GIMEFA: 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.
GIMEFA
Largest movements
- Receivables within one year -€412,703
down €412,703 (-13.2%), from €3.1m to €2.7m
of which Other amounts receivable: -€424,182
- Receivables after one year -€217,849
down €217,849 (-40.1%), from €542,610 to €324,761
- Cash -€69,494
down €69,494 (-78.1%), from €88,999 to €19,505
mainly Net result for the year (-€650,794) and Tax, wage and social debts (-€72,122)
- Reserves -€650,794
down €650,794 (-16.0%), from €4.1m to €3.4m
of which Distributable reserves: -€650,794
- Tax, wage and social debts -€72,122
down €72,122 (-98.8%), from €73,003 to €880
- Other debts -€44,479
down €44,479 (-45.0%), from €98,838 to €54,359
- Financial charges +€604,313
up €604,313 (+9956.6%), from €6,069 to €610,382
- Taxes -€98,668
down €98,668 (-99.4%), from €99,303 to €635
- Gross operating margin -€70,037
down €70,037 (-60.1%), from €116,589 to €46,552
- Other operating charges +€49,436
up €49,436 (+104.9%), from €47,123 to €96,559
- Depreciation +€21,060
up €21,060 (+182.3%), from €11,550 to €32,610
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 | €4,420,034 | €3,694,985 | -€725,048 | -16.4% |
| Fixed assets | 21/28 | €657,192 | €632,190 | -€25,002 | -3.8% |
| Tangible fixed assets | 22/27 | €419,660 | €394,658 | -€25,002 | -6.0% |
| Land and buildings | 22 | €415,990 | €385,762 | -€30,228 | -7.3% |
| Plant, machinery and equipment | 23 | €3,670 | €8,896 | +€5,227 | +142.4% |
| Financial fixed assets | 28 | €237,532 | €237,532 | = | 0.0% |
| Current assets | 29/58 | €3,762,842 | €3,062,795 | -€700,047 | -18.6% |
| Amounts receivable after more than one year | 29 | €542,610 | €324,761 | -€217,849 | -40.1% |
| Other amounts receivable | 291 | €542,610 | €324,761 | -€217,849 | -40.1% |
| Amounts receivable within one year | 40/41 | €3,126,320 | €2,713,616 | -€412,703 | -13.2% |
| Trade receivables | 40 | €5,258 | €16,736 | +€11,479 | +218.3% |
| Other amounts receivable | 41 | €3,121,062 | €2,696,880 | -€424,182 | -13.6% |
| Current investments | 50/53 | €4,913 | €4,913 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €88,999 | €19,505 | -€69,494 | -78.1% |
| Total equity and liabilities | 10/49 | €4,420,034 | €3,694,985 | -€725,048 | -16.4% |
| Equity | 10/15 | €4,204,655 | €3,553,861 | -€650,794 | -15.5% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €4,055,918 | €3,405,125 | -€650,794 | -16.0% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €57,383 | €57,383 | = | 0.0% |
| Distributable reserves | 133 | €3,983,662 | €3,332,868 | -€650,794 | -16.3% |
| Amounts payable | 17/49 | €215,379 | €141,125 | -€74,255 | -34.5% |
| Amounts payable within one year | 42/48 | €215,379 | €141,125 | -€74,255 | -34.5% |
| Trade debts | 44 | €43,538 | €85,885 | +€42,347 | +97.3% |
| Suppliers | 440/4 | €43,538 | €85,885 | +€42,347 | +97.3% |
| Taxes, remuneration and social security | 45 | €73,003 | €880 | -€72,122 | -98.8% |
| Taxes | 450/3 | €73,003 | €880 | -€72,122 | -98.8% |
| Other amounts payable | 47/48 | €98,838 | €54,359 | -€44,479 | -45.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,550 | €32,610 | +€21,060 | +182.3% |
| Other operating charges | 640/8 | €47,123 | €96,559 | +€49,436 | +104.9% |
| Gross operating margin | 9900 | €116,589 | €46,552 | -€70,037 | -60.1% |
| Operating profit (loss) | 9901 | €57,917 | -€82,616 | -€140,533 | |
| Financial income | 75/76B | €41,777 | €42,839 | +€1,063 | +2.5% |
| Recurring financial income | 75 | €41,777 | €42,839 | +€1,063 | +2.5% |
| Financial charges | 65/66B | €6,069 | €610,382 | +€604,313 | +9956.6% |
| Recurring financial charges | 65 | €6,069 | €610,382 | +€604,313 | +9956.6% |
| Profit (loss) for the period before taxes | 9903 | €93,624 | -€650,159 | -€743,783 | |
| Income taxes | 67/77 | €99,303 | €635 | -€98,668 | -99.4% |
| Profit (loss) for the period | 9904 | -€5,679 | -€650,794 | -€645,115 | -11360.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,679 | -€650,794 | -€645,115 | -11360.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.