GILMARI: 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.
GILMARI
Largest movements
- Cash -€68,176
down €68,176 (-41.2%), from €165,460 to €97,284
mainly Other debts (-€61,319) and Contributions, distributions and other (-€49,520)
- Receivables within one year -€14,075
down €14,075 (-53.5%), from €26,285 to €12,210
of which Trade receivables: -€14,075
- Tangible fixed assets -€9,080
down €9,080 (-51.7%), from €17,551 to €8,471
- Other debts -€61,319
down €61,319 (-50.3%), from €121,982 to €60,663
- Profit (loss) carried forward -€49,509
down €49,509 (-100.0%), from €49,530 to €21
- Reserves +€26,250
up €26,250 (+1,058%), from €2,480 to €28,730
- Advances received -€12,191
no longer reported in 2025 (was €12,191)
- Tax, wage and social debts +€7,140
up €7,140 (+168%), from €4,247 to €11,387
of which Taxes: +€8,640
- Gross operating margin -€30,184
down €30,184 (-38.5%), from €78,369 to €48,185
- Taxes -€5,902
down €5,902 (-30.5%), from €19,359 to €13,457
- Financial income +€951
up €951 (+131%), from €725 to €1,676
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 | €211,283 | €120,491 | -€90,792 | -43.0% |
| Fixed assets | 21/28 | €17,551 | €8,471 | -€9,080 | -51.7% |
| Tangible fixed assets | 22/27 | €17,551 | €8,471 | -€9,080 | -51.7% |
| Furniture and vehicles | 24 | €17,551 | €8,471 | -€9,080 | -51.7% |
| Current assets | 29/58 | €193,732 | €112,020 | -€81,712 | -42.2% |
| Amounts receivable within one year | 40/41 | €26,285 | €12,210 | -€14,075 | -53.5% |
| Trade receivables | 40 | €20,427 | €6,352 | -€14,075 | -68.9% |
| Other amounts receivable | 41 | €5,858 | €5,858 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €165,460 | €97,284 | -€68,176 | -41.2% |
| Deferred charges and accrued income | 490/1 | €1,987 | €2,526 | +€539 | +27.1% |
| Total equity and liabilities | 10/49 | €211,283 | €120,491 | -€90,792 | -43.0% |
| Equity | 10/15 | €70,610 | €47,351 | -€23,259 | -32.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,480 | €28,730 | +€26,250 | +1,058% |
| Distributable reserves | 133 | €2,480 | €28,730 | +€26,250 | +1,058% |
| Profit (loss) carried forward | 14 | €49,530 | €21 | -€49,509 | -100.0% |
| Amounts payable | 17/49 | €140,673 | €73,140 | -€67,533 | -48.0% |
| Amounts payable within one year | 42/48 | €140,673 | €72,050 | -€68,623 | -48.8% |
| Trade debts | 44 | €2,253 | - | -€2,253 | |
| Suppliers | 440/4 | €2,253 | - | -€2,253 | |
| Advances received on contracts in progress | 46 | €12,191 | - | -€12,191 | |
| Taxes, remuneration and social security | 45 | €4,247 | €11,387 | +€7,140 | +168% |
| Taxes | 450/3 | €2,747 | €11,387 | +€8,640 | +315% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €121,982 | €60,663 | -€61,319 | -50.3% |
| Accrued charges and deferred income | 492/3 | - | €1,090 | +€1,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,080 | €9,080 | = | 0.0% |
| Other operating charges | 640/8 | €654 | €544 | -€110 | -16.8% |
| Gross operating margin | 9900 | €78,369 | €48,185 | -€30,184 | -38.5% |
| Operating profit (loss) | 9901 | €68,635 | €38,561 | -€30,074 | -43.8% |
| Financial income | 75/76B | €725 | €1,676 | +€951 | +131% |
| Recurring financial income | 75 | €725 | €1,676 | +€951 | +131% |
| Financial charges | 65/66B | €471 | €519 | +€48 | +10.2% |
| Recurring financial charges | 65 | €471 | €519 | +€48 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €68,889 | €39,718 | -€29,171 | -42.3% |
| Income taxes | 67/77 | €19,359 | €13,457 | -€5,902 | -30.5% |
| Profit (loss) for the period | 9904 | €49,530 | €26,261 | -€23,269 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,530 | €26,261 | -€23,269 | -47.0% |
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 18 October 2026 via checked.be.