GEMAP: 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.
GEMAP
Largest movements
- Receivables within one year -€57,588
down €57,588 (-32.4%), from €177,999 to €120,411
of which Trade receivables: -€53,120
- Tangible fixed assets -€5,859
down €5,859 (-23.4%), from €24,988 to €19,129
of which Furniture and vehicles: -€5,301
- Cash -€4,518
down €4,518 (-90.4%), from €5,000 to €481
mainly Accrued charges and deferred income (-€40,000) and Current portion of long-term debt (-€29,140)
- Accrued charges and deferred income -€40,000
no longer reported in 2025 (was €40,000)
- Current portion of long-term debt -€29,140
no longer reported in 2025 (was €29,140)
- Profit (loss) carried forward +€11,131
up €11,131 (+13.4%), from -€83,012 to -€71,880
- Other debts -€10,773
down €10,773 (-6.8%), from €157,338 to €146,565
- Tax, wage and social debts +€5,256
up €5,256 (+6545.2%), from €80 to €5,336
- Gross operating margin -€84,307
down €84,307 (-94.8%), from €88,953 to €4,646
- Taxes -€24,893
down €24,893 (-83.0%), from €30,000 to €5,107
- Financial charges -€1,346
down €1,346 (-71.8%), from €1,876 to €530
- Depreciation +€1,022
up €1,022 (+17.7%), from €5,761 to €6,783
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 | €262,986 | €195,021 | -€67,966 | -25.8% |
| Fixed assets | 21/28 | €79,988 | €74,129 | -€5,859 | -7.3% |
| Tangible fixed assets | 22/27 | €24,988 | €19,129 | -€5,859 | -23.4% |
| Land and buildings | 22 | €12,055 | €11,497 | -€557 | -4.6% |
| Furniture and vehicles | 24 | €12,933 | €7,631 | -€5,301 | -41.0% |
| Financial fixed assets | 28 | €55,000 | €55,000 | = | 0.0% |
| Current assets | 29/58 | €182,999 | €120,892 | -€62,107 | -33.9% |
| Amounts receivable within one year | 40/41 | €177,999 | €120,411 | -€57,588 | -32.4% |
| Trade receivables | 40 | €139,268 | €86,148 | -€53,120 | -38.1% |
| Other amounts receivable | 41 | €38,731 | €34,263 | -€4,468 | -11.5% |
| Cash at bank and in hand | 54/58 | €5,000 | €481 | -€4,518 | -90.4% |
| Total equity and liabilities | 10/49 | €262,986 | €195,021 | -€67,966 | -25.8% |
| Equity | 10/15 | -€74,012 | -€62,880 | +€11,131 | +15.0% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,012 | -€71,880 | +€11,131 | +13.4% |
| Amounts payable | 17/49 | €336,998 | €257,901 | -€79,097 | -23.5% |
| Amounts payable after more than one year | 17 | €106,000 | €106,000 | = | 0.0% |
| Other amounts payable | 178/9 | €106,000 | €106,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,998 | €151,901 | -€39,097 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €29,140 | - | -€29,140 | |
| Trade debts | 44 | €4,439 | - | -€4,439 | |
| Suppliers | 440/4 | €4,439 | - | -€4,439 | |
| Taxes, remuneration and social security | 45 | €80 | €5,336 | +€5,256 | +6545.2% |
| Taxes | 450/3 | €80 | €5,336 | +€5,256 | +6545.2% |
| Other amounts payable | 47/48 | €157,338 | €146,565 | -€10,773 | -6.8% |
| Accrued charges and deferred income | 492/3 | €40,000 | - | -€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,761 | €6,783 | +€1,022 | +17.7% |
| Other operating charges | 640/8 | €874 | €1,095 | +€221 | +25.3% |
| Gross operating margin | 9900 | €88,953 | €4,646 | -€84,307 | -94.8% |
| Operating profit (loss) | 9901 | €82,318 | -€3,232 | -€85,550 | |
| Financial income | 75/76B | €20,000 | €20,000 | = | 0.0% |
| Recurring financial income | 75 | €20,000 | €20,000 | = | 0.0% |
| Financial charges | 65/66B | €1,876 | €530 | -€1,346 | -71.8% |
| Recurring financial charges | 65 | €1,876 | €530 | -€1,346 | -71.8% |
| Profit (loss) for the period before taxes | 9903 | €100,441 | €16,238 | -€84,203 | -83.8% |
| Income taxes | 67/77 | €30,000 | €5,107 | -€24,893 | -83.0% |
| Profit (loss) for the period | 9904 | €70,441 | €11,131 | -€59,310 | -84.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,441 | €11,131 | -€59,310 | -84.2% |
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 28 September 2026 via checked.be.