GEMO: 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.
GEMO
Largest movements
- Tangible fixed assets -€213,748
down €213,748 (-7.0%), from €3.0m to €2.8m
of which Land and buildings: -€162,546
- Receivables within one year -€79,357
down €79,357 (-5.2%), from €1.5m to €1.5m
of which Trade receivables: -€100,731
- Cash +€51,568
up €51,568 (+47.2%), from €109,265 to €160,833
mainly Depreciation (+€323,381) and Net result for the year (+€306,996)
- Other debts -€476,788
down €476,788 (-87.3%), from €546,439 to €69,651
- Reserves +€237,346
up €237,346 (+6.5%), from €3.7m to €3.9m
of which Distributable reserves: +€237,346
- Tax, wage and social debts -€109,715
down €109,715 (-28.3%), from €387,285 to €277,570
of which Taxes: -€57,655
- Trade debts +€108,038
up €108,038 (+208.8%), from €51,743 to €159,781
- Staff costs -€126,319
down €126,319 (-8.6%), from €1.5m to €1.3m
- Gross operating margin -€81,858
down €81,858 (-3.6%), from €2.3m to €2.2m
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 | €4,709,204 | €4,468,084 | -€241,119 | -5.1% |
| Fixed assets | 21/28 | €3,069,586 | €2,856,255 | -€213,331 | -6.9% |
| Tangible fixed assets | 22/27 | €3,034,803 | €2,821,054 | -€213,748 | -7.0% |
| Land and buildings | 22 | €2,867,800 | €2,705,253 | -€162,546 | -5.7% |
| Plant, machinery and equipment | 23 | €11,645 | €6,346 | -€5,299 | -45.5% |
| Furniture and vehicles | 24 | €95,547 | €59,321 | -€36,226 | -37.9% |
| Other tangible fixed assets | 26 | €59,811 | €50,134 | -€9,677 | -16.2% |
| Financial fixed assets | 28 | €34,783 | €35,200 | +€417 | +1.2% |
| Current assets | 29/58 | €1,639,618 | €1,611,830 | -€27,788 | -1.7% |
| Amounts receivable within one year | 40/41 | €1,530,353 | €1,450,997 | -€79,357 | -5.2% |
| Trade receivables | 40 | €1,516,353 | €1,415,622 | -€100,731 | -6.6% |
| Other amounts receivable | 41 | €14,000 | €35,374 | +€21,374 | +152.7% |
| Cash at bank and in hand | 54/58 | €109,265 | €160,833 | +€51,568 | +47.2% |
| Total equity and liabilities | 10/49 | €4,709,204 | €4,468,084 | -€241,119 | -5.1% |
| Equity | 10/15 | €3,722,460 | €3,959,806 | +€237,346 | +6.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €3,657,964 | €3,895,310 | +€237,346 | +6.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,214 | €4,214 | = | 0.0% |
| Distributable reserves | 133 | €3,647,501 | €3,884,846 | +€237,346 | +6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €1,996 | €1,996 | = | 0.0% |
| Provisions and deferred taxes | 16 | €1,276 | €1,276 | = | 0.0% |
| Deferred taxes | 168 | €1,276 | €1,276 | = | 0.0% |
| Amounts payable | 17/49 | €985,467 | €507,002 | -€478,465 | -48.6% |
| Amounts payable within one year | 42/48 | €985,467 | €507,002 | -€478,465 | -48.6% |
| Trade debts | 44 | €51,743 | €159,781 | +€108,038 | +208.8% |
| Suppliers | 440/4 | €51,743 | €159,781 | +€108,038 | +208.8% |
| Taxes, remuneration and social security | 45 | €387,285 | €277,570 | -€109,715 | -28.3% |
| Taxes | 450/3 | €183,978 | €126,323 | -€57,655 | -31.3% |
| Remuneration and social security | 454/9 | €203,307 | €151,246 | -€52,061 | -25.6% |
| Other amounts payable | 47/48 | €546,439 | €69,651 | -€476,788 | -87.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,469,303 | €1,342,984 | -€126,319 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325,713 | €323,381 | -€2,332 | -0.7% |
| Other operating charges | 640/8 | €94,311 | €96,786 | +€2,475 | +2.6% |
| Gross operating margin | 9900 | €2,272,681 | €2,190,823 | -€81,858 | -3.6% |
| Operating profit (loss) | 9901 | €383,353 | €427,671 | +€44,318 | +11.6% |
| Financial income | 75/76B | €357 | €402 | +€46 | +12.8% |
| Recurring financial income | 75 | €357 | €402 | +€46 | +12.8% |
| Financial charges | 65/66B | €380 | €335 | -€45 | -11.7% |
| Recurring financial charges | 65 | €380 | €335 | -€45 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €383,330 | €427,738 | +€44,408 | +11.6% |
| Income taxes | 67/77 | €110,989 | €120,742 | +€9,752 | +8.8% |
| Profit (loss) for the period | 9904 | €272,341 | €306,996 | +€34,656 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €272,341 | €306,996 | +€34,656 | +12.7% |
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 10 October 2026 via checked.be.