IMMO GCB: 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 GCB
Largest movements
- Tangible fixed assets +€124,355
up €124,355 (+31.1%), from €399,779 to €524,134
- Cash -€11,587
down €11,587 (-72.8%), from €15,914 to €4,327
mainly Investment in fixed assets (net) (-€135,000) and Tax, wage and social debts (-€10,073)
- Debts after one year +€126,561
up €126,561 (+843.7%), from €15,000 to €141,561
- Tax, wage and social debts -€10,073
down €10,073 (-64.6%), from €15,583 to €5,510
- Gross operating margin -€35,863
down €35,863 (-88.5%), from €40,534 to €4,671
- Other operating charges -€12,756
down €12,756 (-93.5%), from €13,635 to €880
- Taxes -€5,510
down €5,510 (-100.0%), from €5,510 to €0
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 | €442,230 | €551,498 | +€109,267 | +24.7% |
| Fixed assets | 21/28 | €399,779 | €524,134 | +€124,355 | +31.1% |
| Tangible fixed assets | 22/27 | €399,779 | €524,134 | +€124,355 | +31.1% |
| Land and buildings | 22 | €399,779 | €524,134 | +€124,355 | +31.1% |
| Current assets | 29/58 | €42,451 | €27,364 | -€15,087 | -35.5% |
| Amounts receivable within one year | 40/41 | €1,508 | €1,508 | = | 0.0% |
| Other amounts receivable | 41 | €1,508 | €1,508 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,914 | €4,327 | -€11,587 | -72.8% |
| Deferred charges and accrued income | 490/1 | €25,029 | €21,529 | -€3,500 | -14.0% |
| Total equity and liabilities | 10/49 | €442,230 | €551,498 | +€109,267 | +24.7% |
| Equity | 10/15 | €332,765 | €327,047 | -€5,718 | -1.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,443 | €122,204 | -€2,239 | -1.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,042 | €38,803 | -€2,239 | -5.5% |
| Distributable reserves | 133 | €81,542 | €81,542 | = | 0.0% |
| Profit (loss) carried forward | 14 | €202,122 | €198,643 | -€3,480 | -1.7% |
| Provisions and deferred taxes | 16 | €64,799 | €63,307 | -€1,492 | -2.3% |
| Provisions for liabilities and charges | 160/5 | €37,438 | €37,438 | = | 0.0% |
| Major repairs and maintenance | 162 | €37,438 | €37,438 | = | 0.0% |
| Deferred taxes | 168 | €27,361 | €25,869 | -€1,492 | -5.5% |
| Amounts payable | 17/49 | €44,666 | €161,144 | +€116,478 | +260.8% |
| Amounts payable after more than one year | 17 | €15,000 | €141,561 | +€126,561 | +843.7% |
| Financial debts | 170/4 | €15,000 | €141,561 | +€126,561 | +843.7% |
| Amounts payable within one year | 42/48 | €29,666 | €19,583 | -€10,083 | -34.0% |
| Current portion of amounts payable after more than one year | 42 | €1,508 | €1,508 | = | 0.0% |
| Trade debts | 44 | €11 | €0 | -€11 | -100.0% |
| Suppliers | 440/4 | €11 | €0 | -€11 | -100.0% |
| Taxes, remuneration and social security | 45 | €15,583 | €5,510 | -€10,073 | -64.6% |
| Taxes | 450/3 | €15,583 | €5,510 | -€10,073 | -64.6% |
| Other amounts payable | 47/48 | €12,564 | €12,565 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,281 | €10,645 | +€365 | +3.5% |
| Other operating charges | 640/8 | €13,635 | €880 | -€12,756 | -93.5% |
| Gross operating margin | 9900 | €40,534 | €4,671 | -€35,863 | -88.5% |
| Operating profit (loss) | 9901 | €16,618 | -€6,854 | -€23,472 | |
| Financial charges | 65/66B | €345 | €357 | +€11 | +3.3% |
| Recurring financial charges | 65 | €345 | €357 | +€11 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €16,272 | -€7,211 | -€23,483 | |
| Transfer from deferred taxes | 780 | €0 | €1,492 | +€1,492 | |
| Income taxes | 67/77 | €5,510 | €0 | -€5,510 | -100.0% |
| Profit (loss) for the period | 9904 | €10,762 | -€5,718 | -€16,480 | |
| Transfer from tax-exempt reserves | 789 | €0 | €2,239 | +€2,239 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,762 | -€3,480 | -€14,241 |
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.