Gelma: 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.
Gelma
Largest movements
- Tangible fixed assets -€30,865
down €30,865 (-9.4%), from €328,418 to €297,553
of which Land and buildings: -€23,471
- Cash -€6,209
down €6,209 (-7.5%), from €82,619 to €76,410
mainly Net result for the year (-€24,149) and Provisions (-€7,174)
- Reserves -€15,810
down €15,810 (-10.7%), from €148,279 to €132,469
of which Tax-exempt reserves: -€15,810
- Profit (loss) carried forward -€8,339
down €8,339 (-4.3%), from €191,918 to €183,579
- Provisions -€7,174
down €7,174 (-11.0%), from €65,103 to €57,930
- Gross operating margin -€16,369
down €16,369 (-61.9%), from €26,450 to €10,081
- Turnover -€12,557
down €12,557 (-26.9%), from €46,734 to €34,177
- Depreciation +€5,857
up €5,857 (+19.2%), from €30,456 to €36,314
- Purchases and services +€3,812
up €3,812 (+18.8%), from €20,284 to €24,096
- Other operating charges +€1,275
up €1,275 (+31.7%), from €4,019 to €5,294
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 | €429,924 | €396,472 | -€33,453 | -7.8% |
| Fixed assets | 21/28 | €330,316 | €299,450 | -€30,865 | -9.3% |
| Tangible fixed assets | 22/27 | €328,418 | €297,553 | -€30,865 | -9.4% |
| Land and buildings | 22 | €290,283 | €266,813 | -€23,471 | -8.1% |
| Plant, machinery and equipment | 23 | €6,980 | €5,095 | -€1,885 | -27.0% |
| Furniture and vehicles | 24 | €31,155 | €25,645 | -€5,510 | -17.7% |
| Financial fixed assets | 28 | €1,898 | €1,898 | = | 0.0% |
| Current assets | 29/58 | €99,608 | €97,021 | -€2,587 | -2.6% |
| Current investments | 50/53 | €15,366 | €18,203 | +€2,837 | +18.5% |
| Cash at bank and in hand | 54/58 | €82,619 | €76,410 | -€6,209 | -7.5% |
| Deferred charges and accrued income | 490/1 | €1,623 | €2,409 | +€785 | +48.4% |
| Total equity and liabilities | 10/49 | €429,924 | €396,472 | -€33,453 | -7.8% |
| Equity | 10/15 | €358,789 | €334,640 | -€24,149 | -6.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €148,279 | €132,469 | -€15,810 | -10.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €144,437 | €128,627 | -€15,810 | -10.9% |
| Distributable reserves | 133 | €1,983 | €1,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | €191,918 | €183,579 | -€8,339 | -4.3% |
| Provisions and deferred taxes | 16 | €65,103 | €57,930 | -€7,174 | -11.0% |
| Deferred taxes | 168 | €65,103 | €57,930 | -€7,174 | -11.0% |
| Amounts payable | 17/49 | €6,032 | €3,902 | -€2,130 | -35.3% |
| Amounts payable after more than one year | 17 | €4,086 | €2,886 | -€1,200 | -29.4% |
| Other amounts payable | 178/9 | €4,086 | €2,886 | -€1,200 | -29.4% |
| Amounts payable within one year | 42/48 | €1,945 | €1,015 | -€930 | -47.8% |
| Other amounts payable | 47/48 | €1,945 | €1,015 | -€930 | -47.8% |
| Turnover | 70 | €46,734 | €34,177 | -€12,557 | -26.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €20,284 | €24,096 | +€3,812 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,456 | €36,314 | +€5,857 | +19.2% |
| Other operating charges | 640/8 | €4,019 | €5,294 | +€1,275 | +31.7% |
| Gross operating margin | 9900 | €26,450 | €10,081 | -€16,369 | -61.9% |
| Operating profit (loss) | 9901 | -€8,026 | -€31,527 | -€23,501 | -292.8% |
| Financial income | 75/76B | €240 | €430 | +€189 | +78.9% |
| Recurring financial income | 75 | €240 | €430 | +€189 | +78.9% |
| Financial charges | 65/66B | €208 | €225 | +€18 | +8.6% |
| Recurring financial charges | 65 | €208 | €225 | +€18 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,993 | -€31,323 | -€23,330 | -291.9% |
| Transfer from deferred taxes | 780 | €7,636 | €7,174 | -€463 | -6.1% |
| Profit (loss) for the period | 9904 | -€357 | -€24,149 | -€23,792 | -6670.3% |
| Transfer from tax-exempt reserves | 789 | €17,129 | €15,810 | -€1,319 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,773 | -€8,339 | -€25,112 |
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.