GEMI Construct: 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.
GEMI Construct
Largest movements
- Stocks and contracts -€467,084
down €467,084 (-68.0%), from €686,888 to €219,804
- Short-term financial debts -€486,278
no longer reported in 2025 (was €486,278)
- Profit (loss) carried forward +€17,154
up €17,154 (+21.6%), from -€79,384 to -€62,230
- Gross operating margin +€41,757
up €41,757, from -€8,834 to €32,923
- Financial charges -€16,649
down €16,649 (-52.3%), from €31,832 to €15,183
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 | €737,859 | €270,327 | -€467,532 | -63.4% |
| Current assets | 29/58 | €737,859 | €270,327 | -€467,532 | -63.4% |
| Stocks and contracts in progress | 3 | €686,888 | €219,804 | -€467,084 | -68.0% |
| Stocks | 30/36 | €686,888 | €219,804 | -€467,084 | -68.0% |
| Amounts receivable within one year | 40/41 | €50,843 | €50,448 | -€395 | -0.8% |
| Other amounts receivable | 41 | €50,843 | €50,448 | -€395 | -0.8% |
| Cash at bank and in hand | 54/58 | €129 | €75 | -€54 | -41.7% |
| Total equity and liabilities | 10/49 | €737,859 | €270,327 | -€467,532 | -63.4% |
| Equity | 10/15 | -€76,384 | -€59,230 | +€17,154 | +22.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,384 | -€62,230 | +€17,154 | +21.6% |
| Amounts payable | 17/49 | €814,243 | €329,557 | -€484,686 | -59.5% |
| Amounts payable within one year | 42/48 | €814,243 | €329,557 | -€484,686 | -59.5% |
| Financial debts | 43 | €486,278 | - | -€486,278 | |
| Credit institutions | 430/8 | €486,278 | - | -€486,278 | |
| Trade debts | 44 | €66,222 | €66,617 | +€395 | +0.6% |
| Suppliers | 440/4 | €66,222 | €66,617 | +€395 | +0.6% |
| Other amounts payable | 47/48 | €261,743 | €262,940 | +€1,197 | +0.5% |
| Other operating charges | 640/8 | €451 | €586 | +€135 | +29.9% |
| Gross operating margin | 9900 | -€8,834 | €32,923 | +€41,757 | |
| Operating profit (loss) | 9901 | -€9,286 | €32,337 | +€41,622 | |
| Financial charges | 65/66B | €31,832 | €15,183 | -€16,649 | -52.3% |
| Recurring financial charges | 65 | €31,832 | €15,183 | -€16,649 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | -€41,118 | €17,154 | +€58,271 | |
| Profit (loss) for the period | 9904 | -€41,118 | €17,154 | +€58,271 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,118 | €17,154 | +€58,271 |
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 8 October 2026 via checked.be.