GEMAX: 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.
GEMAX
Largest movements
- Tangible fixed assets +€34,769
up €34,769 (+801%), from €4,341 to €39,110
of which Furniture and vehicles: +€35,715
- Receivables within one year +€2,206
up €2,206 (+141%), from €1,564 to €3,770
- Cash +€1,949
up €1,949 (+79.7%), from €2,444 to €4,393
mainly Debts after one year (+€17,711) and Net result for the year (+€10,030)
- Deferred charges and accrued income +€1,894
new in 2024: €1,894
- Debts after one year +€17,711
new in 2024: €17,711
- Profit (loss) carried forward +€10,030
up €10,030 (+80.4%), from -€12,475 to -€2,445
- Other debts +€7,645
up €7,645 (+70.4%), from €10,854 to €18,499
- Current portion of long-term debt +€6,642
new in 2024: €6,642
- Tax, wage and social debts -€2,306
down €2,306 (-60.1%), from €3,837 to €1,531
- Gross operating margin +€8,511
up €8,511 (+79.6%), from €10,695 to €19,205
- Depreciation +€3,065
up €3,065 (+201%), from €1,525 to €4,590
- Other operating charges -€871
down €871 (-47.4%), from €1,836 to €966
- Taxes -€657
down €657 (-18.3%), from €3,592 to €2,935
- Financial charges +€255
up €255 (+58.0%), from €440 to €695
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.
Derived cash bridge
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 | €20,816 | €61,437 | +€40,620 | +195% |
| Fixed assets | 21/28 | €4,341 | €39,110 | +€34,769 | +801% |
| Tangible fixed assets | 22/27 | €4,341 | €39,110 | +€34,769 | +801% |
| Plant, machinery and equipment | 23 | €4,341 | €3,395 | -€946 | -21.8% |
| Furniture and vehicles | 24 | - | €35,715 | +€35,715 | |
| Current assets | 29/58 | €16,475 | €22,327 | +€5,851 | +35.5% |
| Stocks and contracts in progress | 3 | €12,467 | €12,270 | -€197 | -1.6% |
| Stocks | 30/36 | €12,467 | €12,270 | -€197 | -1.6% |
| Amounts receivable within one year | 40/41 | €1,564 | €3,770 | +€2,206 | +141% |
| Trade receivables | 40 | €1,564 | €3,770 | +€2,206 | +141% |
| Cash at bank and in hand | 54/58 | €2,444 | €4,393 | +€1,949 | +79.7% |
| Deferred charges and accrued income | 490/1 | - | €1,894 | +€1,894 | |
| Total equity and liabilities | 10/49 | €20,816 | €61,437 | +€40,620 | +195% |
| Equity | 10/15 | €6,125 | €16,155 | +€10,030 | +164% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,475 | -€2,445 | +€10,030 | +80.4% |
| Amounts payable | 17/49 | €14,691 | €45,282 | +€30,590 | +208% |
| Amounts payable after more than one year | 17 | - | €17,711 | +€17,711 | |
| Financial debts | 170/4 | - | €17,711 | +€17,711 | |
| Amounts payable within one year | 42/48 | €14,691 | €27,571 | +€12,880 | +87.7% |
| Current portion of amounts payable after more than one year | 42 | - | €6,642 | +€6,642 | |
| Trade debts | 44 | - | €899 | +€899 | |
| Suppliers | 440/4 | - | €899 | +€899 | |
| Taxes, remuneration and social security | 45 | €3,837 | €1,531 | -€2,306 | -60.1% |
| Taxes | 450/3 | €3,837 | €1,531 | -€2,306 | -60.1% |
| Other amounts payable | 47/48 | €10,854 | €18,499 | +€7,645 | +70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,525 | €4,590 | +€3,065 | +201% |
| Other operating charges | 640/8 | €1,836 | €966 | -€871 | -47.4% |
| Gross operating margin | 9900 | €10,695 | €19,205 | +€8,511 | +79.6% |
| Operating profit (loss) | 9901 | €7,333 | €13,650 | +€6,317 | +86.1% |
| Financial income | 75/76B | €1 | €10 | +€9 | +1,041% |
| Recurring financial income | 75 | €1 | €10 | +€9 | +1,041% |
| Financial charges | 65/66B | €440 | €695 | +€255 | +58.0% |
| Recurring financial charges | 65 | €440 | €695 | +€255 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €6,894 | €12,965 | +€6,071 | +88.1% |
| Income taxes | 67/77 | €3,592 | €2,935 | -€657 | -18.3% |
| Profit (loss) for the period | 9904 | €3,302 | €10,030 | +€6,727 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €3,302 | €10,030 | +€6,727 | +204% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.