GILMAU: 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.
GILMAU
Largest movements
- Tangible fixed assets -€17,037
down €17,037 (-10.6%), from €160,188 to €143,152
of which Furniture and vehicles: -€8,652
- Receivables within one year +€14,862
up €14,862 (+28,472%), from €52 to €14,915
of which Trade receivables: +€14,647
- Deferred charges and accrued income +€6,837
up €6,837 (+321%), from €2,132 to €8,969
- Cash -€4,431
down €4,431 (-99.3%), from €4,460 to €29
mainly Net result for the year (-€29,366) and Receivables within one year (-€14,862)
- Other debts +€24,848
up €24,848 (+197%), from €12,623 to €37,472
- Profit (loss) carried forward -€23,282
down €23,282 (-66.6%), from -€34,977 to -€58,258
- Short-term financial debts +€6,718
up €6,718, from €0 to €6,718
- Reserves -€6,085
down €6,085 (-4.2%), from €145,310 to €139,226
of which Tax-exempt reserves: -€6,085
- Debts after one year -€3,473
down €3,473 (-92.1%), from €3,769 to €297
- Gross operating margin -€20,425
down €20,425, from €14,966 to -€5,459
- Write-downs -€16,300
down €16,300 (-100%), from €16,300 to €0
- Financial charges -€2,604
down €2,604 (-99.3%), from -€2,624 to -€5,228
- Other operating charges +€421
up €421 (+5.4%), from €7,859 to €8,280
- Depreciation -€164
down €164 (-0.7%), from €22,916 to €22,752
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 | €166,832 | €167,065 | +€233 | +0.1% |
| Fixed assets | 21/28 | €160,188 | €143,152 | -€17,037 | -10.6% |
| Tangible fixed assets | 22/27 | €160,188 | €143,152 | -€17,037 | -10.6% |
| Land and buildings | 22 | €125,229 | €118,057 | -€7,172 | -5.7% |
| Plant, machinery and equipment | 23 | €1,874 | €661 | -€1,213 | -64.7% |
| Furniture and vehicles | 24 | €33,085 | €24,433 | -€8,652 | -26.2% |
| Current assets | 29/58 | €6,644 | €23,913 | +€17,269 | +260% |
| Amounts receivable within one year | 40/41 | €52 | €14,915 | +€14,862 | +28,472% |
| Trade receivables | 40 | €0 | €14,647 | +€14,647 | |
| Other amounts receivable | 41 | €52 | €268 | +€216 | +413% |
| Cash at bank and in hand | 54/58 | €4,460 | €29 | -€4,431 | -99.3% |
| Deferred charges and accrued income | 490/1 | €2,132 | €8,969 | +€6,837 | +321% |
| Total equity and liabilities | 10/49 | €166,832 | €167,065 | +€233 | +0.1% |
| Equity | 10/15 | €128,926 | €99,559 | -€29,366 | -22.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €145,310 | €139,226 | -€6,085 | -4.2% |
| Tax-exempt reserves | 132 | €55,410 | €49,326 | -€6,085 | -11.0% |
| Distributable reserves | 133 | €89,900 | €89,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,977 | -€58,258 | -€23,282 | -66.6% |
| Provisions and deferred taxes | 16 | €16,277 | €14,249 | -€2,028 | -12.5% |
| Deferred taxes | 168 | €16,277 | €14,249 | -€2,028 | -12.5% |
| Amounts payable | 17/49 | €21,629 | €53,257 | +€31,627 | +146% |
| Amounts payable after more than one year | 17 | €3,769 | €297 | -€3,473 | -92.1% |
| Financial debts | 170/4 | €3,769 | €297 | -€3,473 | -92.1% |
| Amounts payable within one year | 42/48 | €17,860 | €52,960 | +€35,100 | +197% |
| Current portion of amounts payable after more than one year | 42 | €3,318 | €3,473 | +€154 | +4.6% |
| Financial debts | 43 | €0 | €6,718 | +€6,718 | |
| Credit institutions | 430/8 | €0 | €6,718 | +€6,718 | |
| Trade debts | 44 | €1,319 | €4,645 | +€3,326 | +252% |
| Suppliers | 440/4 | €1,319 | €4,645 | +€3,326 | +252% |
| Taxes, remuneration and social security | 45 | €599 | €653 | +€54 | +9.0% |
| Taxes | 450/3 | €599 | €653 | +€54 | +9.0% |
| Other amounts payable | 47/48 | €12,623 | €37,472 | +€24,848 | +197% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,916 | €22,752 | -€164 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €16,300 | €0 | -€16,300 | -100% |
| Other operating charges | 640/8 | €7,859 | €8,280 | +€421 | +5.4% |
| Gross operating margin | 9900 | €14,966 | -€5,459 | -€20,425 | |
| Operating profit (loss) | 9901 | -€32,108 | -€36,491 | -€4,382 | -13.6% |
| Financial income | 75/76B | €133 | €0 | -€133 | -99.6% |
| Recurring financial income | 75 | €133 | €0 | -€133 | -99.6% |
| Financial charges | 65/66B | -€2,624 | -€5,228 | -€2,604 | -99.3% |
| Recurring financial charges | 65 | -€2,624 | -€5,228 | -€2,604 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,352 | -€31,262 | -€1,911 | -6.5% |
| Transfer from deferred taxes | 780 | €2,028 | €2,028 | = | 0.0% |
| Income taxes | 67/77 | €153 | €132 | -€21 | -13.8% |
| Profit (loss) for the period | 9904 | -€27,477 | -€29,366 | -€1,890 | -6.9% |
| Transfer from tax-exempt reserves | 789 | €6,085 | €6,085 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,392 | -€23,282 | -€1,890 | -8.8% |
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 16 October 2026 via checked.be.