IMMO GERARDY: 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 GERARDY
Largest movements
- Cash -€17,792
down €17,792 (-54.9%), from €32,397 to €14,605
mainly Investment in fixed assets (net) (-€32,730) and Net result for the year (-€1,026)
- Tangible fixed assets +€16,228
up €16,228 (+7.1%), from €227,433 to €243,661
of which Land and buildings: +€14,707
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€4,644
up €4,644 (+35.6%), from €13,027 to €17,671
- Depreciation +€4,213
up €4,213 (+34.3%), from €12,289 to €16,502
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 | €261,227 | €259,714 | -€1,513 | -0.6% |
| Fixed assets | 21/28 | €227,433 | €243,661 | +€16,228 | +7.1% |
| Tangible fixed assets | 22/27 | €227,433 | €243,661 | +€16,228 | +7.1% |
| Land and buildings | 22 | €227,433 | €242,140 | +€14,707 | +6.5% |
| Furniture and vehicles | 24 | - | €1,521 | +€1,521 | |
| Current assets | 29/58 | €33,794 | €16,053 | -€17,741 | -52.5% |
| Cash at bank and in hand | 54/58 | €32,397 | €14,605 | -€17,792 | -54.9% |
| Deferred charges and accrued income | 490/1 | €1,397 | €1,448 | +€51 | +3.7% |
| Total equity and liabilities | 10/49 | €261,227 | €259,714 | -€1,513 | -0.6% |
| Equity | 10/15 | €75,371 | €74,345 | -€1,026 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Share premium | 1100/10 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €75,335 | €75,335 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €73,475 | €73,475 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,564 | -€19,590 | -€1,026 | -5.5% |
| Amounts payable | 17/49 | €185,856 | €185,369 | -€487 | -0.3% |
| Amounts payable after more than one year | 17 | €2,582 | €2,582 | = | 0.0% |
| Other amounts payable | 178/9 | €2,582 | €2,582 | = | 0.0% |
| Amounts payable within one year | 42/48 | €183,274 | €182,787 | -€487 | -0.3% |
| Trade debts | 44 | €1,108 | €622 | -€486 | -43.9% |
| Suppliers | 440/4 | €1,108 | €622 | -€486 | -43.9% |
| Other amounts payable | 47/48 | €182,166 | €182,165 | -€1 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,289 | €16,502 | +€4,213 | +34.3% |
| Other operating charges | 640/8 | €2,056 | €2,121 | +€65 | +3.2% |
| Gross operating margin | 9900 | €13,027 | €17,671 | +€4,644 | +35.6% |
| Operating profit (loss) | 9901 | -€1,318 | -€952 | +€366 | +27.8% |
| Financial charges | 65/66B | €73 | €74 | +€1 | +1.4% |
| Recurring financial charges | 65 | €73 | €74 | +€1 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,391 | -€1,026 | +€365 | +26.2% |
| Profit (loss) for the period | 9904 | -€1,391 | -€1,026 | +€365 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,391 | -€1,026 | +€365 | +26.2% |
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 2 October 2026 via checked.be.