GEMINE: 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.
GEMINE
Largest movements
- Receivables within one year -€8,647
down €8,647 (-24.3%), from €35,621 to €26,974
of which Trade receivables: -€10,800
- Cash -€6,195
down €6,195 (-11.1%), from €56,021 to €49,825
mainly Contributions, distributions and other (-€53,229) and Other debts (-€21,672)
- Deferred charges and accrued income -€5,434
down €5,434 (-36.1%), from €15,072 to €9,638
- Other debts -€21,672
down €21,672 (-27.0%), from €80,257 to €58,585
- Tax, wage and social debts +€3,556
up €3,556 (+16.1%), from €22,113 to €25,669
of which Remuneration and social security: +€4,560
- Trade debts -€2,493
down €2,493 (-99.5%), from €2,505 to €12
- Gross operating margin -€32,273
down €32,273 (-30.7%), from €104,993 to €72,719
- Taxes -€6,702
down €6,702 (-31.8%), from €21,078 to €14,376
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 | €107,876 | €87,278 | -€20,597 | -19.1% |
| Fixed assets | 21/28 | €1,162 | €841 | -€321 | -27.6% |
| Tangible fixed assets | 22/27 | €1,162 | €841 | -€321 | -27.6% |
| Other tangible fixed assets | 26 | €1,162 | €841 | -€321 | -27.6% |
| Current assets | 29/58 | €106,713 | €86,437 | -€20,276 | -19.0% |
| Amounts receivable within one year | 40/41 | €35,621 | €26,974 | -€8,647 | -24.3% |
| Trade receivables | 40 | €34,150 | €23,350 | -€10,800 | -31.6% |
| Other amounts receivable | 41 | €1,471 | €3,624 | +€2,153 | +146.4% |
| Cash at bank and in hand | 54/58 | €56,021 | €49,825 | -€6,195 | -11.1% |
| Deferred charges and accrued income | 490/1 | €15,072 | €9,638 | -€5,434 | -36.1% |
| Total equity and liabilities | 10/49 | €107,876 | €87,278 | -€20,597 | -19.1% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €104,876 | €84,278 | -€20,597 | -19.6% |
| Amounts payable within one year | 42/48 | €104,876 | €84,267 | -€20,609 | -19.7% |
| Trade debts | 44 | €2,505 | €12 | -€2,493 | -99.5% |
| Suppliers | 440/4 | €2,505 | €12 | -€2,493 | -99.5% |
| Taxes, remuneration and social security | 45 | €22,113 | €25,669 | +€3,556 | +16.1% |
| Taxes | 450/3 | €16,513 | €15,509 | -€1,004 | -6.1% |
| Remuneration and social security | 454/9 | €5,600 | €10,160 | +€4,560 | +81.4% |
| Other amounts payable | 47/48 | €80,257 | €58,585 | -€21,672 | -27.0% |
| Accrued charges and deferred income | 492/3 | - | €11 | +€11 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €321 | €321 | = | 0.0% |
| Other operating charges | 640/8 | €1,380 | €1,417 | +€37 | +2.7% |
| Gross operating margin | 9900 | €104,993 | €72,719 | -€32,273 | -30.7% |
| Operating profit (loss) | 9901 | €103,292 | €70,982 | -€32,310 | -31.3% |
| Financial charges | 65/66B | €3,928 | €3,376 | -€551 | -14.0% |
| Recurring financial charges | 65 | €3,928 | €3,376 | -€551 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €99,364 | €67,605 | -€31,759 | -32.0% |
| Income taxes | 67/77 | €21,078 | €14,376 | -€6,702 | -31.8% |
| Profit (loss) for the period | 9904 | €78,286 | €53,229 | -€25,057 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,286 | €53,229 | -€25,057 | -32.0% |
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 8 October 2026 via checked.be.