GESTFIM: 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.
GESTFIM
Largest movements
- Tangible fixed assets +€212,224
up €212,224 (+20.8%), from €1.0m to €1.2m
of which Plant, machinery and equipment: +€222,113
- Current investments -€94,039
down €94,039 (-97.1%), from €96,889 to €2,850
- Cash -€50,806
down €50,806 (-60.2%), from €84,325 to €33,519
mainly Investment in fixed assets (net) (-€373,253) and Advances received (-€79,037)
- Stocks and contracts +€35,033
up €35,033 (+249.6%), from €14,036 to €49,069
- Deferred charges and accrued income +€21,406
up €21,406 (+204.6%), from €10,464 to €31,871
- Debts after one year +€271,517
up €271,517 (+503.3%), from €53,947 to €325,464
of which Other amounts payable: +€300,000
- Advances received -€79,037
no longer reported in 2025 (was €79,037)
- Other debts -€64,682
down €64,682 (-23.9%), from €270,339 to €205,657
- Profit (loss) carried forward -€60,155
down €60,155 (-15.5%), from -€387,835 to -€447,990
- Trade debts +€54,464
up €54,464 (+46.7%), from €116,610 to €171,073
- Gross operating margin -€83,574
down €83,574 (-13.4%), from €625,034 to €541,459
- Financial income +€54,423
up €54,423 (+1806.1%), from €3,013 to €57,436
- Staff costs +€46,333
up €46,333 (+11.1%), from €416,513 to €462,845
- Financial charges +€7,086
up €7,086 (+128.5%), from €5,514 to €12,600
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 | €1,327,835 | €1,447,701 | +€119,867 | +9.0% |
| Fixed assets | 21/28 | €1,025,527 | €1,237,852 | +€212,325 | +20.7% |
| Intangible fixed assets | 21 | €5,411 | €5,512 | +€101 | +1.9% |
| Tangible fixed assets | 22/27 | €1,020,116 | €1,232,340 | +€212,224 | +20.8% |
| Land and buildings | 22 | €609,659 | €597,045 | -€12,614 | -2.1% |
| Plant, machinery and equipment | 23 | €227,602 | €449,714 | +€222,113 | +97.6% |
| Furniture and vehicles | 24 | €181,505 | €135,906 | -€45,599 | -25.1% |
| Leasing and similar rights | 25 | - | €49,000 | +€49,000 | |
| Other tangible fixed assets | 26 | €1,350 | €675 | -€675 | -50.0% |
| Current assets | 29/58 | €302,308 | €209,849 | -€92,459 | -30.6% |
| Stocks and contracts in progress | 3 | €14,036 | €49,069 | +€35,033 | +249.6% |
| Stocks | 30/36 | €14,036 | €49,069 | +€35,033 | +249.6% |
| Amounts receivable within one year | 40/41 | €96,593 | €92,540 | -€4,053 | -4.2% |
| Trade receivables | 40 | €7,241 | €13,674 | +€6,433 | +88.9% |
| Other amounts receivable | 41 | €89,353 | €78,866 | -€10,487 | -11.7% |
| Current investments | 50/53 | €96,889 | €2,850 | -€94,039 | -97.1% |
| Cash at bank and in hand | 54/58 | €84,325 | €33,519 | -€50,806 | -60.2% |
| Deferred charges and accrued income | 490/1 | €10,464 | €31,871 | +€21,406 | +204.6% |
| Total equity and liabilities | 10/49 | €1,327,835 | €1,447,701 | +€119,867 | +9.0% |
| Equity | 10/15 | €736,301 | €676,146 | -€60,155 | -8.2% |
| Contributions | 10/11 | €1,096,436 | €1,096,436 | = | 0.0% |
| Capital | 10 | €1,096,436 | €1,096,436 | = | 0.0% |
| Issued capital | 100 | €1,096,436 | €1,096,436 | = | 0.0% |
| Reserves | 13 | €27,700 | €27,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €27,700 | €27,700 | = | 0.0% |
| Legal reserve | 130 | €27,700 | €27,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€387,835 | -€447,990 | -€60,155 | -15.5% |
| Amounts payable | 17/49 | €591,534 | €771,556 | +€180,022 | +30.4% |
| Amounts payable after more than one year | 17 | €53,947 | €325,464 | +€271,517 | +503.3% |
| Financial debts | 170/4 | €52,247 | €23,764 | -€28,483 | -54.5% |
| Other amounts payable | 178/9 | €1,700 | €301,700 | +€300,000 | +17647.1% |
| Amounts payable within one year | 42/48 | €537,587 | €444,448 | -€93,139 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €41,101 | €28,483 | -€12,619 | -30.7% |
| Trade debts | 44 | €116,610 | €171,073 | +€54,464 | +46.7% |
| Suppliers | 440/4 | €116,610 | €171,073 | +€54,464 | +46.7% |
| Advances received on contracts in progress | 46 | €79,037 | - | -€79,037 | |
| Taxes, remuneration and social security | 45 | €30,500 | €39,235 | +€8,735 | +28.6% |
| Taxes | 450/3 | - | €784 | +€784 | |
| Remuneration and social security | 454/9 | €30,500 | €38,451 | +€7,951 | +26.1% |
| Other amounts payable | 47/48 | €270,339 | €205,657 | -€64,682 | -23.9% |
| Accrued charges and deferred income | 492/3 | - | €1,644 | +€1,644 | |
| Remuneration, social security and pensions | 62 | €416,513 | €462,845 | +€46,333 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,315 | €160,927 | -€3,387 | -2.1% |
| Other operating charges | 640/8 | €21,593 | €21,894 | +€301 | +1.4% |
| Gross operating margin | 9900 | €625,034 | €541,459 | -€83,574 | -13.4% |
| Operating profit (loss) | 9901 | €22,614 | -€104,207 | -€126,820 | |
| Financial income | 75/76B | €3,013 | €57,436 | +€54,423 | +1806.1% |
| Recurring financial income | 75 | €3,013 | €57,436 | +€54,423 | +1806.1% |
| Financial charges | 65/66B | €5,514 | €12,600 | +€7,086 | +128.5% |
| Recurring financial charges | 65 | €5,514 | €12,600 | +€7,086 | +128.5% |
| Profit (loss) for the period before taxes | 9903 | €20,113 | -€59,371 | -€79,484 | |
| Income taxes | 67/77 | €729 | €784 | +€56 | +7.7% |
| Profit (loss) for the period | 9904 | €19,384 | -€60,155 | -€79,540 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,384 | -€60,155 | -€79,540 |
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 5 October 2026 via checked.be.