Gemma: 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.
Gemma
Largest movements
- Cash +€90,296
up €90,296 (+45.1%), from €200,408 to €290,704
mainly Net result for the year (+€74,086) and Other debts (+€54,323)
- Stocks and contracts +€12,146
up €12,146 (+20.7%), from €58,802 to €70,948
- Tangible fixed assets -€11,458
down €11,458 (-2.1%), from €552,438 to €540,979
of which Land and buildings: -€28,372
- Reserves +€74,086
up €74,086 (+140.5%), from €52,725 to €126,811
- Other debts +€54,323
up €54,323 (+79.8%), from €68,088 to €122,411
- Trade debts -€36,558
down €36,558 (-13.5%), from €270,104 to €233,546
- Debts after one year -€20,567
down €20,567 (-5.6%), from €367,779 to €347,211
- Tax, wage and social debts +€16,818
up €16,818 (+63.2%), from €26,616 to €43,434
of which Taxes: +€15,814
- Gross operating margin +€67,928
up €67,928 (+68.9%), from €98,624 to €166,553
- Taxes +€20,738
up €20,738 (+189.7%), from €10,931 to €31,669
- Depreciation +€3,100
up €3,100 (+6.1%), from €50,982 to €54,082
- Other operating charges -€1,918
down €1,918 (-49.9%), from €3,848 to €1,930
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 | €814,731 | €903,505 | +€88,774 | +10.9% |
| Fixed assets | 21/28 | €552,438 | €540,979 | -€11,458 | -2.1% |
| Tangible fixed assets | 22/27 | €552,438 | €540,979 | -€11,458 | -2.1% |
| Land and buildings | 22 | €493,613 | €465,240 | -€28,372 | -5.7% |
| Plant, machinery and equipment | 23 | €19,690 | €50,418 | +€30,728 | +156.1% |
| Furniture and vehicles | 24 | €39,135 | €25,321 | -€13,814 | -35.3% |
| Current assets | 29/58 | €262,293 | €362,525 | +€100,232 | +38.2% |
| Stocks and contracts in progress | 3 | €58,802 | €70,948 | +€12,146 | +20.7% |
| Stocks | 30/36 | €58,802 | €70,948 | +€12,146 | +20.7% |
| Amounts receivable within one year | 40/41 | €2,450 | - | -€2,450 | |
| Trade receivables | 40 | €2,450 | - | -€2,450 | |
| Cash at bank and in hand | 54/58 | €200,408 | €290,704 | +€90,296 | +45.1% |
| Deferred charges and accrued income | 490/1 | €633 | €873 | +€240 | +38.0% |
| Total equity and liabilities | 10/49 | €814,731 | €903,505 | +€88,774 | +10.9% |
| Equity | 10/15 | €62,725 | €136,811 | +€74,086 | +118.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €52,725 | €126,811 | +€74,086 | +140.5% |
| Distributable reserves | 133 | €52,725 | €126,811 | +€74,086 | +140.5% |
| Amounts payable | 17/49 | €752,006 | €766,694 | +€14,688 | +2.0% |
| Amounts payable after more than one year | 17 | €367,779 | €347,211 | -€20,567 | -5.6% |
| Financial debts | 170/4 | €367,779 | €347,211 | -€20,567 | -5.6% |
| Amounts payable within one year | 42/48 | €384,228 | €419,482 | +€35,255 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €19,420 | €20,092 | +€672 | +3.5% |
| Trade debts | 44 | €270,104 | €233,546 | -€36,558 | -13.5% |
| Suppliers | 440/4 | €270,104 | €233,546 | -€36,558 | -13.5% |
| Taxes, remuneration and social security | 45 | €26,616 | €43,434 | +€16,818 | +63.2% |
| Taxes | 450/3 | €26,616 | €42,430 | +€15,814 | +59.4% |
| Remuneration and social security | 454/9 | - | €1,004 | +€1,004 | |
| Other amounts payable | 47/48 | €68,088 | €122,411 | +€54,323 | +79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,982 | €54,082 | +€3,100 | +6.1% |
| Other operating charges | 640/8 | €3,848 | €1,930 | -€1,918 | -49.9% |
| Gross operating margin | 9900 | €98,624 | €166,553 | +€67,928 | +68.9% |
| Operating profit (loss) | 9901 | €43,794 | €110,541 | +€66,746 | +152.4% |
| Financial income | 75/76B | €1,708 | €3,066 | +€1,358 | +79.5% |
| Recurring financial income | 75 | €1,708 | €3,066 | +€1,358 | +79.5% |
| Financial charges | 65/66B | €8,484 | €7,852 | -€632 | -7.4% |
| Recurring financial charges | 65 | €8,484 | €7,852 | -€632 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €37,018 | €105,755 | +€68,737 | +185.7% |
| Income taxes | 67/77 | €10,931 | €31,669 | +€20,738 | +189.7% |
| Profit (loss) for the period | 9904 | €26,087 | €74,086 | +€47,999 | +184.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,087 | €74,086 | +€47,999 | +184.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.