IMMO GPI: 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 GPI
Largest movements
- Tangible fixed assets -€1.5m
down €1.5m (-13.9%), from €10.8m to €9.3m
of which Land and buildings: -€1.5m
- Stocks and contracts -€390,962
down €390,962 (-37.6%), from €1.0m to €648,026
- Cash +€173,921
up €173,921 (+195.8%), from €88,806 to €262,727
mainly Investment in fixed assets (net) (+€1.2m) and Net result for the year (+€528,879)
- Current portion of long-term debt -€2.8m
down €2.8m (-44.4%), from €6.3m to €3.5m
- Profit (loss) carried forward +€528,879
up €528,879, from -€187,033 to €341,846
- Debts after one year +€370,315
up €370,315 (+6.3%), from €5.8m to €6.2m
of which Financial debts: +€386,463
- Accrued charges and deferred income +€142,049
up €142,049 (+229.6%), from €61,856 to €203,906
- Gross operating margin -€286,377
down €286,377 (-16.1%), from €1.8m to €1.5m
- Other operating charges -€24,390
down €24,390 (-25.0%), from €97,583 to €73,193
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 | €12,063,230 | €10,340,604 | -€1.7m | -14.3% |
| Fixed assets | 21/28 | €10,765,735 | €9,265,056 | -€1.5m | -13.9% |
| Tangible fixed assets | 22/27 | €10,765,735 | €9,265,056 | -€1.5m | -13.9% |
| Land and buildings | 22 | €10,723,116 | €9,226,023 | -€1.5m | -14.0% |
| Furniture and vehicles | 24 | €42,619 | €15,933 | -€26,687 | -62.6% |
| Assets under construction and advance payments | 27 | - | €23,100 | +€23,100 | |
| Current assets | 29/58 | €1,297,495 | €1,075,547 | -€221,948 | -17.1% |
| Amounts receivable after more than one year | 29 | €143,446 | €138,413 | -€5,033 | -3.5% |
| Trade receivables | 290 | €143,446 | €138,413 | -€5,033 | -3.5% |
| Stocks and contracts in progress | 3 | €1,038,989 | €648,026 | -€390,962 | -37.6% |
| Stocks | 30/36 | €1,038,989 | €648,026 | -€390,962 | -37.6% |
| Amounts receivable within one year | 40/41 | €10,332 | €9,033 | -€1,299 | -12.6% |
| Trade receivables | 40 | €5,401 | €0 | -€5,401 | -100.0% |
| Other amounts receivable | 41 | €4,932 | €9,033 | +€4,101 | +83.2% |
| Cash at bank and in hand | 54/58 | €88,806 | €262,727 | +€173,921 | +195.8% |
| Deferred charges and accrued income | 490/1 | €15,922 | €17,347 | +€1,426 | +9.0% |
| Total equity and liabilities | 10/49 | €12,063,230 | €10,340,604 | -€1.7m | -14.3% |
| Equity | 10/15 | -€168,433 | €360,446 | +€528,879 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,033 | €341,846 | +€528,879 | |
| Amounts payable | 17/49 | €12,231,663 | €9,980,158 | -€2.3m | -18.4% |
| Amounts payable after more than one year | 17 | €5,843,300 | €6,213,615 | +€370,315 | +6.3% |
| Financial debts | 170/4 | €5,788,998 | €6,175,461 | +€386,463 | +6.7% |
| Other amounts payable | 178/9 | €54,302 | €38,154 | -€16,148 | -29.7% |
| Amounts payable within one year | 42/48 | €6,326,506 | €3,562,636 | -€2.8m | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €6,278,137 | €3,491,852 | -€2.8m | -44.4% |
| Trade debts | 44 | €28,955 | €52,408 | +€23,453 | +81.0% |
| Suppliers | 440/4 | €28,955 | €52,408 | +€23,453 | +81.0% |
| Taxes, remuneration and social security | 45 | €19,414 | €18,376 | -€1,038 | -5.3% |
| Taxes | 450/3 | €19,414 | €18,376 | -€1,038 | -5.3% |
| Accrued charges and deferred income | 492/3 | €61,856 | €203,906 | +€142,049 | +229.6% |
| Non-recurring operating income | 76A | €0 | €0 | +€0 | +80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,520 | €323,919 | +€14,399 | +4.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €97,583 | €73,193 | -€24,390 | -25.0% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -100.0% |
| Gross operating margin | 9900 | €1,779,995 | €1,493,618 | -€286,377 | -16.1% |
| Operating profit (loss) | 9901 | €1,372,892 | €1,096,506 | -€276,386 | -20.1% |
| Financial income | 75/76B | €580 | €1,645 | +€1,065 | +183.8% |
| Recurring financial income | 75 | €580 | €1,645 | +€1,065 | +183.8% |
| Financial charges | 65/66B | €576,411 | €563,142 | -€13,269 | -2.3% |
| Recurring financial charges | 65 | €576,411 | €563,142 | -€13,269 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €797,061 | €535,009 | -€262,052 | -32.9% |
| Income taxes | 67/77 | - | €6,131 | +€6,131 | |
| Profit (loss) for the period | 9904 | €797,061 | €528,879 | -€268,182 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €797,061 | €528,879 | -€268,182 | -33.6% |
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 7 October 2026 via checked.be.