GEBEMA: 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.
GEBEMA
Largest movements
- Stocks and contracts -€212,448
down €212,448 (-44.9%), from €473,616 to €261,168
- Receivables within one year -€138,017
down €138,017 (-18.4%), from €751,619 to €613,601
of which Trade receivables: -€127,014
- Cash +€118,143
up €118,143 (+161%), from €73,158 to €191,301
mainly Short-term financial debts (+€250,000) and Stocks and contracts (+€212,448)
- Current portion of long-term debt -€300,000
no longer reported in 2025 (was €300,000)
- Short-term financial debts +€250,000
new in 2025: €250,000
- Trade debts -€94,354
down €94,354 (-33.7%), from €280,041 to €185,686
- Tax, wage and social debts -€40,451
down €40,451 (-40.1%), from €100,935 to €60,484
- Other debts -€25,040
down €25,040 (-27.8%), from €90,120 to €65,080
- Gross operating margin +€48,365
up €48,365 (+93.8%), from €51,573 to €99,938
- Write-downs +€27,700
no longer reported in 2025 (was -€27,700)
- Taxes +€14,507
up €14,507 (+161%), from €9,010 to €23,517
- Financial charges -€5,465
down €5,465 (-24.8%), from €22,005 to €16,540
- Other operating charges +€5,101
up €5,101 (+412%), from €1,237 to €6,338
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 | €1,312,403 | €1,079,476 | -€232,928 | -17.7% |
| Fixed assets | 21/28 | €14,011 | €12,518 | -€1,493 | -10.7% |
| Intangible fixed assets | 21 | €3,617 | €1,667 | -€1,950 | -53.9% |
| Tangible fixed assets | 22/27 | €10,394 | €9,710 | -€683 | -6.6% |
| Land and buildings | 22 | €10,394 | €9,710 | -€683 | -6.6% |
| Financial fixed assets | 28 | - | €1,140 | +€1,140 | |
| Current assets | 29/58 | €1,298,392 | €1,066,958 | -€231,434 | -17.8% |
| Stocks and contracts in progress | 3 | €473,616 | €261,168 | -€212,448 | -44.9% |
| Stocks | 30/36 | €473,616 | €261,168 | -€212,448 | -44.9% |
| Amounts receivable within one year | 40/41 | €751,619 | €613,601 | -€138,017 | -18.4% |
| Trade receivables | 40 | €721,068 | €594,054 | -€127,014 | -17.6% |
| Other amounts receivable | 41 | €30,550 | €19,547 | -€11,003 | -36.0% |
| Cash at bank and in hand | 54/58 | €73,158 | €191,301 | +€118,143 | +161% |
| Deferred charges and accrued income | 490/1 | - | €887 | +€887 | |
| Total equity and liabilities | 10/49 | €1,312,403 | €1,079,476 | -€232,928 | -17.7% |
| Equity | 10/15 | €541,308 | €518,226 | -€23,082 | -4.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €205,532 | €205,532 | = | 0.0% |
| Non-distributable reserves | 130/1 | €532 | €532 | = | 0.0% |
| Reserves not available under the articles | 1311 | €532 | €532 | = | 0.0% |
| Distributable reserves | 133 | €205,000 | €205,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,776 | €12,694 | -€23,082 | -64.5% |
| Amounts payable | 17/49 | €771,096 | €561,250 | -€209,846 | -27.2% |
| Amounts payable within one year | 42/48 | €771,096 | €561,250 | -€209,846 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €300,000 | - | -€300,000 | |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €280,041 | €185,686 | -€94,354 | -33.7% |
| Suppliers | 440/4 | €280,041 | €185,686 | -€94,354 | -33.7% |
| Taxes, remuneration and social security | 45 | €100,935 | €60,484 | -€40,451 | -40.1% |
| Taxes | 450/3 | €100,935 | €60,484 | -€40,451 | -40.1% |
| Other amounts payable | 47/48 | €90,120 | €65,080 | -€25,040 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,633 | €2,633 | -€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,700 | - | +€27,700 | |
| Other operating charges | 640/8 | €1,237 | €6,338 | +€5,101 | +412% |
| Gross operating margin | 9900 | €51,573 | €99,938 | +€48,365 | +93.8% |
| Operating profit (loss) | 9901 | €75,403 | €90,967 | +€15,564 | +20.6% |
| Financial income | 75/76B | - | €1,008 | +€1,008 | |
| Recurring financial income | 75 | - | €1,008 | +€1,008 | |
| Financial charges | 65/66B | €22,005 | €16,540 | -€5,465 | -24.8% |
| Recurring financial charges | 65 | €22,005 | €16,540 | -€5,465 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €53,398 | €75,435 | +€22,037 | +41.3% |
| Income taxes | 67/77 | €9,010 | €23,517 | +€14,507 | +161% |
| Profit (loss) for the period | 9904 | €44,388 | €51,918 | +€7,530 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,388 | €51,918 | +€7,530 | +17.0% |
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 19 October 2026 via checked.be.