GembaNation: 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.
GembaNation
Largest movements
- Cash +€49,980
up €49,980 (+94.0%), from €53,167 to €103,147
mainly Net result for the year (+€45,140) and Depreciation (+€16,483)
- Tangible fixed assets -€14,703
down €14,703 (-33.5%), from €43,945 to €29,242
- Receivables within one year +€2,107
up €2,107 (+15.1%), from €13,953 to €16,059
of which Trade receivables: +€2,005
- Reserves +€43,474
up €43,474 (+112.8%), from €38,537 to €82,011
- Tax, wage and social debts +€10,758
up €10,758 (+44.0%), from €24,436 to €35,194
- Debts after one year -€10,639
down €10,639 (-85.4%), from €12,453 to €1,814
- Other debts -€4,096
down €4,096 (-21.7%), from €18,887 to €14,791
- Accrued charges and deferred income -€1,980
down €1,980 (-91.7%), from €2,160 to €180
- Gross operating margin +€8,313
up €8,313 (+12.2%), from €68,109 to €76,421
- Depreciation +€3,575
up €3,575 (+27.7%), from €12,908 to €16,483
- Taxes +€1,218
up €1,218 (+10.2%), from €11,981 to €13,199
- Other operating charges -€1,155
down €1,155 (-58.9%), from €1,962 to €807
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 | €111,217 | €148,607 | +€37,390 | +33.6% |
| Fixed assets | 21/28 | €43,945 | €29,242 | -€14,703 | -33.5% |
| Tangible fixed assets | 22/27 | €43,945 | €29,242 | -€14,703 | -33.5% |
| Furniture and vehicles | 24 | €43,945 | €29,242 | -€14,703 | -33.5% |
| Current assets | 29/58 | €67,272 | €119,365 | +€52,093 | +77.4% |
| Amounts receivable within one year | 40/41 | €13,953 | €16,059 | +€2,107 | +15.1% |
| Trade receivables | 40 | €13,953 | €15,957 | +€2,005 | +14.4% |
| Other amounts receivable | 41 | - | €102 | +€102 | |
| Cash at bank and in hand | 54/58 | €53,167 | €103,147 | +€49,980 | +94.0% |
| Deferred charges and accrued income | 490/1 | €153 | €159 | +€6 | +4.0% |
| Total equity and liabilities | 10/49 | €111,217 | €148,607 | +€37,390 | +33.6% |
| Equity | 10/15 | €40,537 | €84,011 | +€43,474 | +107.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €38,537 | €82,011 | +€43,474 | +112.8% |
| Distributable reserves | 133 | €38,537 | €82,011 | +€43,474 | +112.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,680 | €64,597 | -€6,084 | -8.6% |
| Amounts payable after more than one year | 17 | €12,453 | €1,814 | -€10,639 | -85.4% |
| Financial debts | 170/4 | €12,453 | €1,814 | -€10,639 | -85.4% |
| Amounts payable within one year | 42/48 | €56,068 | €62,602 | +€6,535 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €10,227 | €10,639 | +€412 | +4.0% |
| Trade debts | 44 | €2,518 | €1,978 | -€539 | -21.4% |
| Suppliers | 440/4 | €2,518 | €1,978 | -€539 | -21.4% |
| Taxes, remuneration and social security | 45 | €24,436 | €35,194 | +€10,758 | +44.0% |
| Taxes | 450/3 | €24,436 | €35,194 | +€10,758 | +44.0% |
| Other amounts payable | 47/48 | €18,887 | €14,791 | -€4,096 | -21.7% |
| Accrued charges and deferred income | 492/3 | €2,160 | €180 | -€1,980 | -91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,908 | €16,483 | +€3,575 | +27.7% |
| Other operating charges | 640/8 | €1,962 | €807 | -€1,155 | -58.9% |
| Gross operating margin | 9900 | €68,109 | €76,421 | +€8,313 | +12.2% |
| Operating profit (loss) | 9901 | €53,239 | €59,132 | +€5,893 | +11.1% |
| Financial income | 75/76B | €250 | €0 | -€250 | -99.8% |
| Recurring financial income | 75 | €250 | €0 | -€250 | -99.8% |
| Financial charges | 65/66B | €1,251 | €793 | -€457 | -36.6% |
| Recurring financial charges | 65 | €1,251 | €793 | -€457 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €52,238 | €58,339 | +€6,101 | +11.7% |
| Income taxes | 67/77 | €11,981 | €13,199 | +€1,218 | +10.2% |
| Profit (loss) for the period | 9904 | €40,257 | €45,140 | +€4,883 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,257 | €45,140 | +€4,883 | +12.1% |
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 7 October 2026 via checked.be.