GEMIFLOR: 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.
GEMIFLOR
Largest movements
- Tangible fixed assets +€365,715
up €365,715 (+87.9%), from €415,997 to €781,711
of which Land and buildings: +€418,779
- Cash -€110,892
down €110,892 (-34.8%), from €318,887 to €207,995
mainly Investment in fixed assets (net) (-€506,908) and Contributions, distributions and other (-€124,720)
- Stocks and contracts +€43,200
new in 2025: €43,200
- Receivables within one year -€18,939
down €18,939 (-12.8%), from €148,502 to €129,563
of which Trade receivables: -€27,355
- Debts after one year +€338,526
up €338,526 (+317.3%), from €106,706 to €445,232
- Contributions -€100,000
down €100,000 (-26.7%), from €375,000 to €275,000
- Reserves +€35,058
up €35,058 (+13.6%), from €258,288 to €293,347
- Other debts +€25,829
up €25,829 (+36.1%), from €71,639 to €97,468
- Trade debts -€18,394
down €18,394 (-71.0%), from €25,921 to €7,528
- Depreciation +€39,510
up €39,510 (+38.9%), from €101,683 to €141,194
- Taxes -€17,497
down €17,497 (-57.6%), from €30,384 to €12,886
- Gross operating margin -€13,241
down €13,241 (-4.9%), from €270,561 to €257,319
- Other operating charges +€5,293
up €5,293 (+25.8%), from €20,542 to €25,835
- Financial charges +€3,163
up €3,163 (+18.8%), from €16,826 to €19,989
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 | €923,027 | €1,210,366 | +€287,339 | +31.1% |
| Fixed assets | 21/28 | €416,267 | €781,981 | +€365,715 | +87.9% |
| Tangible fixed assets | 22/27 | €415,997 | €781,711 | +€365,715 | +87.9% |
| Land and buildings | 22 | €299,391 | €718,170 | +€418,779 | +139.9% |
| Plant, machinery and equipment | 23 | €36,412 | €29,576 | -€6,836 | -18.8% |
| Furniture and vehicles | 24 | €80,194 | €33,965 | -€46,228 | -57.6% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €506,761 | €428,385 | -€78,376 | -15.5% |
| Stocks and contracts in progress | 3 | - | €43,200 | +€43,200 | |
| Stocks | 30/36 | - | €43,200 | +€43,200 | |
| Amounts receivable within one year | 40/41 | €148,502 | €129,563 | -€18,939 | -12.8% |
| Trade receivables | 40 | €137,342 | €109,987 | -€27,355 | -19.9% |
| Other amounts receivable | 41 | €11,161 | €19,577 | +€8,416 | +75.4% |
| Cash at bank and in hand | 54/58 | €318,887 | €207,995 | -€110,892 | -34.8% |
| Deferred charges and accrued income | 490/1 | €39,372 | €47,626 | +€8,255 | +21.0% |
| Total equity and liabilities | 10/49 | €923,027 | €1,210,366 | +€287,339 | +31.1% |
| Equity | 10/15 | €634,484 | €568,793 | -€65,692 | -10.4% |
| Contributions | 10/11 | €375,000 | €275,000 | -€100,000 | -26.7% |
| Reserves | 13 | €258,288 | €293,347 | +€35,058 | +13.6% |
| Distributable reserves | 133 | €258,288 | €293,347 | +€35,058 | +13.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €1,196 | €446 | -€750 | -62.7% |
| Amounts payable | 17/49 | €288,543 | €641,573 | +€353,030 | +122.3% |
| Amounts payable after more than one year | 17 | €106,706 | €445,232 | +€338,526 | +317.3% |
| Financial debts | 170/4 | €106,706 | €445,232 | +€338,526 | +317.3% |
| Amounts payable within one year | 42/48 | €174,782 | €189,267 | +€14,485 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €57,256 | €65,862 | +€8,606 | +15.0% |
| Trade debts | 44 | €25,921 | €7,528 | -€18,394 | -71.0% |
| Suppliers | 440/4 | €25,921 | €7,528 | -€18,394 | -71.0% |
| Taxes, remuneration and social security | 45 | €19,966 | €18,410 | -€1,556 | -7.8% |
| Taxes | 450/3 | €19,966 | €18,410 | -€1,556 | -7.8% |
| Other amounts payable | 47/48 | €71,639 | €97,468 | +€25,829 | +36.1% |
| Accrued charges and deferred income | 492/3 | €7,055 | €7,074 | +€19 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,683 | €141,194 | +€39,510 | +38.9% |
| Other operating charges | 640/8 | €20,542 | €25,835 | +€5,293 | +25.8% |
| Gross operating margin | 9900 | €270,561 | €257,319 | -€13,241 | -4.9% |
| Operating profit (loss) | 9901 | €148,336 | €90,291 | -€58,045 | -39.1% |
| Financial income | 75/76B | €1,643 | €1,613 | -€29 | -1.8% |
| Recurring financial income | 75 | €1,643 | €1,613 | -€29 | -1.8% |
| Financial charges | 65/66B | €16,826 | €19,989 | +€3,163 | +18.8% |
| Recurring financial charges | 65 | €16,826 | €19,989 | +€3,163 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €133,152 | €71,915 | -€61,237 | -46.0% |
| Income taxes | 67/77 | €30,384 | €12,886 | -€17,497 | -57.6% |
| Profit (loss) for the period | 9904 | €102,768 | €59,028 | -€43,740 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €102,768 | €59,028 | -€43,740 | -42.6% |
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 11 October 2026 via checked.be.