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
- Current investments +€929,620
new in 2025: €929,620
- Receivables within one year +€37,808
up €37,808 (+78.1%), from €48,405 to €86,214
of which Other amounts receivable: +€23,650
- Cash +€31,702
up €31,702 (+252.0%), from €12,582 to €44,284
mainly Net result for the year (+€936,483) and Tax, wage and social debts (+€65,900)
- Reserves +€907,483
up €907,483 (+1142.4%), from €79,435 to €986,918
of which Distributable reserves: +€907,483
- Tax, wage and social debts +€65,900
up €65,900 (+204.6%), from €32,202 to €98,102
of which Taxes: +€75,900
- Other debts +€25,399
up €25,399 (+705.4%), from €3,601 to €29,000
- Gross operating margin +€1.4m
up €1.4m (+3370.7%), from €42,360 to €1.5m
- Taxes +€450,161
up €450,161 (+3689.3%), from €12,202 to €462,363
- Financial charges +€56,606
up €56,606 (+21420.4%), from €264 to €56,870
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.
Cash bridge derived
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 | €126,438 | €1,131,544 | +€1.0m | +794.9% |
| Fixed assets | 21/28 | €63,995 | €69,073 | +€5,078 | +7.9% |
| Tangible fixed assets | 22/27 | €61,495 | €66,573 | +€5,078 | +8.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €54,848 | €56,856 | +€2,007 | +3.7% |
| Other tangible fixed assets | 26 | €6,647 | €9,718 | +€3,070 | +46.2% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €62,443 | €1,062,471 | +€1.0m | +1601.5% |
| Amounts receivable within one year | 40/41 | €48,405 | €86,214 | +€37,808 | +78.1% |
| Trade receivables | 40 | €47,854 | €62,013 | +€14,158 | +29.6% |
| Other amounts receivable | 41 | €551 | €24,201 | +€23,650 | +4291.2% |
| Current investments | 50/53 | - | €929,620 | +€929,620 | |
| Cash at bank and in hand | 54/58 | €12,582 | €44,284 | +€31,702 | +252.0% |
| Deferred charges and accrued income | 490/1 | €1,455 | €2,354 | +€899 | +61.7% |
| Total equity and liabilities | 10/49 | €126,438 | €1,131,544 | +€1.0m | +794.9% |
| Equity | 10/15 | €85,635 | €993,118 | +€907,483 | +1059.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,435 | €986,918 | +€907,483 | +1142.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €79,435 | €986,918 | +€907,483 | +1142.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €40,803 | €138,426 | +€97,623 | +239.3% |
| Amounts payable within one year | 42/48 | €40,803 | €138,426 | +€97,623 | +239.3% |
| Financial debts | 43 | €2,850 | €7,645 | +€4,795 | +168.2% |
| Credit institutions | 430/8 | €2,850 | €7,645 | +€4,795 | +168.2% |
| Trade debts | 44 | €2,150 | €3,679 | +€1,529 | +71.1% |
| Suppliers | 440/4 | €2,150 | €3,679 | +€1,529 | +71.1% |
| Taxes, remuneration and social security | 45 | €32,202 | €98,102 | +€65,900 | +204.6% |
| Taxes | 450/3 | €22,202 | €98,102 | +€75,900 | +341.9% |
| Remuneration and social security | 454/9 | €10,000 | €0 | -€10,000 | -100.0% |
| Other amounts payable | 47/48 | €3,601 | €29,000 | +€25,399 | +705.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,090 | €14,019 | +€9,930 | +242.8% |
| Other operating charges | 640/8 | €743 | €806 | +€62 | +8.4% |
| Gross operating margin | 9900 | €42,360 | €1,470,216 | +€1.4m | +3370.7% |
| Operating profit (loss) | 9901 | €37,527 | €1,455,391 | +€1.4m | +3778.2% |
| Financial income | 75/76B | €123 | €325 | +€202 | +163.3% |
| Recurring financial income | 75 | €123 | €325 | +€202 | +163.3% |
| Financial charges | 65/66B | €264 | €56,870 | +€56,606 | +21420.4% |
| Recurring financial charges | 65 | €264 | €56,870 | +€56,606 | +21420.4% |
| Profit (loss) for the period before taxes | 9903 | €37,386 | €1,398,846 | +€1.4m | +3641.6% |
| Income taxes | 67/77 | €12,202 | €462,363 | +€450,161 | +3689.3% |
| Profit (loss) for the period | 9904 | €25,185 | €936,483 | +€911,298 | +3618.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,185 | €936,483 | +€911,298 | +3618.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.