GREGORY WATHELET 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.
« GREGORY WATHELET IMMO »
Largest movements
- Tangible fixed assets -€175,988
down €175,988 (-6.3%), from €2.8m to €2.6m
of which Plant, machinery and equipment: -€92,125
- Receivables within one year +€115,682
up €115,682 (+20.4%), from €567,644 to €683,326
of which Trade receivables: +€294,833
- Debts after one year -€273,130
down €273,130 (-14.4%), from €1.9m to €1.6m
- Reserves +€100,000
up €100,000 (+24.3%), from €411,500 to €511,500
of which Distributable reserves: +€100,000
- Other debts +€75,498
up €75,498 (+16.5%), from €458,357 to €533,856
- Gross operating margin +€46,225
up €46,225 (+8.0%), from €579,971 to €626,196
- Staff costs +€42,461
up €42,461 (+124%), from €34,368 to €76,829
- Financial charges +€10,874
up €10,874 (+18.3%), from €59,492 to €70,366
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 | €3,646,227 | €3,547,303 | -€98,924 | -2.7% |
| Fixed assets | 21/28 | €2,803,658 | €2,627,670 | -€175,988 | -6.3% |
| Tangible fixed assets | 22/27 | €2,800,328 | €2,624,340 | -€175,988 | -6.3% |
| Land and buildings | 22 | €2,131,140 | €2,051,297 | -€79,843 | -3.7% |
| Plant, machinery and equipment | 23 | €552,154 | €460,029 | -€92,125 | -16.7% |
| Furniture and vehicles | 24 | €117,033 | €113,014 | -€4,020 | -3.4% |
| Financial fixed assets | 28 | €3,330 | €3,330 | = | 0.0% |
| Current assets | 29/58 | €842,569 | €919,634 | +€77,065 | +9.1% |
| Amounts receivable within one year | 40/41 | €567,644 | €683,326 | +€115,682 | +20.4% |
| Trade receivables | 40 | €311,442 | €606,275 | +€294,833 | +94.7% |
| Other amounts receivable | 41 | €256,202 | €77,051 | -€179,152 | -69.9% |
| Cash at bank and in hand | 54/58 | €266,502 | €231,862 | -€34,640 | -13.0% |
| Deferred charges and accrued income | 490/1 | €8,423 | €4,446 | -€3,977 | -47.2% |
| Total equity and liabilities | 10/49 | €3,646,227 | €3,547,303 | -€98,924 | -2.7% |
| Equity | 10/15 | €635,966 | €740,119 | +€104,154 | +16.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €411,500 | €511,500 | +€100,000 | +24.3% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €369,000 | €469,000 | +€100,000 | +27.1% |
| Profit (loss) carried forward | 14 | €174,466 | €178,619 | +€4,154 | +2.4% |
| Amounts payable | 17/49 | €3,010,261 | €2,807,184 | -€203,077 | -6.7% |
| Amounts payable after more than one year | 17 | €1,895,406 | €1,622,276 | -€273,130 | -14.4% |
| Financial debts | 170/4 | €1,895,406 | €1,622,276 | -€273,130 | -14.4% |
| Amounts payable within one year | 42/48 | €1,114,856 | €1,184,908 | +€70,053 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €254,572 | €253,130 | -€1,442 | -0.6% |
| Trade debts | 44 | €304,690 | €324,278 | +€19,588 | +6.4% |
| Suppliers | 440/4 | €304,690 | €324,278 | +€19,588 | +6.4% |
| Taxes, remuneration and social security | 45 | €97,236 | €73,644 | -€23,592 | -24.3% |
| Taxes | 450/3 | €88,798 | €59,396 | -€29,401 | -33.1% |
| Remuneration and social security | 454/9 | €8,439 | €14,248 | +€5,809 | +68.8% |
| Other amounts payable | 47/48 | €458,357 | €533,856 | +€75,498 | +16.5% |
| Remuneration, social security and pensions | 62 | €34,368 | €76,829 | +€42,461 | +124% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311,143 | €316,865 | +€5,722 | +1.8% |
| Other operating charges | 640/8 | €14,208 | €16,426 | +€2,218 | +15.6% |
| Gross operating margin | 9900 | €579,971 | €626,196 | +€46,225 | +8.0% |
| Operating profit (loss) | 9901 | €220,251 | €216,075 | -€4,176 | -1.9% |
| Financial income | 75/76B | €1,036 | €3,267 | +€2,230 | +215% |
| Recurring financial income | 75 | €1,036 | €3,267 | +€2,230 | +215% |
| Financial charges | 65/66B | €59,492 | €70,366 | +€10,874 | +18.3% |
| Recurring financial charges | 65 | €59,492 | €70,366 | +€10,874 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €161,795 | €148,976 | -€12,820 | -7.9% |
| Income taxes | 67/77 | €38,901 | €44,822 | +€5,922 | +15.2% |
| Profit (loss) for the period | 9904 | €122,895 | €104,154 | -€18,741 | -15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €122,895 | €104,154 | -€18,741 | -15.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.