GUNIMO: 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
GUNIMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€460,879
2024 · -€23,693+€484,571
Equity
€973,340
2024 · €521,188+€452,151
Cash
€25,163
2024 · €19,047+€6,116
Balance sheet total
€4.2m
2024 · €2.8m+€1.4m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+47.8%), from €2.6m to €3.9m
- Receivables within one year +€143,346
up €143,346 (+73.9%), from €194,080 to €337,427
of which Trade receivables: +€121,530
Equity and liabilities
- Debts after one year +€852,861
up €852,861 (+53.6%), from €1.6m to €2.4m
- Reserves +€452,151
up €452,151 (+122%), from €370,816 to €822,967
of which Tax-exempt reserves: +€259,287
- Short-term financial debts -€350,000
no longer reported in 2025 (was €350,000)
- Other debts +€212,549
up €212,549 (+129%), from €164,195 to €376,744
- Current portion of long-term debt +€112,609
up €112,609 (+81.1%), from €138,867 to €251,476
Income statement
- Gross operating margin +€772,624
up €772,624 (+409%), from €188,757 to €961,381
- Depreciation +€96,441
up €96,441 (+81.9%), from €117,730 to €214,171
- Taxes +€62,286
new in 2025: €62,286
- Financial charges +€39,598
up €39,598 (+55.4%), from €71,494 to €111,093
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
-€23,693
Gross operating margin
+€772,624
Depreciation
-€96,441
Other operating charges
-€7,280
Financial income
-€447
Financial charges
-€39,598
Taxes
-€62,286
Deferred taxes and other
-€81,999
Result 2025
€460,879
raises the resultlowers the resultnot broken down further in the accounts
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
+€867,716
Investment
-€1.5m
Financing
+€606,743
Cash 2024
€19,047
From operations (derived)
+€867,716
Net result for the year
+€460,879
Depreciation
+€214,171
Receivables within one year
-€143,346
Deferred charges and accrued income
-€5,886
Provisions
+€86,429
Trade debts
+€52,344
Tax, wage and social debts
-€2,922
Advances received
-€6,500
Other debts
+€212,549
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.5m
Financing
+€606,743
Debts after one year
+€852,861
Current portion of long-term debt
+€112,609
Short-term financial debts
-€350,000
Contributions, distributions and other
-€8,727
Cash 2025
€25,163
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,836,682 | €4,246,202 | +€1.4m | +49.7% |
| Fixed assets | 21/28 | €2,623,554 | €3,877,726 | +€1.3m | +47.8% |
| Tangible fixed assets | 22/27 | €2,623,554 | €3,877,726 | +€1.3m | +47.8% |
| Land and buildings | 22 | €2,623,554 | €3,877,726 | +€1.3m | +47.8% |
| Current assets | 29/58 | €213,128 | €368,476 | +€155,349 | +72.9% |
| Amounts receivable within one year | 40/41 | €194,080 | €337,427 | +€143,346 | +73.9% |
| Trade receivables | 40 | €132,825 | €254,356 | +€121,530 | +91.5% |
| Other amounts receivable | 41 | €61,255 | €83,071 | +€21,816 | +35.6% |
| Cash at bank and in hand | 54/58 | €19,047 | €25,163 | +€6,116 | +32.1% |
| Deferred charges and accrued income | 490/1 | - | €5,886 | +€5,886 | |
| Total equity and liabilities | 10/49 | €2,836,682 | €4,246,202 | +€1.4m | +49.7% |
| Equity | 10/15 | €521,188 | €973,340 | +€452,151 | +86.8% |
| Contributions | 10/11 | €150,372 | €150,372 | = | 0.0% |
| Capital | 10 | €150,372 | €150,372 | = | 0.0% |
| Issued capital | 100 | €150,372 | €150,372 | = | 0.0% |
| Reserves | 13 | €370,816 | €822,967 | +€452,151 | +122% |
| Non-distributable reserves | 130/1 | €13,343 | €15,037 | +€1,695 | +12.7% |
| Legal reserve | 130 | €13,343 | €15,037 | +€1,695 | +12.7% |
| Tax-exempt reserves | 132 | €130,602 | €389,888 | +€259,287 | +199% |
| Distributable reserves | 133 | €226,871 | €418,042 | +€191,170 | +84.3% |
| Provisions and deferred taxes | 16 | €43,534 | €129,963 | +€86,429 | +199% |
| Deferred taxes | 168 | €43,534 | €129,963 | +€86,429 | +199% |
| Amounts payable | 17/49 | €2,271,959 | €3,142,900 | +€870,941 | +38.3% |
| Amounts payable after more than one year | 17 | €1,591,704 | €2,444,565 | +€852,861 | +53.6% |
| Financial debts | 170/4 | €1,591,704 | €2,444,565 | +€852,861 | +53.6% |
| Amounts payable within one year | 42/48 | €680,256 | €698,335 | +€18,079 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €138,867 | €251,476 | +€112,609 | +81.1% |
| Financial debts | 43 | €350,000 | - | -€350,000 | |
| Credit institutions | 430/8 | €350,000 | - | -€350,000 | |
| Trade debts | 44 | €17,772 | €70,115 | +€52,344 | +295% |
| Suppliers | 440/4 | €17,772 | €70,115 | +€52,344 | +295% |
| Advances received on contracts in progress | 46 | €6,500 | - | -€6,500 | |
| Taxes, remuneration and social security | 45 | €2,922 | - | -€2,922 | |
| Taxes | 450/3 | €2,922 | - | -€2,922 | |
| Other amounts payable | 47/48 | €164,195 | €376,744 | +€212,549 | +129% |
| Non-recurring operating income | 76A | - | €380,362 | +€380,362 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,730 | €214,171 | +€96,441 | +81.9% |
| Other operating charges | 640/8 | €27,970 | €35,250 | +€7,280 | +26.0% |
| Gross operating margin | 9900 | €188,757 | €961,381 | +€772,624 | +409% |
| Operating profit (loss) | 9901 | €43,057 | €711,959 | +€668,902 | +1,554% |
| Financial income | 75/76B | €447 | - | -€447 | |
| Recurring financial income | 75 | €447 | - | -€447 | |
| Financial charges | 65/66B | €71,494 | €111,093 | +€39,598 | +55.4% |
| Recurring financial charges | 65 | €71,494 | €111,093 | +€39,598 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,991 | €600,866 | +€628,857 | |
| Transfer from deferred taxes | 780 | €4,298 | €17,389 | +€13,091 | +305% |
| Transfer to deferred taxes | 680 | - | €95,090 | +€95,090 | |
| Income taxes | 67/77 | - | €62,286 | +€62,286 | |
| Profit (loss) for the period | 9904 | -€23,693 | €460,879 | +€484,571 | |
| Transfer from tax-exempt reserves | 789 | €12,894 | €17,257 | +€4,364 | +33.8% |
| Transfer to tax-exempt reserves | 689 | - | €285,271 | +€285,271 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,799 | €192,865 | +€203,664 |
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 14 October 2026 via checked.be.