GEMA: 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.
What changed
GEMA
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€242,431
2024 · €157,353+€85,078
Equity
€221,297
2024 · €228,865-€7,569
Cash
€112,469
2024 · €138,206-€25,737
Balance sheet total
€2.3m
2024 · €2.3m+€1,935
Largest movements
Assets
- Tangible fixed assets -€176,703
down €176,703 (-37.8%), from €467,083 to €290,380
- Receivables within one year +€144,913
up €144,913 (+12.7%), from €1.1m to €1.3m
of which Trade receivables: +€104,930
- Stocks and contracts +€59,737
up €59,737 (+10.4%), from €574,424 to €634,161
- Cash -€25,737
down €25,737 (-18.6%), from €138,206 to €112,469
mainly Contributions, distributions and other (-€250,000) and Receivables within one year (-€144,913)
Equity and liabilities
- Trade debts +€159,234
up €159,234 (+11.0%), from €1.5m to €1.6m
- Debts after one year -€95,040
down €95,040 (-39.4%), from €241,130 to €146,090
- Tax, wage and social debts -€26,253
down €26,253 (-15.5%), from €169,578 to €143,325
of which Taxes: -€24,370
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€157,353
Gross operating margin
+€110,750
Staff costs
-€23,555
Depreciation
+€12,152
Other operating charges
-€211
Other operating items
-€123
Financial income
+€1,022
Financial charges
-€20,415
Taxes
+€5,460
Result 2025
€242,431
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.
From operations
+€326,975
Investment
-€714
Financing
-€351,998
Cash 2024
€138,206
From operations (derived)
+€326,975
Net result for the year
+€242,431
Depreciation
+€177,417
Stocks and contracts
-€59,737
Receivables within one year
-€144,913
Deferred charges and accrued income
+€276
Trade debts
+€159,234
Tax, wage and social debts
-€26,253
Accrued charges and deferred income
-€21,480
Investment (derived)
-€714
Investment in fixed assets (net)
-€714
Financing
-€351,998
Debts after one year
-€95,040
Current portion of long-term debt
-€6,958
Contributions, distributions and other
-€250,000
Cash 2025
€112,469
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,336,870 | €2,338,805 | +€1,935 | +0.1% |
| Fixed assets | 21/28 | €467,083 | €290,380 | -€176,703 | -37.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €467,083 | €290,380 | -€176,703 | -37.8% |
| Plant, machinery and equipment | 23 | €160,608 | €73,692 | -€86,916 | -54.1% |
| Furniture and vehicles | 24 | €44,621 | €26,798 | -€17,823 | -39.9% |
| Leasing and similar rights | 25 | €1,496 | €0 | -€1,496 | -100.0% |
| Other tangible fixed assets | 26 | €260,358 | €189,890 | -€70,468 | -27.1% |
| Current assets | 29/58 | €1,869,787 | €2,048,425 | +€178,638 | +9.6% |
| Stocks and contracts in progress | 3 | €574,424 | €634,161 | +€59,737 | +10.4% |
| Stocks | 30/36 | €574,424 | €634,161 | +€59,737 | +10.4% |
| Amounts receivable within one year | 40/41 | €1,141,431 | €1,286,344 | +€144,913 | +12.7% |
| Trade receivables | 40 | €61,382 | €166,312 | +€104,930 | +170.9% |
| Other amounts receivable | 41 | €1,080,049 | €1,120,032 | +€39,983 | +3.7% |
| Cash at bank and in hand | 54/58 | €138,206 | €112,469 | -€25,737 | -18.6% |
| Deferred charges and accrued income | 490/1 | €15,726 | €15,451 | -€276 | -1.8% |
| Total equity and liabilities | 10/49 | €2,336,870 | €2,338,805 | +€1,935 | +0.1% |
| Equity | 10/15 | €228,865 | €221,297 | -€7,569 | -3.3% |
| Contributions | 10/11 | €121,500 | €121,500 | = | 0.0% |
| Capital | 10 | €121,500 | €121,500 | = | 0.0% |
| Issued capital | 100 | €121,500 | €121,500 | = | 0.0% |
| Reserves | 13 | €58,150 | €58,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,150 | €12,150 | = | 0.0% |
| Legal reserve | 130 | €12,150 | €12,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,000 | €46,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,215 | €41,647 | -€7,569 | -15.4% |
| Amounts payable | 17/49 | €2,108,005 | €2,117,508 | +€9,503 | +0.5% |
| Amounts payable after more than one year | 17 | €241,130 | €146,090 | -€95,040 | -39.4% |
| Financial debts | 170/4 | €241,130 | €146,090 | -€95,040 | -39.4% |
| Amounts payable within one year | 42/48 | €1,795,275 | €1,921,298 | +€126,023 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €172,148 | €165,190 | -€6,958 | -4.0% |
| Trade debts | 44 | €1,453,549 | €1,612,784 | +€159,234 | +11.0% |
| Suppliers | 440/4 | €1,453,549 | €1,612,784 | +€159,234 | +11.0% |
| Taxes, remuneration and social security | 45 | €169,578 | €143,325 | -€26,253 | -15.5% |
| Taxes | 450/3 | €48,218 | €23,848 | -€24,370 | -50.5% |
| Remuneration and social security | 454/9 | €121,360 | €119,477 | -€1,883 | -1.6% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €71,600 | €50,120 | -€21,480 | -30.0% |
| Turnover | 70 | €11,316,870 | €11,280,408 | -€36,462 | -0.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €10,108,285 | €10,057,503 | -€50,782 | -0.5% |
| Remuneration, social security and pensions | 62 | €1,043,112 | €1,066,667 | +€23,555 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,569 | €177,417 | -€12,152 | -6.4% |
| Other operating charges | 640/8 | €2,598 | €2,810 | +€211 | +8.1% |
| Non-recurring operating charges | 66A | - | €123 | +€123 | |
| Gross operating margin | 9900 | €1,478,674 | €1,589,424 | +€110,750 | +7.5% |
| Operating profit (loss) | 9901 | €243,395 | €342,406 | +€99,012 | +40.7% |
| Financial income | 75/76B | €14,550 | €15,572 | +€1,022 | +7.0% |
| Recurring financial income | 75 | €14,550 | €15,572 | +€1,022 | +7.0% |
| Financial charges | 65/66B | €38,830 | €59,245 | +€20,415 | +52.6% |
| Recurring financial charges | 65 | €38,830 | €55,063 | +€16,232 | +41.8% |
| Non-recurring financial charges | 66B | - | €4,183 | +€4,183 | |
| Profit (loss) for the period before taxes | 9903 | €219,115 | €298,733 | +€79,618 | +36.3% |
| Income taxes | 67/77 | €61,762 | €56,302 | -€5,460 | -8.8% |
| Profit (loss) for the period | 9904 | €157,353 | €242,431 | +€85,078 | +54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €157,353 | €242,431 | +€85,078 | +54.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.