GSP 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.
GSP IMMO
Largest movements
- Cash -€33,220
down €33,220 (-79.8%), from €41,609 to €8,389
mainly Debts after one year (-€74,742) and Investment in fixed assets (net) (-€16,336)
- Debts after one year -€74,742
down €74,742 (-15.3%), from €487,663 to €412,922
- Other debts +€50,103
up €50,103 (+34.8%), from €143,923 to €194,025
- Trade debts -€13,639
down €13,639 (-96.6%), from €14,126 to €487
- Gross operating margin -€7,744
down €7,744 (-15.9%), from €48,714 to €40,970
- Depreciation +€4,863
up €4,863 (+35.0%), from €13,907 to €18,770
- Financial charges -€2,579
down €2,579 (-15.3%), from €16,892 to €14,313
- Taxes -€2,042
no longer reported in 2025 (was €2,042)
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 | €941,784 | €904,036 | -€37,748 | -4.0% |
| Fixed assets | 21/28 | €897,595 | €895,161 | -€2,434 | -0.3% |
| Tangible fixed assets | 22/27 | €897,595 | €893,381 | -€4,214 | -0.5% |
| Land and buildings | 22 | €897,595 | €893,381 | -€4,214 | -0.5% |
| Financial fixed assets | 28 | - | €1,780 | +€1,780 | |
| Current assets | 29/58 | €44,190 | €8,875 | -€35,314 | -79.9% |
| Amounts receivable within one year | 40/41 | €2,581 | €487 | -€2,095 | -81.1% |
| Trade receivables | 40 | - | €487 | +€487 | |
| Other amounts receivable | 41 | €2,581 | - | -€2,581 | |
| Cash at bank and in hand | 54/58 | €41,609 | €8,389 | -€33,220 | -79.8% |
| Total equity and liabilities | 10/49 | €941,784 | €904,036 | -€37,748 | -4.0% |
| Equity | 10/15 | €216,761 | €215,967 | -€794 | -0.4% |
| Contributions | 10/11 | €7,269 | €7,269 | = | 0.0% |
| Contributions outside capital | 11 | €7,269 | €7,269 | = | 0.0% |
| Other | 1109/19 | €7,269 | €7,269 | = | 0.0% |
| Reserves | 13 | €59,113 | €59,113 | = | 0.0% |
| Non-distributable reserves | 130/1 | €727 | €727 | = | 0.0% |
| Legal reserve | 130 | €727 | €727 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,800 | €56,800 | = | 0.0% |
| Distributable reserves | 133 | €1,586 | €1,586 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,379 | €149,586 | -€794 | -0.5% |
| Amounts payable | 17/49 | €725,024 | €688,069 | -€36,955 | -5.1% |
| Amounts payable after more than one year | 17 | €487,663 | €412,922 | -€74,742 | -15.3% |
| Financial debts | 170/4 | €487,663 | €412,922 | -€74,742 | -15.3% |
| Amounts payable within one year | 42/48 | €237,236 | €275,147 | +€37,912 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €77,145 | €78,593 | +€1,448 | +1.9% |
| Trade debts | 44 | €14,126 | €487 | -€13,639 | -96.6% |
| Suppliers | 440/4 | €14,126 | €487 | -€13,639 | -96.6% |
| Taxes, remuneration and social security | 45 | €2,042 | €2,042 | = | 0.0% |
| Taxes | 450/3 | €2,042 | €2,042 | = | 0.0% |
| Other amounts payable | 47/48 | €143,923 | €194,025 | +€50,103 | +34.8% |
| Accrued charges and deferred income | 492/3 | €125 | - | -€125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,907 | €18,770 | +€4,863 | +35.0% |
| Other operating charges | 640/8 | €8,392 | €8,681 | +€289 | +3.4% |
| Gross operating margin | 9900 | €48,714 | €40,970 | -€7,744 | -15.9% |
| Operating profit (loss) | 9901 | €26,415 | €13,519 | -€12,896 | -48.8% |
| Financial charges | 65/66B | €16,892 | €14,313 | -€2,579 | -15.3% |
| Recurring financial charges | 65 | €16,892 | €14,313 | -€2,579 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €9,523 | -€794 | -€10,317 | |
| Income taxes | 67/77 | €2,042 | - | -€2,042 | |
| Profit (loss) for the period | 9904 | €7,481 | -€794 | -€8,275 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,481 | -€794 | -€8,275 |
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 19 October 2026 via checked.be.