GILMO: 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.
GILMO
Largest movements
- Receivables within one year +€133,254
up €133,254 (+27.2%), from €490,171 to €623,425
of which Other amounts receivable: +€79,254
- Tangible fixed assets -€82,422
down €82,422 (-74.2%), from €111,051 to €28,629
of which Land and buildings: -€72,824
- Cash -€12,749
down €12,749 (-80.3%), from €15,872 to €3,122
mainly Receivables within one year (-€133,254) and Debts after one year (-€18,675)
- Reserves +€46,874
up €46,874 (+9.5%), from €494,329 to €541,203
- Debts after one year -€18,675
down €18,675 (-21.1%), from €88,415 to €69,740
- Trade debts +€10,546
up €10,546 (+1108.7%), from €951 to €11,497
- Tax, wage and social debts -€9,585
down €9,585 (-94.2%), from €10,178 to €593
- Gross operating margin -€47,384
down €47,384 (-34.0%), from €139,366 to €91,982
- Write-downs -€32,800
no longer reported in 2025 (was €32,800)
- Taxes -€4,285
down €4,285 (-16.0%), from €26,700 to €22,415
- Depreciation -€4,094
down €4,094 (-29.6%), from €13,844 to €9,750
- Financial charges -€3,524
down €3,524 (-26.1%), from €13,526 to €10,002
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 | €642,515 | €679,019 | +€36,504 | +5.7% |
| Fixed assets | 21/28 | €111,051 | €28,629 | -€82,422 | -74.2% |
| Tangible fixed assets | 22/27 | €111,051 | €28,629 | -€82,422 | -74.2% |
| Land and buildings | 22 | €74,027 | €1,203 | -€72,824 | -98.4% |
| Furniture and vehicles | 24 | €37,025 | €27,427 | -€9,598 | -25.9% |
| Current assets | 29/58 | €531,464 | €650,389 | +€118,926 | +22.4% |
| Amounts receivable after more than one year | 29 | €22,500 | €22,500 | = | 0.0% |
| Other amounts receivable | 291 | €22,500 | €22,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €490,171 | €623,425 | +€133,254 | +27.2% |
| Trade receivables | 40 | - | €54,000 | +€54,000 | |
| Other amounts receivable | 41 | €490,171 | €569,425 | +€79,254 | +16.2% |
| Cash at bank and in hand | 54/58 | €15,872 | €3,122 | -€12,749 | -80.3% |
| Deferred charges and accrued income | 490/1 | €2,921 | €1,342 | -€1,579 | -54.1% |
| Total equity and liabilities | 10/49 | €642,515 | €679,019 | +€36,504 | +5.7% |
| Equity | 10/15 | €512,929 | €559,803 | +€46,874 | +9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €494,329 | €541,203 | +€46,874 | +9.5% |
| Distributable reserves | 133 | €494,329 | €541,203 | +€46,874 | +9.5% |
| Amounts payable | 17/49 | €129,586 | €119,216 | -€10,370 | -8.0% |
| Amounts payable after more than one year | 17 | €88,415 | €69,740 | -€18,675 | -21.1% |
| Financial debts | 170/4 | €88,415 | €69,740 | -€18,675 | -21.1% |
| Amounts payable within one year | 42/48 | €41,171 | €49,476 | +€8,305 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €18,041 | €20,233 | +€2,191 | +12.1% |
| Financial debts | 43 | €12,000 | €17,152 | +€5,152 | +42.9% |
| Credit institutions | 430/8 | €12,000 | €17,152 | +€5,152 | +42.9% |
| Trade debts | 44 | €951 | €11,497 | +€10,546 | +1108.7% |
| Suppliers | 440/4 | €951 | €11,497 | +€10,546 | +1108.7% |
| Taxes, remuneration and social security | 45 | €10,178 | €593 | -€9,585 | -94.2% |
| Taxes | 450/3 | €10,178 | €593 | -€9,585 | -94.2% |
| Non-recurring operating income | 76A | €19,460 | €70,874 | +€51,414 | +264.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,844 | €9,750 | -€4,094 | -29.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,800 | - | -€32,800 | |
| Other operating charges | 640/8 | €1,339 | €1,177 | -€162 | -12.1% |
| Non-recurring operating charges | 66A | €1,905 | €1,764 | -€141 | -7.4% |
| Gross operating margin | 9900 | €139,366 | €91,982 | -€47,384 | -34.0% |
| Operating profit (loss) | 9901 | €89,478 | €79,291 | -€10,187 | -11.4% |
| Financial charges | 65/66B | €13,526 | €10,002 | -€3,524 | -26.1% |
| Recurring financial charges | 65 | €13,526 | €10,002 | -€3,524 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | €75,952 | €69,289 | -€6,663 | -8.8% |
| Income taxes | 67/77 | €26,700 | €22,415 | -€4,285 | -16.0% |
| Profit (loss) for the period | 9904 | €49,252 | €46,874 | -€2,378 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,252 | €46,874 | -€2,378 | -4.8% |
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.