GELMINI: 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.
GELMINI
Largest movements
- Cash +€64,222
up €64,222 (+61.3%), from €104,713 to €168,934
mainly Net result for the year (+€28,537) and Other debts (+€18,057)
- Receivables within one year -€8,409
down €8,409 (-17.1%), from €49,305 to €40,896
of which Other amounts receivable: -€15,125
- Deferred charges and accrued income -€2,781
down €2,781 (-36.3%), from €7,655 to €4,874
- Other debts +€18,057
up €18,057 (+819.7%), from €2,203 to €20,260
- Tax, wage and social debts +€17,667
up €17,667 (+1218.1%), from €1,450 to €19,117
of which Taxes: +€16,523
- Advances received +€16,520
new in 2025: €16,520
- Trade debts +€8,439
up €8,439 (+141.7%), from €5,955 to €14,394
- Accrued charges and deferred income -€5,460
down €5,460 (-94.3%), from €5,789 to €329
- Staff costs -€41,868
down €41,868 (-47.2%), from €88,789 to €46,921
- Gross operating margin -€17,717
down €17,717 (-14.8%), from €119,789 to €102,072
- Taxes +€11,524
up €11,524 (+162.1%), from €7,110 to €18,634
- Depreciation -€3,887
down €3,887 (-81.8%), from €4,751 to €865
- Other operating charges +€2,348
up €2,348 (+67.8%), from €3,466 to €5,814
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 | €163,882 | €217,641 | +€53,759 | +32.8% |
| Fixed assets | 21/28 | €1,242 | €1,653 | +€411 | +33.1% |
| Tangible fixed assets | 22/27 | €1,032 | €1,444 | +€411 | +39.9% |
| Plant, machinery and equipment | 23 | €1,032 | €432 | -€600 | -58.1% |
| Furniture and vehicles | 24 | €0 | €1,011 | +€1,011 | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €162,640 | €215,988 | +€53,348 | +32.8% |
| Stocks and contracts in progress | 3 | €968 | €1,284 | +€316 | +32.6% |
| Stocks | 30/36 | €968 | €1,284 | +€316 | +32.6% |
| Amounts receivable within one year | 40/41 | €49,305 | €40,896 | -€8,409 | -17.1% |
| Trade receivables | 40 | €34,112 | €40,827 | +€6,715 | +19.7% |
| Other amounts receivable | 41 | €15,193 | €69 | -€15,125 | -99.5% |
| Cash at bank and in hand | 54/58 | €104,713 | €168,934 | +€64,222 | +61.3% |
| Deferred charges and accrued income | 490/1 | €7,655 | €4,874 | -€2,781 | -36.3% |
| Total equity and liabilities | 10/49 | €163,882 | €217,641 | +€53,759 | +32.8% |
| Equity | 10/15 | €148,485 | €147,021 | -€1,463 | -1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €65,971 | €64,508 | -€1,463 | -2.2% |
| Non-distributable reserves | 130/1 | €65,971 | - | -€65,971 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Other | 1319 | €64,112 | - | -€64,112 | |
| Distributable reserves | 133 | - | €64,508 | +€64,508 | |
| Profit (loss) carried forward | 14 | €63,921 | €63,921 | = | 0.0% |
| Amounts payable | 17/49 | €15,397 | €70,620 | +€55,223 | +358.7% |
| Amounts payable within one year | 42/48 | €9,608 | €70,291 | +€60,683 | +631.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €5,955 | €14,394 | +€8,439 | +141.7% |
| Suppliers | 440/4 | €5,955 | €14,394 | +€8,439 | +141.7% |
| Advances received on contracts in progress | 46 | - | €16,520 | +€16,520 | |
| Taxes, remuneration and social security | 45 | €1,450 | €19,117 | +€17,667 | +1218.1% |
| Taxes | 450/3 | €1,450 | €17,974 | +€16,523 | +1139.2% |
| Remuneration and social security | 454/9 | €0 | €1,144 | +€1,144 | |
| Other amounts payable | 47/48 | €2,203 | €20,260 | +€18,057 | +819.7% |
| Accrued charges and deferred income | 492/3 | €5,789 | €329 | -€5,460 | -94.3% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €88,789 | €46,921 | -€41,868 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,751 | €865 | -€3,887 | -81.8% |
| Other operating charges | 640/8 | €3,466 | €5,814 | +€2,348 | +67.8% |
| Non-recurring operating charges | 66A | €105 | - | -€105 | |
| Gross operating margin | 9900 | €119,789 | €102,072 | -€17,717 | -14.8% |
| Operating profit (loss) | 9901 | €22,677 | €48,472 | +€25,795 | +113.7% |
| Financial income | 75/76B | €96 | €178 | +€82 | +85.1% |
| Recurring financial income | 75 | €96 | €178 | +€82 | +85.1% |
| Financial charges | 65/66B | €1,551 | €1,480 | -€71 | -4.6% |
| Recurring financial charges | 65 | €1,551 | €1,480 | -€71 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €21,222 | €47,171 | +€25,948 | +122.3% |
| Income taxes | 67/77 | €7,110 | €18,634 | +€11,524 | +162.1% |
| Profit (loss) for the period | 9904 | €14,112 | €28,537 | +€14,424 | +102.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,112 | €28,537 | +€14,424 | +102.2% |
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 2 October 2026 via checked.be.