GESTIMO: 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.
What changed
GESTIMO
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €922,705+€95,126
Equity
€3.7m
2024 · €5.8m-€2.1m
Cash
€898,673
2024 · €732,893+€165,780
Balance sheet total
€17.7m
2024 · €17.7m+€71,773
Largest movements
Assets
- Tangible fixed assets -€382,714
down €382,714 (-3.1%), from €12.3m to €11.9m
of which Land and buildings: -€375,705
- Receivables within one year +€283,563
up €283,563 (+38.8%), from €731,698 to €1.0m
Equity and liabilities
- Other debts +€2.9m
up €2.9m (+200.3%), from €1.5m to €4.4m
- Reserves -€2.1m
down €2.1m (-43.5%), from €4.8m to €2.7m
- Debts after one year -€933,569
down €933,569 (-10.0%), from €9.3m to €8.4m
of which Financial debts: -€933,569
Income statement
- Gross operating margin +€315,012
up €315,012 (+24.5%), from €1.3m to €1.6m
- Financial income -€164,670
down €164,670 (-21.6%), from €762,303 to €597,633
- Taxes +€113,218
up €113,218 (+63.0%), from €179,593 to €292,811
- Depreciation -€100,324
down €100,324 (-17.6%), from €568,669 to €468,346
- Financial charges +€35,659
up €35,659 (+12.1%), from €293,683 to €329,342
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
€922,705
Gross operating margin
+€315,012
Depreciation
+€100,324
Other operating charges
-€6,663
Financial income
-€164,670
Financial charges
-€35,659
Taxes
-€113,218
Result 2025
€1.0m
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.
From operations
+€4.3m
Investment
-€85,632
Financing
-€4.0m
Cash 2024
€732,893
From operations (derived)
+€4.3m
Net result for the year
+€1.0m
Depreciation
+€468,346
Receivables within one year
-€283,563
Smaller working-capital items
-€10,339
Tax, wage and social debts
+€90,514
Advances received
+€44,481
Other debts
+€2.9m
Investment (derived)
-€85,632
Investment in fixed assets (net)
-€85,632
Financing
-€4.0m
Debts after one year
-€933,569
Current portion of long-term debt
+€17,113
Contributions, distributions and other
-€3.1m
Cash 2025
€898,673
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,653,418 | €17,725,191 | +€71,773 | +0.4% |
| Fixed assets | 21/28 | €14,921,876 | €14,539,162 | -€382,714 | -2.6% |
| Tangible fixed assets | 22/27 | €12,257,592 | €11,874,878 | -€382,714 | -3.1% |
| Land and buildings | 22 | €11,821,319 | €11,445,614 | -€375,705 | -3.2% |
| Plant, machinery and equipment | 23 | €426,209 | €420,936 | -€5,273 | -1.2% |
| Furniture and vehicles | 24 | €3,064 | €1,328 | -€1,736 | -56.7% |
| Other tangible fixed assets | 26 | €7,000 | €7,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,664,284 | €2,664,284 | = | 0.0% |
| Current assets | 29/58 | €2,731,542 | €3,186,029 | +€454,487 | +16.6% |
| Amounts receivable after more than one year | 29 | €1,260,341 | €1,260,341 | = | 0.0% |
| Trade receivables | 290 | €1,260,341 | €1,260,341 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €731,698 | €1,015,260 | +€283,563 | +38.8% |
| Other amounts receivable | 41 | €731,698 | €1,015,260 | +€283,563 | +38.8% |
| Cash at bank and in hand | 54/58 | €732,893 | €898,673 | +€165,780 | +22.6% |
| Deferred charges and accrued income | 490/1 | €6,610 | €11,754 | +€5,144 | +77.8% |
| Total equity and liabilities | 10/49 | €17,653,418 | €17,725,191 | +€71,773 | +0.4% |
| Equity | 10/15 | €5,752,985 | €3,667,660 | -€2.1m | -36.2% |
| Contributions | 10/11 | €333,814 | €333,814 | = | 0.0% |
| Capital | 10 | €333,814 | €333,814 | = | 0.0% |
| Issued capital | 100 | €333,814 | €333,814 | = | 0.0% |
| Reserves | 13 | €4,797,839 | €2,712,513 | -€2.1m | -43.5% |
| Non-distributable reserves | 130/1 | €4,797,839 | €2,712,513 | -€2.1m | -43.5% |
| Legal reserve | 130 | €43,381 | €43,381 | = | 0.0% |
| Other | 1319 | €4,754,458 | €2,669,132 | -€2.1m | -43.9% |
| Profit (loss) carried forward | 14 | €621,333 | €621,333 | = | 0.0% |
| Provisions and deferred taxes | 16 | €65,000 | €65,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €65,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable | 17/49 | €11,835,433 | €13,992,532 | +€2.2m | +18.2% |
| Amounts payable after more than one year | 17 | €9,328,419 | €8,394,850 | -€933,569 | -10.0% |
| Financial debts | 170/4 | €9,177,219 | €8,243,650 | -€933,569 | -10.2% |
| Other amounts payable | 178/9 | €151,200 | €151,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,507,014 | €5,597,682 | +€3.1m | +123.3% |
| Current portion of amounts payable after more than one year | 42 | €931,995 | €949,108 | +€17,113 | +1.8% |
| Trade debts | 44 | €13,302 | €8,107 | -€5,195 | -39.1% |
| Suppliers | 440/4 | €13,302 | €8,107 | -€5,195 | -39.1% |
| Advances received on contracts in progress | 46 | - | €44,481 | +€44,481 | |
| Taxes, remuneration and social security | 45 | €92,271 | €182,784 | +€90,514 | +98.1% |
| Taxes | 450/3 | €92,271 | €182,784 | +€90,514 | +98.1% |
| Other amounts payable | 47/48 | €1,469,446 | €4,413,202 | +€2.9m | +200.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €568,669 | €468,346 | -€100,324 | -17.6% |
| Other operating charges | 640/8 | €81,697 | €88,361 | +€6,663 | +8.2% |
| Gross operating margin | 9900 | €1,284,044 | €1,599,057 | +€315,012 | +24.5% |
| Operating profit (loss) | 9901 | €633,678 | €1,042,350 | +€408,673 | +64.5% |
| Financial income | 75/76B | €762,303 | €597,633 | -€164,670 | -21.6% |
| Recurring financial income | 75 | €762,303 | €597,633 | -€164,670 | -21.6% |
| Financial charges | 65/66B | €293,683 | €329,342 | +€35,659 | +12.1% |
| Recurring financial charges | 65 | €293,683 | €329,342 | +€35,659 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €1,102,298 | €1,310,642 | +€208,344 | +18.9% |
| Income taxes | 67/77 | €179,593 | €292,811 | +€113,218 | +63.0% |
| Profit (loss) for the period | 9904 | €922,705 | €1,017,831 | +€95,126 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €922,705 | €1,017,831 | +€95,126 | +10.3% |
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 29 September 2026 via checked.be.