GiMiL Equestrian: 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.
GiMiL Equestrian
Largest movements
- Tangible fixed assets -€65,709
down €65,709 (-7.6%), from €868,183 to €802,474
- Other debts +€140,874
up €140,874 (+36.8%), from €382,689 to €523,563
- Profit (loss) carried forward -€116,012
down €116,012 (-14.3%), from -€812,853 to -€928,865
- Debts after one year -€84,076
down €84,076 (-36.3%), from €231,665 to €147,589
- Gross operating margin +€26,802
up €26,802 (+43.7%), from -€61,366 to -€34,564
- Depreciation -€6,463
down €6,463 (-9.0%), from €72,173 to €65,709
- Financial charges -€2,180
down €2,180 (-15.5%), from €14,096 to €11,916
- Taxes -€1,411
no longer reported in 2026 (was €1,411)
- Other operating charges -€1,242
down €1,242 (-24.4%), from €5,095 to €3,853
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €895,056 | €825,249 | -€69,807 | -7.8% |
| Fixed assets | 21/28 | €868,183 | €802,474 | -€65,709 | -7.6% |
| Tangible fixed assets | 22/27 | €868,183 | €802,474 | -€65,709 | -7.6% |
| Land and buildings | 22 | €627,598 | €616,327 | -€11,271 | -1.8% |
| Plant, machinery and equipment | 23 | €9,575 | €4,575 | -€5,000 | -52.2% |
| Furniture and vehicles | 24 | €2,074 | €1,097 | -€977 | -47.1% |
| Leasing and similar rights | 25 | €129,606 | €96,936 | -€32,670 | -25.2% |
| Other tangible fixed assets | 26 | €99,330 | €83,538 | -€15,792 | -15.9% |
| Current assets | 29/58 | €26,873 | €22,776 | -€4,098 | -15.2% |
| Stocks and contracts in progress | 3 | €21,030 | €14,397 | -€6,633 | -31.5% |
| Stocks | 30/36 | €21,030 | €14,397 | -€6,633 | -31.5% |
| Amounts receivable within one year | 40/41 | €945 | €4,219 | +€3,274 | +346% |
| Trade receivables | 40 | - | €30 | +€30 | |
| Other amounts receivable | 41 | €945 | €4,189 | +€3,244 | +343% |
| Cash at bank and in hand | 54/58 | €2,203 | €4,160 | +€1,957 | +88.8% |
| Deferred charges and accrued income | 490/1 | €2,696 | - | -€2,696 | |
| Total equity and liabilities | 10/49 | €895,056 | €825,249 | -€69,807 | -7.8% |
| Equity | 10/15 | €187,820 | €71,807 | -€116,012 | -61.8% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €673 | €673 | = | 0.0% |
| Distributable reserves | 133 | €673 | €673 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€812,853 | -€928,865 | -€116,012 | -14.3% |
| Amounts payable | 17/49 | €707,237 | €753,442 | +€46,205 | +6.5% |
| Amounts payable after more than one year | 17 | €231,665 | €147,589 | -€84,076 | -36.3% |
| Financial debts | 170/4 | €231,665 | €147,589 | -€84,076 | -36.3% |
| Amounts payable within one year | 42/48 | €475,571 | €605,853 | +€130,282 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €87,311 | €81,380 | -€5,931 | -6.8% |
| Trade debts | 44 | €4,160 | €910 | -€3,250 | -78.1% |
| Suppliers | 440/4 | €4,160 | €910 | -€3,250 | -78.1% |
| Taxes, remuneration and social security | 45 | €1,411 | - | -€1,411 | |
| Taxes | 450/3 | €1,411 | - | -€1,411 | |
| Other amounts payable | 47/48 | €382,689 | €523,563 | +€140,874 | +36.8% |
| Non-recurring operating income | 76A | - | €4,147 | +€4,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,173 | €65,709 | -€6,463 | -9.0% |
| Other operating charges | 640/8 | €5,095 | €3,853 | -€1,242 | -24.4% |
| Gross operating margin | 9900 | -€61,366 | -€34,564 | +€26,802 | +43.7% |
| Operating profit (loss) | 9901 | -€138,633 | -€104,126 | +€34,507 | +24.9% |
| Financial income | 75/76B | €296 | €30 | -€266 | -89.9% |
| Recurring financial income | 75 | €296 | €30 | -€266 | -89.9% |
| Non-recurring financial income | 76B | €296 | €30 | -€266 | -89.9% |
| Financial charges | 65/66B | €14,096 | €11,916 | -€2,180 | -15.5% |
| Recurring financial charges | 65 | €14,096 | €11,916 | -€2,180 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | -€152,434 | -€116,012 | +€36,421 | +23.9% |
| Income taxes | 67/77 | €1,411 | - | -€1,411 | |
| Profit (loss) for the period | 9904 | -€153,845 | -€116,012 | +€37,833 | +24.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€153,845 | -€116,012 | +€37,833 | +24.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.