IMMO G.D.V.: 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.
IMMO G.D.V.
Largest movements
- Tangible fixed assets -€24,408
down €24,408 (-9.9%), from €247,607 to €223,200
of which Land and buildings: -€23,978
- Receivables within one year +€17,525
up €17,525 (+16.8%), from €104,189 to €121,714
of which Other amounts receivable: +€16,599
- Cash -€3,868
down €3,868 (-51.9%), from €7,457 to €3,589
mainly Debts after one year (-€41,683) and Receivables within one year (-€17,525)
- Debts after one year -€41,683
down €41,683 (-44.2%), from €94,389 to €52,706
of which Financial debts: -€41,773
- Reserves +€31,159
up €31,159 (+20.7%), from €150,596 to €181,756
of which Distributable reserves: +€31,159
- Gross operating margin +€3,150
up €3,150 (+4.1%), from €76,518 to €79,668
- Depreciation +€1,050
up €1,050 (+3.3%), from €32,248 to €33,298
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 | €359,590 | €348,841 | -€10,749 | -3.0% |
| Fixed assets | 21/28 | €247,867 | €223,460 | -€24,408 | -9.8% |
| Tangible fixed assets | 22/27 | €247,607 | €223,200 | -€24,408 | -9.9% |
| Land and buildings | 22 | €243,440 | €219,462 | -€23,978 | -9.8% |
| Plant, machinery and equipment | 23 | €4,167 | €3,737 | -€430 | -10.3% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €111,722 | €125,381 | +€13,658 | +12.2% |
| Amounts receivable within one year | 40/41 | €104,189 | €121,714 | +€17,525 | +16.8% |
| Trade receivables | 40 | - | €926 | +€926 | |
| Other amounts receivable | 41 | €104,189 | €120,788 | +€16,599 | +15.9% |
| Cash at bank and in hand | 54/58 | €7,457 | €3,589 | -€3,868 | -51.9% |
| Deferred charges and accrued income | 490/1 | €76 | €78 | +€2 | +2.6% |
| Total equity and liabilities | 10/49 | €359,590 | €348,841 | -€10,749 | -3.0% |
| Equity | 10/15 | €213,096 | €244,256 | +€31,159 | +14.6% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €150,596 | €181,756 | +€31,159 | +20.7% |
| Non-distributable reserves | 130/1 | €21,793 | €21,793 | = | 0.0% |
| Legal reserve | 130 | €21,793 | €21,793 | = | 0.0% |
| Tax-exempt reserves | 132 | €177 | €177 | = | 0.0% |
| Distributable reserves | 133 | €128,627 | €159,786 | +€31,159 | +24.2% |
| Amounts payable | 17/49 | €146,493 | €104,585 | -€41,908 | -28.6% |
| Amounts payable after more than one year | 17 | €94,389 | €52,706 | -€41,683 | -44.2% |
| Financial debts | 170/4 | €87,639 | €45,866 | -€41,773 | -47.7% |
| Other amounts payable | 178/9 | €6,750 | €6,840 | +€90 | +1.3% |
| Amounts payable within one year | 42/48 | €48,988 | €48,989 | +€2 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €41,238 | €41,773 | +€535 | +1.3% |
| Financial debts | 43 | €2,114 | €2,696 | +€582 | +27.5% |
| Credit institutions | 430/8 | €2,114 | €2,696 | +€582 | +27.5% |
| Trade debts | 44 | €434 | €849 | +€415 | +95.7% |
| Suppliers | 440/4 | €434 | €849 | +€415 | +95.7% |
| Taxes, remuneration and social security | 45 | €5,202 | €3,672 | -€1,530 | -29.4% |
| Taxes | 450/3 | €5,202 | €3,672 | -€1,530 | -29.4% |
| Accrued charges and deferred income | 492/3 | €3,117 | €2,889 | -€227 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,248 | €33,298 | +€1,050 | +3.3% |
| Other operating charges | 640/8 | €3,924 | €4,047 | +€124 | +3.2% |
| Gross operating margin | 9900 | €76,518 | €79,668 | +€3,150 | +4.1% |
| Operating profit (loss) | 9901 | €40,346 | €42,323 | +€1,976 | +4.9% |
| Financial income | 75/76B | €684 | €1,108 | +€424 | +62.1% |
| Recurring financial income | 75 | €684 | €1,108 | +€424 | +62.1% |
| Financial charges | 65/66B | €2,000 | €1,674 | -€326 | -16.3% |
| Recurring financial charges | 65 | €2,000 | €1,674 | -€326 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €39,030 | €41,757 | +€2,727 | +7.0% |
| Income taxes | 67/77 | €10,097 | €10,598 | +€500 | +5.0% |
| Profit (loss) for the period | 9904 | €28,933 | €31,159 | +€2,227 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,933 | €31,159 | +€2,227 | +7.7% |
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.