par Gimv (EBR:GIMB)
Solid growth performance in the first half of FY 2025
Solid growth performance in the first half of FY 2025
n The sustained performance of our companies leads to a HY portfolio return of 9.5% (non-annualized).
n H1 net profit of 126.9 mio EUR (EUR 3.4 per share) increases equity value per share with 6.3% to EUR 53.9. n Accelerated growth strategy at work with total portfolio value reaching an all-time high of 2 billion EUR
CEO Koen Dejonckheere:
“Over the first 6 months of the current fiscal year, we successfully kicked off our accelerated growth strategy. More than 300 mio EUR was invested in the expansion of our portfolio resulting in an all-time high portfolio value of 2 billion EUR. In volatile and challenging economic headwinds, characterized by sluggish consumer spending and an industrial slowdown in Europe, our companies showed resilience and continued to deliver a solid performance, outpacing once again the overall economic growth. This resulted in a solid portfolio return of 9.5% (non-annualized), in line with our increased portfolio return target.
In the first half of the financial year 2025, Gimv generated a net profit of 126.9 mio EUR, or EUR 3.4 per share, leading to a 6.3% growth in our Net Asset Value to EUR 53.9 per share.
Our solid investment capacity puts us in a strong position to support our companies in their growth ambitions and to seize new investment opportunities.”
Interim consolidated key figures (first six months of Financial Year 2025)
Results H1 2025 H1 2024-25
Portfolio result (mio EUR) 154.0 186.8
Portfolio return % 9.5% 12.0%
Net result (mio EUR) 126,9 144.9
Net return on equity % 6,7% 9.7%
Net result/share 3.4 5.1
Balance sheet H1 2025 FY 2024-25
Investments (mio EUR) 317.0 336.1
Exit proceeds (mio EUR) 149.7 560.0
Portfolio (mio EUR) 1,942.4 1.623.3
NAV (mio EUR) 1.984.2 1.906.8
NAV/share 53.9 53.3*
Liquidity (mio EUR) 439.2 668.8
* Excluding dividend, the NAV/share as at end FY 2024-25 amounted to EUR 50.7
The first half of financial year 2025 relates to the consolidated figures for the period from 1 April 2025 to 30 September 2025. The full financial year 2025 will be a short year, covering the 9 months between 1 April and 31 December 2025
Note: all financial data in this press release are based on the Investment basis (see explanatory note on page 2)
Explanatory note
Gimv makes investments in portfolio companies directly, held by Gimv NV or its consolidated subsidiaries, and, as of this current fiscal year, indirectly, held through intermediate holding companies (“Investment entity subsidiaries”). The application of IFRS 10 requires us to fair value the intermediate holding companies instead of consolidating them line-byline. This fair value approach, applied at the intermediate holding company level, obscures the performance of our portfolio companies, since the financial effect of the underlying portfolio companies is aggregated into a single (fair) value of the investment entity subsidiary as included in our total investment portfolio (under IFRS 10). Other (income and cost) items associated with the investment entity subsidiaries (which would be eliminated in a consolidation) are now included separately.
To maintain transparency and help the understanding of the performance of our portfolio, we introduced a separate non-GAAP “Investment basis” (in line with our previous financial reporting). This press release is prepared using the Investment basis as we believe it provides a more understandable view of our performance. The net profit and the Net Asset Value are equal under the Investment basis and IFRS. The Investment basis is simply a “look through” of IFRS 10 to present the underlying performance and safeguards the consistency of our financial reporting with previous periods.
A detailed reconciliation from the Investment basis to IFRS basis of the Consolidated Statements can be found at the end of this press release and in our Half-Year report, which will be available no later than December 1, 2025.
This new approach will be the subject of further technical analysis, the outcome of which will be presented in our full year report.
Notes to consolidated figures
Gimv companies continue to realise an above average growth
n 6.8% total sales growth in our portfolio (H1 2025 vs. H1 2024), combined with an equally rising operating profitability (6.3% EBITDA increase)
n Portfolio result of 154.0 mio EUR
(9.5% return – non-annualized) n Net profit of 126.9 mio EUR or EUR 3.4 per share
Our companies continued their above average growth performance in the first half of the current financial year 2025, proving the resilience of our portfolio in volatile and challenging market circumstances. Overall, they have been able to increase their sales with 6.8%, while the operating profitability grew equally with 6.3%. More than half of the growth in profitability originates from organic expansion. Over the first half of 2025, we have seen a continued double digit EBITDA growth in our Healthcare and Sustainable Cities platforms. The growth in the Consumer platform was impacted by sluggish consumer spending, while the Smart Industries platform was confronted with the industrial slowdown in Europe in the first half of this year.
The sustained performance of our companies in the first half of FY 2025 has led to a total portfolio result of 154.0 mio EUR, or a non-annualized portfolio return of 9.5% (on an annualized basis, this represents a portfolio return above our increased target of at least 17.5%).
The average EBITDA multiple used to measure the fair value of our companies under the IFRS increased slightly from 9.2x at the end of March 2025 to 9.7x at the end of September 2025 (mainly triggered by a shift in composition of our portfolio). The positive valuation result was mainly determined by the strong operational results of our companies, with growth in EBITDA being the main contributor to our unrealized result.
Our companies’ EBITDA growth, largely above the average European economic growth, underscores their strategic and financial strength, their operational discipline and entrepreneurial spirit. Their continued focus on innovation and sustainable growth gives us confidence about their ongoing outperformance and provides a solid foundation for future expansion and sustained value creation.
Thanks to the strong portfolio result, Gimv’s net profit for the first half of the financial year 2025 amounts to 126.9 mio EUR or EUR 3.4 per share. This translates into a net return on equity of 6.7%.
Growth acceleration of the portfolio, expanding to an all-time high of EUR 2 billion
n More than 300 mio EUR invested in both new and existing portfolio companies, matching the investment level of the past full financial year in a period of 6 months
In the first six months of the current fiscal year, Gimv invested in Ambulantis (Healthcare, DE), Alpine (Consumer, NL), Hemink (Sustainable Cities, NL) and Novicare (Healthcare, NL). The successful exit of Joolz after an impressive growth trajectory was combined with a new investment in the even stronger Bugaboo/Joolz combination. End September 2025, Gimv announced an additional investment in Spineart, one of its largest portfolio companies, to fuel its next phase of profitable growth, to advance its innovation pipeline and to strengthen its global footprint in delivering better outcomes for spine surgery patients. Additional capital (for a total amount of 64 mio EUR) was invested to finance strategic bolt-on acquisitions at existing portfolio companies like Fronnt, Picot, and EGruppe and to support the further expansion of TINC at the occasion of its successful capital increase.
These transactions add up to a combined investment level of 317 mio EUR over a period of 6 months, in a period where mid-market private equity activity in Europe was rather soft. As such, the new capital raised (250 mio EUR) has been fully invested, underscoring Gimv’s growth ambitions.
Next to the exit of Joolz (combined with the re-investment in Bugaboo), Gimv turned the long growth trajectory of Itineris towards a leading international technology company into realized capital gains with a successful exit to Cobepa. Total proceeds from the sale of portfolio companies in the first half of the financial year 2025 amounted to 149.7 mio EUR. Over the full term, the total proceeds from the sale of Joolz and Itineris amounted to
2.6x the original investment cost.
The combination of a very active investment period and the sustained value creation at our portfolio resulted in a substantial rise in our total portfolio value with 20% over a period of 6 months to a record level of 1.94 billion EUR. As at end September 2025, the investment in Novicare was not yet closed. Including this investment and the recently announced investment in Quality Guard, the Gimv portfolio reaches the 2 billion EUR milestone.
The investment portfolio consists of 64 companies, well distributed across the five platforms and the four countries.
Persistent strong equity growth
n Net equity value per share grows with 6.3% in six months to EUR 53.9
n Available liquidity of more than 600 mio EUR (of which 439 mio EUR available as cash on the balance sheet)
After payment of the dividend (EUR 2.60 per share) for the previous financial year 2024–2025 and including the net profit for the first half of the financial year 2025 (EUR 3.4 per share), the net equity value grew with 6.3% to EUR 53.9 per share at the end of September 2025. Gimv’s total net equity value amounts to 1,984.2 mio EUR.
Taking into account the cash impact of the dividend (57.5
mio EUR), cash investments of 317 mio EUR and exit proceeds of 149.7 mio EUR, Gimv’s liquidity position and robust investment capacity remained intact at a total level of 650mio EUR, of which 439 mio EUR available cash on the balance sheet and 210 mio EUR undrawn bank credit lines. This liquidity is partly financed by bonds (350 mio EUR), resulting in a net cash on the balance sheet of 89 mio EUR.
Gimv aims to continue its current dividend policy.
Sustainability
Gimv reaffirms its commitment to sustainability as a core driver of resilience, competitiveness and long-term value creation across its portfolio. In a rapidly evolving landscape, Gimv continues to take a visible stance on the ESG themes that matter most to our companies and stakeholders.
Our sustainability objectives for 2025 underscore the increasing relevance of competitiveness, productivity, and resilience. We remain firmly committed, guided by robust risk management, recognizing that failure to address climate risks jeopardizes long-term value, and by proactive value creation, as sustainability continues to generate significant business opportunities.
To further embed sustainability, we are streamlining ESG data collection. With about 50% of our portfolio already measuring their greenhouse gas emissions today, it remains our ambition that nearly all portfolio companies will eventually measure GHG emissions annually, embedding this practice in their processes.
Other significant events during the first half of the financial year 2025
In the context of the optional dividend for the financial year 2024-2025, 64.2% of the dividend rights were contributed against the issue of 1,043,633 new ordinary shares, resulting in a capital increase of EUR 41.8 mio. On 25 July 2025, the new shares were issued and admitted to trading on Euronext Brussels.
In June 2025, Gimv, together with WorxInvest and Belfius via Infravest, backed the successful capital increase at TINC, supporting the ambitious growth trajectory of the listed specialized infrastructure investor. This raised Infravest’s stake in TINC above 25%, solidifying its role as a reference shareholder.
Key events after 30/09/2025
• The valuation of our portfolio is based on market multiples as at the end of September 2025. Since then, we have closely followed the evolution of the stock markets. To date, we have not noticed any evolution in market multiples that indicates that our valuation should be adjusted.
• End October 2025, Gimv Life Sciences realized a successful exit with the sale of its stake in Imcheck Therapeutics to Ipsen, marking a significant milestone for both companies. As a result of this transaction, Gimv will receive an upfront cash payment that represents a realized money multiple of 2.6x on the investment and a positive impact of approximately 0.15 euro per share compared to the NAV as at end September 2025. Should all regulatory and salesbased milestones be achieved, this could result in a potential total money multiple of 7.1x, subject to the successful completion of these milestones.
• Early November, Gimv announced its minority investment in Quality Guard (Consumer; BE) to establish a leading software platform for food safety compliance across Europe. With more than 5,000 customers in Belgium, the Netherlands, and France, Quality Guard is a fast-growing Belgian food tech company that is redefining how businesses in foodservice and food retail manage food safety and compliance.
Statement regarding risk
The future performance of our companies and the value development of our portfolio depend on a number of external factors, such as: (i) the impact of the global economic instability on the growth and margins of our companies and how they are able to cope with its impact, (ii) the impact of geopolitical tensions and the potential impact on international trade. (iii) the impact of inflation on the policy of Central Banks and the related consequences for interest rate evolutions, (iv) the extent to which consumer confidence is affected by rising prices, (v) the evolution in the labour market and the availability of sufficiently qualified personnel for our companies, (vi) the liquidity in the banking system to support companies, including in case of possible further financing needs, (vii) the stability of the regulatory and financial environment in the markets in which both Gimv and our companies operate, (viii) the extent to which the market for investments and acquisitions remains active, accompanied by a sufficient level of liquidity and feasible financing conditions, and (ix) the extent to which the financial markets can maintain their stability. It is extremely difficult to estimate the impact of all these factors in the coming period.
Management declaration in accordance with the Royal Decree of 14 November 2007
In accordance with Article 13 §2 3° of the Royal Decree of 14 November 2007, CEO Koen Dejonckheere and CFO Kristof Vande Capelle declare the following in the name of and on behalf of Gimv and to the best of their knowledge:
a) The half-yearly financial statements on 30 September 2025 have been prepared in accordance with the IFRS and IAS 34 “Interim Financial Reporting” as approved by the European Union, and they provide a true and fair view of the assets, financial position and results of Gimv and the companies included in the consolidation.
b) The half-yearly report gives a fair overview of the main events of the first half of the financial year, their impact on the financial statements, the main risk factors and uncertainties for the remaining months of the financial year, as well as the main transactions with related parties and their impact, if any, on the summarised financial statements.
Review of the condensed interim consolidated financial statements
We confirm that the review procedures, which have been performed in relation to the condensed interim consolidated financial statements for the six-month period ended 30 September 2025 in accordance with the International Standards on Review Engagements 2410, are substantially completed and have not revealed any material corrections required to be made to the financial information included in the Company’s press release.
Antwerp, 19 November 2025
BDO Bedrijfsrevisoren BV
Statutory auditor
Represented by Veerle Catry*
*Acting for a company
About Gimv
Gimv is a European investment company listed on Euronext Brussels and a member of the Euronext BEL ESG Index. With over 45 years of private equity experience, Gimv currently manages around EUR 2 billion of assets across a portfolio of some 60 companies, representing combined turnover of EUR 4.5 billion and more than 20,000 employees.
As a recognised market leader in five sector-focused investment platforms (Consumer, Healthcare, Life Sciences, Smart Industries and Sustainable Cities) as well as through Gimv Anchor Investments, Gimv partners with entrepreneurial, innovative businesses with strong growth potential and supports their transformation into market leaders. Each platform operates with an experienced local team across Gimv’s home markets (Benelux, France and DACH), backed by an international network of experts.
For further information please contact:
Kristof Vande Capelle, Chief Financial Officer*
T +32 3 290 22 17 – kristof.vandecapelle@gimv.com
* acting on behalf of a company
Reconciliation of Investment basis and IFRS
Reconciliation of the interim consolidated statement of comprehensive income for the first six months of fiscal year 2025
Investment IFRS Investment IFRS
basis adjustments IFRS Basis basis adjustments IFRS Basis Consolidated statement of comprehensive income (in EUR 1,000) 30/09/2025 30/09/2025 30/09/2025 30/09/2024 30/09/2024 30/09/2024
Realised gains/(losses) on disposal of investments Unrealised gains/(losses) on financial assets at fair value trough P&L Reversal / (additional) impairments on debt investments via amortised cost Fair value movements on investment entity subsidiaries Dividend income Interest income Portfolio result: profit (loss) Income from investment entity subsidiaries Management, director and other fees Other operating income General and administrative expenses Personnel expenses - salaries Personnel expenses - LTIP payments Amortisation and depreciation expenses Other operating expenses Operating result Finance income Finance costs Result before tax: profit (loss) Tax expenses Net profit (loss) of the period Other comprehensive income Re-measurements of defined benefit plans Other comprehensive income for the period Total comprehensive income for the period | 38.032 110.084 -11.032 - 1.080 15.794 153.959 - 7.052 749 -10.178 -12.493 -810 -1.394 -9.959 126.925 6.433 -5.735 127.623 -696 126.927 - - - 126.927 | 0 -45.537 - 39.273 - -56 -6.320 2.361 - - 2.911 - - - 1.056 7 8 -15 - - - - - - | 38.032 64.548 -11.032 39.273 1.080 15.737 147.638 2.361 7.052 749 -7.267 -12.493 -810 -1.394 -8.903 126.933 6.441 -5.750 127.623 -696 126.927 - - - 126.927 | 318 184.838 -17.256 - 2.228 16.639 186.767 - 541 330 -7.298 -12.251 -1.846 -1.185 -20.628 144.430 6.262 -5.636 145.056 -184 144.872 - - - 144.872 | - - - - - - - - - - - - - - - - - - - - - - - | 318 184.838 -17.256 - 2.228 16.639 186.767 - 541 330 -7.298 -12.251 -1.846 -1.185 -20.628 144.430 6.262 -5.636 145.056 -184 144.872 - - - 144.872 |
Reconciliation of the interim consolidated balance sheet per 30/9/2025
Investment IFRS Investment IFRS
basis adjustments IFRS Basis basis adjustments IFRS Basis Consolidated balance sheet (in 1,000 EUR) 30/09/2025 30/09/2025 30/09/2025 31/03/2025 31/03/2025 31/03/2025
Non-current assets Intangible assets Property, plant and equipment Investment portfolio Financial assets: equity investments at fair value through P&L (FVPL) Financial assets: debt investments at fair value through P&L (FVPL) Financial assets: debt investments at amortised cost Investments in investment entity subsidiaries Current assets Trade and other receivables Cash and cash equivalents Marketable securities Other current assets Total assets Equity Issued capital Share premium Reserves Non-current liabilities Financial debts - bonds Financial debts - lease liabilities Provisions Current liabilities Financial debts - bonds Financial debts - lease liabilities Trade and other payables Income tax payables Other liabilities Total equity and liabilities | 1.959.031 367 16.233 1.942.430 1.679.386 87.616 175.429 - 447.535 7.539 236.587 202.628 781 2.406.566 1.984.208 345.460 369.449 1.269.299 333.731 275.000 8.979 49.752 88.627 75.000 1.739 6.710 353 4.825 2.406.566 | -717 - - -717 -773.137 - 0 772.419 1.306 1.511 -205 - - 589 - - 42 - - 42 547 - - 900 - -353 589 | 1.958.314 367 16.233 1.941.713 906.249 87.616 175.429 772.419 448.841 9.050 236.382 202.628 781 2.407.155 1.984.208 345.460 369.449 1.269.299 333.773 275.000 8.979 49.794 89.174 75.000 1.739 7.610 353 4.472 2.407.155 | 1.640.271 155 16.770 1.623.346 1.360.924 85.950 176.472 - 724.771 55.534 538.102 130.722 413 2.365.042 1.906.773 335.554 337.568 1.233.651 409.271 350.000 9.657 49.614 48.998 - 1.733 33.644 1.039 12.582 2.365.042 | - - - - - - - - - - - - - - - - - - - - - - | 1.640.271 155 16.770 1.623.346 1.360.924 85.950 176.472 - 724.771 55.534 538.102 130.722 413 2.365.042 1.906.773 335.554 337.568 1.233.651 409.271 350.000 9.657 49.614 48.998 - 1.733 33.644 1.039 12.582 2.365.042 |
Reconciliation of the interim consolidated cash flow statement for the first six months of fiscal year 2025
Investment basis | IFRS adjustments | IFRS Basis | Investment basis | IFRS adjustments | IFRS Basis | |
Consolidated cash flow statement (in EUR 1,000) | 30/09/2025 | 30/09/2025 | 30/09/2025 | 30/09/2024 | 30/09/2024 | 30/09/2024 |
Cash flow from operating activities Interest received on cash deposits Management fees from managed funds Remuneration and other benefits to employees and directors LTIP remuneration to employees Other operating expenses Paid/recovered CIT and other taxes Cash flows from investing activities Investments in financial assets: equity investments Investments in financial assets: debt investments Proceeds from divested financial assets: equity investments Proceeds from repaid financial assets: debt investments Investments in investment entity subsidiaries Interest received from investment portfolio Dividend received from investment portfolio Earnout payments related to historical co-investment structures Short term bridge financing (repayment) to investment portfolio Other cash flows from investment activities Cash flows from financing activities Paid interest and fees on cash deposits and credit lines Dividends to shareholders Purchase / sale of own Shares Other cash flow from financing activities Change in cash and marketable securities during period Cash and marketable securitiesat beginning of period Acquired not yet received interest on deposits and other investments Cash and marketable securities at end of period | -49.698 5.494 - -16.583 -24.413 -12.175 -2.021 -121.019 -299.900 -17.147 135.520 9.935 - 5.443 762 -7.057 51.337 87 -62.159 -8.581 -57.490 3.227 685 -232.875 668.869 3.221 439.215 | 1.900 - - - - 1.626 275 -2.060 254.008 - - - -256.067 - - - - - - - - - -160 -45 0 -205 | -47.797 5.494 - -16.583 -24.413 -10.549 -1.746 -123.079 -45.892 -17.147 135.520 9.935 -256.067 5.443 762 -7.057 51.337 87 -62.159 -8.581 -57.490 3.227 685 -233.035 668.824 3.221 439.010 | -22.729 6.961 - -15.696 -9.181 -5.320 506 31.750 -63.634 -24.567 92.815 20.559 - 4.453 2.175 - - -52 -44.680 -8.577 -36.853 675 75 -35.660 344.472 1.470 310.283 | - - - - - - - - - - - - - - - - - - - - - - - - - - | -22.729 6.961 - -15.696 -9.181 -5.320 506 31.750 -63.634 -24.567 92.815 20.559 - 4.453 2.175 - - -52 -44.680 -8.577 -36.853 675 75 -35.660 344.472 1.470 310.283 |
Antwerp, November 20th, 2025, 7:00 AM CET, Regulated information Press release
The interim consolidated financial statements as of 30 September 2025 and the comparative figures as of 30 September 2024 have not been audited. The statutory auditor has conducted a review of these interim consolidated statements, a review being less extensive than a full year-end audit. The comparative figures as of 31 March 2025 have been audited.
Gimv Group – Interim Consolidated balance sheet per 30/09/2025
Consolidated balance sheet (in 1,000 EUR) 30/09/2025 31/03/2025
Non-current assets | 1.958.314 | 1.640.271 |
Intangible assets | 367 | 155 |
Property, plant and equipment | 16.233 | 16.770 |
Investment portfolio | 1.941.713 | 1.623.346 |
Financial assets: equity investments at fair value through P&L (FVPL) | 906.249 | 1.360.924 |
Financial assets: debt investments at fair value through P&L (FVPL) | 87.616 | 85.950 |
Financial assets: debt investments at amortised cost | 175.429 | 176.472 |
Investments in investment entity subsidiaries | 772.419 | - |
Current assets | 448.841 | 724.771 |
Trade and other receivables | 9.050 | 55.534 |
Cash and cash equivalents | 236.382 | 538.102 |
Marketable securities | 202.628 | 130.722 |
Other current assets | 781 | 413 |
Total assets | 2.407.155 | 2.365.042 |
Equity | 1.984.208 | 1.906.773 |
Issued capital | 345.460 | 335.554 |
Share premium | 369.449 | 337.568 |
Reserves | 1.269.299 | 1.233.651 |
Non-current liabilities | 333.773 | 409.271 |
Financial debts - bonds | 275.000 | 350.000 |
Financial debts - lease liabilities | 8.979 | 9.657 |
Provisions | 49.794 | 49.614 |
Current liabilities | 89.174 | 48.998 |
Financial debts - bonds | 75.000 | - |
Financial debts - lease liabilities | 1.739 | 1.733 |
Trade and other payables | 7.610 | 33.644 |
Income tax payables | 353 | 1.039 |
Other liabilities | 4.472 | 12.582 |
Total equity and liabilities | 2.407.155 | 2.365.042 |
Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com 11
Antwerp, November 20th, 2025, 7:00 AM CET, Regulated information Press release
Gimv Group – Interim Consolidated income statement for the first six months to 30/09/2025
Consolidated statement of comprehensive income (in EUR 1,000) 30/09/2025 30/09/2024
Realised gains/(losses) on disposal of investments Unrealised gains/(losses) on financial assets at fair value trough P&L | 38.032 64.548 | 318 184.838 |
Reversal / (additional) impairments on debt investments via amortised cost | -11.032 | -17.256 |
Fair value movements on investment entity subsidiaries | 39.273 | - |
Dividend income | 1.080 | 2.228 |
Interest income | 15.737 | 16.639 |
Portfolio result: profit (loss) | 147.638 | 186.767 |
Income from investment entity subsidiaries | 2.361 | - |
Management, director and other fees | 7.052 | 541 |
Other operating income | 749 | 330 |
General and administrative expenses | -7.267 | -7.298 |
Personnel expenses - salaries | -12.493 | -12.251 |
Personnel expenses - LTIP payments | -810 | -1.846 |
Amortisation and depreciation expenses | -1.394 | -1.185 |
Other operating expenses | -8.903 | -20.628 |
Operating result | 126.933 | 144.430 |
Finance income | 6.441 | 6.262 |
Finance costs | -5.750 | -5.636 |
Result before tax: profit (loss) | 127.623 | 145.056 |
Income tax expense | -696 | -184 |
Net profit (loss) of the period | 126.927 | 144.872 |
Other comprehensive income | - | - |
Re-measurements of defined benefit plans | - | - |
Other comprehensive income for the period | - | - |
Total comprehensive income for the period | 126.927 | 144.872 |
Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com 12
Gimv Group – Interim Statement of changes in consolidated equity for the first six months to 30/09/2025
Actuarial gains
Share (losses) DB pension Treasury Equity - Group
Antwerp, November 20th, 2025, 7:00 AM CET, Regulated information | Press release |
30/09/2025 (in 1,000 EUR) | Issued capital | premium | Retained earnings | plans | Shares | share |
01/04/2025 | 335.554 | 337.568 | 1.233.506 | 723 | -578 | 1.906.773 |
Net Result for the period | - | - | 126.927 | - | - | 126.927 |
Other comprehensive income | - | - | - | - | - | - |
Total comprehensive income | - | - | 126.927 | - | - | 126.927 |
Capital increase related to optional dividend | 9.906 | 31.881 | - | - | - | 41.787 |
Dividends to shareholders | - | - | -92.995 | - | - | -92.995 |
Net purchase / sale own shares | - | - | -90 | - | 578 | 489 |
Other changes | - | - | 1.228 | - | - | 1.228 |
30/09/2025 | 345.460 | 369.449 | 1.268.576 | 723 | - | 1.984.208 |
30/09/2024 (in 1,000 EUR) | Issued capital | Share premium | Actuarial gains (losses) DB pension Retained earnings plans | Treasury Shares | Equity - Group share | |
01/04/2024 264.665 136.282 1.087.940 809 -407 1.489.289 Net Result for the period - - 144.872 - - 144.872
Other comprehensive income - - - - - -
Total comprehensive income - - 144.872 - - 144.872
Capital increase related to optional dividend 6.954 22.378 - - - 29.332
Dividends to shareholders - - -72.466 - - -72.466 Net purchase / sale own shares - - - - - -
Other changes - - - - - -
30/09/2024 271.619 158.660 1.160.346 809 -407 1.591.027
Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com 13
Antwerp, November 20th, 2025, 7:00 AM CET, Regulated information Press release
Gimv Group – Interim Consolidated cash flow statement for the first six months to 30/09/2025
Cash flow statement (direct method) (in 1,000 EUR) 30/09/2025 30/09/2024
Cash flow from operating activities Interest received on cash deposits Remuneration and other benefits to employees and directors LTIP remuneration to employees Other operating expenses Paid/recovered CIT and other taxes Cash flows from investing activities Investments in financial assets: equity investments Investments in financial assets: debt investments Proceeds from divested financial assets: equity investments Proceeds from repaid financial assets: debt investments Investments in investment entity subsidiaries Interest received from investment portfolio Dividend received from investment portfolio Earnout payments related to historical co-investment structures Short term bridge financing (repayment) to investment portfolio Other cash flows from investment activities Cash flows from financing activities Paid interest and fees on cash deposits and credit lines Dividends to shareholders Purchase / sale of own Shares Other cash flow from financing activities Change in cash and marketable securities during period Cash and marketable securitiesat beginning of period Acquired not yet received interest on deposits and other investments Cash and marketable securities at end of period | -47.797 5.494 -16.583 -24.413 -10.549 -1.746 -123.079 -45.892 -17.147 135.520 9.935 -256.067 5.443 762 -7.057 51.337 87 -62.159 -8.581 -57.490 3.227 685 -233.035 668.824 3.221 439.010 | -22.729 6.961 -15.696 -9.181 -5.320 506 31.750 -63.634 -24.567 92.815 20.559 - 4.453 2.175 - - -52 -44.680 -8.577 -36.853 675 75 -35.659 344.472 1.470 310.283 |
Gimv NV - Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - www.gimv.com | 14 |