IMMO GARSOU: 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 GARSOU
Largest movements
- Tangible fixed assets -€16,572
down €16,572 (-2.2%), from €750,426 to €733,854
of which Land and buildings: -€30,007
- Debts after one year -€44,467
down €44,467 (-16.4%), from €271,823 to €227,355
- Reserves +€23,000
up €23,000 (+33.3%), from €69,169 to €92,169
of which Distributable reserves: +€23,000
- Depreciation +€2,208
up €2,208 (+5.2%), from €42,346 to €44,554
- Gross operating margin -€1,252
down €1,252 (-1.0%), from €123,279 to €122,027
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 | €759,187 | €749,068 | -€10,119 | -1.3% |
| Fixed assets | 21/28 | €750,426 | €733,854 | -€16,572 | -2.2% |
| Tangible fixed assets | 22/27 | €750,426 | €733,854 | -€16,572 | -2.2% |
| Land and buildings | 22 | €750,426 | €720,420 | -€30,007 | -4.0% |
| Furniture and vehicles | 24 | - | €13,435 | +€13,435 | |
| Current assets | 29/58 | €8,761 | €15,214 | +€6,453 | +73.7% |
| Cash at bank and in hand | 54/58 | €2,761 | €4,214 | +€1,453 | +52.6% |
| Deferred charges and accrued income | 490/1 | €6,000 | €11,000 | +€5,000 | +83.3% |
| Total equity and liabilities | 10/49 | €759,187 | €749,068 | -€10,119 | -1.3% |
| Equity | 10/15 | €362,524 | €386,768 | +€24,243 | +6.7% |
| Contributions | 10/11 | €176,211 | €176,211 | = | 0.0% |
| Reserves | 13 | €69,169 | €92,169 | +€23,000 | +33.3% |
| Non-distributable reserves | 130/1 | €2,654 | €2,654 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,654 | €2,654 | = | 0.0% |
| Distributable reserves | 133 | €66,515 | €89,515 | +€23,000 | +34.6% |
| Profit (loss) carried forward | 14 | €117,145 | €118,388 | +€1,243 | +1.1% |
| Amounts payable | 17/49 | €396,663 | €362,301 | -€34,362 | -8.7% |
| Amounts payable after more than one year | 17 | €271,823 | €227,355 | -€44,467 | -16.4% |
| Financial debts | 170/4 | €271,823 | €227,355 | -€44,467 | -16.4% |
| Amounts payable within one year | 42/48 | €124,453 | €134,945 | +€10,492 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €43,885 | €44,467 | +€582 | +1.3% |
| Trade debts | 44 | - | €1,062 | +€1,062 | |
| Suppliers | 440/4 | - | €1,062 | +€1,062 | |
| Taxes, remuneration and social security | 45 | €8,530 | €16,033 | +€7,503 | +88.0% |
| Taxes | 450/3 | €8,530 | €16,033 | +€7,503 | +88.0% |
| Other amounts payable | 47/48 | €72,038 | €73,383 | +€1,345 | +1.9% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,346 | €44,554 | +€2,208 | +5.2% |
| Other operating charges | 640/8 | €31,131 | €32,108 | +€977 | +3.1% |
| Gross operating margin | 9900 | €123,279 | €122,027 | -€1,252 | -1.0% |
| Operating profit (loss) | 9901 | €49,802 | €45,365 | -€4,437 | -8.9% |
| Financial charges | 65/66B | €10,311 | €9,159 | -€1,152 | -11.2% |
| Recurring financial charges | 65 | €10,311 | €9,159 | -€1,152 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €39,491 | €36,205 | -€3,286 | -8.3% |
| Income taxes | 67/77 | €12,601 | €11,962 | -€639 | -5.1% |
| Profit (loss) for the period | 9904 | €26,890 | €24,243 | -€2,647 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,890 | €24,243 | -€2,647 | -9.8% |
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 18 October 2026 via checked.be.