GEMOGA: 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.
GEMOGA
Largest movements
- Cash -€112,123
down €112,123 (-99.7%), from €112,491 to €368
mainly Trade debts (-€73,198) and Other debts (-€56,827)
- Receivables within one year -€13,798
down €13,798 (-2.8%), from €494,891 to €481,093
of which Other amounts receivable: -€13,798
- Trade debts -€73,198
down €73,198 (-87.5%), from €83,703 to €10,505
- Other debts -€56,827
down €56,827 (-100.0%), from €56,827 to €0
- Gross operating margin +€303,062
up €303,062 (+95.7%), from -€316,772 to -€13,710
- Provisions +€50,000
up €50,000, from -€50,000 to €0
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 | €739,292 | €608,474 | -€130,818 | -17.7% |
| Fixed assets | 21/28 | €44,591 | €39,694 | -€4,897 | -11.0% |
| Intangible fixed assets | 21 | €44,591 | €39,694 | -€4,897 | -11.0% |
| Current assets | 29/58 | €694,702 | €568,780 | -€125,921 | -18.1% |
| Stocks and contracts in progress | 3 | €87,319 | €87,319 | = | 0.0% |
| Stocks | 30/36 | €87,319 | €87,319 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €494,891 | €481,093 | -€13,798 | -2.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €494,891 | €481,093 | -€13,798 | -2.8% |
| Cash at bank and in hand | 54/58 | €112,491 | €368 | -€112,123 | -99.7% |
| Total equity and liabilities | 10/49 | €739,292 | €608,474 | -€130,818 | -17.7% |
| Equity | 10/15 | €598,762 | €597,969 | -€793 | -0.1% |
| Contributions | 10/11 | €64,500 | €64,500 | = | 0.0% |
| Capital | 10 | €64,500 | €64,500 | = | 0.0% |
| Issued capital | 100 | €64,500 | €64,500 | = | 0.0% |
| Reserves | 13 | €6,450 | €6,450 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,450 | €6,450 | = | 0.0% |
| Legal reserve | 130 | €6,450 | €6,450 | = | 0.0% |
| Profit (loss) carried forward | 14 | €527,812 | €527,019 | -€793 | -0.2% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €140,530 | €10,505 | -€130,025 | -92.5% |
| Amounts payable within one year | 42/48 | €140,530 | €10,505 | -€130,025 | -92.5% |
| Trade debts | 44 | €83,703 | €10,505 | -€73,198 | -87.5% |
| Suppliers | 440/4 | €83,703 | €10,505 | -€73,198 | -87.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €56,827 | €0 | -€56,827 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,378 | €4,897 | +€519 | +11.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€50,000 | €0 | +€50,000 | |
| Other operating charges | 640/8 | €1,183 | €1,218 | +€35 | +2.9% |
| Non-recurring operating charges | 66A | €1,140 | €0 | -€1,140 | -100.0% |
| Gross operating margin | 9900 | -€316,772 | -€13,710 | +€303,062 | +95.7% |
| Operating profit (loss) | 9901 | -€273,473 | -€19,824 | +€253,649 | +92.8% |
| Financial income | 75/76B | €18,869 | €19,060 | +€191 | +1.0% |
| Recurring financial income | 75 | €18,869 | €19,060 | +€191 | +1.0% |
| Financial charges | 65/66B | €972 | €29 | -€944 | -97.1% |
| Recurring financial charges | 65 | €972 | €29 | -€944 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | -€255,576 | -€793 | +€254,783 | +99.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€255,576 | -€793 | +€254,783 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€255,576 | -€793 | +€254,783 | +99.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.