GEMV: 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.
GEMV
Largest movements
- Tangible fixed assets -€5,627
down €5,627 (-4.5%), from €123,825 to €118,198
of which Land and buildings: -€5,155
- Profit (loss) carried forward -€3,100
down €3,100 (-3.7%), from -€82,779 to -€85,879
- Other debts -€2,396
down €2,396 (-1.9%), from €126,304 to €123,908
- Gross operating margin -€1,113
down €1,113 (-18.5%), from €6,021 to €4,908
- Financial charges -€243
down €243 (-77.1%), from €316 to €72
- Purchases and services -€194
down €194 (-2.3%), from €8,311 to €8,117
- Other operating charges -€185
down €185 (-7.4%), from €2,493 to €2,308
- Turnover -€74
down €74 (-26.1%), from €285 to €211
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 | €152,306 | €147,615 | -€4,691 | -3.1% |
| Fixed assets | 21/28 | €123,825 | €118,198 | -€5,627 | -4.5% |
| Tangible fixed assets | 22/27 | €123,825 | €118,198 | -€5,627 | -4.5% |
| Land and buildings | 22 | €120,527 | €115,372 | -€5,155 | -4.3% |
| Plant, machinery and equipment | 23 | €2,987 | €2,618 | -€369 | -12.4% |
| Furniture and vehicles | 24 | €311 | €207 | -€104 | -33.3% |
| Current assets | 29/58 | €28,482 | €29,417 | +€936 | +3.3% |
| Amounts receivable within one year | 40/41 | €560 | €134 | -€426 | -76.1% |
| Trade receivables | 40 | €50 | €100 | +€50 | +100.0% |
| Other amounts receivable | 41 | €510 | €34 | -€476 | -93.3% |
| Cash at bank and in hand | 54/58 | €26,483 | €26,989 | +€506 | +1.9% |
| Deferred charges and accrued income | 490/1 | €1,438 | €2,295 | +€857 | +59.5% |
| Total equity and liabilities | 10/49 | €152,306 | €147,615 | -€4,691 | -3.1% |
| Equity | 10/15 | €24,575 | €21,475 | -€3,100 | -12.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €7,354 | €7,354 | = | 0.0% |
| Distributable reserves | 133 | €7,354 | €7,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,779 | -€85,879 | -€3,100 | -3.7% |
| Amounts payable | 17/49 | €127,731 | €126,140 | -€1,592 | -1.2% |
| Amounts payable within one year | 42/48 | €127,731 | €126,140 | -€1,592 | -1.2% |
| Trade debts | 44 | €80 | €1,472 | +€1,392 | +1742.1% |
| Suppliers | 440/4 | €80 | €1,472 | +€1,392 | +1742.1% |
| Advances received on contracts in progress | 46 | €1,200 | €600 | -€600 | -50.0% |
| Taxes, remuneration and social security | 45 | €148 | €160 | +€12 | +8.2% |
| Taxes | 450/3 | €148 | €160 | +€12 | +8.2% |
| Other amounts payable | 47/48 | €126,304 | €123,908 | -€2,396 | -1.9% |
| Turnover | 70 | €285 | €211 | -€74 | -26.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,311 | €8,117 | -€194 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,627 | €5,627 | = | 0.0% |
| Other operating charges | 640/8 | €2,493 | €2,308 | -€185 | -7.4% |
| Gross operating margin | 9900 | €6,021 | €4,908 | -€1,113 | -18.5% |
| Operating profit (loss) | 9901 | -€2,099 | -€3,027 | -€928 | -44.2% |
| Financial income | 75/76B | €230 | €228 | -€2 | -1.0% |
| Recurring financial income | 75 | €230 | €228 | -€2 | -1.0% |
| Financial charges | 65/66B | €316 | €72 | -€243 | -77.1% |
| Recurring financial charges | 65 | €316 | €72 | -€243 | -77.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,185 | -€2,872 | -€687 | -31.4% |
| Income taxes | 67/77 | €217 | €228 | +€11 | +5.3% |
| Profit (loss) for the period | 9904 | -€2,402 | -€3,100 | -€698 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,402 | -€3,100 | -€698 | -29.1% |
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 5 October 2026 via checked.be.