GESTIMMSAC: 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.
GESTIMMSAC
Largest movements
- Tangible fixed assets -€46,407
down €46,407 (-12.5%), from €370,522 to €324,115
of which Land and buildings: -€45,454
- Cash +€13,141
up €13,141 (+122%), from €10,775 to €23,916
mainly Depreciation (+€46,407) and Accrued charges and deferred income (+€1,410)
- Debts after one year -€22,784
down €22,784 (-74.7%), from €30,484 to €7,700
- Reserves -€5,246
down €5,246 (-2.7%), from €194,662 to €189,416
of which Tax-exempt reserves: -€5,246
- Gross operating margin -€2,210
down €2,210 (-5.4%), from €41,131 to €38,921
- Depreciation +€1,015
up €1,015 (+2.2%), from €45,393 to €46,407
- Financial income -€923
down €923 (-34.7%), from €2,663 to €1,739
- Financial charges -€440
down €440 (-30.0%), from €1,468 to €1,028
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €484,016 | €451,634 | -€32,382 | -6.7% |
| Fixed assets | 21/28 | €370,522 | €324,115 | -€46,407 | -12.5% |
| Tangible fixed assets | 22/27 | €370,522 | €324,115 | -€46,407 | -12.5% |
| Land and buildings | 22 | €366,711 | €321,257 | -€45,454 | -12.4% |
| Furniture and vehicles | 24 | €3,811 | €2,858 | -€953 | -25.0% |
| Current assets | 29/58 | €113,494 | €127,519 | +€14,025 | +12.4% |
| Amounts receivable within one year | 40/41 | €855 | €522 | -€333 | -39.0% |
| Other amounts receivable | 41 | €855 | €522 | -€333 | -39.0% |
| Current investments | 50/53 | €101,864 | €103,081 | +€1,217 | +1.2% |
| Cash at bank and in hand | 54/58 | €10,775 | €23,916 | +€13,141 | +122% |
| Total equity and liabilities | 10/49 | €484,016 | €451,634 | -€32,382 | -6.7% |
| Equity | 10/15 | €412,064 | €402,726 | -€9,338 | -2.3% |
| Contributions | 10/11 | €327,037 | €327,037 | = | 0.0% |
| Capital | 10 | €327,037 | €327,037 | = | 0.0% |
| Issued capital | 100 | €327,037 | €327,037 | = | 0.0% |
| Reserves | 13 | €194,662 | €189,416 | -€5,246 | -2.7% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,583 | €23,336 | -€5,246 | -18.4% |
| Distributable reserves | 133 | €146,080 | €146,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,636 | -€113,727 | -€4,091 | -3.7% |
| Provisions and deferred taxes | 16 | €14,150 | €11,494 | -€2,655 | -18.8% |
| Deferred taxes | 168 | €14,150 | €11,494 | -€2,655 | -18.8% |
| Amounts payable | 17/49 | €57,803 | €37,414 | -€20,389 | -35.3% |
| Amounts payable after more than one year | 17 | €30,484 | €7,700 | -€22,784 | -74.7% |
| Financial debts | 170/4 | €30,484 | €7,700 | -€22,784 | -74.7% |
| Amounts payable within one year | 42/48 | €25,869 | €26,855 | +€986 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €22,320 | €22,784 | +€464 | +2.1% |
| Trade debts | 44 | €1,001 | €1,188 | +€187 | +18.7% |
| Suppliers | 440/4 | €1,001 | €1,188 | +€187 | +18.7% |
| Other amounts payable | 47/48 | €2,548 | €2,882 | +€335 | +13.1% |
| Accrued charges and deferred income | 492/3 | €1,450 | €2,860 | +€1,410 | +97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,393 | €46,407 | +€1,015 | +2.2% |
| Other operating charges | 640/8 | €5,058 | €5,218 | +€160 | +3.2% |
| Gross operating margin | 9900 | €41,131 | €38,921 | -€2,210 | -5.4% |
| Operating profit (loss) | 9901 | -€9,320 | -€12,704 | -€3,384 | -36.3% |
| Financial income | 75/76B | €2,663 | €1,739 | -€923 | -34.7% |
| Recurring financial income | 75 | €2,663 | €1,739 | -€923 | -34.7% |
| Financial charges | 65/66B | €1,468 | €1,028 | -€440 | -30.0% |
| Recurring financial charges | 65 | €1,468 | €1,028 | -€440 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,125 | -€11,993 | -€3,868 | -47.6% |
| Transfer from deferred taxes | 780 | €2,655 | €2,655 | +€0 | 0.0% |
| Profit (loss) for the period | 9904 | -€5,470 | -€9,338 | -€3,868 | -70.7% |
| Transfer from tax-exempt reserves | 789 | €5,246 | €5,246 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€224 | -€4,091 | -€3,868 | -1,729% |
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 15 October 2026 via checked.be.