GIMAT: 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.
GIMAT
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+991%), from €113,178 to €1.2m
of which Trade receivables: +€1.1m
- Stocks and contracts +€692,609
up €692,609 (+380%), from €182,221 to €874,830
- Cash -€273,144
down €273,144 (-91.1%), from €299,872 to €26,728
mainly Receivables within one year (-€1.1m) and Stocks and contracts (-€692,609)
- Advances received +€920,000
new in 2024: €920,000
- Trade debts +€385,855
up €385,855 (+148%), from €261,248 to €647,103
- Tax, wage and social debts +€179,462
up €179,462 (+668%), from €26,863 to €206,325
of which Taxes: +€173,497
- Short-term financial debts +€50,000
up €50,000, from €0 to €50,000
- Staff costs +€57,034
up €57,034 (+198%), from €28,851 to €85,885
- Gross operating margin +€41,131
up €41,131 (+44.3%), from €92,854 to €133,985
- Financial charges +€6,701
up €6,701 (+31.1%), from €21,570 to €28,271
- Depreciation +€6,147
up €6,147 (+61.5%), from €10,000 to €16,147
- Taxes -€4,303
down €4,303 (-61.3%), from €7,025 to €2,721
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €645,362 | €2,170,175 | +€1.5m | +236% |
| Fixed assets | 21/28 | €49,589 | €33,442 | -€16,147 | -32.6% |
| Intangible fixed assets | 21 | €1,644 | - | -€1,644 | |
| Tangible fixed assets | 22/27 | €47,945 | €33,442 | -€14,503 | -30.2% |
| Furniture and vehicles | 24 | €47,945 | €33,442 | -€14,503 | -30.2% |
| Current assets | 29/58 | €595,773 | €2,136,733 | +€1.5m | +259% |
| Stocks and contracts in progress | 3 | €182,221 | €874,830 | +€692,609 | +380% |
| Contracts in progress | 37 | €182,221 | €874,830 | +€692,609 | +380% |
| Amounts receivable within one year | 40/41 | €113,178 | €1,234,895 | +€1.1m | +991% |
| Trade receivables | 40 | €101,810 | €1,232,051 | +€1.1m | +1,110% |
| Other amounts receivable | 41 | €11,368 | €2,844 | -€8,524 | -75.0% |
| Cash at bank and in hand | 54/58 | €299,872 | €26,728 | -€273,144 | -91.1% |
| Deferred charges and accrued income | 490/1 | €502 | €280 | -€222 | -44.2% |
| Total equity and liabilities | 10/49 | €645,362 | €2,170,175 | +€1.5m | +236% |
| Equity | 10/15 | €313,810 | €314,653 | +€843 | +0.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €283,810 | €284,653 | +€843 | +0.3% |
| Distributable reserves | 133 | €283,810 | €284,653 | +€843 | +0.3% |
| Amounts payable | 17/49 | €331,552 | €1,855,522 | +€1.5m | +460% |
| Amounts payable after more than one year | 17 | €32,094 | €20,160 | -€11,934 | -37.2% |
| Financial debts | 170/4 | €32,094 | €20,160 | -€11,934 | -37.2% |
| Amounts payable within one year | 42/48 | €299,458 | €1,835,362 | +€1.5m | +513% |
| Current portion of amounts payable after more than one year | 42 | €11,347 | €11,934 | +€588 | +5.2% |
| Financial debts | 43 | €0 | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | €0 | €50,000 | +€50,000 | |
| Trade debts | 44 | €261,248 | €647,103 | +€385,855 | +148% |
| Suppliers | 440/4 | €261,248 | €647,103 | +€385,855 | +148% |
| Advances received on contracts in progress | 46 | - | €920,000 | +€920,000 | |
| Taxes, remuneration and social security | 45 | €26,863 | €206,325 | +€179,462 | +668% |
| Taxes | 450/3 | €23,741 | €197,238 | +€173,497 | +731% |
| Remuneration and social security | 454/9 | €3,122 | €9,087 | +€5,965 | +191% |
| Remuneration, social security and pensions | 62 | €28,851 | €85,885 | +€57,034 | +198% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,000 | €16,147 | +€6,147 | +61.5% |
| Other operating charges | 640/8 | €1,204 | €1,294 | +€89 | +7.4% |
| Gross operating margin | 9900 | €92,854 | €133,985 | +€41,131 | +44.3% |
| Operating profit (loss) | 9901 | €52,798 | €30,659 | -€22,139 | -41.9% |
| Financial income | 75/76B | €0 | €1,176 | +€1,176 | |
| Recurring financial income | 75 | €0 | €1,176 | +€1,176 | |
| Financial charges | 65/66B | €21,570 | €28,271 | +€6,701 | +31.1% |
| Recurring financial charges | 65 | €21,570 | €28,271 | +€6,701 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €31,228 | €3,564 | -€27,663 | -88.6% |
| Income taxes | 67/77 | €7,025 | €2,721 | -€4,303 | -61.3% |
| Profit (loss) for the period | 9904 | €24,203 | €843 | -€23,360 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,203 | €843 | -€23,360 | -96.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.