Immo-Gybels: 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.
What changed
Immo-Gybels
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€120,786
2024 · €225,351-€104,565
Equity
€6.2m
2024 · €6.1m+€120,786
Cash
€905,165
2024 · €246,276+€658,888
Balance sheet total
€23.5m
2024 · €22.8m+€722,277
Largest movements
Assets
- Tangible fixed assets +€2.8m
up €2.8m (+14.3%), from €19.4m to €22.2m
of which Land and buildings: +€2.8m
- Receivables within one year -€2.7m
down €2.7m (-88.6%), from €3.1m to €353,931
of which Trade receivables: -€2.6m
- Cash +€658,888
up €658,888 (+268%), from €246,276 to €905,165
mainly Receivables within one year (+€2.7m) and Other debts (+€1.9m)
Equity and liabilities
- Other debts +€1.9m
up €1.9m (+18.5%), from €10.3m to €12.2m
- Short-term financial debts -€716,667
down €716,667 (-66.2%), from €1.1m to €366,667
- Debts after one year -€447,196
down €447,196 (-10.0%), from €4.5m to €4.0m
Income statement
- Gross operating margin -€155,961
down €155,961 (-11.2%), from €1.4m to €1.2m
- Financial charges -€121,212
down €121,212 (-24.7%), from €490,295 to €369,083
of which Non-recurring financial charges: -€137,190
- Depreciation +€71,140
up €71,140 (+14.4%), from €493,203 to €564,343
- Taxes -€58,469
down €58,469 (-69.1%), from €84,595 to €26,126
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.
Result 2024
€225,351
Gross operating margin
-€155,961
Depreciation
-€71,140
Write-downs
-€6,242
Other operating charges
-€4,898
Other operating items
-€38,171
Financial income
-€7,835
Financial charges
+€121,212
Taxes
+€58,469
Result 2025
€120,786
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€5.2m
Investment
-€3.3m
Financing
-€1.2m
Cash 2024
€246,276
From operations (derived)
+€5.2m
Net result for the year
+€120,786
Depreciation
+€564,343
Stocks and contracts
-€15,169
Receivables within one year
+€2.7m
Smaller working-capital items
-€14,123
Trade debts
-€10,909
Other debts
+€1.9m
Accrued charges and deferred income
-€94,240
Investment (derived)
-€3.3m
Investment in fixed assets (net)
-€3.3m
Financing
-€1.2m
Debts after one year
-€447,196
Current portion of long-term debt
-€23,770
Short-term financial debts
-€716,667
Cash 2025
€905,165
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,799,293 | €23,521,570 | +€722,277 | +3.2% |
| Fixed assets | 21/28 | €19,448,287 | €22,233,282 | +€2.8m | +14.3% |
| Tangible fixed assets | 22/27 | €19,448,287 | €22,233,282 | +€2.8m | +14.3% |
| Land and buildings | 22 | €19,286,665 | €22,077,347 | +€2.8m | +14.5% |
| Plant, machinery and equipment | 23 | €36,792 | €34,701 | -€2,091 | -5.7% |
| Furniture and vehicles | 24 | €108,551 | €106,234 | -€2,318 | -2.1% |
| Other tangible fixed assets | 26 | €16,279 | €15,000 | -€1,278 | -7.9% |
| Current assets | 29/58 | €3,351,006 | €1,288,288 | -€2.1m | -61.6% |
| Stocks and contracts in progress | 3 | - | €15,169 | +€15,169 | |
| Stocks | 30/36 | - | €15,169 | +€15,169 | |
| Amounts receivable within one year | 40/41 | €3,095,331 | €353,931 | -€2.7m | -88.6% |
| Trade receivables | 40 | €2,757,845 | €121,224 | -€2.6m | -95.6% |
| Other amounts receivable | 41 | €337,486 | €232,707 | -€104,779 | -31.0% |
| Cash at bank and in hand | 54/58 | €246,276 | €905,165 | +€658,888 | +268% |
| Deferred charges and accrued income | 490/1 | €9,399 | €14,023 | +€4,624 | +49.2% |
| Total equity and liabilities | 10/49 | €22,799,293 | €23,521,570 | +€722,277 | +3.2% |
| Equity | 10/15 | €6,076,246 | €6,197,031 | +€120,786 | +2.0% |
| Contributions | 10/11 | €2,483,012 | €2,483,012 | = | 0.0% |
| Capital | 10 | €2,483,012 | €2,483,012 | = | 0.0% |
| Issued capital | 100 | €2,483,012 | €2,483,012 | = | 0.0% |
| Reserves | 13 | €3,593,234 | €3,714,020 | +€120,786 | +3.4% |
| Non-distributable reserves | 130/1 | €120,160 | €126,810 | +€6,650 | +5.5% |
| Legal reserve | 130 | €120,135 | €126,785 | +€6,650 | +5.5% |
| Reserves not available under the articles | 1311 | €25 | €25 | = | 0.0% |
| Tax-exempt reserves | 132 | €198,071 | €185,854 | -€12,218 | -6.2% |
| Distributable reserves | 133 | €3,275,003 | €3,401,356 | +€126,353 | +3.9% |
| Provisions and deferred taxes | 16 | €66,024 | €61,951 | -€4,073 | -6.2% |
| Deferred taxes | 168 | €66,024 | €61,951 | -€4,073 | -6.2% |
| Amounts payable | 17/49 | €16,657,024 | €17,262,587 | +€605,563 | +3.6% |
| Amounts payable after more than one year | 17 | €4,470,118 | €4,022,922 | -€447,196 | -10.0% |
| Financial debts | 170/4 | €4,470,118 | €4,022,922 | -€447,196 | -10.0% |
| Amounts payable within one year | 42/48 | €12,007,172 | €13,154,172 | +€1.1m | +9.6% |
| Current portion of amounts payable after more than one year | 42 | €470,967 | €447,197 | -€23,770 | -5.0% |
| Financial debts | 43 | €1,083,333 | €366,667 | -€716,667 | -66.2% |
| Credit institutions | 430/8 | €1,083,333 | €366,667 | -€716,667 | -66.2% |
| Trade debts | 44 | €95,203 | €84,293 | -€10,909 | -11.5% |
| Suppliers | 440/4 | €95,203 | €84,293 | -€10,909 | -11.5% |
| Taxes, remuneration and social security | 45 | €76,994 | €71,568 | -€5,426 | -7.0% |
| Taxes | 450/3 | €76,994 | €71,568 | -€5,426 | -7.0% |
| Other amounts payable | 47/48 | €10,280,676 | €12,184,447 | +€1.9m | +18.5% |
| Accrued charges and deferred income | 492/3 | €179,733 | €85,493 | -€94,240 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493,203 | €564,343 | +€71,140 | +14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,242 | +€6,242 | |
| Other operating charges | 640/8 | €111,739 | €116,637 | +€4,898 | +4.4% |
| Non-recurring operating charges | 66A | - | €38,171 | +€38,171 | |
| Gross operating margin | 9900 | €1,391,698 | €1,235,737 | -€155,961 | -11.2% |
| Operating profit (loss) | 9901 | €786,756 | €510,345 | -€276,411 | -35.1% |
| Financial income | 75/76B | €9,413 | €1,578 | -€7,835 | -83.2% |
| Recurring financial income | 75 | €9,413 | €1,578 | -€7,835 | -83.2% |
| Financial charges | 65/66B | €490,295 | €369,083 | -€121,212 | -24.7% |
| Recurring financial charges | 65 | €353,105 | €369,083 | +€15,978 | +4.5% |
| Non-recurring financial charges | 66B | €137,190 | - | -€137,190 | |
| Profit (loss) for the period before taxes | 9903 | €305,873 | €142,839 | -€163,034 | -53.3% |
| Transfer from deferred taxes | 780 | €4,073 | €4,073 | = | 0.0% |
| Income taxes | 67/77 | €84,595 | €26,126 | -€58,469 | -69.1% |
| Profit (loss) for the period | 9904 | €225,351 | €120,786 | -€104,565 | -46.4% |
| Transfer from tax-exempt reserves | 789 | €12,218 | €12,218 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €237,568 | €133,003 | -€104,565 | -44.0% |
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 31 October 2026 via checked.be.