GEEMS: 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.
GEEMS
Largest movements
- Stocks and contracts -€71,669
no longer reported in 2025 (was €71,669)
- Cash -€57,131
down €57,131 (-85.5%), from €66,821 to €9,690
mainly Net result for the year (-€118,946) and Tax, wage and social debts (-€19,684)
- Receivables within one year -€16,413
down €16,413 (-77.7%), from €21,127 to €4,714
of which Other amounts receivable: -€10,677
- Tangible fixed assets -€10,177
down €10,177 (-100%), from €10,177 to €0
of which Furniture and vehicles: -€8,876
- Deferred charges and accrued income -€2,080
no longer reported in 2025 (was €2,080)
- Profit (loss) carried forward -€118,946
down €118,946 (-122%), from -€97,544 to -€216,490
- Tax, wage and social debts -€19,684
down €19,684 (-99.2%), from €19,852 to €169
of which Remuneration and social security: -€19,852
- Trade debts -€13,395
down €13,395 (-16.3%), from €82,041 to €68,645
- Short-term financial debts -€3,750
no longer reported in 2025 (was €3,750)
- Staff costs -€124,612
down €124,612 (-83.9%), from €148,575 to €23,963
- Gross operating margin -€118,491
down €118,491, from €106,543 to -€11,947
- Write-downs +€28,811
no longer reported in 2025 (was -€28,811)
- Other operating charges -€19,337
down €19,337 (-85.3%), from €22,662 to €3,325
- Depreciation -€7,921
down €7,921 (-84.6%), from €9,359 to €1,438
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 | €171,875 | €14,404 | -€157,471 | -91.6% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €10,177 | €0 | -€10,177 | -100% |
| Tangible fixed assets | 22/27 | €10,177 | €0 | -€10,177 | -100% |
| Plant, machinery and equipment | 23 | €1,301 | - | -€1,301 | |
| Furniture and vehicles | 24 | €8,876 | €0 | -€8,876 | -100% |
| Current assets | 29/58 | €161,698 | €14,404 | -€147,293 | -91.1% |
| Stocks and contracts in progress | 3 | €71,669 | - | -€71,669 | |
| Stocks | 30/36 | €71,669 | - | -€71,669 | |
| Amounts receivable within one year | 40/41 | €21,127 | €4,714 | -€16,413 | -77.7% |
| Trade receivables | 40 | €5,736 | - | -€5,736 | |
| Other amounts receivable | 41 | €15,391 | €4,714 | -€10,677 | -69.4% |
| Cash at bank and in hand | 54/58 | €66,821 | €9,690 | -€57,131 | -85.5% |
| Deferred charges and accrued income | 490/1 | €2,080 | - | -€2,080 | |
| Total equity and liabilities | 10/49 | €171,875 | €14,404 | -€157,471 | -91.6% |
| Equity | 10/15 | €64,537 | -€54,409 | -€118,946 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €143,481 | €143,481 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €136,621 | €136,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€97,544 | -€216,490 | -€118,946 | -122% |
| Amounts payable | 17/49 | €107,338 | €68,814 | -€38,524 | -35.9% |
| Amounts payable within one year | 42/48 | €107,338 | €68,814 | -€38,524 | -35.9% |
| Financial debts | 43 | €3,750 | - | -€3,750 | |
| Credit institutions | 430/8 | €3,750 | - | -€3,750 | |
| Trade debts | 44 | €82,041 | €68,645 | -€13,395 | -16.3% |
| Suppliers | 440/4 | €82,041 | €68,645 | -€13,395 | -16.3% |
| Advances received on contracts in progress | 46 | €1,695 | - | -€1,695 | |
| Taxes, remuneration and social security | 45 | €19,852 | €169 | -€19,684 | -99.2% |
| Taxes | 450/3 | - | €169 | +€169 | |
| Remuneration and social security | 454/9 | €19,852 | - | -€19,852 | |
| Non-recurring operating income | 76A | - | €1,600 | +€1,600 | |
| Remuneration, social security and pensions | 62 | €148,575 | €23,963 | -€124,612 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,359 | €1,438 | -€7,921 | -84.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28,811 | - | +€28,811 | |
| Other operating charges | 640/8 | €22,662 | €3,325 | -€19,337 | -85.3% |
| Non-recurring operating charges | 66A | - | €80,441 | +€80,441 | |
| Gross operating margin | 9900 | €106,543 | -€11,947 | -€118,491 | |
| Operating profit (loss) | 9901 | -€45,241 | -€121,114 | -€75,873 | -168% |
| Financial income | 75/76B | €169 | €2,992 | +€2,823 | +1,672% |
| Recurring financial income | 75 | €169 | €2,992 | +€2,823 | +1,672% |
| Financial charges | 65/66B | €6,359 | €856 | -€5,504 | -86.5% |
| Recurring financial charges | 65 | €6,359 | €856 | -€5,504 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | -€51,432 | -€118,978 | -€67,546 | -131% |
| Income taxes | 67/77 | €160 | -€32 | -€192 | |
| Profit (loss) for the period | 9904 | -€51,592 | -€118,946 | -€67,354 | -131% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,592 | -€118,946 | -€67,354 | -131% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.