GI&ME: 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.
GI&ME
Largest movements
- Receivables after one year -€50,000
no longer reported in 2025 (was €50,000)
- Tangible fixed assets +€39,003
up €39,003 (+6.1%), from €644,664 to €683,666
of which Assets under construction and advance payments: +€48,760
- Cash -€13,108
down €13,108 (-57.0%), from €22,980 to €9,871
mainly Investment in fixed assets (net) (-€81,934) and Net result for the year (-€20,426)
- Profit (loss) carried forward -€20,426
down €20,426 (-185.6%), from -€11,003 to -€31,429
- Gross operating margin -€30,702
down €30,702 (-47.3%), from €64,864 to €34,162
- Depreciation -€7,705
down €7,705 (-15.2%), from €50,637 to €42,932
- Other operating charges +€1,149
up €1,149 (+39.6%), from €2,904 to €4,054
- Financial charges +€1,025
up €1,025 (+15.6%), from €6,578 to €7,603
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 | €746,433 | €722,886 | -€23,547 | -3.2% |
| Fixed assets | 21/28 | €644,754 | €683,756 | +€39,003 | +6.0% |
| Tangible fixed assets | 22/27 | €644,664 | €683,666 | +€39,003 | +6.1% |
| Land and buildings | 22 | €644,664 | €634,906 | -€9,757 | -1.5% |
| Assets under construction and advance payments | 27 | - | €48,760 | +€48,760 | |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €101,680 | €39,130 | -€62,550 | -61.5% |
| Amounts receivable after more than one year | 29 | €50,000 | - | -€50,000 | |
| Other amounts receivable | 291 | €50,000 | - | -€50,000 | |
| Amounts receivable within one year | 40/41 | €28,700 | €27,729 | -€971 | -3.4% |
| Trade receivables | 40 | €26,700 | €3,247 | -€23,453 | -87.8% |
| Other amounts receivable | 41 | €2,000 | €24,482 | +€22,482 | +1124.1% |
| Cash at bank and in hand | 54/58 | €22,980 | €9,871 | -€13,108 | -57.0% |
| Deferred charges and accrued income | 490/1 | - | €1,529 | +€1,529 | |
| Total equity and liabilities | 10/49 | €746,433 | €722,886 | -€23,547 | -3.2% |
| Equity | 10/15 | €64,800 | €44,374 | -€20,426 | -31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,203 | €57,203 | = | 0.0% |
| Distributable reserves | 133 | €57,203 | €57,203 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,003 | -€31,429 | -€20,426 | -185.6% |
| Amounts payable | 17/49 | €681,633 | €678,512 | -€3,121 | -0.5% |
| Amounts payable after more than one year | 17 | €645,349 | €641,119 | -€4,230 | -0.7% |
| Financial debts | 170/4 | €345,303 | €342,119 | -€3,184 | -0.9% |
| Other amounts payable | 178/9 | €300,046 | €299,000 | -€1,046 | -0.3% |
| Amounts payable within one year | 42/48 | €36,284 | €37,393 | +€1,109 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €29,990 | €30,481 | +€491 | +1.6% |
| Trade debts | 44 | €2,301 | €1,789 | -€512 | -22.2% |
| Suppliers | 440/4 | €2,301 | €1,789 | -€512 | -22.2% |
| Taxes, remuneration and social security | 45 | €3,994 | €5,123 | +€1,129 | +28.3% |
| Taxes | 450/3 | €1,568 | €5,123 | +€3,555 | +226.8% |
| Remuneration and social security | 454/9 | €2,426 | - | -€2,426 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,637 | €42,932 | -€7,705 | -15.2% |
| Other operating charges | 640/8 | €2,904 | €4,054 | +€1,149 | +39.6% |
| Non-recurring operating charges | 66A | €493 | - | -€493 | |
| Gross operating margin | 9900 | €64,864 | €34,162 | -€30,702 | -47.3% |
| Operating profit (loss) | 9901 | €10,830 | -€12,823 | -€23,653 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,578 | €7,603 | +€1,025 | +15.6% |
| Recurring financial charges | 65 | €6,578 | €7,603 | +€1,025 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €4,253 | -€20,426 | -€24,678 | |
| Profit (loss) for the period | 9904 | €4,253 | -€20,426 | -€24,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,253 | -€20,426 | -€24,678 |
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.