GEMIVER: 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.
GEMIVER
Largest movements
- Stocks and contracts +€9,100
up €9,100 (+14.0%), from €64,903 to €74,003
- Tangible fixed assets -€7,362
down €7,362 (-33.9%), from €21,701 to €14,340
of which Land and buildings: -€3,781
- Cash +€2,637
up €2,637 (+122%), from €2,159 to €4,796
mainly Depreciation (+€7,774) and Net result for the year (+€3,954)
- Debts after one year -€4,215
down €4,215 (-30.4%), from €13,872 to €9,658
- Profit (loss) carried forward +€3,954
up €3,954 (+79.9%), from €4,951 to €8,905
- Other debts +€3,035
up €3,035 (+9.5%), from €32,065 to €35,099
- Current portion of long-term debt -€1,409
down €1,409 (-22.3%), from €6,307 to €4,897
- Tax, wage and social debts +€1,274
up €1,274 (+31.1%), from €4,091 to €5,365
- Gross operating margin +€6,968
up €6,968 (+87.9%), from €7,930 to €14,898
- Depreciation -€3,568
down €3,568 (-31.5%), from €11,342 to €7,774
- Taxes -€1,656
no longer reported in 2025 (was €1,656)
- Financial income +€677
up €677 (+1,519%), from €45 to €721
- Financial charges +€565
up €565 (+34.1%), from €1,659 to €2,224
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.
Derived cash bridge
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 | €90,153 | €94,343 | +€4,190 | +4.6% |
| Fixed assets | 21/28 | €21,701 | €14,340 | -€7,362 | -33.9% |
| Tangible fixed assets | 22/27 | €21,701 | €14,340 | -€7,362 | -33.9% |
| Land and buildings | 22 | €13,709 | €9,928 | -€3,781 | -27.6% |
| Plant, machinery and equipment | 23 | €4,485 | €3,625 | -€860 | -19.2% |
| Furniture and vehicles | 24 | €3,507 | €786 | -€2,720 | -77.6% |
| Current assets | 29/58 | €68,451 | €80,003 | +€11,552 | +16.9% |
| Stocks and contracts in progress | 3 | €64,903 | €74,003 | +€9,100 | +14.0% |
| Stocks | 30/36 | €64,903 | €74,003 | +€9,100 | +14.0% |
| Amounts receivable within one year | 40/41 | €1,390 | €1,205 | -€186 | -13.4% |
| Trade receivables | 40 | €1,390 | €1,205 | -€186 | -13.4% |
| Cash at bank and in hand | 54/58 | €2,159 | €4,796 | +€2,637 | +122% |
| Total equity and liabilities | 10/49 | €90,153 | €94,343 | +€4,190 | +4.6% |
| Equity | 10/15 | €24,020 | €27,974 | +€3,954 | +16.5% |
| Contributions | 10/11 | €19,069 | €19,069 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,951 | €8,905 | +€3,954 | +79.9% |
| Amounts payable | 17/49 | €66,132 | €66,369 | +€236 | +0.4% |
| Amounts payable after more than one year | 17 | €13,872 | €9,658 | -€4,215 | -30.4% |
| Financial debts | 170/4 | €13,872 | €9,658 | -€4,215 | -30.4% |
| Amounts payable within one year | 42/48 | €52,260 | €56,077 | +€3,816 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €6,307 | €4,897 | -€1,409 | -22.3% |
| Trade debts | 44 | €9,798 | €10,715 | +€917 | +9.4% |
| Suppliers | 440/4 | €9,798 | €10,715 | +€917 | +9.4% |
| Taxes, remuneration and social security | 45 | €4,091 | €5,365 | +€1,274 | +31.1% |
| Taxes | 450/3 | €4,091 | €5,365 | +€1,274 | +31.1% |
| Other amounts payable | 47/48 | €32,065 | €35,099 | +€3,035 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €634 | +€634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,342 | €7,774 | -€3,568 | -31.5% |
| Other operating charges | 640/8 | €1,296 | €1,668 | +€372 | +28.7% |
| Gross operating margin | 9900 | €7,930 | €14,898 | +€6,968 | +87.9% |
| Operating profit (loss) | 9901 | -€4,708 | €5,457 | +€10,165 | |
| Financial income | 75/76B | €45 | €721 | +€677 | +1,519% |
| Recurring financial income | 75 | €45 | €721 | +€677 | +1,519% |
| Financial charges | 65/66B | €1,659 | €2,224 | +€565 | +34.1% |
| Recurring financial charges | 65 | €1,659 | €2,224 | +€565 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,323 | €3,954 | +€10,277 | |
| Income taxes | 67/77 | €1,656 | - | -€1,656 | |
| Profit (loss) for the period | 9904 | -€7,978 | €3,954 | +€11,932 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,978 | €3,954 | +€11,932 |
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 14 October 2026 via checked.be.