IMMO GHO: 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 GHO
Largest movements
- Cash +€24,180
up €24,180 (+11.9%), from €202,766 to €226,946
mainly Depreciation (+€22,620) and Net result for the year (+€17,197)
- Tangible fixed assets -€22,620
down €22,620 (-11.9%), from €189,679 to €167,059
of which Land and buildings: -€21,962
- Debts after one year -€14,675
down €14,675 (-92.1%), from €15,931 to €1,256
- Reserves +€7,197
up €7,197 (+4.1%), from €175,936 to €183,133
of which Distributable reserves: +€7,197
- Other debts +€6,670
up €6,670 (+27.3%), from €24,424 to €31,094
- Depreciation -€4,036
down €4,036 (-15.1%), from €26,656 to €22,620
- Taxes +€2,031
up €2,031 (+31.9%), from €6,364 to €8,395
- Gross operating margin +€1,629
up €1,629 (+3.2%), from €50,867 to €52,495
- Financial charges -€728
down €728 (-35.1%), from €2,073 to €1,345
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 | €393,076 | €395,079 | +€2,003 | +0.5% |
| Fixed assets | 21/28 | €189,679 | €167,059 | -€22,620 | -11.9% |
| Tangible fixed assets | 22/27 | €189,679 | €167,059 | -€22,620 | -11.9% |
| Land and buildings | 22 | €188,193 | €166,231 | -€21,962 | -11.7% |
| Plant, machinery and equipment | 23 | €934 | €540 | -€393 | -42.1% |
| Furniture and vehicles | 24 | €552 | €287 | -€265 | -48.0% |
| Current assets | 29/58 | €203,397 | €228,021 | +€24,624 | +12.1% |
| Amounts receivable within one year | 40/41 | €104 | €0 | -€104 | -100.0% |
| Other amounts receivable | 41 | €104 | €0 | -€104 | -100.0% |
| Cash at bank and in hand | 54/58 | €202,766 | €226,946 | +€24,180 | +11.9% |
| Deferred charges and accrued income | 490/1 | €527 | €1,074 | +€547 | +103.8% |
| Total equity and liabilities | 10/49 | €393,076 | €395,079 | +€2,003 | +0.5% |
| Equity | 10/15 | €337,278 | €344,475 | +€7,197 | +2.1% |
| Contributions | 10/11 | €80,600 | €80,600 | = | 0.0% |
| Capital | 10 | €80,600 | €80,600 | = | 0.0% |
| Issued capital | 100 | €80,600 | €80,600 | = | 0.0% |
| Reserves | 13 | €175,936 | €183,133 | +€7,197 | +4.1% |
| Non-distributable reserves | 130/1 | €8,060 | €8,060 | = | 0.0% |
| Legal reserve | 130 | €8,060 | €8,060 | = | 0.0% |
| Distributable reserves | 133 | €167,876 | €175,073 | +€7,197 | +4.3% |
| Profit (loss) carried forward | 14 | €80,742 | €80,742 | = | 0.0% |
| Amounts payable | 17/49 | €55,798 | €50,604 | -€5,194 | -9.3% |
| Amounts payable after more than one year | 17 | €15,931 | €1,256 | -€14,675 | -92.1% |
| Advances received on contracts in progress | 176 | €15,931 | €1,256 | -€14,675 | -92.1% |
| Amounts payable within one year | 42/48 | €38,767 | €47,421 | +€8,654 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €13,956 | €14,675 | +€719 | +5.1% |
| Trade debts | 44 | €22 | €982 | +€959 | +4288.2% |
| Suppliers | 440/4 | €22 | €982 | +€959 | +4288.2% |
| Taxes, remuneration and social security | 45 | €365 | €671 | +€306 | +84.0% |
| Taxes | 450/3 | €365 | €671 | +€306 | +84.0% |
| Other amounts payable | 47/48 | €24,424 | €31,094 | +€6,670 | +27.3% |
| Accrued charges and deferred income | 492/3 | €1,100 | €1,927 | +€827 | +75.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,656 | €22,620 | -€4,036 | -15.1% |
| Other operating charges | 640/8 | €5,441 | €5,351 | -€91 | -1.7% |
| Gross operating margin | 9900 | €50,867 | €52,495 | +€1,629 | +3.2% |
| Operating profit (loss) | 9901 | €18,769 | €24,524 | +€5,755 | +30.7% |
| Financial income | 75/76B | €2,222 | €2,412 | +€190 | +8.6% |
| Recurring financial income | 75 | €2,222 | €2,412 | +€190 | +8.6% |
| Financial charges | 65/66B | €2,073 | €1,345 | -€728 | -35.1% |
| Recurring financial charges | 65 | €2,073 | €1,345 | -€728 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €18,918 | €25,592 | +€6,673 | +35.3% |
| Income taxes | 67/77 | €6,364 | €8,395 | +€2,031 | +31.9% |
| Profit (loss) for the period | 9904 | €12,554 | €17,197 | +€4,643 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,554 | €17,197 | +€4,643 | +37.0% |
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 10 October 2026 via checked.be.