GEMELLE: 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.
GEMELLE
Largest movements
- Tangible fixed assets -€20,673
down €20,673 (-6.0%), from €341,715 to €321,042
of which Land and buildings: -€16,287
- Cash +€16,414
up €16,414 (+50.6%), from €32,439 to €48,854
mainly Depreciation (+€22,253) and Net result for the year (+€20,043)
- Debts after one year -€28,402
down €28,402 (-17.4%), from €163,313 to €134,911
- Reserves +€20,000
up €20,000 (+49.7%), from €40,230 to €60,230
- Other debts +€7,000
up €7,000 (+9.8%), from €71,274 to €78,274
- Trade debts -€4,221
no longer reported in 2025 (was €4,221)
- Gross operating margin +€5,534
up €5,534 (+10.9%), from €50,745 to €56,278
- Other operating charges +€2,626
up €2,626 (+678.1%), from €387 to €3,014
- Taxes +€1,640
up €1,640 (+21.3%), from €7,705 to €9,345
- Financial charges -€1,253
down €1,253 (-43.5%), from €2,877 to €1,625
- Depreciation -€1,014
down €1,014 (-4.4%), from €23,266 to €22,253
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 | €376,169 | €371,282 | -€4,886 | -1.3% |
| Fixed assets | 21/28 | €341,715 | €321,042 | -€20,673 | -6.0% |
| Tangible fixed assets | 22/27 | €341,715 | €321,042 | -€20,673 | -6.0% |
| Land and buildings | 22 | €317,455 | €301,168 | -€16,287 | -5.1% |
| Other tangible fixed assets | 26 | €24,260 | €19,874 | -€4,385 | -18.1% |
| Current assets | 29/58 | €34,454 | €50,240 | +€15,786 | +45.8% |
| Amounts receivable within one year | 40/41 | €2,014 | €718 | -€1,297 | -64.4% |
| Trade receivables | 40 | €207 | - | -€207 | |
| Other amounts receivable | 41 | €1,807 | €718 | -€1,089 | -60.3% |
| Cash at bank and in hand | 54/58 | €32,439 | €48,854 | +€16,414 | +50.6% |
| Deferred charges and accrued income | 490/1 | - | €668 | +€668 | |
| Total equity and liabilities | 10/49 | €376,169 | €371,282 | -€4,886 | -1.3% |
| Equity | 10/15 | €107,308 | €127,350 | +€20,043 | +18.7% |
| Contributions | 10/11 | €67,000 | €67,000 | = | 0.0% |
| Reserves | 13 | €40,230 | €60,230 | +€20,000 | +49.7% |
| Distributable reserves | 133 | €40,230 | €60,230 | +€20,000 | +49.7% |
| Profit (loss) carried forward | 14 | €78 | €121 | +€43 | +54.6% |
| Amounts payable | 17/49 | €268,861 | €243,932 | -€24,929 | -9.3% |
| Amounts payable after more than one year | 17 | €163,313 | €134,911 | -€28,402 | -17.4% |
| Financial debts | 170/4 | €163,313 | €134,911 | -€28,402 | -17.4% |
| Amounts payable within one year | 42/48 | €105,548 | €109,021 | +€3,474 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €28,402 | €28,402 | = | 0.0% |
| Trade debts | 44 | €4,221 | - | -€4,221 | |
| Suppliers | 440/4 | €4,221 | - | -€4,221 | |
| Taxes, remuneration and social security | 45 | €1,651 | €2,345 | +€694 | +42.0% |
| Taxes | 450/3 | €1,651 | €2,345 | +€694 | +42.0% |
| Other amounts payable | 47/48 | €71,274 | €78,274 | +€7,000 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,266 | €22,253 | -€1,014 | -4.4% |
| Other operating charges | 640/8 | €387 | €3,014 | +€2,626 | +678.1% |
| Gross operating margin | 9900 | €50,745 | €56,278 | +€5,534 | +10.9% |
| Operating profit (loss) | 9901 | €27,091 | €31,012 | +€3,921 | +14.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,877 | €1,625 | -€1,253 | -43.5% |
| Recurring financial charges | 65 | €2,877 | €1,625 | -€1,253 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €24,214 | €29,388 | +€5,173 | +21.4% |
| Income taxes | 67/77 | €7,705 | €9,345 | +€1,640 | +21.3% |
| Profit (loss) for the period | 9904 | €16,510 | €20,043 | +€3,533 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,510 | €20,043 | +€3,533 | +21.4% |
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 5 October 2026 via checked.be.