
Investment in fixed assets (net)
-€35,000
Financing
-€500,000
Contributions, distributions and other
-€500,000
Cash 2025
€7,946
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,972,213 | €3,046,582 | +€74,369 | +2.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,837,916 | €2,789,754 | -€48,162 | -1.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,232,568 | €1,149,406 | -€83,162 | -6.7% |
| Land and buildings | 22 | €1,232,568 | €1,149,406 | -€83,162 | -6.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €1,605,348 | €1,640,348 | +€35,000 | +2.2% |
| Affiliated companies | 280/1 | €1,169,085 | - | -€1.2m | |
| Participating interests | 280 | €1,169,085 | - | -€1.2m | |
| Companies linked by participating interests | 282/3 | €431,300 | - | -€431,300 | |
| Participating interests | 282 | €431,300 | - | -€431,300 | |
| Other financial fixed assets | 284/8 | €4,963 | - | -€4,963 | |
| Amounts receivable and cash guarantees | 285/8 | €4,963 | - | -€4,963 | |
| Current assets | 29/58 | €134,297 | €256,828 | +€122,531 | +91.2% |
| Amounts receivable within one year | 40/41 | €128,201 | €243,871 | +€115,670 | +90.2% |
| Trade receivables | 40 | €56,372 | €101,559 | +€45,187 | +80.2% |
| Other amounts receivable | 41 | €71,829 | €142,313 | +€70,483 | +98.1% |
| Current investments | 50/53 | €0 | €0 | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,838 | €7,946 | +€5,108 | +180% |
| Deferred charges and accrued income | 490/1 | €3,258 | €5,010 | +€1,752 | +53.8% |
| Total equity and liabilities | 10/49 | €2,972,213 | €3,046,582 | +€74,369 | +2.5% |
| Equity | 10/15 | €1,588,086 | €1,319,593 | -€268,492 | -16.9% |
| Contributions | 10/11 | €654,879 | €654,879 | = | 0.0% |
| Capital | 10 | €654,879 | €654,879 | = | 0.0% |
| Issued capital | 100 | €654,879 | €654,879 | = | 0.0% |
| Reserves | 13 | €570,151 | €569,557 | -€594 | -0.1% |
| Non-distributable reserves | 130/1 | €65,488 | €65,488 | = | 0.0% |
| Legal reserve | 130 | €65,488 | €65,488 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,463 | €15,870 | -€594 | -3.6% |
| Distributable reserves | 133 | €488,199 | €488,199 | = | 0.0% |
| Profit (loss) carried forward | 14 | €363,056 | €95,157 | -€267,899 | -73.8% |
| Provisions and deferred taxes | 16 | €5,525 | €5,219 | -€306 | -5.5% |
| Deferred taxes | 168 | €5,525 | €5,219 | -€306 | -5.5% |
| Amounts payable | 17/49 | €1,378,603 | €1,721,770 | +€343,167 | +24.9% |
| Amounts payable after more than one year | 17 | €1,980 | €1,980 | = | 0.0% |
| Other amounts payable | 178/9 | €1,980 | €1,980 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,373,776 | €1,714,006 | +€340,230 | +24.8% |
| Trade debts | 44 | €152,509 | €59,009 | -€93,500 | -61.3% |
| Suppliers | 440/4 | €152,509 | €59,009 | -€93,500 | -61.3% |
| Taxes, remuneration and social security | 45 | €29,772 | €29,462 | -€310 | -1.0% |
| Taxes | 450/3 | €13,685 | €13,329 | -€356 | -2.6% |
| Remuneration and social security | 454/9 | €16,087 | €16,133 | +€45 | +0.3% |
| Other amounts payable | 47/48 | €1,191,494 | €1,625,535 | +€434,041 | +36.4% |
| Accrued charges and deferred income | 492/3 | €2,847 | €5,784 | +€2,937 | +103% |
| Operating income | 70/76A | €689,843 | - | -€689,843 | |
| Turnover | 70 | €578,349 | - | -€578,349 | |
| Other operating income | 74 | €110,552 | - | -€110,552 | |
| Non-recurring operating income | 76A | €943 | €2,000 | +€1,057 | +112% |
| Operating charges | 60/66A | €702,225 | - | -€702,225 | |
| Services and other goods | 61 | €389,215 | - | -€389,215 | |
| Remuneration, social security and pensions | 62 | €196,081 | €206,618 | +€10,537 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,478 | €83,162 | -€1,316 | -1.6% |
| Other operating charges | 640/8 | €32,085 | €30,118 | -€1,967 | -6.1% |
| Non-recurring operating charges | 66A | €365 | €320 | -€45 | -12.4% |
| Gross operating margin | 9900 | - | €361,746 | +€361,746 | |
| Operating profit (loss) | 9901 | -€12,382 | €41,529 | +€53,910 | |
| Financial income | 75/76B | €466,999 | €250,000 | -€216,999 | -46.5% |
| Recurring financial income | 75 | €466,999 | €250,000 | -€216,999 | -46.5% |
| Income from financial fixed assets | 750 | €450,000 | - | -€450,000 | |
| Income from current assets | 751 | €16,999 | - | -€16,999 | |
| Financial charges | 65/66B | €71,902 | €52,675 | -€19,227 | -26.7% |
| Recurring financial charges | 65 | €71,902 | €52,675 | -€19,227 | -26.7% |
| Debt charges | 650 | €70,126 | - | -€70,126 | |
| Other financial charges | 652/9 | €1,777 | - | -€1,777 | |
| Profit (loss) for the period before taxes | 9903 | €382,716 | €238,853 | -€143,862 | -37.6% |
| Transfer from deferred taxes | 780 | €306 | €306 | = | 0.0% |
| Income taxes | 67/77 | -€25,930 | €7,651 | +€33,582 | |
| Taxes | 670/3 | €460 | - | -€460 | |
| Tax adjustments and reversals of tax provisions | 77 | €26,390 | - | -€26,390 | |
| Profit (loss) for the period | 9904 | €408,951 | €231,508 | -€177,444 | -43.4% |
| Transfer from tax-exempt reserves | 789 | €594 | €594 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €409,545 | €232,101 | -€177,444 | -43.3% |
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 18 October 2026 via checked.be.