GEMIMAR: 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.
GEMIMAR
Largest movements
- Tangible fixed assets -€22,063
down €22,063 (-2.7%), from €809,736 to €787,674
of which Land and buildings: -€19,853
- Receivables within one year +€15,728
up €15,728 (+4.1%), from €381,482 to €397,209
of which Trade receivables: +€13,415
- Other debts +€50,213
up €50,213 (+6.6%), from €760,723 to €810,936
- Profit (loss) carried forward -€41,527
no longer reported in 2025 (was €41,527)
- Gross operating margin -€13,769
down €13,769, from €2,497 to -€11,273
- Depreciation -€9,181
down €9,181 (-20.5%), from €44,709 to €35,528
- Taxes -€5,270
down €5,270 (-94.0%), from €5,608 to €338
- Financial charges -€3,467
down €3,467 (-86.6%), from €4,005 to €538
of which Financial charges: -€2,606
- Financial income +€439
up €439 (+947.9%), from €46 to €486
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 | €1,211,023 | €1,198,963 | -€12,059 | -1.0% |
| Fixed assets | 21/28 | €809,736 | €787,674 | -€22,063 | -2.7% |
| Tangible fixed assets | 22/27 | €809,736 | €787,674 | -€22,063 | -2.7% |
| Land and buildings | 22 | €790,215 | €770,362 | -€19,853 | -2.5% |
| Furniture and vehicles | 24 | €12,830 | €11,274 | -€1,557 | -12.1% |
| Other tangible fixed assets | 26 | €6,691 | €6,039 | -€653 | -9.8% |
| Current assets | 29/58 | €401,286 | €411,290 | +€10,003 | +2.5% |
| Stocks and contracts in progress | 3 | €3,306 | €1,854 | -€1,452 | -43.9% |
| Stocks | 30/36 | €3,306 | €1,854 | -€1,452 | -43.9% |
| Amounts receivable within one year | 40/41 | €381,482 | €397,209 | +€15,728 | +4.1% |
| Trade receivables | 40 | €241,861 | €255,276 | +€13,415 | +5.5% |
| Other amounts receivable | 41 | €139,620 | €141,933 | +€2,313 | +1.7% |
| Cash at bank and in hand | 54/58 | €13,846 | €8,495 | -€5,351 | -38.6% |
| Deferred charges and accrued income | 490/1 | €2,653 | €3,732 | +€1,079 | +40.7% |
| Total equity and liabilities | 10/49 | €1,211,023 | €1,198,963 | -€12,059 | -1.0% |
| Equity | 10/15 | €420,919 | €368,927 | -€51,993 | -12.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €360,393 | €349,927 | -€10,466 | -2.9% |
| Tax-exempt reserves | 132 | €21,050 | €21,050 | = | 0.0% |
| Distributable reserves | 133 | €339,343 | €328,877 | -€10,466 | -3.1% |
| Profit (loss) carried forward | 14 | €41,527 | - | -€41,527 | |
| Amounts payable | 17/49 | €790,103 | €830,037 | +€39,933 | +5.1% |
| Amounts payable after more than one year | 17 | €9,520 | - | -€9,520 | |
| Financial debts | 170/4 | €9,520 | - | -€9,520 | |
| Amounts payable within one year | 42/48 | €780,583 | €830,037 | +€49,454 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €14,277 | €9,520 | -€4,756 | -33.3% |
| Trade debts | 44 | €5,326 | €9,022 | +€3,696 | +69.4% |
| Suppliers | 440/4 | €5,326 | €9,022 | +€3,696 | +69.4% |
| Taxes, remuneration and social security | 45 | €257 | €558 | +€301 | +117.1% |
| Taxes | 450/3 | €257 | €558 | +€301 | +117.1% |
| Other amounts payable | 47/48 | €760,723 | €810,936 | +€50,213 | +6.6% |
| Non-recurring operating income | 76A | €22,264 | - | -€22,264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,709 | €35,528 | -€9,181 | -20.5% |
| Other operating charges | 640/8 | €4,826 | €4,720 | -€106 | -2.2% |
| Non-recurring operating charges | 66A | - | €82 | +€82 | |
| Gross operating margin | 9900 | €2,497 | -€11,273 | -€13,769 | |
| Operating profit (loss) | 9901 | -€47,038 | -€51,603 | -€4,565 | -9.7% |
| Financial income | 75/76B | €46 | €486 | +€439 | +947.9% |
| Recurring financial income | 75 | €46 | €486 | +€439 | +947.9% |
| Financial charges | 65/66B | €4,005 | €538 | -€3,467 | -86.6% |
| Recurring financial charges | 65 | €3,144 | €538 | -€2,606 | -82.9% |
| Non-recurring financial charges | 66B | €861 | - | -€861 | |
| Profit (loss) for the period before taxes | 9903 | -€50,997 | -€51,655 | -€658 | -1.3% |
| Income taxes | 67/77 | €5,608 | €338 | -€5,270 | -94.0% |
| Profit (loss) for the period | 9904 | -€56,605 | -€51,993 | +€4,612 | +8.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,605 | -€51,993 | +€4,612 | +8.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.