GSEMER: 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.
GSEMER
Largest movements
- Deferred charges and accrued income +€17,439
up €17,439 (+43.2%), from €40,328 to €57,766
- Other debts +€18,487
up €18,487 (+3.4%), from €551,421 to €569,908
- Gross operating margin +€3,023
up €3,023 (+20.3%), from -€14,907 to -€11,884
- Financial income -€2,129
down €2,129 (-10.9%), from €19,568 to €17,439
- Other operating charges -€1,102
down €1,102 (-24.3%), from €4,532 to €3,430
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 | €609,688 | €626,520 | +€16,833 | +2.8% |
| Fixed assets | 21/28 | €565,917 | €566,417 | +€500 | +0.1% |
| Financial fixed assets | 28 | €565,917 | €566,417 | +€500 | +0.1% |
| Current assets | 29/58 | €43,770 | €60,103 | +€16,333 | +37.3% |
| Amounts receivable within one year | 40/41 | €3,280 | €0 | -€3,280 | -100% |
| Other amounts receivable | 41 | €3,280 | €0 | -€3,280 | -100% |
| Cash at bank and in hand | 54/58 | €163 | €2,337 | +€2,174 | +1,337% |
| Deferred charges and accrued income | 490/1 | €40,328 | €57,766 | +€17,439 | +43.2% |
| Total equity and liabilities | 10/49 | €609,688 | €626,520 | +€16,833 | +2.8% |
| Equity | 10/15 | €41,596 | €43,682 | +€2,086 | +5.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,904 | -€17,818 | +€2,086 | +10.5% |
| Amounts payable | 17/49 | €568,092 | €582,839 | +€14,747 | +2.6% |
| Amounts payable within one year | 42/48 | €568,092 | €582,839 | +€14,747 | +2.6% |
| Trade debts | 44 | €16,671 | €12,930 | -€3,741 | -22.4% |
| Suppliers | 440/4 | €16,671 | €12,930 | -€3,741 | -22.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €551,421 | €569,908 | +€18,487 | +3.4% |
| Other operating charges | 640/8 | €4,532 | €3,430 | -€1,102 | -24.3% |
| Gross operating margin | 9900 | -€14,907 | -€11,884 | +€3,023 | +20.3% |
| Operating profit (loss) | 9901 | -€19,439 | -€15,314 | +€4,125 | +21.2% |
| Financial income | 75/76B | €19,568 | €17,439 | -€2,129 | -10.9% |
| Recurring financial income | 75 | €19,568 | €17,439 | -€2,129 | -10.9% |
| Financial charges | 65/66B | €46 | €38 | -€7 | -15.8% |
| Recurring financial charges | 65 | €46 | €38 | -€7 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €83 | €2,086 | +€2,003 | +2,406% |
| Profit (loss) for the period | 9904 | €83 | €2,086 | +€2,003 | +2,406% |
| Profit (loss) for the period to be appropriated | 9905 | €83 | €2,086 | +€2,003 | +2,406% |
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 25 October 2026 via checked.be.