Immo Gepeve: 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 Gepeve
Largest movements
- Cash -€193,478
down €193,478 (-24.3%), from €796,437 to €602,959
mainly Contributions, distributions and other (-€193,500) and Tax, wage and social debts (-€23,872)
- Tangible fixed assets -€21,772
down €21,772 (-9.8%), from €221,359 to €199,587
of which Other tangible fixed assets: -€21,772
- Reserves -€173,169
down €173,169 (-21.7%), from €798,099 to €624,930
of which Distributable reserves: -€123,089
- Tax, wage and social debts -€23,872
down €23,872 (-46.9%), from €50,863 to €26,991
- Provisions -€19,668
down €19,668 (-18.4%), from €106,651 to €86,982
- Financial income -€11,684
down €11,684 (-62.7%), from €18,626 to €6,942
- Gross operating margin +€9,791
up €9,791 (+21.0%), from €46,689 to €56,480
- Taxes -€924
down €924 (-3.1%), from €29,997 to €29,074
- Financial charges +€727
up €727 (+132%), from €553 to €1,280
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 | €1,018,678 | €803,429 | -€215,249 | -21.1% |
| Fixed assets | 21/28 | €222,242 | €200,470 | -€21,772 | -9.8% |
| Tangible fixed assets | 22/27 | €221,359 | €199,587 | -€21,772 | -9.8% |
| Land and buildings | 22 | €38,306 | €38,306 | = | 0.0% |
| Other tangible fixed assets | 26 | €183,053 | €161,281 | -€21,772 | -11.9% |
| Financial fixed assets | 28 | €883 | €883 | = | 0.0% |
| Current assets | 29/58 | €796,437 | €602,959 | -€193,478 | -24.3% |
| Cash at bank and in hand | 54/58 | €796,437 | €602,959 | -€193,478 | -24.3% |
| Total equity and liabilities | 10/49 | €1,018,678 | €803,429 | -€215,249 | -21.1% |
| Equity | 10/15 | €859,599 | €686,430 | -€173,169 | -20.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €798,099 | €624,930 | -€173,169 | -21.7% |
| Non-distributable reserves | 130/1 | €19,250 | €7,350 | -€11,900 | -61.8% |
| Legal reserve | 130 | €19,250 | €7,350 | -€11,900 | -61.8% |
| Tax-exempt reserves | 132 | €207,027 | €168,848 | -€38,180 | -18.4% |
| Distributable reserves | 133 | €571,822 | €448,733 | -€123,089 | -21.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €106,651 | €86,982 | -€19,668 | -18.4% |
| Deferred taxes | 168 | €106,651 | €86,982 | -€19,668 | -18.4% |
| Amounts payable | 17/49 | €52,429 | €30,016 | -€22,412 | -42.7% |
| Amounts payable within one year | 42/48 | €51,178 | €26,991 | -€24,187 | -47.3% |
| Trade debts | 44 | €315 | €0 | -€315 | -100% |
| Suppliers | 440/4 | €315 | €0 | -€315 | -100% |
| Taxes, remuneration and social security | 45 | €50,863 | €26,991 | -€23,872 | -46.9% |
| Taxes | 450/3 | €50,863 | €26,991 | -€23,872 | -46.9% |
| Accrued charges and deferred income | 492/3 | €1,250 | €3,025 | +€1,775 | +142% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,772 | €21,772 | = | 0.0% |
| Other operating charges | 640/8 | €10,891 | €10,634 | -€257 | -2.4% |
| Gross operating margin | 9900 | €46,689 | €56,480 | +€9,791 | +21.0% |
| Operating profit (loss) | 9901 | €14,026 | €24,075 | +€10,049 | +71.6% |
| Financial income | 75/76B | €18,626 | €6,942 | -€11,684 | -62.7% |
| Recurring financial income | 75 | €18,626 | €6,942 | -€11,684 | -62.7% |
| Financial charges | 65/66B | €553 | €1,280 | +€727 | +132% |
| Recurring financial charges | 65 | €553 | €1,280 | +€727 | +132% |
| Profit (loss) for the period before taxes | 9903 | €32,099 | €29,736 | -€2,363 | -7.4% |
| Transfer from deferred taxes | 780 | €19,668 | €19,668 | = | 0.0% |
| Income taxes | 67/77 | €29,997 | €29,074 | -€924 | -3.1% |
| Profit (loss) for the period | 9904 | €21,770 | €20,331 | -€1,439 | -6.6% |
| Transfer from tax-exempt reserves | 789 | €38,180 | €38,180 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,950 | €58,511 | -€1,439 | -2.4% |
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.