GEMANO: what changed
Two fiscal 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.
GEMANO
Largest movements
- Cash -€15,459
down €15,459 (-33.6%), from €46,054 to €30,595
mainly Net result for the year (-€19,319) and Trade debts (-€704)
- Tangible fixed assets -€2,483
down €2,483 (-80.0%), from €3,104 to €621
- Profit (loss) carried forward -€19,319
down €19,319, from €2,004 to -€17,315
- Tax, wage and social debts +€1,919
up €1,919 (+4323.9%), from €44 to €1,964
of which Remuneration and social security: +€1,886
- Trade debts -€704
no longer reported in 2025 (was €704)
- Depreciation -€581
down €581 (-19.0%), from €3,064 to €2,483
- Other operating charges -€334
down €334 (-48.4%), from €690 to €356
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 | €63,312 | €45,209 | -€18,103 | -28.6% |
| Fixed assets | 21/28 | €3,104 | €621 | -€2,483 | -80.0% |
| Tangible fixed assets | 22/27 | €3,104 | €621 | -€2,483 | -80.0% |
| Furniture and vehicles | 24 | €3,104 | €621 | -€2,483 | -80.0% |
| Current assets | 29/58 | €60,207 | €44,588 | -€15,620 | -25.9% |
| Amounts receivable within one year | 40/41 | €14,153 | €13,993 | -€161 | -1.1% |
| Trade receivables | 40 | €3,621 | €212 | -€3,409 | -94.2% |
| Other amounts receivable | 41 | €10,532 | €13,781 | +€3,248 | +30.8% |
| Cash at bank and in hand | 54/58 | €46,054 | €30,595 | -€15,459 | -33.6% |
| Total equity and liabilities | 10/49 | €63,312 | €45,209 | -€18,103 | -28.6% |
| Equity | 10/15 | €62,564 | €43,245 | -€19,319 | -30.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €54,360 | €54,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €52,500 | €52,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,004 | -€17,315 | -€19,319 | |
| Amounts payable | 17/49 | €748 | €1,964 | +€1,216 | +162.5% |
| Amounts payable within one year | 42/48 | €748 | €1,964 | +€1,216 | +162.5% |
| Trade debts | 44 | €704 | - | -€704 | |
| Suppliers | 440/4 | €704 | - | -€704 | |
| Taxes, remuneration and social security | 45 | €44 | €1,964 | +€1,919 | +4323.9% |
| Taxes | 450/3 | €44 | €78 | +€34 | +75.5% |
| Remuneration and social security | 454/9 | - | €1,886 | +€1,886 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,064 | €2,483 | -€581 | -19.0% |
| Other operating charges | 640/8 | €690 | €356 | -€334 | -48.4% |
| Non-recurring operating charges | 66A | €75 | - | -€75 | |
| Gross operating margin | 9900 | -€16,464 | -€16,392 | +€72 | +0.4% |
| Operating profit (loss) | 9901 | -€20,294 | -€19,232 | +€1,062 | +5.2% |
| Financial income | 75/76B | - | €149 | +€149 | |
| Recurring financial income | 75 | - | €149 | +€149 | |
| Financial charges | 65/66B | €161 | €207 | +€47 | +29.0% |
| Recurring financial charges | 65 | €161 | €207 | +€47 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | -€20,454 | -€19,290 | +€1,164 | +5.7% |
| Income taxes | 67/77 | - | €28 | +€28 | |
| Profit (loss) for the period | 9904 | -€20,454 | -€19,319 | +€1,136 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,454 | -€19,319 | +€1,136 | +5.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.