GEMOFI: 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.
GEMOFI
Largest movements
- Cash -€510,464
down €510,464 (-53.4%), from €955,940 to €445,476
mainly Investment in fixed assets (net) (-€323,829) and Net result for the year (-€300,934)
- Tangible fixed assets +€191,815
up €191,815 (+7.3%), from €2.6m to €2.8m
of which Plant, machinery and equipment: +€198,994
- Receivables after one year +€96,720
new in 2025: €96,720
- Profit (loss) carried forward -€300,934
down €300,934 (-59.6%), from -€504,550 to -€805,484
- Tax, wage and social debts +€138,815
up €138,815 (+7989.8%), from €1,737 to €140,552
- Other debts -€103,034
down €103,034 (-98.5%), from €104,578 to €1,544
- Financial income -€778,644
down €778,644 (-91.9%), from €846,910 to €68,267
of which Non-recurring financial income: -€814,834
- Taxes +€127,830
up €127,830 (+406973.1%), from €31 to €127,862
- Depreciation -€76,383
down €76,383 (-36.7%), from €208,397 to €132,014
- Gross operating margin -€65,569
down €65,569, from €48,848 to -€16,720
- Other operating charges +€23,719
up €23,719 (+71.2%), from €33,312 to €57,031
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 | €5,358,603 | €5,107,425 | -€251,178 | -4.7% |
| Fixed assets | 21/28 | €2,626,550 | €2,818,365 | +€191,815 | +7.3% |
| Tangible fixed assets | 22/27 | €2,626,550 | €2,818,365 | +€191,815 | +7.3% |
| Land and buildings | 22 | €2,015,752 | €2,023,047 | +€7,295 | +0.4% |
| Plant, machinery and equipment | 23 | €539,563 | €738,556 | +€198,994 | +36.9% |
| Furniture and vehicles | 24 | €71,236 | €56,762 | -€14,474 | -20.3% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,732,053 | €2,289,060 | -€442,993 | -16.2% |
| Amounts receivable after more than one year | 29 | - | €96,720 | +€96,720 | |
| Other amounts receivable | 291 | - | €96,720 | +€96,720 | |
| Amounts receivable within one year | 40/41 | €84,029 | €41,617 | -€42,411 | -50.5% |
| Trade receivables | 40 | €65,468 | €362 | -€65,107 | -99.4% |
| Other amounts receivable | 41 | €18,560 | €41,256 | +€22,696 | +122.3% |
| Current investments | 50/53 | €1,689,073 | €1,702,650 | +€13,577 | +0.8% |
| Cash at bank and in hand | 54/58 | €955,940 | €445,476 | -€510,464 | -53.4% |
| Deferred charges and accrued income | 490/1 | €3,012 | €2,597 | -€415 | -13.8% |
| Total equity and liabilities | 10/49 | €5,358,603 | €5,107,425 | -€251,178 | -4.7% |
| Equity | 10/15 | €4,697,399 | €4,421,559 | -€275,840 | -5.9% |
| Contributions | 10/11 | €5,175,694 | €5,175,694 | = | 0.0% |
| Capital | 10 | €5,175,694 | €5,175,694 | = | 0.0% |
| Issued capital | 100 | €5,175,694 | €5,175,694 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€504,550 | -€805,484 | -€300,934 | -59.6% |
| Investment grants | 15 | €26,254 | €51,348 | +€25,094 | +95.6% |
| Amounts payable | 17/49 | €661,205 | €685,867 | +€24,662 | +3.7% |
| Amounts payable after more than one year | 17 | €450,000 | €450,000 | = | 0.0% |
| Financial debts | 170/4 | €450,000 | €450,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €190,340 | €231,372 | +€41,032 | +21.6% |
| Trade debts | 44 | €84,024 | €89,276 | +€5,252 | +6.3% |
| Suppliers | 440/4 | €84,024 | €89,276 | +€5,252 | +6.3% |
| Taxes, remuneration and social security | 45 | €1,737 | €140,552 | +€138,815 | +7989.8% |
| Taxes | 450/3 | €1,737 | €140,552 | +€138,815 | +7989.8% |
| Other amounts payable | 47/48 | €104,578 | €1,544 | -€103,034 | -98.5% |
| Accrued charges and deferred income | 492/3 | €20,865 | €4,495 | -€16,371 | -78.5% |
| Non-recurring operating income | 76A | €23,055 | - | -€23,055 | |
| Remuneration, social security and pensions | 62 | €1,137 | - | -€1,137 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,397 | €132,014 | -€76,383 | -36.7% |
| Other operating charges | 640/8 | €33,312 | €57,031 | +€23,719 | +71.2% |
| Gross operating margin | 9900 | €48,848 | -€16,720 | -€65,569 | |
| Operating profit (loss) | 9901 | -€193,997 | -€205,765 | -€11,768 | -6.1% |
| Financial income | 75/76B | €846,910 | €68,267 | -€778,644 | -91.9% |
| Recurring financial income | 75 | €32,077 | €68,267 | +€36,190 | +112.8% |
| Non-recurring financial income | 76B | €814,834 | - | -€814,834 | |
| Financial charges | 65/66B | €28,266 | €35,574 | +€7,308 | +25.9% |
| Recurring financial charges | 65 | €28,266 | €35,574 | +€7,308 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €624,647 | -€173,072 | -€797,719 | |
| Income taxes | 67/77 | €31 | €127,862 | +€127,830 | +406973.1% |
| Profit (loss) for the period | 9904 | €624,616 | -€300,934 | -€925,550 | |
| Profit (loss) for the period to be appropriated | 9905 | €624,616 | -€300,934 | -€925,550 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.