GEMA-IMMO: 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.
GEMA-IMMO
Largest movements
- Tangible fixed assets -€39,109
down €39,109 (-4.6%), from €847,755 to €808,646
of which Land and buildings: -€37,239
- Cash +€10,873
up €10,873 (+65.4%), from €16,617 to €27,490
mainly Depreciation (+€39,109) and Accrued charges and deferred income (+€4,275)
- Profit (loss) carried forward -€16,011
down €16,011 (-6.1%), from €261,514 to €245,503
- Reserves -€8,707
down €8,707 (-3.6%), from €243,661 to €234,954
of which Tax-exempt reserves: -€8,707
- Gross operating margin +€4,755
up €4,755 (+17.6%), from €27,079 to €31,834
- Financial charges +€4,327
up €4,327 (+52.4%), from €8,251 to €12,578
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 | €868,522 | €845,085 | -€23,437 | -2.7% |
| Fixed assets | 21/28 | €848,005 | €808,896 | -€39,109 | -4.6% |
| Tangible fixed assets | 22/27 | €847,755 | €808,646 | -€39,109 | -4.6% |
| Land and buildings | 22 | €837,054 | €799,815 | -€37,239 | -4.4% |
| Plant, machinery and equipment | 23 | €10,468 | €8,831 | -€1,637 | -15.6% |
| Furniture and vehicles | 24 | €233 | - | -€233 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €20,517 | €36,189 | +€15,672 | +76.4% |
| Amounts receivable within one year | 40/41 | - | €30 | +€30 | |
| Other amounts receivable | 41 | - | €30 | +€30 | |
| Cash at bank and in hand | 54/58 | €16,617 | €27,490 | +€10,873 | +65.4% |
| Deferred charges and accrued income | 490/1 | €3,900 | €8,670 | +€4,770 | +122% |
| Total equity and liabilities | 10/49 | €868,522 | €845,085 | -€23,437 | -2.7% |
| Equity | 10/15 | €574,066 | €549,347 | -€24,718 | -4.3% |
| Contributions | 10/11 | €68,891 | €68,891 | = | 0.0% |
| Capital | 10 | €68,891 | €68,891 | = | 0.0% |
| Issued capital | 100 | €68,891 | €68,891 | = | 0.0% |
| Reserves | 13 | €243,661 | €234,954 | -€8,707 | -3.6% |
| Non-distributable reserves | 130/1 | €6,889 | €6,889 | = | 0.0% |
| Legal reserve | 130 | €6,889 | €6,889 | = | 0.0% |
| Tax-exempt reserves | 132 | €236,772 | €228,064 | -€8,707 | -3.7% |
| Profit (loss) carried forward | 14 | €261,514 | €245,503 | -€16,011 | -6.1% |
| Provisions and deferred taxes | 16 | €78,924 | €76,021 | -€2,902 | -3.7% |
| Deferred taxes | 168 | €78,924 | €76,021 | -€2,902 | -3.7% |
| Amounts payable | 17/49 | €215,533 | €219,717 | +€4,184 | +1.9% |
| Amounts payable after more than one year | 17 | €125,512 | €125,512 | = | 0.0% |
| Other amounts payable | 178/9 | €125,512 | €125,512 | = | 0.0% |
| Amounts payable within one year | 42/48 | €81,800 | €81,709 | -€91 | -0.1% |
| Trade debts | 44 | - | €89 | +€89 | |
| Suppliers | 440/4 | - | €89 | +€89 | |
| Other amounts payable | 47/48 | €81,800 | €81,620 | -€180 | -0.2% |
| Accrued charges and deferred income | 492/3 | €8,220 | €12,495 | +€4,275 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,424 | €39,109 | -€315 | -0.8% |
| Other operating charges | 640/8 | €7,744 | €7,881 | +€137 | +1.8% |
| Gross operating margin | 9900 | €27,079 | €31,834 | +€4,755 | +17.6% |
| Operating profit (loss) | 9901 | -€20,090 | -€15,157 | +€4,933 | +24.6% |
| Financial income | 75/76B | - | €114 | +€114 | |
| Recurring financial income | 75 | - | €114 | +€114 | |
| Financial charges | 65/66B | €8,251 | €12,578 | +€4,327 | +52.4% |
| Recurring financial charges | 65 | €8,251 | €12,578 | +€4,327 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | -€28,340 | -€27,621 | +€720 | +2.5% |
| Transfer from deferred taxes | 780 | €2,902 | €2,902 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€25,438 | -€24,718 | +€720 | +2.8% |
| Transfer from tax-exempt reserves | 789 | €8,707 | €8,707 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,731 | -€16,011 | +€720 | +4.3% |
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 22 October 2026 via checked.be.