GEMA CONCEPT: 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.
GEMA CONCEPT
Largest movements
- Receivables within one year -€92,804
down €92,804 (-67.1%), from €138,225 to €45,421
of which Trade receivables: -€58,349
- Cash -€81,567
down €81,567 (-24.8%), from €328,359 to €246,792
mainly Contributions, distributions and other (-€133,458) and Trade debts (-€56,512)
- Tangible fixed assets +€8,446
up €8,446 (+6.8%), from €123,313 to €131,759
of which Furniture and vehicles: +€17,884
- Reserves -€101,025
down €101,025 (-31.4%), from €321,343 to €220,318
of which Distributable reserves: -€101,025
- Trade debts -€56,512
down €56,512 (-78.3%), from €72,136 to €15,624
- Tax, wage and social debts -€7,559
down €7,559 (-30.4%), from €24,887 to €17,328
of which Taxes: -€7,559
- Current portion of long-term debt +€6,580
up €6,580 (+32.9%), from €20,022 to €26,602
- Debts after one year -€6,067
down €6,067 (-5.0%), from €121,995 to €115,928
- Gross operating margin -€12,521
down €12,521 (-13.1%), from €95,790 to €83,269
- Depreciation +€4,991
up €4,991 (+23.6%), from €21,183 to €26,174
- Taxes -€1,933
down €1,933 (-9.5%), from €20,433 to €18,500
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 | €597,260 | €428,144 | -€169,115 | -28.3% |
| Fixed assets | 21/28 | €125,308 | €134,054 | +€8,746 | +7.0% |
| Tangible fixed assets | 22/27 | €123,313 | €131,759 | +€8,446 | +6.8% |
| Land and buildings | 22 | €94,500 | €84,000 | -€10,500 | -11.1% |
| Plant, machinery and equipment | 23 | €833 | €1,894 | +€1,062 | +128% |
| Furniture and vehicles | 24 | €27,981 | €45,865 | +€17,884 | +63.9% |
| Financial fixed assets | 28 | €1,995 | €2,295 | +€300 | +15.0% |
| Current assets | 29/58 | €471,951 | €294,090 | -€177,861 | -37.7% |
| Amounts receivable within one year | 40/41 | €138,225 | €45,421 | -€92,804 | -67.1% |
| Trade receivables | 40 | €103,770 | €45,421 | -€58,349 | -56.2% |
| Other amounts receivable | 41 | €34,455 | €0 | -€34,455 | -100% |
| Cash at bank and in hand | 54/58 | €328,359 | €246,792 | -€81,567 | -24.8% |
| Deferred charges and accrued income | 490/1 | €5,367 | €1,876 | -€3,491 | -65.0% |
| Total equity and liabilities | 10/49 | €597,260 | €428,144 | -€169,115 | -28.3% |
| Equity | 10/15 | €327,543 | €226,518 | -€101,025 | -30.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €321,343 | €220,318 | -€101,025 | -31.4% |
| 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 | €319,483 | €218,458 | -€101,025 | -31.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €269,717 | €201,626 | -€68,090 | -25.2% |
| Amounts payable after more than one year | 17 | €121,995 | €115,928 | -€6,067 | -5.0% |
| Financial debts | 170/4 | €121,995 | €115,928 | -€6,067 | -5.0% |
| Amounts payable within one year | 42/48 | €118,417 | €60,927 | -€57,491 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €20,022 | €26,602 | +€6,580 | +32.9% |
| Trade debts | 44 | €72,136 | €15,624 | -€56,512 | -78.3% |
| Suppliers | 440/4 | €72,136 | €15,624 | -€56,512 | -78.3% |
| Advances received on contracts in progress | 46 | €1,373 | €1,373 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €24,887 | €17,328 | -€7,559 | -30.4% |
| Taxes | 450/3 | €21,000 | €13,441 | -€7,559 | -36.0% |
| Remuneration and social security | 454/9 | €3,887 | €3,887 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €29,304 | €24,771 | -€4,533 | -15.5% |
| Non-recurring operating income | 76A | €3,012 | €6,051 | +€3,039 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,183 | €26,174 | +€4,991 | +23.6% |
| Other operating charges | 640/8 | €2,656 | €2,943 | +€287 | +10.8% |
| Gross operating margin | 9900 | €95,790 | €83,269 | -€12,521 | -13.1% |
| Operating profit (loss) | 9901 | €71,952 | €54,153 | -€17,799 | -24.7% |
| Financial income | 75/76B | €2,821 | €2,450 | -€370 | -13.1% |
| Recurring financial income | 75 | €2,821 | €1,380 | -€1,441 | -51.1% |
| Non-recurring financial income | 76B | - | €1,070 | +€1,070 | |
| Financial charges | 65/66B | €6,248 | €5,670 | -€578 | -9.2% |
| Recurring financial charges | 65 | €6,248 | €5,670 | -€578 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €68,525 | €50,933 | -€17,592 | -25.7% |
| Income taxes | 67/77 | €20,433 | €18,500 | -€1,933 | -9.5% |
| Profit (loss) for the period | 9904 | €48,092 | €32,433 | -€15,659 | -32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,092 | €32,433 | -€15,659 | -32.6% |
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 24 October 2026 via checked.be.