GEMIMO: 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.
What changed
GEMIMO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€278,941
2024 · €275,487+€3,454
Equity
€2.6m
2024 · €2.6m-€13,618
Cash
€111,613
2024 · €76,508+€35,105
Balance sheet total
€8.7m
2024 · €9.8m-€1.1m
Largest movements
Assets
- Receivables within one year -€683,544
down €683,544 (-12.8%), from €5.4m to €4.7m
of which Other amounts receivable: -€391,667
- Tangible fixed assets -€425,721
down €425,721 (-9.7%), from €4.4m to €3.9m
Equity and liabilities
- Debts after one year -€701,432
down €701,432 (-12.6%), from €5.6m to €4.9m
- Trade debts -€282,157
down €282,157 (-80.2%), from €351,919 to €69,762
Income statement
- Financial charges -€52,122
down €52,122 (-23.8%), from €218,730 to €166,608
- Financial income -€51,012
down €51,012 (-18.0%), from €284,093 to €233,081
of which Financial income: -€71,806
- Taxes -€29,704
down €29,704 (-22.9%), from €129,903 to €100,199
- Depreciation -€16,175
down €16,175 (-6.2%), from €262,508 to €246,333
- Gross operating margin -€9,192
down €9,192 (-1.5%), from €611,577 to €602,385
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.
Result 2024
€275,487
Gross operating margin
-€9,192
Depreciation
+€16,175
Other operating charges
-€585
Other operating items
-€3,526
Financial income
-€51,012
Financial charges
+€52,122
Taxes
+€29,704
Deferred taxes and other
-€30,230
Result 2025
€278,941
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.
From operations
+€871,784
Investment
+€179,388
Financing
-€1.0m
Cash 2024
€76,508
From operations (derived)
+€871,784
Net result for the year
+€278,941
Depreciation
+€246,333
Receivables within one year
+€683,544
Provisions
-€4,540
Trade debts
-€282,157
Tax, wage and social debts
+€25,379
Advances received
+€13,437
Other debts
-€87,237
Accrued charges and deferred income
-€1,917
Investment (derived)
+€179,388
Investment in fixed assets (net)
+€179,388
Financing
-€1.0m
Debts after one year
-€701,432
Current portion of long-term debt
-€22,076
Contributions, distributions and other
-€292,559
Cash 2025
€111,613
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,802,511 | €8,728,351 | -€1.1m | -11.0% |
| Fixed assets | 21/28 | €4,371,137 | €3,945,416 | -€425,721 | -9.7% |
| Tangible fixed assets | 22/27 | €4,371,137 | €3,945,416 | -€425,721 | -9.7% |
| Land and buildings | 22 | €4,371,137 | €3,945,416 | -€425,721 | -9.7% |
| Current assets | 29/58 | €5,431,374 | €4,782,935 | -€648,439 | -11.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €5,354,866 | €4,671,322 | -€683,544 | -12.8% |
| Trade receivables | 40 | €293,120 | €1,243 | -€291,877 | -99.6% |
| Other amounts receivable | 41 | €5,061,746 | €4,670,079 | -€391,667 | -7.7% |
| Cash at bank and in hand | 54/58 | €76,508 | €111,613 | +€35,105 | +45.9% |
| Total equity and liabilities | 10/49 | €9,802,511 | €8,728,351 | -€1.1m | -11.0% |
| Equity | 10/15 | €2,594,844 | €2,581,226 | -€13,618 | -0.5% |
| Contributions | 10/11 | €1,074,928 | €1,074,928 | = | 0.0% |
| Capital | 10 | €1,074,591 | €1,074,591 | = | 0.0% |
| Issued capital | 100 | €1,074,591 | €1,074,591 | = | 0.0% |
| Outside capital | 11 | €337 | €337 | = | 0.0% |
| Share premium | 1100/10 | €337 | €337 | = | 0.0% |
| Reserves | 13 | €1,410,939 | €1,397,321 | -€13,618 | -1.0% |
| Non-distributable reserves | 130/1 | €107,459 | €107,459 | = | 0.0% |
| Legal reserve | 130 | €107,459 | €107,459 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,303,480 | €1,289,862 | -€13,618 | -1.0% |
| Profit (loss) carried forward | 14 | €108,976 | €108,976 | +€1 | 0.0% |
| Provisions and deferred taxes | 16 | €434,493 | €429,954 | -€4,540 | -1.0% |
| Deferred taxes | 168 | €434,493 | €429,954 | -€4,540 | -1.0% |
| Amounts payable | 17/49 | €6,773,174 | €5,717,171 | -€1.1m | -15.6% |
| Amounts payable after more than one year | 17 | €5,587,705 | €4,886,273 | -€701,432 | -12.6% |
| Financial debts | 170/4 | €5,587,705 | €4,886,273 | -€701,432 | -12.6% |
| Amounts payable within one year | 42/48 | €1,179,614 | €826,960 | -€352,654 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €421,801 | €399,725 | -€22,076 | -5.2% |
| Trade debts | 44 | €351,919 | €69,762 | -€282,157 | -80.2% |
| Suppliers | 440/4 | €351,919 | €69,762 | -€282,157 | -80.2% |
| Advances received on contracts in progress | 46 | €6,128 | €19,565 | +€13,437 | +219.3% |
| Taxes, remuneration and social security | 45 | €19,970 | €45,349 | +€25,379 | +127.1% |
| Taxes | 450/3 | €19,970 | €45,349 | +€25,379 | +127.1% |
| Other amounts payable | 47/48 | €379,796 | €292,559 | -€87,237 | -23.0% |
| Accrued charges and deferred income | 492/3 | €5,855 | €3,938 | -€1,917 | -32.7% |
| Non-recurring operating income | 76A | €52,979 | €129,648 | +€76,669 | +144.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262,508 | €246,333 | -€16,175 | -6.2% |
| Other operating charges | 640/8 | €43,813 | €44,398 | +€585 | +1.3% |
| Non-recurring operating charges | 66A | - | €3,526 | +€3,526 | |
| Gross operating margin | 9900 | €611,577 | €602,385 | -€9,192 | -1.5% |
| Operating profit (loss) | 9901 | €305,256 | €308,127 | +€2,871 | +0.9% |
| Financial income | 75/76B | €284,093 | €233,081 | -€51,012 | -18.0% |
| Recurring financial income | 75 | €284,093 | €212,288 | -€71,806 | -25.3% |
| Non-recurring financial income | 76B | - | €20,794 | +€20,794 | |
| Financial charges | 65/66B | €218,730 | €166,608 | -€52,122 | -23.8% |
| Recurring financial charges | 65 | €218,730 | €166,608 | -€52,122 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €370,620 | €374,601 | +€3,981 | +1.1% |
| Transfer from deferred taxes | 780 | €34,770 | €34,047 | -€722 | -2.1% |
| Transfer to deferred taxes | 680 | - | €29,508 | +€29,508 | |
| Income taxes | 67/77 | €129,903 | €100,199 | -€29,704 | -22.9% |
| Profit (loss) for the period | 9904 | €275,487 | €278,941 | +€3,454 | +1.3% |
| Transfer from tax-exempt reserves | 789 | €104,310 | €102,142 | -€2,167 | -2.1% |
| Transfer to tax-exempt reserves | 689 | - | €88,524 | +€88,524 | |
| Profit (loss) for the period to be appropriated | 9905 | €379,797 | €292,560 | -€87,237 | -23.0% |
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 4 October 2026 via checked.be.