GEMNU: 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.
GEMNU
Largest movements
- Cash +€16,099
up €16,099 (+1,138%), from €1,414 to €17,513
mainly Other debts (+€6,449) and Receivables within one year (+€6,349)
- Receivables within one year -€6,349
down €6,349 (-77.6%), from €8,185 to €1,836
of which Other amounts receivable: -€6,094
- Other debts +€6,449
new in 2025: €6,449
- Tax, wage and social debts +€2,965
up €2,965 (+249%), from €1,192 to €4,158
- Trade debts -€812
down €812 (-23.8%), from €3,409 to €2,597
- Gross operating margin +€2,749
up €2,749 (+4,487%), from €61 to €2,810
- Depreciation +€213
up €213 (+12.2%), from €1,753 to €1,966
- Taxes -€71
down €71 (-98.7%), from €72 to €1
- Other operating charges -€71
down €71 (-11.9%), from €599 to €528
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 | €67,429 | €76,077 | +€8,648 | +12.8% |
| Fixed assets | 21/28 | €2,830 | €1,728 | -€1,102 | -38.9% |
| Intangible fixed assets | 21 | €523 | €173 | -€350 | -67.0% |
| Tangible fixed assets | 22/27 | €2,307 | €1,555 | -€752 | -32.6% |
| Plant, machinery and equipment | 23 | €2,307 | €1,555 | -€752 | -32.6% |
| Current assets | 29/58 | €64,599 | €74,349 | +€9,750 | +15.1% |
| Amounts receivable after more than one year | 29 | €55,000 | €55,000 | = | 0.0% |
| Trade receivables | 290 | €55,000 | €55,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,185 | €1,836 | -€6,349 | -77.6% |
| Trade receivables | 40 | €1,891 | €1,636 | -€254 | -13.4% |
| Other amounts receivable | 41 | €6,294 | €200 | -€6,094 | -96.8% |
| Cash at bank and in hand | 54/58 | €1,414 | €17,513 | +€16,099 | +1,138% |
| Total equity and liabilities | 10/49 | €67,429 | €76,077 | +€8,648 | +12.8% |
| Equity | 10/15 | €62,728 | €62,874 | +€146 | +0.2% |
| Contributions | 10/11 | €13,750 | €13,750 | = | 0.0% |
| Reserves | 13 | €48,978 | €49,124 | +€146 | +0.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,118 | €47,264 | +€146 | +0.3% |
| Amounts payable | 17/49 | €4,701 | €13,203 | +€8,502 | +181% |
| Amounts payable within one year | 42/48 | €4,701 | €13,203 | +€8,502 | +181% |
| Trade debts | 44 | €3,409 | €2,597 | -€812 | -23.8% |
| Suppliers | 440/4 | €3,409 | €2,597 | -€812 | -23.8% |
| Advances received on contracts in progress | 46 | €100 | - | -€100 | |
| Taxes, remuneration and social security | 45 | €1,192 | €4,158 | +€2,965 | +249% |
| Taxes | 450/3 | €1,192 | €4,158 | +€2,965 | +249% |
| Other amounts payable | 47/48 | - | €6,449 | +€6,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,753 | €1,966 | +€213 | +12.2% |
| Other operating charges | 640/8 | €599 | €528 | -€71 | -11.9% |
| Gross operating margin | 9900 | €61 | €2,810 | +€2,749 | +4,487% |
| Operating profit (loss) | 9901 | -€2,290 | €316 | +€2,606 | |
| Financial income | 75/76B | €5 | €3 | -€2 | -36.0% |
| Recurring financial income | 75 | €5 | €3 | -€2 | -36.0% |
| Financial charges | 65/66B | €190 | €172 | -€19 | -9.8% |
| Recurring financial charges | 65 | €190 | €172 | -€19 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,476 | €147 | +€2,623 | |
| Income taxes | 67/77 | €72 | €1 | -€71 | -98.7% |
| Profit (loss) for the period | 9904 | -€2,548 | €146 | +€2,694 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,548 | €146 | +€2,694 |
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 19 October 2026 via checked.be.