Gemex Publishing: what changed
Two financial 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.
Gemex Publishing
Largest movements
- Receivables within one year -€30,627
down €30,627 (-25.7%), from €119,124 to €88,497
of which Trade receivables: -€26,326
- Deferred charges and accrued income -€23,994
down €23,994 (-74.1%), from €32,368 to €8,374
- Tangible fixed assets -€15,541
down €15,541 (-23.0%), from €67,514 to €51,973
of which Plant, machinery and equipment: -€14,949
- Cash +€3,274
up €3,274 (+211.7%), from €1,546 to €4,821
mainly Other debts (+€32,500) and Receivables within one year (+€30,627)
- Profit (loss) carried forward -€98,801
down €98,801 (-198.4%), from -€49,811 to -€148,612
- Other debts +€32,500
up €32,500, from €0 to €32,500
- Current portion of long-term debt -€9,131
down €9,131 (-100.0%), from €9,131 to €0
- Short-term financial debts +€8,338
up €8,338 (+25.5%), from €32,642 to €40,980
- Tax, wage and social debts +€8,255
up €8,255 (+60.8%), from €13,586 to €21,841
of which Remuneration and social security: +€9,545
- Gross operating margin -€208,079
down €208,079, from €202,965 to -€5,114
- Staff costs -€67,906
down €67,906 (-49.2%), from €138,151 to €70,245
- Financial charges -€6,109
down €6,109 (-51.2%), from €11,934 to €5,825
- Write-downs +€3,900
up €3,900, from -€3,900 to €0
- Other operating charges -€3,545
down €3,545 (-74.3%), from €4,774 to €1,229
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 | €220,552 | €153,663 | -€66,889 | -30.3% |
| Fixed assets | 21/28 | €67,514 | €51,973 | -€15,541 | -23.0% |
| Tangible fixed assets | 22/27 | €67,514 | €51,973 | -€15,541 | -23.0% |
| Plant, machinery and equipment | 23 | €65,187 | €50,238 | -€14,949 | -22.9% |
| Furniture and vehicles | 24 | €2,327 | €1,735 | -€592 | -25.5% |
| Current assets | 29/58 | €153,038 | €101,691 | -€51,347 | -33.6% |
| Amounts receivable within one year | 40/41 | €119,124 | €88,497 | -€30,627 | -25.7% |
| Trade receivables | 40 | €94,019 | €67,694 | -€26,326 | -28.0% |
| Other amounts receivable | 41 | €25,104 | €20,803 | -€4,301 | -17.1% |
| Cash at bank and in hand | 54/58 | €1,546 | €4,821 | +€3,274 | +211.7% |
| Deferred charges and accrued income | 490/1 | €32,368 | €8,374 | -€23,994 | -74.1% |
| Total equity and liabilities | 10/49 | €220,552 | €153,663 | -€66,889 | -30.3% |
| Equity | 10/15 | €121,730 | €22,929 | -€98,801 | -81.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €152,949 | €152,949 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €151,090 | €151,090 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,811 | -€148,612 | -€98,801 | -198.4% |
| Amounts payable | 17/49 | €98,822 | €130,734 | +€31,912 | +32.3% |
| Amounts payable after more than one year | 17 | €7,500 | €0 | -€7,500 | -100.0% |
| Financial debts | 170/4 | €7,500 | €0 | -€7,500 | -100.0% |
| Amounts payable within one year | 42/48 | €91,322 | €130,734 | +€39,412 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €9,131 | €0 | -€9,131 | -100.0% |
| Financial debts | 43 | €32,642 | €40,980 | +€8,338 | +25.5% |
| Credit institutions | 430/8 | €32,642 | €40,980 | +€8,338 | +25.5% |
| Trade debts | 44 | €35,963 | €35,413 | -€550 | -1.5% |
| Suppliers | 440/4 | €35,963 | €35,413 | -€550 | -1.5% |
| Taxes, remuneration and social security | 45 | €13,586 | €21,841 | +€8,255 | +60.8% |
| Taxes | 450/3 | €3,173 | €1,883 | -€1,290 | -40.7% |
| Remuneration and social security | 454/9 | €10,413 | €19,958 | +€9,545 | +91.7% |
| Other amounts payable | 47/48 | €0 | €32,500 | +€32,500 | |
| Non-recurring operating income | 76A | €99,389 | €72,000 | -€27,389 | -27.6% |
| Remuneration, social security and pensions | 62 | €138,151 | €70,245 | -€67,906 | -49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,585 | €15,541 | -€1,043 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,900 | €0 | +€3,900 | |
| Other operating charges | 640/8 | €4,774 | €1,229 | -€3,545 | -74.3% |
| Non-recurring operating charges | 66A | €44,767 | €1,034 | -€43,733 | -97.7% |
| Gross operating margin | 9900 | €202,965 | -€5,114 | -€208,079 | |
| Operating profit (loss) | 9901 | €2,589 | -€93,162 | -€95,751 | |
| Financial income | 75/76B | €920 | €852 | -€68 | -7.4% |
| Recurring financial income | 75 | €920 | €852 | -€68 | -7.4% |
| Financial charges | 65/66B | €11,934 | €5,825 | -€6,109 | -51.2% |
| Recurring financial charges | 65 | €11,934 | €5,825 | -€6,109 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,425 | -€98,136 | -€89,711 | -1064.8% |
| Income taxes | 67/77 | €1,218 | €665 | -€553 | -45.4% |
| Profit (loss) for the period | 9904 | -€9,643 | -€98,801 | -€89,158 | -924.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,643 | -€98,801 | -€89,158 | -924.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.