GS GROUP IMMO: what changed
GS GROUP IMMO
Largest movements
- Cash -€30,782
down €30,782 (-55.4%), from €55,585 to €24,803
mainly Accrued charges and deferred income (-€14,181) and Trade debts (-€12,431)
- Receivables within one year +€7,467
up €7,467 (+26.3%), from €28,442 to €35,909
of which Trade receivables: +€6,217
- Accrued charges and deferred income -€14,181
down €14,181 (-39.8%), from €35,600 to €21,419
- Trade debts -€12,431
down €12,431 (-30.1%), from €41,300 to €28,868
- Other debts +€1,477
up €1,477 (+267%), from €553 to €2,030
- Tax, wage and social debts +€1,374
up €1,374 (+47.9%), from €2,869 to €4,243
of which Taxes: +€799
- Gross operating margin +€26,776
up €26,776 (+100%), from €26,750 to €53,526
- Staff costs +€25,600
up €25,600 (+101%), from €25,323 to €50,922
- Other operating charges +€800
up €800 (+476%), from €168 to €968
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,347 | €62,465 | -€23,882 | -27.7% |
| Formation expenses | 20 | €421 | €0 | -€421 | -100% |
| Fixed assets | 21/28 | €1,898 | €1,238 | -€660 | -34.8% |
| Tangible fixed assets | 22/27 | €1,648 | €988 | -€660 | -40.0% |
| Furniture and vehicles | 24 | €1,648 | €988 | -€660 | -40.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €84,027 | €61,226 | -€22,801 | -27.1% |
| Amounts receivable within one year | 40/41 | €28,442 | €35,909 | +€7,467 | +26.3% |
| Trade receivables | 40 | €28,430 | €34,647 | +€6,217 | +21.9% |
| Other amounts receivable | 41 | €12 | €1,262 | +€1,250 | +10,712% |
| Cash at bank and in hand | 54/58 | €55,585 | €24,803 | -€30,782 | -55.4% |
| Deferred charges and accrued income | 490/1 | - | €514 | +€514 | |
| Total equity and liabilities | 10/49 | €86,347 | €62,465 | -€23,882 | -27.7% |
| Equity | 10/15 | €6,024 | €5,904 | -€121 | -2.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €24 | €0 | -€24 | -100% |
| Distributable reserves | 133 | €24 | €0 | -€24 | -100% |
| Profit (loss) carried forward | 14 | - | -€96 | -€96 | |
| Amounts payable | 17/49 | €80,322 | €56,561 | -€23,761 | -29.6% |
| Amounts payable within one year | 42/48 | €44,722 | €35,142 | -€9,580 | -21.4% |
| Trade debts | 44 | €41,300 | €28,868 | -€12,431 | -30.1% |
| Suppliers | 440/4 | €41,300 | €28,868 | -€12,431 | -30.1% |
| Taxes, remuneration and social security | 45 | €2,869 | €4,243 | +€1,374 | +47.9% |
| Taxes | 450/3 | €1,644 | €2,444 | +€799 | +48.6% |
| Remuneration and social security | 454/9 | €1,225 | €1,800 | +€575 | +46.9% |
| Other amounts payable | 47/48 | €553 | €2,030 | +€1,477 | +267% |
| Accrued charges and deferred income | 492/3 | €35,600 | €21,419 | -€14,181 | -39.8% |
| Non-recurring operating income | 76A | - | €11 | +€11 | |
| Remuneration, social security and pensions | 62 | €25,323 | €50,922 | +€25,600 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,164 | €1,081 | -€83 | -7.1% |
| Other operating charges | 640/8 | €168 | €968 | +€800 | +476% |
| Gross operating margin | 9900 | €26,750 | €53,526 | +€26,776 | +100% |
| Operating profit (loss) | 9901 | €95 | €554 | +€460 | +486% |
| Financial income | 75/76B | - | €26 | +€26 | |
| Recurring financial income | 75 | - | €26 | +€26 | |
| Financial charges | 65/66B | €70 | €524 | +€454 | +647% |
| Recurring financial charges | 65 | €70 | €524 | +€454 | +647% |
| Profit (loss) for the period before taxes | 9903 | €24 | €56 | +€31 | +129% |
| Income taxes | 67/77 | - | €177 | +€177 | |
| Profit (loss) for the period | 9904 | €24 | -€121 | -€145 | |
| Profit (loss) for the period to be appropriated | 9905 | €24 | -€121 | -€145 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.