GS IMMO: what changed
Two fiscal 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.
GS IMMO
Largest movements
- Tangible fixed assets -€92,190
down €92,190 (-8.7%), from €1.1m to €962,103
of which Land and buildings: -€92,001
- Other debts -€100,000
down €100,000 (-39.9%), from €250,385 to €150,385
- Tax, wage and social debts -€31,479
down €31,479 (-73.0%), from €43,132 to €11,653
- Profit (loss) carried forward +€29,147
up €29,147 (+14.3%), from €204,360 to €233,508
- Gross operating margin +€36,364
up €36,364 (+118.7%), from €30,644 to €67,008
- Taxes +€9,626
up €9,626 (+949.3%), from €1,014 to €10,639
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.
Cash bridge derived
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 | €1,183,126 | €1,080,796 | -€102,330 | -8.6% |
| Fixed assets | 21/28 | €1,054,541 | €962,351 | -€92,190 | -8.7% |
| Tangible fixed assets | 22/27 | €1,054,293 | €962,103 | -€92,190 | -8.7% |
| Land and buildings | 22 | €1,054,104 | €962,103 | -€92,001 | -8.7% |
| Furniture and vehicles | 24 | €189 | - | -€189 | |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €128,585 | €118,445 | -€10,140 | -7.9% |
| Cash at bank and in hand | 54/58 | €128,273 | €118,123 | -€10,150 | -7.9% |
| Deferred charges and accrued income | 490/1 | €312 | €322 | +€11 | +3.4% |
| Total equity and liabilities | 10/49 | €1,183,126 | €1,080,796 | -€102,330 | -8.6% |
| Equity | 10/15 | €752,332 | €781,479 | +€29,147 | +3.9% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €424,025 | €424,025 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €411,630 | €411,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,360 | €233,508 | +€29,147 | +14.3% |
| Provisions and deferred taxes | 16 | €137,210 | €137,210 | = | 0.0% |
| Deferred taxes | 168 | €137,210 | €137,210 | = | 0.0% |
| Amounts payable | 17/49 | €293,584 | €162,107 | -€131,477 | -44.8% |
| Amounts payable within one year | 42/48 | €293,584 | €162,107 | -€131,477 | -44.8% |
| Trade debts | 44 | €67 | €69 | +€2 | +2.9% |
| Suppliers | 440/4 | €67 | €69 | +€2 | +2.9% |
| Taxes, remuneration and social security | 45 | €43,132 | €11,653 | -€31,479 | -73.0% |
| Taxes | 450/3 | €43,132 | €11,653 | -€31,479 | -73.0% |
| Other amounts payable | 47/48 | €250,385 | €150,385 | -€100,000 | -39.9% |
| Non-recurring operating income | 76A | - | €37,512 | +€37,512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,203 | €22,202 | -€1 | 0.0% |
| Other operating charges | 640/8 | €3,888 | €4,096 | +€208 | +5.3% |
| Gross operating margin | 9900 | €30,644 | €67,008 | +€36,364 | +118.7% |
| Operating profit (loss) | 9901 | €4,554 | €40,710 | +€36,157 | +794.0% |
| Financial charges | 65/66B | €754 | €924 | +€169 | +22.4% |
| Recurring financial charges | 65 | €754 | €924 | +€169 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €3,799 | €39,787 | +€35,987 | +947.2% |
| Income taxes | 67/77 | €1,014 | €10,639 | +€9,626 | +949.3% |
| Profit (loss) for the period | 9904 | €2,785 | €29,147 | +€26,362 | +946.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,785 | €29,147 | +€26,362 | +946.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.