GEMATH: 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.
GEMATH
Largest movements
- Tangible fixed assets -€19,225
down €19,225 (-10.7%), from €179,134 to €159,909
of which Land and buildings: -€12,437
- Cash +€2,264
up €2,264 (+11.8%), from €19,248 to €21,512
mainly Depreciation (+€20,972) and Other debts (+€8,624)
- Debts after one year -€22,041
down €22,041 (-19.7%), from €111,760 to €89,719
of which Financial debts: -€22,041
- Other debts +€8,624
up €8,624 (+56.6%), from €15,235 to €23,859
- Trade debts -€5,071
down €5,071 (-83.2%), from €6,097 to €1,026
- Gross operating margin -€959
down €959 (-3.1%), from €30,808 to €29,848
- Financial charges -€712
down €712 (-12.4%), from €5,754 to €5,041
- Depreciation +€427
up €427 (+2.1%), from €20,546 to €20,972
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 | €206,036 | €189,353 | -€16,683 | -8.1% |
| Fixed assets | 21/28 | €179,134 | €159,909 | -€19,225 | -10.7% |
| Tangible fixed assets | 22/27 | €179,134 | €159,909 | -€19,225 | -10.7% |
| Land and buildings | 22 | €123,096 | €110,660 | -€12,437 | -10.1% |
| Plant, machinery and equipment | 23 | €55,351 | €48,685 | -€6,665 | -12.0% |
| Furniture and vehicles | 24 | €687 | €564 | -€123 | -17.9% |
| Current assets | 29/58 | €26,902 | €29,444 | +€2,542 | +9.4% |
| Stocks and contracts in progress | 3 | €4,740 | €5,060 | +€320 | +6.8% |
| Stocks | 30/36 | €4,740 | €5,060 | +€320 | +6.8% |
| Amounts receivable within one year | 40/41 | €2,914 | €2,872 | -€42 | -1.4% |
| Other amounts receivable | 41 | €2,914 | €2,872 | -€42 | -1.4% |
| Cash at bank and in hand | 54/58 | €19,248 | €21,512 | +€2,264 | +11.8% |
| Total equity and liabilities | 10/49 | €206,036 | €189,353 | -€16,683 | -8.1% |
| Equity | 10/15 | €51,395 | €52,451 | +€1,056 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,751 | €38,751 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €36,891 | €36,891 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,956 | -€4,901 | +€1,056 | +17.7% |
| Amounts payable | 17/49 | €154,641 | €136,902 | -€17,739 | -11.5% |
| Amounts payable after more than one year | 17 | €111,760 | €89,719 | -€22,041 | -19.7% |
| Financial debts | 170/4 | €101,760 | €79,719 | -€22,041 | -21.7% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €42,881 | €47,184 | +€4,302 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €21,148 | €22,041 | +€893 | +4.2% |
| Financial debts | 43 | €250 | €250 | = | 0.0% |
| Credit institutions | 430/8 | €250 | €250 | = | 0.0% |
| Trade debts | 44 | €6,097 | €1,026 | -€5,071 | -83.2% |
| Suppliers | 440/4 | €6,097 | €1,026 | -€5,071 | -83.2% |
| Taxes, remuneration and social security | 45 | €151 | €8 | -€143 | -94.6% |
| Taxes | 450/3 | €151 | €8 | -€143 | -94.6% |
| Other amounts payable | 47/48 | €15,235 | €23,859 | +€8,624 | +56.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,546 | €20,972 | +€427 | +2.1% |
| Other operating charges | 640/8 | €2,712 | €2,652 | -€60 | -2.2% |
| Gross operating margin | 9900 | €30,808 | €29,848 | -€959 | -3.1% |
| Operating profit (loss) | 9901 | €7,550 | €6,224 | -€1,326 | -17.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,754 | €5,041 | -€712 | -12.4% |
| Recurring financial charges | 65 | €5,754 | €5,041 | -€712 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €1,796 | €1,184 | -€612 | -34.1% |
| Income taxes | 67/77 | €126 | €128 | +€2 | +1.9% |
| Profit (loss) for the period | 9904 | €1,670 | €1,056 | -€615 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,670 | €1,056 | -€615 | -36.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.