GEM EUROPE: 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 EUROPE
Largest movements
- Cash +€39,053
up €39,053 (+130%), from €30,041 to €69,094
mainly Net result for the year (+€17,976) and Stocks and contracts (+€9,950)
- Stocks and contracts -€9,950
down €9,950 (-6.9%), from €145,194 to €135,244
- Tangible fixed assets -€5,601
down €5,601 (-11.6%), from €48,465 to €42,864
of which Land and buildings: -€4,567
- Receivables within one year -€4,208
down €4,208 (-3.6%), from €115,432 to €111,224
of which Trade receivables: -€5,359
- Reserves +€17,976
up €17,976 (+13.1%), from €137,562 to €155,538
of which Distributable reserves: +€17,976
- Tax, wage and social debts +€8,358
up €8,358 (+39.8%), from €21,018 to €29,376
of which Remuneration and social security: +€5,842
- Gross operating margin +€35,266
up €35,266 (+41.5%), from €84,893 to €120,159
- Taxes +€3,397
up €3,397 (+1,342%), from €253 to €3,650
- Staff costs -€1,647
down €1,647 (-1.8%), from €92,723 to €91,076
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 | €393,720 | €413,615 | +€19,895 | +5.1% |
| Fixed assets | 21/28 | €48,693 | €43,092 | -€5,600 | -11.5% |
| Tangible fixed assets | 22/27 | €48,465 | €42,864 | -€5,601 | -11.6% |
| Land and buildings | 22 | €42,241 | €37,674 | -€4,567 | -10.8% |
| Furniture and vehicles | 24 | €6,223 | €5,189 | -€1,034 | -16.6% |
| Financial fixed assets | 28 | €228 | €229 | +€1 | +0.4% |
| Current assets | 29/58 | €345,027 | €370,523 | +€25,496 | +7.4% |
| Stocks and contracts in progress | 3 | €145,194 | €135,244 | -€9,950 | -6.9% |
| Stocks | 30/36 | €145,194 | €135,244 | -€9,950 | -6.9% |
| Amounts receivable within one year | 40/41 | €115,432 | €111,224 | -€4,208 | -3.6% |
| Trade receivables | 40 | €108,612 | €103,254 | -€5,359 | -4.9% |
| Other amounts receivable | 41 | €6,820 | €7,970 | +€1,150 | +16.9% |
| Current investments | 50/53 | €50,198 | €50,198 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,041 | €69,094 | +€39,053 | +130% |
| Deferred charges and accrued income | 490/1 | €4,161 | €4,763 | +€602 | +14.5% |
| Total equity and liabilities | 10/49 | €393,720 | €413,615 | +€19,895 | +5.1% |
| Equity | 10/15 | €317,562 | €335,538 | +€17,976 | +5.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €137,562 | €155,538 | +€17,976 | +13.1% |
| Non-distributable reserves | 130/1 | €68,790 | €68,790 | = | 0.0% |
| Legal reserve | 130 | €18,592 | €18,592 | = | 0.0% |
| Own shares acquired | 1312 | €50,198 | €50,198 | = | 0.0% |
| Distributable reserves | 133 | €68,771 | €86,747 | +€17,976 | +26.1% |
| Amounts payable | 17/49 | €76,158 | €78,078 | +€1,919 | +2.5% |
| Amounts payable within one year | 42/48 | €75,671 | €77,591 | +€1,919 | +2.5% |
| Financial debts | 43 | €2,837 | - | -€2,837 | |
| Credit institutions | 430/8 | €2,837 | - | -€2,837 | |
| Trade debts | 44 | €51,817 | €48,215 | -€3,602 | -7.0% |
| Suppliers | 440/4 | €51,817 | €48,215 | -€3,602 | -7.0% |
| Taxes, remuneration and social security | 45 | €21,018 | €29,376 | +€8,358 | +39.8% |
| Taxes | 450/3 | €7,598 | €10,114 | +€2,516 | +33.1% |
| Remuneration and social security | 454/9 | €13,420 | €19,262 | +€5,842 | +43.5% |
| Accrued charges and deferred income | 492/3 | €487 | €487 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €92,723 | €91,076 | -€1,647 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,172 | €7,571 | +€399 | +5.6% |
| Other operating charges | 640/8 | €2,197 | €1,732 | -€465 | -21.2% |
| Non-recurring operating charges | 66A | €1,128 | - | -€1,128 | |
| Gross operating margin | 9900 | €84,893 | €120,159 | +€35,266 | +41.5% |
| Operating profit (loss) | 9901 | -€18,326 | €19,780 | +€38,107 | |
| Financial income | 75/76B | €2,271 | €3,035 | +€764 | +33.7% |
| Recurring financial income | 75 | €2,271 | €3,035 | +€764 | +33.7% |
| Financial charges | 65/66B | €1,594 | €1,189 | -€405 | -25.4% |
| Recurring financial charges | 65 | €1,594 | €1,189 | -€405 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | -€17,650 | €21,626 | +€39,276 | |
| Income taxes | 67/77 | €253 | €3,650 | +€3,397 | +1,342% |
| Profit (loss) for the period | 9904 | -€17,903 | €17,976 | +€35,879 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,903 | €17,976 | +€35,879 |
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 31 October 2026 via checked.be.