IMMO - GENICRO: 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 - GENICRO
Largest movements
- Stocks and contracts -€1.2m
down €1.2m (-58.3%), from €2.1m to €867,230
- Cash +€1.1m
up €1.1m (+3147.8%), from €36,046 to €1.2m
mainly Stocks and contracts (+€1.2m) and Investment in fixed assets (net) (+€408,100)
- Tangible fixed assets -€577,882
down €577,882 (-13.0%), from €4.4m to €3.9m
of which Land and buildings: -€575,922
- Debts after one year -€598,016
down €598,016 (-42.8%), from €1.4m to €800,000
- Other debts -€169,306
down €169,306 (-7.8%), from €2.2m to €2.0m
- Reserves +€124,809
up €124,809 (+10.2%), from €1.2m to €1.4m
of which Distributable reserves: +€143,958
- Gross operating margin +€68,218
up €68,218 (+16.5%), from €413,484 to €481,701
- Taxes +€30,898
up €30,898 (+180.8%), from €17,088 to €47,986
- Financial charges -€9,081
down €9,081 (-7.2%), from €125,471 to €116,390
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 | €6,568,255 | €5,921,662 | -€646,593 | -9.8% |
| Fixed assets | 21/28 | €4,443,597 | €3,865,715 | -€577,882 | -13.0% |
| Tangible fixed assets | 22/27 | €4,443,597 | €3,865,715 | -€577,882 | -13.0% |
| Land and buildings | 22 | €4,434,681 | €3,858,759 | -€575,922 | -13.0% |
| Plant, machinery and equipment | 23 | €8,916 | €6,956 | -€1,960 | -22.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €2,124,658 | €2,055,947 | -€68,711 | -3.2% |
| Stocks and contracts in progress | 3 | €2,079,688 | €867,230 | -€1.2m | -58.3% |
| Stocks | 30/36 | €2,079,688 | €867,230 | -€1.2m | -58.3% |
| Amounts receivable within one year | 40/41 | €7,912 | €9,926 | +€2,014 | +25.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7,912 | €9,926 | +€2,014 | +25.5% |
| Cash at bank and in hand | 54/58 | €36,046 | €1,170,693 | +€1.1m | +3147.8% |
| Deferred charges and accrued income | 490/1 | €1,012 | €8,099 | +€7,087 | +700.2% |
| Total equity and liabilities | 10/49 | €6,568,255 | €5,921,662 | -€646,593 | -9.8% |
| Equity | 10/15 | €2,729,322 | €2,854,131 | +€124,809 | +4.6% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Capital | 10 | €1,500,000 | €1,500,000 | = | 0.0% |
| Issued capital | 100 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €1,229,322 | €1,354,131 | +€124,809 | +10.2% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Legal reserve | 130 | €150,000 | €150,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €360,015 | €340,866 | -€19,149 | -5.3% |
| Distributable reserves | 133 | €719,307 | €863,265 | +€143,958 | +20.0% |
| Provisions and deferred taxes | 16 | €120,005 | €113,622 | -€6,383 | -5.3% |
| Deferred taxes | 168 | €120,005 | €113,622 | -€6,383 | -5.3% |
| Amounts payable | 17/49 | €3,718,928 | €2,953,909 | -€765,019 | -20.6% |
| Amounts payable after more than one year | 17 | €1,398,016 | €800,000 | -€598,016 | -42.8% |
| Financial debts | 170/4 | €1,398,016 | €800,000 | -€598,016 | -42.8% |
| Amounts payable within one year | 42/48 | €2,320,912 | €2,153,909 | -€167,003 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €122,163 | €122,163 | = | 0.0% |
| Trade debts | 44 | €13,709 | €20,134 | +€6,424 | +46.9% |
| Suppliers | 440/4 | €13,709 | €20,134 | +€6,424 | +46.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €21,392 | €17,270 | -€4,121 | -19.3% |
| Taxes | 450/3 | €21,392 | €17,270 | -€4,121 | -19.3% |
| Other amounts payable | 47/48 | €2,163,648 | €1,994,342 | -€169,306 | -7.8% |
| Non-recurring operating income | 76A | €152,707 | €0 | -€152,707 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,498 | €169,782 | +€284 | +0.2% |
| Other operating charges | 640/8 | €26,718 | €29,117 | +€2,399 | +9.0% |
| Gross operating margin | 9900 | €413,484 | €481,701 | +€68,218 | +16.5% |
| Operating profit (loss) | 9901 | €217,268 | €282,802 | +€65,534 | +30.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €125,471 | €116,390 | -€9,081 | -7.2% |
| Recurring financial charges | 65 | €125,471 | €116,390 | -€9,081 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €91,797 | €166,412 | +€74,615 | +81.3% |
| Transfer from deferred taxes | 780 | €6,383 | €6,383 | = | 0.0% |
| Income taxes | 67/77 | €17,088 | €47,986 | +€30,898 | +180.8% |
| Profit (loss) for the period | 9904 | €81,093 | €124,809 | +€43,716 | +53.9% |
| Transfer from tax-exempt reserves | 789 | €19,149 | €19,149 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €100,242 | €143,958 | +€43,716 | +43.6% |
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 9 October 2026 via checked.be.