GEMA: 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.
GEMA
Largest movements
- Stocks and contracts -€200,671
down €200,671 (-10.6%), from €1.9m to €1.7m
- Cash +€65,166
up €65,166 (+55.0%), from €118,552 to €183,718
mainly Depreciation (+€276,890) and Net result for the year (+€218,479)
- Tangible fixed assets +€63,964
up €63,964 (+3.4%), from €1.9m to €1.9m
of which Leasing and similar rights: +€204,841
- Reserves +€218,479
up €218,479 (+11.8%), from €1.9m to €2.1m
of which Distributable reserves: +€153,479
- Other debts -€160,000
down €160,000 (-41.6%), from €385,000 to €225,000
- Trade debts -€102,298
down €102,298 (-26.9%), from €380,265 to €277,967
- Current portion of long-term debt +€53,901
up €53,901 (+18.6%), from €289,300 to €343,201
- Debts after one year -€52,962
down €52,962 (-4.6%), from €1.2m to €1.1m
- Gross operating margin -€250,810
down €250,810 (-11.4%), from €2.2m to €1.9m
- Staff costs -€88,672
down €88,672 (-6.4%), from €1.4m to €1.3m
- Taxes -€71,559
down €71,559 (-56.3%), from €127,149 to €55,590
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 | €4,362,420 | €4,278,155 | -€84,265 | -1.9% |
| Fixed assets | 21/28 | €1,880,823 | €1,944,787 | +€63,964 | +3.4% |
| Tangible fixed assets | 22/27 | €1,880,798 | €1,944,762 | +€63,964 | +3.4% |
| Land and buildings | 22 | €1,190,639 | €1,113,408 | -€77,231 | -6.5% |
| Plant, machinery and equipment | 23 | €528,552 | €419,384 | -€109,168 | -20.7% |
| Furniture and vehicles | 24 | €31,743 | €77,265 | +€45,523 | +143.4% |
| Leasing and similar rights | 25 | €129,864 | €334,705 | +€204,841 | +157.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €2,481,597 | €2,333,368 | -€148,229 | -6.0% |
| Stocks and contracts in progress | 3 | €1,895,723 | €1,695,052 | -€200,671 | -10.6% |
| Stocks | 30/36 | €1,895,723 | €1,695,052 | -€200,671 | -10.6% |
| Amounts receivable within one year | 40/41 | €458,983 | €447,391 | -€11,591 | -2.5% |
| Trade receivables | 40 | €458,019 | €419,468 | -€38,551 | -8.4% |
| Other amounts receivable | 41 | €963 | €27,923 | +€26,960 | +2798.5% |
| Cash at bank and in hand | 54/58 | €118,552 | €183,718 | +€65,166 | +55.0% |
| Deferred charges and accrued income | 490/1 | €8,339 | €7,206 | -€1,132 | -13.6% |
| Total equity and liabilities | 10/49 | €4,362,420 | €4,278,155 | -€84,265 | -1.9% |
| Equity | 10/15 | €1,870,956 | €2,088,435 | +€217,479 | +11.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,850,653 | €2,069,132 | +€218,479 | +11.8% |
| Tax-exempt reserves | 132 | €53,750 | €118,750 | +€65,000 | +120.9% |
| Distributable reserves | 133 | €1,796,903 | €1,950,382 | +€153,479 | +8.5% |
| Investment grants | 15 | €1,710 | €710 | -€1,000 | -58.5% |
| Amounts payable | 17/49 | €2,491,464 | €2,189,720 | -€301,744 | -12.1% |
| Amounts payable after more than one year | 17 | €1,153,667 | €1,100,705 | -€52,962 | -4.6% |
| Financial debts | 170/4 | €1,153,667 | €1,100,705 | -€52,962 | -4.6% |
| Amounts payable within one year | 42/48 | €1,329,598 | €1,082,015 | -€247,582 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €289,300 | €343,201 | +€53,901 | +18.6% |
| Trade debts | 44 | €380,265 | €277,967 | -€102,298 | -26.9% |
| Suppliers | 440/4 | €380,265 | €277,967 | -€102,298 | -26.9% |
| Taxes, remuneration and social security | 45 | €275,032 | €235,846 | -€39,186 | -14.2% |
| Taxes | 450/3 | €113,987 | €93,913 | -€20,074 | -17.6% |
| Remuneration and social security | 454/9 | €161,045 | €141,933 | -€19,112 | -11.9% |
| Other amounts payable | 47/48 | €385,000 | €225,000 | -€160,000 | -41.6% |
| Accrued charges and deferred income | 492/3 | €8,200 | €7,000 | -€1,200 | -14.6% |
| Non-recurring operating income | 76A | - | €65,000 | +€65,000 | |
| Remuneration, social security and pensions | 62 | €1,391,521 | €1,302,850 | -€88,672 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €267,205 | €276,890 | +€9,685 | +3.6% |
| Other operating charges | 640/8 | €75,934 | €88,771 | +€12,837 | +16.9% |
| Gross operating margin | 9900 | €2,194,587 | €1,943,777 | -€250,810 | -11.4% |
| Operating profit (loss) | 9901 | €459,926 | €275,267 | -€184,660 | -40.1% |
| Financial income | 75/76B | €90,299 | €80,641 | -€9,658 | -10.7% |
| Recurring financial income | 75 | €90,299 | €80,641 | -€9,658 | -10.7% |
| Financial charges | 65/66B | €87,577 | €81,838 | -€5,739 | -6.6% |
| Recurring financial charges | 65 | €87,577 | €81,838 | -€5,739 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €462,649 | €274,069 | -€188,580 | -40.8% |
| Income taxes | 67/77 | €127,149 | €55,590 | -€71,559 | -56.3% |
| Profit (loss) for the period | 9904 | €335,499 | €218,479 | -€117,020 | -34.9% |
| Transfer to tax-exempt reserves | 689 | - | €65,000 | +€65,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €335,499 | €153,479 | -€182,020 | -54.3% |
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 28 September 2026 via checked.be.