GESMERCKX: what changed
Two financial 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.
GESMERCKX
Largest movements
- Receivables within one year -€9,716
down €9,716 (-60.0%), from €16,191 to €6,475
of which Other amounts receivable: -€12,514
- Cash -€5,264
down €5,264 (-11.1%), from €47,587 to €42,323
mainly Provisions (-€22,288) and Investment in fixed assets (net) (-€13,075)
- Tangible fixed assets -€4,665
down €4,665 (-1.9%), from €242,162 to €237,497
- Profit (loss) carried forward -€80,003
no longer reported in 2025 (was €80,003)
- Reserves +€67,560
up €67,560 (+85.1%), from €79,364 to €146,923
of which Distributable reserves: +€134,423
- Provisions -€22,288
no longer reported in 2025 (was €22,288)
- Trade debts +€13,812
new in 2025: €13,812
- Gross operating margin -€9,900
down €9,900 (-751%), from -€1,318 to -€11,218
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.
Derived cash bridge
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 | €306,655 | €286,735 | -€19,920 | -6.5% |
| Fixed assets | 21/28 | €242,437 | €237,497 | -€4,940 | -2.0% |
| Tangible fixed assets | 22/27 | €242,162 | €237,497 | -€4,665 | -1.9% |
| Land and buildings | 22 | €242,162 | €237,497 | -€4,665 | -1.9% |
| Financial fixed assets | 28 | €275 | - | -€275 | |
| Current assets | 29/58 | €64,217 | €49,237 | -€14,980 | -23.3% |
| Amounts receivable within one year | 40/41 | €16,191 | €6,475 | -€9,716 | -60.0% |
| Trade receivables | 40 | €2,940 | €5,738 | +€2,798 | +95.2% |
| Other amounts receivable | 41 | €13,251 | €737 | -€12,514 | -94.4% |
| Cash at bank and in hand | 54/58 | €47,587 | €42,323 | -€5,264 | -11.1% |
| Deferred charges and accrued income | 490/1 | €439 | €440 | +€0 | +0.1% |
| Total equity and liabilities | 10/49 | €306,655 | €286,735 | -€19,920 | -6.5% |
| Equity | 10/15 | €284,367 | €271,923 | -€12,444 | -4.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €79,364 | €146,923 | +€67,560 | +85.1% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €66,864 | - | -€66,864 | |
| Distributable reserves | 133 | - | €134,423 | +€134,423 | |
| Profit (loss) carried forward | 14 | €80,003 | - | -€80,003 | |
| Provisions and deferred taxes | 16 | €22,288 | - | -€22,288 | |
| Deferred taxes | 168 | €22,288 | - | -€22,288 | |
| Amounts payable | 17/49 | - | €14,811 | +€14,811 | |
| Amounts payable within one year | 42/48 | - | €14,811 | +€14,811 | |
| Trade debts | 44 | - | €13,812 | +€13,812 | |
| Suppliers | 440/4 | - | €13,812 | +€13,812 | |
| Other amounts payable | 47/48 | - | €999 | +€999 | |
| Non-recurring operating income | 76A | - | €1 | +€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,937 | €18,016 | +€78 | +0.4% |
| Other operating charges | 640/8 | €2,054 | €2,119 | +€66 | +3.2% |
| Non-recurring operating charges | 66A | - | €3,278 | +€3,278 | |
| Gross operating margin | 9900 | -€1,318 | -€11,218 | -€9,900 | -751% |
| Operating profit (loss) | 9901 | -€21,309 | -€34,631 | -€13,322 | -62.5% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €45 | €101 | +€56 | +124% |
| Recurring financial charges | 65 | €45 | €101 | +€56 | +124% |
| Profit (loss) for the period before taxes | 9903 | -€21,351 | -€34,732 | -€13,380 | -62.7% |
| Transfer from deferred taxes | 780 | €2,316 | €22,288 | +€19,972 | +862% |
| Profit (loss) for the period | 9904 | -€19,035 | -€12,444 | +€6,592 | +34.6% |
| Transfer from tax-exempt reserves | 789 | €6,949 | €66,864 | +€59,915 | +862% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,087 | €54,420 | +€66,507 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.