GEMIVER: what changed
GEMIVER
Largest movements
- Stocks and contracts +€9,100
up €9,100 (+14.0%), from €64,903 to €74,003
- Tangible fixed assets -€7,362
down €7,362 (-33.9%), from €21,701 to €14,340
of which Land and buildings: -€3,781
- Cash +€2,637
up €2,637 (+122%), from €2,159 to €4,796
mainly Depreciation (+€7,774) and Net result for the year (+€3,954)
- Debts after one year -€4,215
down €4,215 (-30.4%), from €13,872 to €9,658
- Profit (loss) carried forward +€3,954
up €3,954 (+79.9%), from €4,951 to €8,905
- Other debts +€3,035
up €3,035 (+9.5%), from €32,065 to €35,099
- Current portion of long-term debt -€1,409
down €1,409 (-22.3%), from €6,307 to €4,897
- Tax, wage and social debts +€1,274
up €1,274 (+31.1%), from €4,091 to €5,365
- Gross operating margin +€6,968
up €6,968 (+87.9%), from €7,930 to €14,898
- Depreciation -€3,568
down €3,568 (-31.5%), from €11,342 to €7,774
- Taxes -€1,656
no longer reported in 2025 (was €1,656)
- Financial income +€677
up €677 (+1,519%), from €45 to €721
- Financial charges +€565
up €565 (+34.1%), from €1,659 to €2,224
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €90,153 | €94,343 | +€4,190 | +4.6% |
| Fixed assets | 21/28 | €21,701 | €14,340 | -€7,362 | -33.9% |
| Tangible fixed assets | 22/27 | €21,701 | €14,340 | -€7,362 | -33.9% |
| Land and buildings | 22 | €13,709 | €9,928 | -€3,781 | -27.6% |
| Plant, machinery and equipment | 23 | €4,485 | €3,625 | -€860 | -19.2% |
| Furniture and vehicles | 24 | €3,507 | €786 | -€2,720 | -77.6% |
| Current assets | 29/58 | €68,451 | €80,003 | +€11,552 | +16.9% |
| Stocks and contracts in progress | 3 | €64,903 | €74,003 | +€9,100 | +14.0% |
| Stocks | 30/36 | €64,903 | €74,003 | +€9,100 | +14.0% |
| Amounts receivable within one year | 40/41 | €1,390 | €1,205 | -€186 | -13.4% |
| Trade receivables | 40 | €1,390 | €1,205 | -€186 | -13.4% |
| Cash at bank and in hand | 54/58 | €2,159 | €4,796 | +€2,637 | +122% |
| Total equity and liabilities | 10/49 | €90,153 | €94,343 | +€4,190 | +4.6% |
| Equity | 10/15 | €24,020 | €27,974 | +€3,954 | +16.5% |
| Contributions | 10/11 | €19,069 | €19,069 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,951 | €8,905 | +€3,954 | +79.9% |
| Amounts payable | 17/49 | €66,132 | €66,369 | +€236 | +0.4% |
| Amounts payable after more than one year | 17 | €13,872 | €9,658 | -€4,215 | -30.4% |
| Financial debts | 170/4 | €13,872 | €9,658 | -€4,215 | -30.4% |
| Amounts payable within one year | 42/48 | €52,260 | €56,077 | +€3,816 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €6,307 | €4,897 | -€1,409 | -22.3% |
| Trade debts | 44 | €9,798 | €10,715 | +€917 | +9.4% |
| Suppliers | 440/4 | €9,798 | €10,715 | +€917 | +9.4% |
| Taxes, remuneration and social security | 45 | €4,091 | €5,365 | +€1,274 | +31.1% |
| Taxes | 450/3 | €4,091 | €5,365 | +€1,274 | +31.1% |
| Other amounts payable | 47/48 | €32,065 | €35,099 | +€3,035 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €634 | +€634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,342 | €7,774 | -€3,568 | -31.5% |
| Other operating charges | 640/8 | €1,296 | €1,668 | +€372 | +28.7% |
| Gross operating margin | 9900 | €7,930 | €14,898 | +€6,968 | +87.9% |
| Operating profit (loss) | 9901 | -€4,708 | €5,457 | +€10,165 | |
| Financial income | 75/76B | €45 | €721 | +€677 | +1,519% |
| Recurring financial income | 75 | €45 | €721 | +€677 | +1,519% |
| Financial charges | 65/66B | €1,659 | €2,224 | +€565 | +34.1% |
| Recurring financial charges | 65 | €1,659 | €2,224 | +€565 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | -€6,323 | €3,954 | +€10,277 | |
| Income taxes | 67/77 | €1,656 | - | -€1,656 | |
| Profit (loss) for the period | 9904 | -€7,978 | €3,954 | +€11,932 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,978 | €3,954 | +€11,932 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.