GEMKA: 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.
GEMKA
Largest movements
- Cash +€10,154
up €10,154 (+63.7%), from €15,941 to €26,095
mainly Net result for the year (+€8,824) and Depreciation (+€6,163)
- Tangible fixed assets +€3,533
up €3,533 (+4.9%), from €71,444 to €74,977
- Profit (loss) carried forward +€8,824
up €8,824 (+19.4%), from €45,373 to €54,197
- Trade debts +€2,449
new in 2025: €2,449
- Other debts +€1,416
up €1,416 (+29.0%), from €4,886 to €6,302
- Gross operating margin +€1,568
up €1,568 (+8.0%), from €19,566 to €21,134
- Depreciation +€414
up €414 (+7.2%), from €5,749 to €6,163
- Taxes +€228
up €228 (+7.5%), from €3,040 to €3,268
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 | €87,385 | €101,072 | +€13,687 | +15.7% |
| Fixed assets | 21/28 | €71,444 | €74,977 | +€3,533 | +4.9% |
| Tangible fixed assets | 22/27 | €71,444 | €74,977 | +€3,533 | +4.9% |
| Land and buildings | 22 | €71,444 | €74,977 | +€3,533 | +4.9% |
| Current assets | 29/58 | €15,941 | €26,095 | +€10,154 | +63.7% |
| Cash at bank and in hand | 54/58 | €15,941 | €26,095 | +€10,154 | +63.7% |
| Total equity and liabilities | 10/49 | €87,385 | €101,072 | +€13,687 | +15.7% |
| Equity | 10/15 | €79,459 | €88,283 | +€8,824 | +11.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,373 | €54,197 | +€8,824 | +19.4% |
| Amounts payable | 17/49 | €7,926 | €12,789 | +€4,863 | +61.4% |
| Amounts payable within one year | 42/48 | €7,926 | €12,019 | +€4,093 | +51.6% |
| Trade debts | 44 | - | €2,449 | +€2,449 | |
| Suppliers | 440/4 | - | €2,449 | +€2,449 | |
| Taxes, remuneration and social security | 45 | €3,040 | €3,268 | +€228 | +7.5% |
| Taxes | 450/3 | €3,040 | €3,268 | +€228 | +7.5% |
| Other amounts payable | 47/48 | €4,886 | €6,302 | +€1,416 | +29.0% |
| Accrued charges and deferred income | 492/3 | - | €770 | +€770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,749 | €6,163 | +€414 | +7.2% |
| Other operating charges | 640/8 | €2,740 | €2,811 | +€71 | +2.6% |
| Gross operating margin | 9900 | €19,566 | €21,134 | +€1,568 | +8.0% |
| Operating profit (loss) | 9901 | €11,077 | €12,160 | +€1,083 | +9.8% |
| Financial charges | 65/66B | €29 | €68 | +€39 | +134.5% |
| Recurring financial charges | 65 | €29 | €68 | +€39 | +134.5% |
| Profit (loss) for the period before taxes | 9903 | €11,048 | €12,092 | +€1,044 | +9.4% |
| Income taxes | 67/77 | €3,040 | €3,268 | +€228 | +7.5% |
| Profit (loss) for the period | 9904 | €8,008 | €8,824 | +€816 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,008 | €8,824 | +€816 | +10.2% |
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 3 October 2026 via checked.be.