GIMARI: 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.
GIMARI
Largest movements
- Receivables within one year -€50,256
down €50,256 (-20.7%), from €242,862 to €192,605
of which Trade receivables: -€42,183
- Intangible fixed assets +€45,811
up €45,811 (+1349.4%), from €3,395 to €49,206
- Tangible fixed assets -€21,711
down €21,711 (-25.6%), from €84,810 to €63,099
of which Assets under construction and advance payments: -€27,050
- Cash +€16,492
up €16,492 (+231300.6%), from €7 to €16,499
mainly Receivables within one year (+€50,256) and Net result for the year (+€24,416)
- Stocks and contracts +€9,316
up €9,316 (+52.6%), from €17,716 to €27,032
- Trade debts -€42,571
down €42,571 (-34.3%), from €123,946 to €81,375
- Reserves +€23,200
new in 2025: €23,200
- Other debts +€22,959
up €22,959 (+28.4%), from €80,753 to €103,712
- Short-term financial debts -€22,793
no longer reported in 2025 (was €22,793)
- Current portion of long-term debt +€10,466
up €10,466 (+110.5%), from €9,471 to €19,937
- Gross operating margin +€46,730
up €46,730 (+83.6%), from €55,884 to €102,613
- Taxes +€9,932
up €9,932 (+486.5%), from €2,042 to €11,974
- Depreciation +€7,207
up €7,207 (+41.9%), from €17,204 to €24,411
- Financial income -€2,774
down €2,774 (-47.6%), from €5,830 to €3,056
- Other operating charges -€1,713
down €1,713 (-49.7%), from €3,444 to €1,731
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 | €351,891 | €350,098 | -€1,793 | -0.5% |
| Fixed assets | 21/28 | €88,205 | €112,305 | +€24,100 | +27.3% |
| Intangible fixed assets | 21 | €3,395 | €49,206 | +€45,811 | +1349.4% |
| Tangible fixed assets | 22/27 | €84,810 | €63,099 | -€21,711 | -25.6% |
| Plant, machinery and equipment | 23 | €21,492 | €34,674 | +€13,182 | +61.3% |
| Furniture and vehicles | 24 | €35,019 | €27,175 | -€7,843 | -22.4% |
| Assets under construction and advance payments | 27 | €28,300 | €1,250 | -€27,050 | -95.6% |
| Current assets | 29/58 | €263,686 | €237,793 | -€25,892 | -9.8% |
| Stocks and contracts in progress | 3 | €17,716 | €27,032 | +€9,316 | +52.6% |
| Stocks | 30/36 | €17,716 | €27,032 | +€9,316 | +52.6% |
| Amounts receivable within one year | 40/41 | €242,862 | €192,605 | -€50,256 | -20.7% |
| Trade receivables | 40 | €221,622 | €179,439 | -€42,183 | -19.0% |
| Other amounts receivable | 41 | €21,240 | €13,166 | -€8,074 | -38.0% |
| Cash at bank and in hand | 54/58 | €7 | €16,499 | +€16,492 | +231300.6% |
| Deferred charges and accrued income | 490/1 | €3,101 | €1,657 | -€1,444 | -46.6% |
| Total equity and liabilities | 10/49 | €351,891 | €350,098 | -€1,793 | -0.5% |
| Equity | 10/15 | €18,795 | €43,210 | +€24,416 | +129.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €23,200 | +€23,200 | |
| Distributable reserves | 133 | - | €23,200 | +€23,200 | |
| Profit (loss) carried forward | 14 | -€1,205 | €10 | +€1,216 | |
| Amounts payable | 17/49 | €333,096 | €306,888 | -€26,209 | -7.9% |
| Amounts payable after more than one year | 17 | €32,954 | €28,253 | -€4,701 | -14.3% |
| Financial debts | 170/4 | €32,954 | €28,253 | -€4,701 | -14.3% |
| Amounts payable within one year | 42/48 | €299,142 | €278,635 | -€20,508 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €9,471 | €19,937 | +€10,466 | +110.5% |
| Financial debts | 43 | €22,793 | - | -€22,793 | |
| Credit institutions | 430/8 | €22,793 | - | -€22,793 | |
| Trade debts | 44 | €123,946 | €81,375 | -€42,571 | -34.3% |
| Suppliers | 440/4 | €123,946 | €81,375 | -€42,571 | -34.3% |
| Advances received on contracts in progress | 46 | €45,404 | €49,093 | +€3,688 | +8.1% |
| Taxes, remuneration and social security | 45 | €16,774 | €24,517 | +€7,743 | +46.2% |
| Taxes | 450/3 | €6,481 | €19,165 | +€12,684 | +195.7% |
| Remuneration and social security | 454/9 | €10,293 | €5,352 | -€4,941 | -48.0% |
| Other amounts payable | 47/48 | €80,753 | €103,712 | +€22,959 | +28.4% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Non-recurring operating income | 76A | €1,913 | - | -€1,913 | |
| Remuneration, social security and pensions | 62 | €35,381 | €36,475 | +€1,094 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,204 | €24,411 | +€7,207 | +41.9% |
| Other operating charges | 640/8 | €3,444 | €1,731 | -€1,713 | -49.7% |
| Non-recurring operating charges | 66A | - | €82 | +€82 | |
| Gross operating margin | 9900 | €55,884 | €102,613 | +€46,730 | +83.6% |
| Operating profit (loss) | 9901 | -€146 | €39,915 | +€40,060 | |
| Financial income | 75/76B | €5,830 | €3,056 | -€2,774 | -47.6% |
| Recurring financial income | 75 | €5,830 | €3,056 | -€2,774 | -47.6% |
| Financial charges | 65/66B | €4,882 | €6,581 | +€1,699 | +34.8% |
| Recurring financial charges | 65 | €4,882 | €6,581 | +€1,699 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €802 | €36,389 | +€35,587 | +4436.0% |
| Income taxes | 67/77 | €2,042 | €11,974 | +€9,932 | +486.5% |
| Profit (loss) for the period | 9904 | -€1,239 | €24,416 | +€25,655 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,239 | €24,416 | +€25,655 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.