GIMAR MANAGEMENT: 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.
GIMAR MANAGEMENT
Largest movements
- Current investments -€553,980
down €553,980 (-52.2%), from €1.1m to €506,534
- Tangible fixed assets +€445,804
up €445,804 (+43.5%), from €1.0m to €1.5m
of which Land and buildings: +€449,468
- Reserves -€64,295
down €64,295 (-3.5%), from €1.8m to €1.8m
of which Distributable reserves: -€56,634
- Other debts -€39,300
down €39,300 (-19.6%), from €200,574 to €161,274
- Financial income -€21,729
down €21,729 (-81.2%), from €26,760 to €5,031
- Depreciation +€18,729
up €18,729 (+95.4%), from €19,636 to €38,365
- Gross operating margin -€14,405
down €14,405, from €11,795 to -€2,610
- Staff costs -€8,962
no longer reported in 2025 (was €8,962)
- Financial charges +€6,900
up €6,900, from -€2,891 to €4,010
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 | €2,102,803 | €1,999,103 | -€103,700 | -4.9% |
| Fixed assets | 21/28 | €1,025,789 | €1,471,592 | +€445,804 | +43.5% |
| Tangible fixed assets | 22/27 | €1,025,289 | €1,471,092 | +€445,804 | +43.5% |
| Land and buildings | 22 | €1,017,119 | €1,466,587 | +€449,468 | +44.2% |
| Plant, machinery and equipment | 23 | €2,046 | €1,175 | -€871 | -42.6% |
| Furniture and vehicles | 24 | €6,123 | €3,330 | -€2,793 | -45.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €1,077,015 | €527,511 | -€549,504 | -51.0% |
| Amounts receivable within one year | 40/41 | €11,359 | €7,669 | -€3,690 | -32.5% |
| Trade receivables | 40 | - | €4 | +€4 | |
| Other amounts receivable | 41 | €11,359 | €7,665 | -€3,694 | -32.5% |
| Current investments | 50/53 | €1,060,514 | €506,534 | -€553,980 | -52.2% |
| Cash at bank and in hand | 54/58 | €4,888 | €13,308 | +€8,421 | +172% |
| Deferred charges and accrued income | 490/1 | €254 | - | -€254 | |
| Total equity and liabilities | 10/49 | €2,102,803 | €1,999,103 | -€103,700 | -4.9% |
| Equity | 10/15 | €1,826,423 | €1,762,128 | -€64,295 | -3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,820,223 | €1,755,928 | -€64,295 | -3.5% |
| Tax-exempt reserves | 132 | €219,480 | €211,818 | -€7,662 | -3.5% |
| Distributable reserves | 133 | €1,600,744 | €1,544,110 | -€56,634 | -3.5% |
| Provisions and deferred taxes | 16 | €73,160 | €70,606 | -€2,554 | -3.5% |
| Deferred taxes | 168 | €73,160 | €70,606 | -€2,554 | -3.5% |
| Amounts payable | 17/49 | €203,220 | €166,369 | -€36,851 | -18.1% |
| Amounts payable within one year | 42/48 | €201,560 | €164,709 | -€36,851 | -18.3% |
| Trade debts | 44 | €986 | €3,436 | +€2,449 | +248% |
| Suppliers | 440/4 | €986 | €3,436 | +€2,449 | +248% |
| Other amounts payable | 47/48 | €200,574 | €161,274 | -€39,300 | -19.6% |
| Accrued charges and deferred income | 492/3 | €1,660 | €1,660 | = | 0.0% |
| Non-recurring operating income | 76A | - | €2,066 | +€2,066 | |
| Remuneration, social security and pensions | 62 | €8,962 | - | -€8,962 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,636 | €38,365 | +€18,729 | +95.4% |
| Other operating charges | 640/8 | €28,402 | €26,896 | -€1,507 | -5.3% |
| Non-recurring operating charges | 66A | €647 | - | -€647 | |
| Gross operating margin | 9900 | €11,795 | -€2,610 | -€14,405 | |
| Operating profit (loss) | 9901 | -€45,852 | -€67,871 | -€22,019 | -48.0% |
| Financial income | 75/76B | €26,760 | €5,031 | -€21,729 | -81.2% |
| Recurring financial income | 75 | €26,760 | €5,031 | -€21,729 | -81.2% |
| Financial charges | 65/66B | -€2,891 | €4,010 | +€6,900 | |
| Recurring financial charges | 65 | -€2,891 | €4,010 | +€6,900 | |
| Profit (loss) for the period before taxes | 9903 | -€16,201 | -€66,849 | -€50,648 | -313% |
| Transfer from deferred taxes | 780 | €2,554 | €2,554 | = | 0.0% |
| Income taxes | 67/77 | €361 | - | -€361 | |
| Profit (loss) for the period | 9904 | -€14,008 | -€64,295 | -€50,287 | -359% |
| Transfer from tax-exempt reserves | 789 | €7,662 | €7,662 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,347 | -€56,634 | -€50,287 | -792% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.