GEMBALIM: 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.
GEMBALIM
Largest movements
- Receivables after one year +€400,000
new in 2025: €400,000
- Stocks and contracts -€245,579
no longer reported in 2025 (was €245,579)
- Cash +€110,132
up €110,132 (+240.1%), from €45,876 to €156,008
mainly Other debts (+€299,310) and Net result for the year (+€264,646)
- Tangible fixed assets +€88,235
up €88,235 (+235.3%), from €37,504 to €125,739
of which Land and buildings: +€122,330
- Receivables within one year +€39,850
up €39,850 (+52.6%), from €75,723 to €115,574
of which Other amounts receivable: +€21,189
- Other debts +€299,310
up €299,310 (+626.5%), from €47,771 to €347,081
- Profit (loss) carried forward +€189,646
up €189,646, from -€71,032 to €118,613
- Current portion of long-term debt -€88,940
no longer reported in 2025 (was €88,940)
- Trade debts +€36,653
up €36,653 (+30.6%), from €119,742 to €156,394
- Debts after one year -€32,645
no longer reported in 2025 (was €32,645)
- Gross operating margin +€325,692
up €325,692 (+58.8%), from €554,021 to €879,712
- Other operating charges +€319,952
up €319,952 (+5765.1%), from €5,550 to €325,501
- Staff costs -€278,354
down €278,354 (-56.7%), from €490,703 to €212,349
- Taxes +€65,425
up €65,425 (+14191.3%), from €461 to €65,886
- Financial charges -€10,603
down €10,603 (-72.2%), from €14,682 to €4,079
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 | €408,459 | €799,062 | +€390,603 | +95.6% |
| Fixed assets | 21/28 | €37,504 | €125,739 | +€88,235 | +235.3% |
| Tangible fixed assets | 22/27 | €37,504 | €125,739 | +€88,235 | +235.3% |
| Land and buildings | 22 | - | €122,330 | +€122,330 | |
| Plant, machinery and equipment | 23 | €856 | - | -€856 | |
| Furniture and vehicles | 24 | €32,611 | - | -€32,611 | |
| Other tangible fixed assets | 26 | €4,037 | €3,409 | -€628 | -15.5% |
| Current assets | 29/58 | €370,955 | €673,323 | +€302,368 | +81.5% |
| Amounts receivable after more than one year | 29 | - | €400,000 | +€400,000 | |
| Other amounts receivable | 291 | - | €400,000 | +€400,000 | |
| Stocks and contracts in progress | 3 | €245,579 | - | -€245,579 | |
| Stocks | 30/36 | €245,579 | - | -€245,579 | |
| Amounts receivable within one year | 40/41 | €75,723 | €115,574 | +€39,850 | +52.6% |
| Trade receivables | 40 | €39,312 | €57,973 | +€18,661 | +47.5% |
| Other amounts receivable | 41 | €36,412 | €57,601 | +€21,189 | +58.2% |
| Cash at bank and in hand | 54/58 | €45,876 | €156,008 | +€110,132 | +240.1% |
| Deferred charges and accrued income | 490/1 | €3,777 | €1,742 | -€2,035 | -53.9% |
| Total equity and liabilities | 10/49 | €408,459 | €799,062 | +€390,603 | +95.6% |
| Equity | 10/15 | €38,968 | €228,613 | +€189,646 | +486.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,032 | €118,613 | +€189,646 | |
| Amounts payable | 17/49 | €369,491 | €570,449 | +€200,958 | +54.4% |
| Amounts payable after more than one year | 17 | €32,645 | - | -€32,645 | |
| Financial debts | 170/4 | €32,645 | - | -€32,645 | |
| Amounts payable within one year | 42/48 | €336,846 | €570,332 | +€233,486 | +69.3% |
| Current portion of amounts payable after more than one year | 42 | €88,940 | - | -€88,940 | |
| Trade debts | 44 | €119,742 | €156,394 | +€36,653 | +30.6% |
| Suppliers | 440/4 | €119,742 | €156,394 | +€36,653 | +30.6% |
| Taxes, remuneration and social security | 45 | €80,393 | €66,857 | -€13,536 | -16.8% |
| Taxes | 450/3 | €7,164 | €66,857 | +€59,692 | +833.2% |
| Remuneration and social security | 454/9 | €73,228 | - | -€73,228 | |
| Other amounts payable | 47/48 | €47,771 | €347,081 | +€299,310 | +626.5% |
| Accrued charges and deferred income | 492/3 | - | €117 | +€117 | |
| Remuneration, social security and pensions | 62 | €490,703 | €212,349 | -€278,354 | -56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,840 | €3,544 | -€10,295 | -74.4% |
| Other operating charges | 640/8 | €5,550 | €325,501 | +€319,952 | +5765.1% |
| Non-recurring operating charges | 66A | - | €5,578 | +€5,578 | |
| Gross operating margin | 9900 | €554,021 | €879,712 | +€325,692 | +58.8% |
| Operating profit (loss) | 9901 | €43,929 | €332,740 | +€288,812 | +657.5% |
| Financial income | 75/76B | - | €1,870 | +€1,870 | |
| Recurring financial income | 75 | - | €1,870 | +€1,870 | |
| Financial charges | 65/66B | €14,682 | €4,079 | -€10,603 | -72.2% |
| Recurring financial charges | 65 | €14,682 | €4,079 | -€10,603 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €29,247 | €330,531 | +€301,284 | +1030.1% |
| Income taxes | 67/77 | €461 | €65,886 | +€65,425 | +14191.3% |
| Profit (loss) for the period | 9904 | €28,786 | €264,646 | +€235,860 | +819.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,786 | €264,646 | +€235,860 | +819.4% |
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 30 September 2026 via checked.be.