GEMSEL: 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.
GEMSEL
Largest movements
- Receivables within one year -€5,573
down €5,573 (-4.8%), from €116,751 to €111,178
- Trade debts -€7,777
down €7,777 (-93.3%), from €8,337 to €559
- Profit (loss) carried forward +€2,053
up €2,053 (+2.3%), from €89,734 to €91,787
- Other operating charges -€167
down €167 (-2.2%), from €7,696 to €7,529
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 | €127,587 | €121,795 | -€5,792 | -4.5% |
| Current assets | 29/58 | €127,587 | €121,795 | -€5,792 | -4.5% |
| Amounts receivable within one year | 40/41 | €116,751 | €111,178 | -€5,573 | -4.8% |
| Other amounts receivable | 41 | €116,751 | €111,178 | -€5,573 | -4.8% |
| Cash at bank and in hand | 54/58 | €24 | €26 | +€1 | +4.3% |
| Deferred charges and accrued income | 490/1 | €10,811 | €10,591 | -€220 | -2.0% |
| Total equity and liabilities | 10/49 | €127,587 | €121,795 | -€5,792 | -4.5% |
| Equity | 10/15 | €110,186 | €112,238 | +€2,053 | +1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,734 | €91,787 | +€2,053 | +2.3% |
| Amounts payable | 17/49 | €17,402 | €9,557 | -€7,845 | -45.1% |
| Amounts payable within one year | 42/48 | €9,684 | €2,028 | -€7,657 | -79.1% |
| Trade debts | 44 | €8,337 | €559 | -€7,777 | -93.3% |
| Suppliers | 440/4 | €8,337 | €559 | -€7,777 | -93.3% |
| Taxes, remuneration and social security | 45 | €1,348 | €1,468 | +€121 | +8.9% |
| Taxes | 450/3 | €1,348 | €1,468 | +€121 | +8.9% |
| Accrued charges and deferred income | 492/3 | €7,717 | €7,529 | -€188 | -2.4% |
| Other operating charges | 640/8 | €7,696 | €7,529 | -€167 | -2.2% |
| Gross operating margin | 9900 | €6,837 | €6,858 | +€20 | +0.3% |
| Operating profit (loss) | 9901 | -€859 | -€672 | +€187 | +21.8% |
| Financial income | 75/76B | €3,503 | €3,471 | -€31 | -0.9% |
| Recurring financial income | 75 | €3,503 | €3,471 | -€31 | -0.9% |
| Financial charges | 65/66B | -€3 | - | +€3 | |
| Recurring financial charges | 65 | -€3 | - | +€3 | |
| Profit (loss) for the period before taxes | 9903 | €2,647 | €2,800 | +€153 | +5.8% |
| Income taxes | 67/77 | €693 | €747 | +€54 | +7.8% |
| Profit (loss) for the period | 9904 | €1,954 | €2,053 | +€99 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,954 | €2,053 | +€99 | +5.1% |
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 8 October 2026 via checked.be.