GEM DESIGN: 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.
GEM DESIGN
Largest movements
- Receivables after one year +€136,033
up €136,033 (+31.3%), from €435,095 to €571,128
- Cash -€104,460
down €104,460 (-85.6%), from €122,024 to €17,563
mainly Receivables after one year (-€136,033) and Trade debts (-€25,844)
- Stocks and contracts -€27,869
no longer reported in 2024 (was €27,869)
- Tangible fixed assets -€8,391
down €8,391 (-20.3%), from €41,394 to €33,002
- Advances received +€49,308
new in 2024: €49,308
- Trade debts -€25,844
down €25,844 (-75.9%), from €34,049 to €8,206
- Profit (loss) carried forward -€19,244
down €19,244 (-12.4%), from €155,420 to €136,175
- Other debts -€9,469
down €9,469 (-28.8%), from €32,930 to €23,461
- Gross operating margin -€151,332
down €151,332, from €125,057 to -€26,276
- Taxes -€17,285
down €17,285 (-95.9%), from €18,020 to €735
- Financial income +€8,558
up €8,558 (+77.0%), from €11,112 to €19,670
- Depreciation +€7,798
up €7,798 (+1314.4%), from €593 to €8,391
- Staff costs -€7,606
no longer reported in 2024 (was €7,606)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €654,035 | €648,786 | -€5,249 | -0.8% |
| Fixed assets | 21/28 | €41,394 | €33,002 | -€8,391 | -20.3% |
| Tangible fixed assets | 22/27 | €41,394 | €33,002 | -€8,391 | -20.3% |
| Furniture and vehicles | 24 | €41,394 | €33,002 | -€8,391 | -20.3% |
| Current assets | 29/58 | €612,642 | €615,783 | +€3,142 | +0.5% |
| Amounts receivable after more than one year | 29 | €435,095 | €571,128 | +€136,033 | +31.3% |
| Other amounts receivable | 291 | €435,095 | €571,128 | +€136,033 | +31.3% |
| Stocks and contracts in progress | 3 | €27,869 | - | -€27,869 | |
| Stocks | 30/36 | €27,869 | - | -€27,869 | |
| Amounts receivable within one year | 40/41 | €27,475 | €27,093 | -€383 | -1.4% |
| Trade receivables | 40 | €22,942 | €25,106 | +€2,164 | +9.4% |
| Other amounts receivable | 41 | €4,533 | €1,986 | -€2,547 | -56.2% |
| Cash at bank and in hand | 54/58 | €122,024 | €17,563 | -€104,460 | -85.6% |
| Deferred charges and accrued income | 490/1 | €179 | - | -€179 | |
| Total equity and liabilities | 10/49 | €654,035 | €648,786 | -€5,249 | -0.8% |
| Equity | 10/15 | €569,680 | €550,435 | -€19,244 | -3.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €401,860 | €401,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,420 | €136,175 | -€19,244 | -12.4% |
| Amounts payable | 17/49 | €84,355 | €98,350 | +€13,995 | +16.6% |
| Amounts payable within one year | 42/48 | €84,355 | €98,350 | +€13,995 | +16.6% |
| Trade debts | 44 | €34,049 | €8,206 | -€25,844 | -75.9% |
| Suppliers | 440/4 | €34,049 | €8,206 | -€25,844 | -75.9% |
| Advances received on contracts in progress | 46 | - | €49,308 | +€49,308 | |
| Taxes, remuneration and social security | 45 | €17,376 | €17,376 | = | 0.0% |
| Taxes | 450/3 | €17,376 | €17,376 | = | 0.0% |
| Other amounts payable | 47/48 | €32,930 | €23,461 | -€9,469 | -28.8% |
| Non-recurring operating income | 76A | €7,762 | - | -€7,762 | |
| Remuneration, social security and pensions | 62 | €7,606 | - | -€7,606 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €593 | €8,391 | +€7,798 | +1314.4% |
| Other operating charges | 640/8 | €1,315 | €1,127 | -€188 | -14.3% |
| Gross operating margin | 9900 | €125,057 | -€26,276 | -€151,332 | |
| Operating profit (loss) | 9901 | €115,542 | -€35,794 | -€151,336 | |
| Financial income | 75/76B | €11,112 | €19,670 | +€8,558 | +77.0% |
| Recurring financial income | 75 | €11,112 | €19,670 | +€8,558 | +77.0% |
| Financial charges | 65/66B | €4,230 | €2,385 | -€1,845 | -43.6% |
| Recurring financial charges | 65 | €4,230 | €2,385 | -€1,845 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | €122,424 | -€18,509 | -€140,933 | |
| Income taxes | 67/77 | €18,020 | €735 | -€17,285 | -95.9% |
| Profit (loss) for the period | 9904 | €104,404 | -€19,244 | -€123,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,404 | -€19,244 | -€123,648 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.