Gemco: 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.
Gemco
Largest movements
- Receivables within one year -€29,776
down €29,776 (-33.9%), from €87,853 to €58,077
of which Other amounts receivable: -€22,354
- Cash -€5,756
down €5,756 (-12.4%), from €46,404 to €40,648
mainly Advances received (-€25,187) and Investment in fixed assets (net) (-€11,582)
- Tangible fixed assets +€5,363
up €5,363 (+47.4%), from €11,318 to €16,682
of which Plant, machinery and equipment: +€6,959
- Advances received -€25,187
down €25,187 (-68.4%), from €36,848 to €11,661
- Reserves -€9,918
down €9,918 (-16.7%), from €59,239 to €49,321
of which Distributable reserves: -€9,918
- Accrued charges and deferred income +€9,434
new in 2025: €9,434
- Trade debts -€6,116
down €6,116 (-22.2%), from €27,560 to €21,445
- Tax, wage and social debts +€3,268
up €3,268 (+158.0%), from €2,068 to €5,335
of which Taxes: +€4,098
- Financial income -€1,497
down €1,497 (-79.5%), from €1,883 to €385
- Financial charges +€1,151
up €1,151 (+92.2%), from €1,249 to €2,400
- Other operating charges -€502
down €502 (-100.0%), from €502 to €0
- Taxes +€410
up €410 (+33.1%), from €1,238 to €1,647
- Depreciation +€378
up €378 (+6.5%), from €5,841 to €6,219
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 | €147,196 | €117,028 | -€30,169 | -20.5% |
| Fixed assets | 21/28 | €12,939 | €18,303 | +€5,363 | +41.4% |
| Tangible fixed assets | 22/27 | €11,318 | €16,682 | +€5,363 | +47.4% |
| Land and buildings | 22 | €1,281 | €1,036 | -€245 | -19.1% |
| Plant, machinery and equipment | 23 | €5,448 | €12,406 | +€6,959 | +127.7% |
| Furniture and vehicles | 24 | €4,590 | €3,240 | -€1,350 | -29.4% |
| Financial fixed assets | 28 | €1,621 | €1,621 | = | 0.0% |
| Current assets | 29/58 | €134,257 | €98,725 | -€35,532 | -26.5% |
| Amounts receivable within one year | 40/41 | €87,853 | €58,077 | -€29,776 | -33.9% |
| Trade receivables | 40 | €63,682 | €56,261 | -€7,421 | -11.7% |
| Other amounts receivable | 41 | €24,171 | €1,816 | -€22,354 | -92.5% |
| Cash at bank and in hand | 54/58 | €46,404 | €40,648 | -€5,756 | -12.4% |
| Total equity and liabilities | 10/49 | €147,196 | €117,028 | -€30,169 | -20.5% |
| Equity | 10/15 | €79,070 | €69,152 | -€9,918 | -12.5% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €59,239 | €49,321 | -€9,918 | -16.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €59,239 | €49,321 | -€9,918 | -16.7% |
| Amounts payable | 17/49 | €68,126 | €47,875 | -€20,251 | -29.7% |
| Amounts payable within one year | 42/48 | €68,126 | €38,441 | -€29,685 | -43.6% |
| Trade debts | 44 | €27,560 | €21,445 | -€6,116 | -22.2% |
| Suppliers | 440/4 | €27,560 | €21,445 | -€6,116 | -22.2% |
| Advances received on contracts in progress | 46 | €36,848 | €11,661 | -€25,187 | -68.4% |
| Taxes, remuneration and social security | 45 | €2,068 | €5,335 | +€3,268 | +158.0% |
| Taxes | 450/3 | €1,238 | €5,335 | +€4,098 | +331.1% |
| Remuneration and social security | 454/9 | €830 | - | -€830 | |
| Other amounts payable | 47/48 | €1,650 | €0 | -€1,650 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €9,434 | +€9,434 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,841 | €6,219 | +€378 | +6.5% |
| Other operating charges | 640/8 | €502 | €0 | -€502 | -100.0% |
| Gross operating margin | 9900 | -€36 | -€37 | -€1 | -2.5% |
| Operating profit (loss) | 9901 | -€6,379 | -€6,256 | +€123 | +1.9% |
| Financial income | 75/76B | €1,883 | €385 | -€1,497 | -79.5% |
| Recurring financial income | 75 | €1,883 | €385 | -€1,497 | -79.5% |
| Financial charges | 65/66B | €1,249 | €2,400 | +€1,151 | +92.2% |
| Recurring financial charges | 65 | €1,249 | €2,400 | +€1,151 | +92.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,745 | -€8,271 | -€2,525 | -44.0% |
| Income taxes | 67/77 | €1,238 | €1,647 | +€410 | +33.1% |
| Profit (loss) for the period | 9904 | -€6,983 | -€9,918 | -€2,935 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,983 | -€9,918 | -€2,935 | -42.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.