GIMF: 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.
What changed
GIMF
NACE 46.110, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€50,231
2024 · €35,821+€14,410
Equity
€1.6m
2024 · €1.5m+€48,631
Cash
€18,135
2024 · €13,421+€4,714
Balance sheet total
€2.9m
2024 · €2.9m+€8,587
Largest movements
Assets
- Stocks and contracts +€37,369
up €37,369 (+2.6%), from €1.5m to €1.5m
Equity and liabilities
- Debts after one year -€60,835
down €60,835 (-5.2%), from €1.2m to €1.1m
- Reserves +€45,000
up €45,000 (+38.1%), from €118,000 to €163,000
Income statement
- Taxes -€14,178
down €14,178 (-64.3%), from €22,052 to €7,874
- Financial charges -€6,905
down €6,905 (-10.7%), from €64,729 to €57,824
- Gross operating margin -€6,644
down €6,644 (-4.8%), from €139,822 to €133,178
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.
Result 2024
€35,821
Gross operating margin
-€6,644
Depreciation
-€1
Other operating charges
-€28
Financial charges
+€6,905
Taxes
+€14,178
Result 2025
€50,231
raises the resultlowers the result
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.
From operations
+€67,003
Investment
€0
Financing
-€62,289
Cash 2024
€13,421
From operations (derived)
+€67,003
Net result for the year
+€50,231
Depreciation
+€15,690
Stocks and contracts
-€37,369
Receivables within one year
+€17,806
Trade debts
+€20,636
Tax, wage and social debts
+€1,500
Other debts
-€1,491
Financing
-€62,289
Debts after one year
-€60,835
Current portion of long-term debt
+€146
Contributions, distributions and other
-€1,600
Cash 2025
€18,135
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,856,434 | €2,865,021 | +€8,587 | +0.3% |
| Fixed assets | 21/28 | €1,363,899 | €1,348,209 | -€15,690 | -1.2% |
| Tangible fixed assets | 22/27 | €44,619 | €28,929 | -€15,690 | -35.2% |
| Plant, machinery and equipment | 23 | €1,282 | €887 | -€395 | -30.8% |
| Furniture and vehicles | 24 | €43,337 | €28,042 | -€15,295 | -35.3% |
| Financial fixed assets | 28 | €1,319,280 | €1,319,280 | = | 0.0% |
| Current assets | 29/58 | €1,492,535 | €1,516,812 | +€24,277 | +1.6% |
| Stocks and contracts in progress | 3 | €1,455,043 | €1,492,412 | +€37,369 | +2.6% |
| Stocks | 30/36 | €1,455,043 | €1,492,412 | +€37,369 | +2.6% |
| Amounts receivable within one year | 40/41 | €24,071 | €6,265 | -€17,806 | -74.0% |
| Trade receivables | 40 | €23,398 | €1,987 | -€21,411 | -91.5% |
| Other amounts receivable | 41 | €673 | €4,278 | +€3,605 | +536% |
| Cash at bank and in hand | 54/58 | €13,421 | €18,135 | +€4,714 | +35.1% |
| Total equity and liabilities | 10/49 | €2,856,434 | €2,865,021 | +€8,587 | +0.3% |
| Equity | 10/15 | €1,549,164 | €1,597,795 | +€48,631 | +3.1% |
| Contributions | 10/11 | €1,429,480 | €1,429,480 | = | 0.0% |
| Reserves | 13 | €118,000 | €163,000 | +€45,000 | +38.1% |
| Distributable reserves | 133 | €118,000 | €163,000 | +€45,000 | +38.1% |
| Profit (loss) carried forward | 14 | €1,684 | €5,315 | +€3,631 | +216% |
| Amounts payable | 17/49 | €1,307,270 | €1,267,226 | -€40,044 | -3.1% |
| Amounts payable after more than one year | 17 | €1,170,544 | €1,109,709 | -€60,835 | -5.2% |
| Financial debts | 170/4 | €1,170,544 | €1,109,709 | -€60,835 | -5.2% |
| Amounts payable within one year | 42/48 | €136,726 | €157,517 | +€20,791 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €60,689 | €60,835 | +€146 | +0.2% |
| Trade debts | 44 | €70,587 | €91,223 | +€20,636 | +29.2% |
| Suppliers | 440/4 | €70,587 | €91,223 | +€20,636 | +29.2% |
| Taxes, remuneration and social security | 45 | - | €1,500 | +€1,500 | |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €5,450 | €3,959 | -€1,491 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,689 | €15,690 | +€1 | 0.0% |
| Other operating charges | 640/8 | €1,531 | €1,559 | +€28 | +1.8% |
| Gross operating margin | 9900 | €139,822 | €133,178 | -€6,644 | -4.8% |
| Operating profit (loss) | 9901 | €122,602 | €115,929 | -€6,673 | -5.4% |
| Financial charges | 65/66B | €64,729 | €57,824 | -€6,905 | -10.7% |
| Recurring financial charges | 65 | €64,729 | €57,824 | -€6,905 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €57,873 | €58,105 | +€232 | +0.4% |
| Income taxes | 67/77 | €22,052 | €7,874 | -€14,178 | -64.3% |
| Profit (loss) for the period | 9904 | €35,821 | €50,231 | +€14,410 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,821 | €50,231 | +€14,410 | +40.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.