GEMS: 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.
GEMS
Largest movements
- Cash +€227,205
up €227,205 (+511.5%), from €44,418 to €271,624
mainly Current investments (+€199,000) and Net result for the year (+€56,330)
- Current investments -€199,000
down €199,000 (-99.5%), from €200,000 to €1,000
- Tangible fixed assets +€47,353
up €47,353 (+118.3%), from €40,033 to €87,386
of which Furniture and vehicles: +€53,729
- Receivables within one year +€25,251
up €25,251 (+1283.0%), from €1,968 to €27,219
of which Trade receivables: +€14,544
- Reserves +€56,330
up €56,330 (+41.6%), from €135,341 to €191,670
- Other debts +€38,553
up €38,553 (+31.4%), from €122,940 to €161,493
- Accrued charges and deferred income +€4,700
new in 2025: €4,700
- Financial charges +€30,784
up €30,784, from -€30,725 to €59
- Financial income +€11,686
up €11,686 (+238.8%), from €4,894 to €16,581
- Depreciation +€11,005
up €11,005 (+162.7%), from €6,764 to €17,769
- Gross operating margin +€10,955
up €10,955 (+14.5%), from €75,448 to €86,403
- Other operating charges +€6,558
up €6,558 (+831.1%), from €789 to €7,347
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 | €286,419 | €387,229 | +€100,810 | +35.2% |
| Fixed assets | 21/28 | €40,033 | €87,386 | +€47,353 | +118.3% |
| Tangible fixed assets | 22/27 | €40,033 | €87,386 | +€47,353 | +118.3% |
| Plant, machinery and equipment | 23 | €23,652 | €19,504 | -€4,148 | -17.5% |
| Furniture and vehicles | 24 | €4,788 | €58,517 | +€53,729 | +1122.2% |
| Other tangible fixed assets | 26 | €11,593 | €9,365 | -€2,228 | -19.2% |
| Current assets | 29/58 | €246,386 | €299,843 | +€53,457 | +21.7% |
| Amounts receivable within one year | 40/41 | €1,968 | €27,219 | +€25,251 | +1283.0% |
| Trade receivables | 40 | - | €14,544 | +€14,544 | |
| Other amounts receivable | 41 | €1,968 | €12,675 | +€10,707 | +544.0% |
| Current investments | 50/53 | €200,000 | €1,000 | -€199,000 | -99.5% |
| Cash at bank and in hand | 54/58 | €44,418 | €271,624 | +€227,205 | +511.5% |
| Total equity and liabilities | 10/49 | €286,419 | €387,229 | +€100,810 | +35.2% |
| Equity | 10/15 | €153,941 | €210,270 | +€56,330 | +36.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,341 | €191,670 | +€56,330 | +41.6% |
| Distributable reserves | 133 | €135,341 | €191,670 | +€56,330 | +41.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €132,478 | €176,958 | +€44,480 | +33.6% |
| Amounts payable within one year | 42/48 | €132,478 | €172,258 | +€39,780 | +30.0% |
| Trade debts | 44 | €2,804 | €5,979 | +€3,175 | +113.2% |
| Suppliers | 440/4 | €2,804 | €5,979 | +€3,175 | +113.2% |
| Taxes, remuneration and social security | 45 | €6,734 | €4,786 | -€1,948 | -28.9% |
| Taxes | 450/3 | €6,734 | €4,786 | -€1,948 | -28.9% |
| Other amounts payable | 47/48 | €122,940 | €161,493 | +€38,553 | +31.4% |
| Accrued charges and deferred income | 492/3 | - | €4,700 | +€4,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,764 | €17,769 | +€11,005 | +162.7% |
| Other operating charges | 640/8 | €789 | €7,347 | +€6,558 | +831.1% |
| Gross operating margin | 9900 | €75,448 | €86,403 | +€10,955 | +14.5% |
| Operating profit (loss) | 9901 | €67,895 | €61,287 | -€6,608 | -9.7% |
| Financial income | 75/76B | €4,894 | €16,581 | +€11,686 | +238.8% |
| Recurring financial income | 75 | €4,894 | €16,581 | +€11,686 | +238.8% |
| Financial charges | 65/66B | -€30,725 | €59 | +€30,784 | |
| Recurring financial charges | 65 | -€30,725 | €59 | +€30,784 | |
| Profit (loss) for the period before taxes | 9903 | €103,514 | €77,808 | -€25,706 | -24.8% |
| Income taxes | 67/77 | €19,088 | €21,479 | +€2,391 | +12.5% |
| Profit (loss) for the period | 9904 | €84,426 | €56,330 | -€28,096 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,426 | €56,330 | -€28,096 | -33.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.