GEEMAR: 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.
GEEMAR
Largest movements
- Receivables within one year +€31,268
up €31,268 (+187.7%), from €16,656 to €47,925
of which Trade receivables: +€30,765
- Reserves +€36,613
up €36,613 (+8889.4%), from €412 to €37,025
of which Distributable reserves: +€36,613
- Tax, wage and social debts -€28,094
down €28,094 (-68.7%), from €40,886 to €12,791
- Current portion of long-term debt +€17,396
up €17,396 (+30.7%), from €56,700 to €74,096
- Short-term financial debts +€7,118
up €7,118 (+36.1%), from €19,715 to €26,833
- Gross operating margin +€77,952
up €77,952, from -€18,493 to €59,459
- Taxes +€7,981
up €7,981 (+1730.6%), from €461 to €8,442
- Financial charges +€3,467
up €3,467 (+92.9%), from €3,732 to €7,200
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 | €268,107 | €297,780 | +€29,673 | +11.1% |
| Fixed assets | 21/28 | - | €1,183 | +€1,183 | |
| Tangible fixed assets | 22/27 | - | €1,183 | +€1,183 | |
| Furniture and vehicles | 24 | - | €1,183 | +€1,183 | |
| Current assets | 29/58 | €268,107 | €296,597 | +€28,491 | +10.6% |
| Stocks and contracts in progress | 3 | €246,196 | €246,196 | = | 0.0% |
| Stocks | 30/36 | €246,196 | €246,196 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,656 | €47,925 | +€31,268 | +187.7% |
| Trade receivables | 40 | €13,663 | €44,427 | +€30,765 | +225.2% |
| Other amounts receivable | 41 | €2,994 | €3,498 | +€504 | +16.8% |
| Cash at bank and in hand | 54/58 | €4,502 | €1,725 | -€2,778 | -61.7% |
| Deferred charges and accrued income | 490/1 | €752 | €752 | = | 0.0% |
| Total equity and liabilities | 10/49 | €268,107 | €297,780 | +€29,673 | +11.1% |
| Equity | 10/15 | €89,563 | €126,176 | +€36,613 | +40.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €412 | €37,025 | +€36,613 | +8889.4% |
| Non-distributable reserves | 130/1 | €412 | €412 | = | 0.0% |
| Reserves not available under the articles | 1311 | €412 | €412 | = | 0.0% |
| Distributable reserves | 133 | - | €36,613 | +€36,613 | |
| Profit (loss) carried forward | 14 | €69,151 | €69,151 | = | 0.0% |
| Amounts payable | 17/49 | €178,544 | €171,604 | -€6,939 | -3.9% |
| Amounts payable within one year | 42/48 | €178,544 | €171,604 | -€6,939 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €56,700 | €74,096 | +€17,396 | +30.7% |
| Financial debts | 43 | €19,715 | €26,833 | +€7,118 | +36.1% |
| Credit institutions | 430/8 | €19,715 | €26,833 | +€7,118 | +36.1% |
| Trade debts | 44 | €30,360 | €28,376 | -€1,984 | -6.5% |
| Suppliers | 440/4 | €30,360 | €28,376 | -€1,984 | -6.5% |
| Taxes, remuneration and social security | 45 | €40,886 | €12,791 | -€28,094 | -68.7% |
| Taxes | 450/3 | €40,886 | €12,791 | -€28,094 | -68.7% |
| Other amounts payable | 47/48 | €30,883 | €29,507 | -€1,376 | -4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €296 | +€296 | |
| Other operating charges | 640/8 | €7,477 | €6,909 | -€569 | -7.6% |
| Gross operating margin | 9900 | -€18,493 | €59,459 | +€77,952 | |
| Operating profit (loss) | 9901 | -€25,970 | €52,255 | +€78,225 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €3,732 | €7,200 | +€3,467 | +92.9% |
| Recurring financial charges | 65 | €3,732 | €7,200 | +€3,467 | +92.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,701 | €45,055 | +€74,756 | |
| Income taxes | 67/77 | €461 | €8,442 | +€7,981 | +1730.6% |
| Profit (loss) for the period | 9904 | -€30,162 | €36,613 | +€66,775 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,162 | €36,613 | +€66,775 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.