GEM SPORT: 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 SPORT
Largest movements
- Cash +€150,891
up €150,891 (+1,105%), from €13,652 to €164,543
mainly Net result for the year (+€75,036) and Receivables within one year (+€60,800)
- Receivables within one year -€60,800
down €60,800 (-11.0%), from €551,303 to €490,502
of which Trade receivables: -€60,153
- Reserves +€70,000
up €70,000 (+16.9%), from €414,672 to €484,672
of which Distributable reserves: +€70,000
- Trade debts +€31,732
up €31,732 (+94.5%), from €33,563 to €65,295
- Tax, wage and social debts -€11,744
down €11,744 (-27.3%), from €42,967 to €31,223
of which Taxes: -€12,074
- Gross operating margin -€19,146
down €19,146 (-10.9%), from €175,376 to €156,231
- Depreciation -€14,247
down €14,247 (-87.9%), from €16,200 to €1,953
- Taxes -€14,207
down €14,207 (-35.4%), from €40,096 to €25,888
- Staff costs +€5,699
up €5,699 (+12.5%), from €45,643 to €51,343
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 | €568,852 | €658,291 | +€89,439 | +15.7% |
| Fixed assets | 21/28 | €1,953 | - | -€1,953 | |
| Tangible fixed assets | 22/27 | €1,953 | - | -€1,953 | |
| Furniture and vehicles | 24 | €1,953 | - | -€1,953 | |
| Current assets | 29/58 | €566,899 | €658,291 | +€91,392 | +16.1% |
| Amounts receivable within one year | 40/41 | €551,303 | €490,502 | -€60,800 | -11.0% |
| Trade receivables | 40 | €550,531 | €490,378 | -€60,153 | -10.9% |
| Other amounts receivable | 41 | €772 | €124 | -€647 | -83.9% |
| Cash at bank and in hand | 54/58 | €13,652 | €164,543 | +€150,891 | +1,105% |
| Deferred charges and accrued income | 490/1 | €1,944 | €3,245 | +€1,301 | +66.9% |
| Total equity and liabilities | 10/49 | €568,852 | €658,291 | +€89,439 | +15.7% |
| Equity | 10/15 | €486,697 | €561,734 | +€75,036 | +15.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €414,672 | €484,672 | +€70,000 | +16.9% |
| Non-distributable reserves | 130/1 | €6,195 | €6,195 | = | 0.0% |
| Legal reserve | 130 | €6,195 | €6,195 | = | 0.0% |
| Distributable reserves | 133 | €408,477 | €478,477 | +€70,000 | +17.1% |
| Profit (loss) carried forward | 14 | €10,026 | €15,062 | +€5,036 | +50.2% |
| Amounts payable | 17/49 | €82,155 | €96,557 | +€14,403 | +17.5% |
| Amounts payable within one year | 42/48 | €82,155 | €96,557 | +€14,403 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €5,585 | - | -€5,585 | |
| Trade debts | 44 | €33,563 | €65,295 | +€31,732 | +94.5% |
| Suppliers | 440/4 | €33,563 | €65,295 | +€31,732 | +94.5% |
| Taxes, remuneration and social security | 45 | €42,967 | €31,223 | -€11,744 | -27.3% |
| Taxes | 450/3 | €39,574 | €27,500 | -€12,074 | -30.5% |
| Remuneration and social security | 454/9 | €3,393 | €3,723 | +€330 | +9.7% |
| Other amounts payable | 47/48 | €40 | €40 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €45,643 | €51,343 | +€5,699 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,200 | €1,953 | -€14,247 | -87.9% |
| Other operating charges | 640/8 | €848 | €1,730 | +€882 | +104% |
| Gross operating margin | 9900 | €175,376 | €156,231 | -€19,146 | -10.9% |
| Operating profit (loss) | 9901 | €112,684 | €101,205 | -€11,479 | -10.2% |
| Financial income | 75/76B | - | €27 | +€27 | |
| Recurring financial income | 75 | - | €27 | +€27 | |
| Financial charges | 65/66B | €541 | €308 | -€233 | -43.1% |
| Recurring financial charges | 65 | €541 | €308 | -€233 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €112,144 | €100,925 | -€11,219 | -10.0% |
| Income taxes | 67/77 | €40,096 | €25,888 | -€14,207 | -35.4% |
| Profit (loss) for the period | 9904 | €72,048 | €75,036 | +€2,988 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72,048 | €75,036 | +€2,988 | +4.1% |
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 13 October 2026 via checked.be.