GEM: 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.
GEM
Largest movements
- Receivables within one year -€1,607
down €1,607 (-67.4%), from €2,385 to €778
of which Trade receivables: -€1,647
- Cash -€1,110
down €1,110 (-35.4%), from €3,139 to €2,029
mainly Net result for the year (-€2,021) and Trade debts (-€613)
- Tangible fixed assets -€362
no longer reported in 2025 (was €362)
- Profit (loss) carried forward -€2,021
down €2,021 (-302.6%), from -€668 to -€2,689
- Trade debts -€613
down €613 (-55.3%), from €1,109 to €496
- Accrued charges and deferred income -€445
no longer reported in 2025 (was €445)
- Other operating charges +€991
new in 2025: €991
- Gross operating margin -€175
down €175 (-39.3%), from -€445 to -€620
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 | €5,886 | €2,806 | -€3,079 | -52.3% |
| Fixed assets | 21/28 | €362 | - | -€362 | |
| Tangible fixed assets | 22/27 | €362 | - | -€362 | |
| Plant, machinery and equipment | 23 | €362 | - | -€362 | |
| Current assets | 29/58 | €5,524 | €2,806 | -€2,718 | -49.2% |
| Amounts receivable within one year | 40/41 | €2,385 | €778 | -€1,607 | -67.4% |
| Trade receivables | 40 | €2,360 | €712 | -€1,647 | -69.8% |
| Other amounts receivable | 41 | €26 | €65 | +€40 | +156.3% |
| Cash at bank and in hand | 54/58 | €3,139 | €2,029 | -€1,110 | -35.4% |
| Total equity and liabilities | 10/49 | €5,886 | €2,806 | -€3,079 | -52.3% |
| Equity | 10/15 | €4,332 | €2,311 | -€2,021 | -46.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | €5,000 | = | 0.0% |
| Other | 1109/19 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€668 | -€2,689 | -€2,021 | -302.6% |
| Amounts payable | 17/49 | €1,554 | €496 | -€1,058 | -68.1% |
| Amounts payable within one year | 42/48 | €1,109 | €496 | -€613 | -55.3% |
| Trade debts | 44 | €1,109 | €496 | -€613 | -55.3% |
| Suppliers | 440/4 | €1,109 | €496 | -€613 | -55.3% |
| Accrued charges and deferred income | 492/3 | €445 | - | -€445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €362 | €362 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €991 | +€991 | |
| Gross operating margin | 9900 | -€445 | -€620 | -€175 | -39.3% |
| Operating profit (loss) | 9901 | -€807 | -€1,973 | -€1,166 | -144.5% |
| Financial charges | 65/66B | €52 | €49 | -€3 | -5.8% |
| Recurring financial charges | 65 | €52 | €49 | -€3 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€858 | -€2,021 | -€1,163 | -135.5% |
| Profit (loss) for the period | 9904 | -€858 | -€2,021 | -€1,163 | -135.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€858 | -€2,021 | -€1,163 | -135.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.