Gemelio: 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.
Gemelio
Largest movements
- Receivables within one year -€55,309
down €55,309 (-98.2%), from €56,309 to €1,000
of which Other amounts receivable: -€49,428
- Cash +€45,787
up €45,787 (+408.0%), from €11,221 to €57,008
mainly Receivables within one year (+€55,309) and Contributions, distributions and other (+€3,419)
- Tangible fixed assets +€9,804
new in 2025: €9,804
- Deferred charges and accrued income +€922
new in 2025: €922
- Trade debts -€7,683
down €7,683 (-19.8%), from €38,764 to €31,081
- Investment grants +€3,419
new in 2025: €3,419
- Accrued charges and deferred income +€2,416
up €2,416 (+10.7%), from €22,584 to €25,000
- Tax, wage and social debts +€1,896
up €1,896 (+378.5%), from €501 to €2,397
- Depreciation +€1,304
up €1,304 (+281.9%), from €463 to €1,767
- Other operating charges +€974
up €974 (+233.7%), from €417 to €1,390
- Gross operating margin +€477
up €477 (+16.5%), from €2,898 to €3,375
- Financial income +€363
new in 2025: €363
- Taxes -€297
down €297 (-59.3%), from €501 to €204
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 | €69,239 | €69,876 | +€637 | +0.9% |
| Formation expenses | 20 | €886 | €652 | -€234 | -26.4% |
| Fixed assets | 21/28 | €823 | €10,294 | +€9,471 | +1150.2% |
| Intangible fixed assets | 21 | €823 | €490 | -€334 | -40.5% |
| Tangible fixed assets | 22/27 | - | €9,804 | +€9,804 | |
| Furniture and vehicles | 24 | - | €9,804 | +€9,804 | |
| Current assets | 29/58 | €67,530 | €58,930 | -€8,600 | -12.7% |
| Amounts receivable within one year | 40/41 | €56,309 | €1,000 | -€55,309 | -98.2% |
| Trade receivables | 40 | €6,880 | €1,000 | -€5,880 | -85.5% |
| Other amounts receivable | 41 | €49,428 | - | -€49,428 | |
| Cash at bank and in hand | 54/58 | €11,221 | €57,008 | +€45,787 | +408.0% |
| Deferred charges and accrued income | 490/1 | - | €922 | +€922 | |
| Total equity and liabilities | 10/49 | €69,239 | €69,876 | +€637 | +0.9% |
| Equity | 10/15 | €7,387 | €11,110 | +€3,723 | +50.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,387 | €1,691 | +€304 | +21.9% |
| Investment grants | 15 | - | €3,419 | +€3,419 | |
| Amounts payable | 17/49 | €61,852 | €58,766 | -€3,086 | -5.0% |
| Amounts payable within one year | 42/48 | €39,268 | €33,766 | -€5,502 | -14.0% |
| Trade debts | 44 | €38,764 | €31,081 | -€7,683 | -19.8% |
| Suppliers | 440/4 | €38,764 | €31,081 | -€7,683 | -19.8% |
| Taxes, remuneration and social security | 45 | €501 | €2,397 | +€1,896 | +378.5% |
| Taxes | 450/3 | €501 | €2,397 | +€1,896 | +378.5% |
| Other amounts payable | 47/48 | €3 | €288 | +€285 | +9819.7% |
| Accrued charges and deferred income | 492/3 | €22,584 | €25,000 | +€2,416 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €463 | €1,767 | +€1,304 | +281.9% |
| Other operating charges | 640/8 | €417 | €1,390 | +€974 | +233.7% |
| Gross operating margin | 9900 | €2,898 | €3,375 | +€477 | +16.5% |
| Operating profit (loss) | 9901 | €2,018 | €217 | -€1,801 | -89.2% |
| Financial income | 75/76B | - | €363 | +€363 | |
| Recurring financial income | 75 | - | €363 | +€363 | |
| Financial charges | 65/66B | €130 | €72 | -€58 | -44.9% |
| Recurring financial charges | 65 | €130 | €72 | -€58 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €1,888 | €508 | -€1,380 | -73.1% |
| Income taxes | 67/77 | €501 | €204 | -€297 | -59.3% |
| Profit (loss) for the period | 9904 | €1,387 | €304 | -€1,083 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,387 | €304 | -€1,083 | -78.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.