IMMO GAVA: 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.
IMMO GAVA
Largest movements
- Tangible fixed assets -€84,670
down €84,670 (-3.8%), from €2.2m to €2.2m
- Debts after one year -€70,000
down €70,000 (-17.0%), from €411,059 to €341,059
- Reserves +€69,135
up €69,135 (+10.5%), from €659,789 to €728,924
of which Distributable reserves: +€69,135
- Trade debts -€40,432
no longer reported in 2025 (was €40,432)
- Depreciation -€46,899
down €46,899 (-35.0%), from €133,887 to €86,988
- Taxes +€28,752
up €28,752 (+187.8%), from €15,306 to €44,059
- Other operating charges -€24,263
down €24,263 (-48.7%), from €49,821 to €25,558
- Purchases and services +€21,491
up €21,491 (+75.9%), from €28,299 to €49,789
- Gross operating margin -€18,685
down €18,685 (-6.9%), from €269,021 to €250,336
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 | €2,846,552 | €2,790,598 | -€55,954 | -2.0% |
| Fixed assets | 21/28 | €2,235,516 | €2,150,847 | -€84,670 | -3.8% |
| Tangible fixed assets | 22/27 | €2,235,516 | €2,150,847 | -€84,670 | -3.8% |
| Land and buildings | 22 | €2,235,516 | €2,150,847 | -€84,670 | -3.8% |
| Current assets | 29/58 | €611,035 | €639,751 | +€28,716 | +4.7% |
| Amounts receivable within one year | 40/41 | €8,367 | €14,562 | +€6,194 | +74.0% |
| Other amounts receivable | 41 | €8,367 | €14,562 | +€6,194 | +74.0% |
| Cash at bank and in hand | 54/58 | €602,668 | €625,190 | +€22,522 | +3.7% |
| Total equity and liabilities | 10/49 | €2,846,552 | €2,790,598 | -€55,954 | -2.0% |
| Equity | 10/15 | €1,277,789 | €1,346,924 | +€69,135 | +5.4% |
| Contributions | 10/11 | €618,000 | €618,000 | = | 0.0% |
| Reserves | 13 | €659,789 | €728,924 | +€69,135 | +10.5% |
| Non-distributable reserves | 130/1 | €61,800 | €61,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €61,800 | €61,800 | = | 0.0% |
| Distributable reserves | 133 | €597,989 | €667,124 | +€69,135 | +11.6% |
| Amounts payable | 17/49 | €1,568,763 | €1,443,674 | -€125,089 | -8.0% |
| Amounts payable after more than one year | 17 | €411,059 | €341,059 | -€70,000 | -17.0% |
| Financial debts | 170/4 | €411,059 | €341,059 | -€70,000 | -17.0% |
| Amounts payable within one year | 42/48 | €1,157,704 | €1,102,615 | -€55,089 | -4.8% |
| Financial debts | 43 | €88,375 | €70,500 | -€17,875 | -20.2% |
| Credit institutions | 430/8 | €88,375 | €70,500 | -€17,875 | -20.2% |
| Trade debts | 44 | €40,432 | - | -€40,432 | |
| Suppliers | 440/4 | €40,432 | - | -€40,432 | |
| Taxes, remuneration and social security | 45 | €16,500 | €17,250 | +€750 | +4.5% |
| Taxes | 450/3 | €16,500 | €17,250 | +€750 | +4.5% |
| Other amounts payable | 47/48 | €1,012,397 | €1,014,865 | +€2,468 | +0.2% |
| Turnover | 70 | €20,000 | €20,000 | = | 0.0% |
| Non-recurring operating income | 76A | €277,319 | €250,125 | -€27,194 | -9.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €28,299 | €49,789 | +€21,491 | +75.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,887 | €86,988 | -€46,899 | -35.0% |
| Other operating charges | 640/8 | €49,821 | €25,558 | -€24,263 | -48.7% |
| Gross operating margin | 9900 | €269,021 | €250,336 | -€18,685 | -6.9% |
| Operating profit (loss) | 9901 | €85,313 | €137,789 | +€52,477 | +61.5% |
| Financial income | 75/76B | €11,171 | €12,015 | +€844 | +7.6% |
| Recurring financial income | 75 | €11,171 | €8,637 | -€2,534 | -22.7% |
| Non-recurring financial income | 76B | - | €3,378 | +€3,378 | |
| Financial charges | 65/66B | €39,782 | €36,610 | -€3,172 | -8.0% |
| Recurring financial charges | 65 | €39,782 | €36,610 | -€3,172 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €56,701 | €113,194 | +€56,493 | +99.6% |
| Income taxes | 67/77 | €15,306 | €44,059 | +€28,752 | +187.8% |
| Profit (loss) for the period | 9904 | €41,395 | €69,135 | +€27,741 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,395 | €69,135 | +€27,741 | +67.0% |
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 4 October 2026 via checked.be.