GEMI: 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.
GEMI
Largest movements
- Tangible fixed assets +€20,074
up €20,074 (+23.2%), from €86,645 to €106,719
of which Assets under construction and advance payments: +€12,011
- Cash -€6,469
down €6,469 (-43.1%), from €14,999 to €8,530
mainly Net result for the year (-€202,970) and Investment in fixed assets (net) (-€32,245)
- Receivables within one year -€4,056
down €4,056 (-58.3%), from €6,959 to €2,904
of which Other amounts receivable: -€4,483
- Deferred charges and accrued income -€1,727
down €1,727 (-84.1%), from €2,055 to €328
- Profit (loss) carried forward -€202,970
down €202,970 (-794.5%), from -€25,547 to -€228,516
- Other debts +€86,223
up €86,223 (+370.8%), from €23,254 to €109,477
- Trade debts +€81,225
up €81,225 (+132.1%), from €61,465 to €142,690
- Tax, wage and social debts +€26,601
new in 2024: €26,601
of which Remuneration and social security: +€18,068
- Debts after one year +€26,538
up €26,538 (+388.9%), from €6,824 to €33,363
- Staff costs +€376,450
up €376,450 (+99005.9%), from €380 to €376,831
- Gross operating margin +€205,772
up €205,772, from -€7,984 to €197,787
- Depreciation +€6,819
up €6,819 (+127.4%), from €5,351 to €12,171
- Other operating charges +€5,686
up €5,686 (+560.0%), from €1,015 to €6,702
- Financial charges +€3,842
up €3,842 (+302.9%), from €1,268 to €5,110
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 | €116,375 | €124,871 | +€8,496 | +7.3% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €86,645 | €106,719 | +€20,074 | +23.2% |
| Tangible fixed assets | 22/27 | €86,645 | €106,719 | +€20,074 | +23.2% |
| Land and buildings | 22 | €47,000 | €58,890 | +€11,890 | +25.3% |
| Plant, machinery and equipment | 23 | €34,676 | €31,862 | -€2,814 | -8.1% |
| Furniture and vehicles | 24 | €676 | €338 | -€338 | -50.0% |
| Other tangible fixed assets | 26 | €4,293 | €3,618 | -€675 | -15.7% |
| Assets under construction and advance payments | 27 | - | €12,011 | +€12,011 | |
| Current assets | 29/58 | €29,730 | €18,152 | -€11,578 | -38.9% |
| Stocks and contracts in progress | 3 | €5,716 | €6,390 | +€674 | +11.8% |
| Stocks | 30/36 | €5,716 | €6,390 | +€674 | +11.8% |
| Amounts receivable within one year | 40/41 | €6,959 | €2,904 | -€4,056 | -58.3% |
| Trade receivables | 40 | €225 | €652 | +€427 | +189.9% |
| Other amounts receivable | 41 | €6,734 | €2,251 | -€4,483 | -66.6% |
| Cash at bank and in hand | 54/58 | €14,999 | €8,530 | -€6,469 | -43.1% |
| Deferred charges and accrued income | 490/1 | €2,055 | €328 | -€1,727 | -84.1% |
| Total equity and liabilities | 10/49 | €116,375 | €124,871 | +€8,496 | +7.3% |
| Equity | 10/15 | €15,711 | -€187,259 | -€202,970 | |
| Contributions | 10/11 | €35,057 | €35,057 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,547 | -€228,516 | -€202,970 | -794.5% |
| Amounts payable | 17/49 | €100,664 | €312,130 | +€211,465 | +210.1% |
| Amounts payable after more than one year | 17 | €6,824 | €33,363 | +€26,538 | +388.9% |
| Financial debts | 170/4 | €6,824 | €33,363 | +€26,538 | +388.9% |
| Amounts payable within one year | 42/48 | €91,190 | €278,767 | +€187,577 | +205.7% |
| Financial debts | 43 | €6,471 | - | -€6,471 | |
| Credit institutions | 430/8 | €6,471 | - | -€6,471 | |
| Trade debts | 44 | €61,465 | €142,690 | +€81,225 | +132.1% |
| Suppliers | 440/4 | €61,465 | €142,690 | +€81,225 | +132.1% |
| Taxes, remuneration and social security | 45 | - | €26,601 | +€26,601 | |
| Taxes | 450/3 | - | €8,533 | +€8,533 | |
| Remuneration and social security | 454/9 | - | €18,068 | +€18,068 | |
| Other amounts payable | 47/48 | €23,254 | €109,477 | +€86,223 | +370.8% |
| Accrued charges and deferred income | 492/3 | €2,650 | - | -€2,650 | |
| Remuneration, social security and pensions | 62 | €380 | €376,831 | +€376,450 | +99005.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,351 | €12,171 | +€6,819 | +127.4% |
| Other operating charges | 640/8 | €1,015 | €6,702 | +€5,686 | +560.0% |
| Gross operating margin | 9900 | -€7,984 | €197,787 | +€205,772 | |
| Operating profit (loss) | 9901 | -€14,731 | -€197,916 | -€183,185 | -1243.5% |
| Financial income | 75/76B | - | €56 | +€56 | |
| Recurring financial income | 75 | - | €56 | +€56 | |
| Financial charges | 65/66B | €1,268 | €5,110 | +€3,842 | +302.9% |
| Recurring financial charges | 65 | €1,268 | €5,110 | +€3,842 | +302.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,000 | -€202,970 | -€186,970 | -1168.6% |
| Profit (loss) for the period | 9904 | -€16,000 | -€202,970 | -€186,970 | -1168.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,000 | -€202,970 | -€186,970 | -1168.6% |
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 1 October 2026 via checked.be.