GST 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.
GST IMMO
Largest movements
- Tangible fixed assets -€8,206
down €8,206 (-6.3%), from €130,166 to €121,959
of which Land and buildings: -€6,873
- Cash +€6,506
up €6,506 (+265.2%), from €2,453 to €8,958
mainly Depreciation (+€8,206) and Other debts (+€4,450)
- Debts after one year -€8,042
down €8,042 (-10.7%), from €75,427 to €67,385
- Other debts +€4,450
up €4,450 (+9.3%), from €47,840 to €52,290
- Current portion of long-term debt +€1,399
up €1,399 (+20.0%), from €6,997 to €8,396
- Depreciation -€3,085
down €3,085 (-27.3%), from €11,291 to €8,206
- Gross operating margin +€2,671
up €2,671 (+21.0%), from €12,693 to €15,364
- Purchases and services -€2,313
down €2,313 (-32.8%), from €7,049 to €4,736
- Financial charges -€2,258
down €2,258 (-33.6%), from €6,719 to €4,462
of which Financial charges: -€2,308
- Other operating charges -€419
down €419 (-54.3%), from €772 to €353
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 | €132,618 | €130,918 | -€1,700 | -1.3% |
| Fixed assets | 21/28 | €130,166 | €121,959 | -€8,206 | -6.3% |
| Tangible fixed assets | 22/27 | €130,166 | €121,959 | -€8,206 | -6.3% |
| Land and buildings | 22 | €128,254 | €121,382 | -€6,873 | -5.4% |
| Plant, machinery and equipment | 23 | €1,911 | €578 | -€1,333 | -69.8% |
| Current assets | 29/58 | €2,453 | €8,958 | +€6,506 | +265.2% |
| Cash at bank and in hand | 54/58 | €2,453 | €8,958 | +€6,506 | +265.2% |
| Total equity and liabilities | 10/49 | €132,618 | €130,918 | -€1,700 | -1.3% |
| Equity | 10/15 | €2,354 | €2,847 | +€493 | +20.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,646 | -€7,153 | +€493 | +6.4% |
| Amounts payable | 17/49 | €130,264 | €128,071 | -€2,193 | -1.7% |
| Amounts payable after more than one year | 17 | €75,427 | €67,385 | -€8,042 | -10.7% |
| Financial debts | 170/4 | €75,427 | €67,385 | -€8,042 | -10.7% |
| Amounts payable within one year | 42/48 | €54,837 | €60,686 | +€5,849 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €6,997 | €8,396 | +€1,399 | +20.0% |
| Other amounts payable | 47/48 | €47,840 | €52,290 | +€4,450 | +9.3% |
| Turnover | 70 | €19,742 | €20,100 | +€358 | +1.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €7,049 | €4,736 | -€2,313 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,291 | €8,206 | -€3,085 | -27.3% |
| Other operating charges | 640/8 | €772 | €353 | -€419 | -54.3% |
| Gross operating margin | 9900 | €12,693 | €15,364 | +€2,671 | +21.0% |
| Operating profit (loss) | 9901 | €630 | €6,805 | +€6,174 | +979.7% |
| Financial charges | 65/66B | €6,719 | €4,462 | -€2,258 | -33.6% |
| Recurring financial charges | 65 | €6,719 | €4,412 | -€2,308 | -34.3% |
| Non-recurring financial charges | 66B | - | €50 | +€50 | |
| Profit (loss) for the period before taxes | 9903 | -€6,089 | €2,343 | +€8,432 | |
| Income taxes | 67/77 | €1,557 | €1,850 | +€293 | +18.8% |
| Profit (loss) for the period | 9904 | -€7,646 | €493 | +€8,139 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,646 | €493 | +€8,139 |
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 8 October 2026 via checked.be.