DR. BERT GEMELS - MKA: 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.
DR. BERT GEMELS - MKA
Largest movements
- Intangible fixed assets -€142,857
down €142,857 (-31.4%), from €454,403 to €311,546
- Current investments -€95,000
down €95,000 (-100%), from €95,000 to €0
- Deferred charges and accrued income +€48,918
up €48,918 (+12.7%), from €383,712 to €432,630
- Cash -€27,532
down €27,532 (-7.2%), from €384,349 to €356,817
mainly Contributions, distributions and other (-€360,299) and Debts after one year (-€158,145)
- Tangible fixed assets -€16,943
down €16,943 (-33.8%), from €50,071 to €33,127
of which Furniture and vehicles: -€12,093
- Debts after one year -€158,145
down €158,145 (-38.1%), from €414,917 to €256,772
- Other debts -€73,997
down €73,997 (-9.8%), from €757,462 to €683,465
- Accrued charges and deferred income -€14,215
down €14,215 (-100%), from €14,215 to €0
- Gross operating margin +€44,654
up €44,654 (+7.4%), from €602,215 to €646,870
- Taxes +€11,542
up €11,542 (+11.1%), from €103,647 to €115,189
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 | €1,367,645 | €1,134,790 | -€232,855 | -17.0% |
| Fixed assets | 21/28 | €504,473 | €344,673 | -€159,800 | -31.7% |
| Intangible fixed assets | 21 | €454,403 | €311,546 | -€142,857 | -31.4% |
| Tangible fixed assets | 22/27 | €50,071 | €33,127 | -€16,943 | -33.8% |
| Plant, machinery and equipment | 23 | €7,159 | €2,308 | -€4,851 | -67.8% |
| Furniture and vehicles | 24 | €42,912 | €30,819 | -€12,093 | -28.2% |
| Current assets | 29/58 | €863,172 | €790,117 | -€73,054 | -8.5% |
| Amounts receivable within one year | 40/41 | €110 | €670 | +€560 | +509% |
| Other amounts receivable | 41 | €110 | €670 | +€560 | +509% |
| Current investments | 50/53 | €95,000 | €0 | -€95,000 | -100% |
| Cash at bank and in hand | 54/58 | €384,349 | €356,817 | -€27,532 | -7.2% |
| Deferred charges and accrued income | 490/1 | €383,712 | €432,630 | +€48,918 | +12.7% |
| Total equity and liabilities | 10/49 | €1,367,645 | €1,134,790 | -€232,855 | -17.0% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,364,645 | €1,131,790 | -€232,855 | -17.1% |
| Amounts payable after more than one year | 17 | €414,917 | €256,772 | -€158,145 | -38.1% |
| Financial debts | 170/4 | €414,917 | €256,772 | -€158,145 | -38.1% |
| Amounts payable within one year | 42/48 | €935,514 | €875,018 | -€60,495 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €157,295 | €158,145 | +€850 | +0.5% |
| Trade debts | 44 | €804 | €1,068 | +€264 | +32.9% |
| Suppliers | 440/4 | €804 | €1,068 | +€264 | +32.9% |
| Taxes, remuneration and social security | 45 | €19,954 | €32,341 | +€12,387 | +62.1% |
| Taxes | 450/3 | €19,954 | €31,826 | +€11,873 | +59.5% |
| Remuneration and social security | 454/9 | €0 | €515 | +€515 | |
| Other amounts payable | 47/48 | €757,462 | €683,465 | -€73,997 | -9.8% |
| Accrued charges and deferred income | 492/3 | €14,215 | €0 | -€14,215 | -100% |
| Remuneration, social security and pensions | 62 | €9,214 | €4,196 | -€5,017 | -54.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163,341 | €165,355 | +€2,014 | +1.2% |
| Other operating charges | 640/8 | €564 | €558 | -€6 | -1.0% |
| Gross operating margin | 9900 | €602,215 | €646,870 | +€44,654 | +7.4% |
| Operating profit (loss) | 9901 | €429,097 | €476,760 | +€47,664 | +11.1% |
| Financial income | 75/76B | €2,894 | €1,592 | -€1,302 | -45.0% |
| Recurring financial income | 75 | €2,894 | €1,592 | -€1,302 | -45.0% |
| Financial charges | 65/66B | €3,659 | €2,864 | -€795 | -21.7% |
| Recurring financial charges | 65 | €3,659 | €2,864 | -€795 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €428,331 | €475,487 | +€47,156 | +11.0% |
| Income taxes | 67/77 | €103,647 | €115,189 | +€11,542 | +11.1% |
| Profit (loss) for the period | 9904 | €324,684 | €360,299 | +€35,614 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €324,684 | €360,299 | +€35,614 | +11.0% |
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 24 October 2026 via checked.be.