GILMAIRE: 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.
GILMAIRE
Largest movements
- Tangible fixed assets -€42,993
down €42,993 (-7.4%), from €584,873 to €541,881
- Receivables within one year +€17,848
up €17,848 (+14.0%), from €127,524 to €145,373
- Debts after one year -€20,635
down €20,635 (-58.3%), from €35,374 to €14,740
of which Financial debts: -€25,507
- Other debts +€16,949
up €16,949 (+4.6%), from €368,954 to €385,902
- Current portion of long-term debt -€13,304
down €13,304 (-34.1%), from €38,974 to €25,670
- Profit (loss) carried forward -€10,011
down €10,011 (-8.9%), from -€112,664 to -€122,675
- Depreciation -€3,054
down €3,054 (-6.6%), from €46,046 to €42,993
- Gross operating margin +€1,368
up €1,368 (+3.3%), from €41,099 to €42,466
- Financial charges -€1,063
down €1,063 (-24.9%), from €4,265 to €3,202
- Other operating charges +€561
up €561 (+9.8%), from €5,722 to €6,283
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 | €712,410 | €687,265 | -€25,144 | -3.5% |
| Fixed assets | 21/28 | €584,873 | €541,881 | -€42,993 | -7.4% |
| Tangible fixed assets | 22/27 | €584,873 | €541,881 | -€42,993 | -7.4% |
| Land and buildings | 22 | €584,873 | €541,881 | -€42,993 | -7.4% |
| Current assets | 29/58 | €127,536 | €145,385 | +€17,848 | +14.0% |
| Amounts receivable within one year | 40/41 | €127,524 | €145,373 | +€17,848 | +14.0% |
| Trade receivables | 40 | €127,524 | €145,373 | +€17,848 | +14.0% |
| Cash at bank and in hand | 54/58 | €12 | €12 | = | 0.0% |
| Total equity and liabilities | 10/49 | €712,410 | €687,265 | -€25,144 | -3.5% |
| Equity | 10/15 | €239,021 | €229,009 | -€10,011 | -4.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €51,684 | €51,684 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €21,684 | €21,684 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,664 | -€122,675 | -€10,011 | -8.9% |
| Amounts payable | 17/49 | €473,389 | €458,256 | -€15,133 | -3.2% |
| Amounts payable after more than one year | 17 | €35,374 | €14,740 | -€20,635 | -58.3% |
| Financial debts | 170/4 | €35,374 | €9,867 | -€25,507 | -72.1% |
| Other amounts payable | 178/9 | - | €4,872 | +€4,872 | |
| Amounts payable within one year | 42/48 | €438,015 | €443,516 | +€5,501 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €38,974 | €25,670 | -€13,304 | -34.1% |
| Financial debts | 43 | €5,151 | €5,169 | +€18 | +0.3% |
| Credit institutions | 430/8 | €5,151 | €5,169 | +€18 | +0.3% |
| Trade debts | 44 | €24,264 | €26,644 | +€2,380 | +9.8% |
| Suppliers | 440/4 | €24,264 | €26,644 | +€2,380 | +9.8% |
| Taxes, remuneration and social security | 45 | €672 | €132 | -€541 | -80.4% |
| Taxes | 450/3 | €672 | €132 | -€541 | -80.4% |
| Other amounts payable | 47/48 | €368,954 | €385,902 | +€16,949 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,046 | €42,993 | -€3,054 | -6.6% |
| Other operating charges | 640/8 | €5,722 | €6,283 | +€561 | +9.8% |
| Gross operating margin | 9900 | €41,099 | €42,466 | +€1,368 | +3.3% |
| Operating profit (loss) | 9901 | -€10,669 | -€6,809 | +€3,860 | +36.2% |
| Financial charges | 65/66B | €4,265 | €3,202 | -€1,063 | -24.9% |
| Recurring financial charges | 65 | €4,265 | €3,202 | -€1,063 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,935 | -€10,011 | +€4,923 | +33.0% |
| Profit (loss) for the period | 9904 | -€14,935 | -€10,011 | +€4,923 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,935 | -€10,011 | +€4,923 | +33.0% |
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 13 October 2026 via checked.be.