GEEMA: what changed
Two fiscal 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.
GEEMA
Largest movements
- Cash -€524,968
down €524,968 (-88.6%), from €592,735 to €67,767
mainly Contributions, distributions and other (-€686,956) and Short-term financial debts (-€32,886)
- Reserves -€514,905
down €514,905 (-93.3%), from €552,086 to €37,181
- Short-term financial debts -€32,886
no longer reported in 2025 (was €32,886)
- Trade debts +€18,899
up €18,899 (+80.0%), from €23,638 to €42,537
- Current portion of long-term debt +€8,295
up €8,295 (+16.6%), from €49,818 to €58,112
- Gross operating margin -€212,837
down €212,837 (-17.1%), from €1.2m to €1.0m
- Staff costs +€127,354
up €127,354 (+19.3%), from €660,697 to €788,051
- Taxes -€84,468
down €84,468 (-54.8%), from €154,156 to €69,688
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.
Cash bridge derived
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 | €678,544 | €158,662 | -€519,882 | -76.6% |
| Fixed assets | 21/28 | €882 | €656 | -€226 | -25.6% |
| Tangible fixed assets | 22/27 | €882 | €656 | -€226 | -25.6% |
| Furniture and vehicles | 24 | €882 | €656 | -€226 | -25.6% |
| Current assets | 29/58 | €677,662 | €158,006 | -€519,656 | -76.7% |
| Amounts receivable within one year | 40/41 | €55,437 | €62,008 | +€6,571 | +11.9% |
| Other amounts receivable | 41 | €55,437 | €62,008 | +€6,571 | +11.9% |
| Current investments | 50/53 | €1,500 | - | -€1,500 | |
| Cash at bank and in hand | 54/58 | €592,735 | €67,767 | -€524,968 | -88.6% |
| Deferred charges and accrued income | 490/1 | €27,990 | €28,231 | +€241 | +0.9% |
| Total equity and liabilities | 10/49 | €678,544 | €158,662 | -€519,882 | -76.6% |
| Equity | 10/15 | €572,202 | €57,297 | -€514,905 | -90.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €552,086 | €37,181 | -€514,905 | -93.3% |
| Distributable reserves | 133 | €552,086 | €37,181 | -€514,905 | -93.3% |
| Profit (loss) carried forward | 14 | €1,517 | €1,517 | = | 0.0% |
| Amounts payable | 17/49 | €106,342 | €101,365 | -€4,977 | -4.7% |
| Amounts payable within one year | 42/48 | €106,342 | €101,365 | -€4,977 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €49,818 | €58,112 | +€8,295 | +16.6% |
| Financial debts | 43 | €32,886 | - | -€32,886 | |
| Credit institutions | 430/8 | €32,886 | - | -€32,886 | |
| Trade debts | 44 | €23,638 | €42,537 | +€18,899 | +80.0% |
| Suppliers | 440/4 | €23,638 | €42,537 | +€18,899 | +80.0% |
| Other amounts payable | 47/48 | - | €715 | +€715 | |
| Remuneration, social security and pensions | 62 | €660,697 | €788,051 | +€127,354 | +19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €226 | €226 | = | 0.0% |
| Other operating charges | 640/8 | €886 | €1,323 | +€437 | +49.3% |
| Gross operating margin | 9900 | €1,245,402 | €1,032,565 | -€212,837 | -17.1% |
| Operating profit (loss) | 9901 | €583,594 | €242,965 | -€340,628 | -58.4% |
| Financial income | 75/76B | €2,302 | €823 | -€1,479 | -64.3% |
| Recurring financial income | 75 | €2,302 | €823 | -€1,479 | -64.3% |
| Financial charges | 65/66B | €5,775 | €2,049 | -€3,725 | -64.5% |
| Recurring financial charges | 65 | €5,775 | €2,049 | -€3,725 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €580,121 | €241,739 | -€338,382 | -58.3% |
| Income taxes | 67/77 | €154,156 | €69,688 | -€84,468 | -54.8% |
| Profit (loss) for the period | 9904 | €425,965 | €172,051 | -€253,914 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €425,965 | €172,051 | -€253,914 | -59.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.