GIPEMINVEST: 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.
GIPEMINVEST
Largest movements
- Current investments +€20,132
up €20,132 (+50.3%), from €40,000 to €60,132
- Receivables within one year +€12,599
up €12,599 (+281%), from €4,488 to €17,087
of which Other amounts receivable: +€14,776
- Receivables after one year -€9,363
down €9,363 (-35.3%), from €26,541 to €17,178
- Deferred charges and accrued income -€8,137
down €8,137 (-18.9%), from €42,981 to €34,844
- Tangible fixed assets -€7,946
down €7,946 (-3.5%), from €227,021 to €219,075
of which Land and buildings: -€10,648
- Other debts +€26,843
up €26,843 (+108%), from €24,881 to €51,724
- Reserves -€12,266
down €12,266 (-5.6%), from €218,742 to €206,476
- Current portion of long-term debt -€6,897
down €6,897 (-100%), from €6,897 to €0
- Gross operating margin -€32,633
down €32,633 (-17.8%), from €183,610 to €150,977
- Taxes -€8,255
down €8,255 (-35.1%), from €23,492 to €15,237
- Other operating charges -€4,211
down €4,211 (-38.8%), from €10,844 to €6,633
- Staff costs +€2,742
up €2,742 (+3.8%), from €71,978 to €74,720
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,983 | €396,154 | +€4,171 | +1.1% |
| Fixed assets | 21/28 | €271,118 | €263,172 | -€7,946 | -2.9% |
| Tangible fixed assets | 22/27 | €227,021 | €219,075 | -€7,946 | -3.5% |
| Land and buildings | 22 | €222,667 | €212,019 | -€10,648 | -4.8% |
| Furniture and vehicles | 24 | €4,354 | €7,055 | +€2,702 | +62.1% |
| Financial fixed assets | 28 | €44,098 | €44,098 | = | 0.0% |
| Current assets | 29/58 | €120,865 | €132,982 | +€12,117 | +10.0% |
| Amounts receivable after more than one year | 29 | €26,541 | €17,178 | -€9,363 | -35.3% |
| Trade receivables | 290 | €26,541 | €17,178 | -€9,363 | -35.3% |
| Amounts receivable within one year | 40/41 | €4,488 | €17,087 | +€12,599 | +281% |
| Trade receivables | 40 | €2,250 | €73 | -€2,177 | -96.8% |
| Other amounts receivable | 41 | €2,239 | €17,014 | +€14,776 | +660% |
| Current investments | 50/53 | €40,000 | €60,132 | +€20,132 | +50.3% |
| Cash at bank and in hand | 54/58 | €6,854 | €3,741 | -€3,113 | -45.4% |
| Deferred charges and accrued income | 490/1 | €42,981 | €34,844 | -€8,137 | -18.9% |
| Total equity and liabilities | 10/49 | €391,983 | €396,154 | +€4,171 | +1.1% |
| Equity | 10/15 | €338,375 | €324,443 | -€13,932 | -4.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €218,742 | €206,476 | -€12,266 | -5.6% |
| Distributable reserves | 133 | €218,742 | €206,476 | -€12,266 | -5.6% |
| Profit (loss) carried forward | 14 | €99,633 | €97,967 | -€1,666 | -1.7% |
| Amounts payable | 17/49 | €53,608 | €71,711 | +€18,103 | +33.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €53,608 | €71,711 | +€18,103 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €6,897 | €0 | -€6,897 | -100% |
| Trade debts | 44 | €7,301 | €4,015 | -€3,286 | -45.0% |
| Suppliers | 440/4 | €7,301 | €4,015 | -€3,286 | -45.0% |
| Taxes, remuneration and social security | 45 | €14,528 | €15,972 | +€1,443 | +9.9% |
| Taxes | 450/3 | €6,400 | €7,552 | +€1,152 | +18.0% |
| Remuneration and social security | 454/9 | €8,129 | €8,420 | +€291 | +3.6% |
| Other amounts payable | 47/48 | €24,881 | €51,724 | +€26,843 | +108% |
| Remuneration, social security and pensions | 62 | €71,978 | €74,720 | +€2,742 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,228 | €14,531 | +€303 | +2.1% |
| Other operating charges | 640/8 | €10,844 | €6,633 | -€4,211 | -38.8% |
| Gross operating margin | 9900 | €183,610 | €150,977 | -€32,633 | -17.8% |
| Operating profit (loss) | 9901 | €86,561 | €55,093 | -€31,467 | -36.4% |
| Financial income | 75/76B | €1,335 | €1,953 | +€618 | +46.3% |
| Recurring financial income | 75 | €1,335 | €1,953 | +€618 | +46.3% |
| Financial charges | 65/66B | €4,323 | €4,017 | -€306 | -7.1% |
| Recurring financial charges | 65 | €4,323 | €4,017 | -€306 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €83,573 | €53,029 | -€30,544 | -36.5% |
| Income taxes | 67/77 | €23,492 | €15,237 | -€8,255 | -35.1% |
| Profit (loss) for the period | 9904 | €60,081 | €37,792 | -€22,289 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,081 | €37,792 | -€22,289 | -37.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.