GEMO: 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.
GEMO
Largest movements
- Tangible fixed assets -€170,564
down €170,564 (-4.5%), from €3.8m to €3.6m
- Current assets -€162,429
down €162,429 (-18.2%), from €892,548 to €730,120
of which Cash: -€308,551
- Profit (loss) carried forward -€749,845
down €749,845 (-14.1%), from -€5.3m to -€6.1m
- Debts +€416,853
up €416,853 (+1,028%), from €40,537 to €457,390
- Gross operating margin -€92,586
down €92,586 (-81.2%), from -€113,952 to -€206,538
- Depreciation -€13,376
down €13,376 (-4.8%), from €280,483 to €267,107
From the 2020 result to the 2021 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,667,232 | €4,334,240 | -€332,992 | -7.1% |
| Fixed assets | 21/28 | €3,774,684 | €3,604,120 | -€170,564 | -4.5% |
| Tangible fixed assets | 22/27 | €3,774,684 | €3,604,120 | -€170,564 | -4.5% |
| Current assets | 29/58 | €892,548 | €730,120 | -€162,429 | -18.2% |
| Stocks and contracts in progress | 3 | €484,667 | €660,667 | +€176,000 | +36.3% |
| Amounts receivable within one year | 40/41 | €38,266 | €3,011 | -€35,254 | -92.1% |
| Cash at bank and in hand | 54/58 | €357,398 | €48,847 | -€308,551 | -86.3% |
| Total equity and liabilities | 10/49 | €4,667,232 | €4,334,240 | -€332,992 | -7.1% |
| Equity | 10/15 | €4,626,695 | €3,876,850 | -€749,845 | -16.2% |
| Contributions | 10/11 | €9,950,000 | €9,950,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,323,305 | -€6,073,150 | -€749,845 | -14.1% |
| Amounts payable | 17/49 | €40,537 | €457,390 | +€416,853 | +1,028% |
| Amounts payable within one year | 42/48 | €37,237 | €453,990 | +€416,753 | +1,119% |
| Trade debts | 44 | €19,612 | €11,486 | -€8,127 | -41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,483 | €267,107 | -€13,376 | -4.8% |
| Gross operating margin | 9900 | -€113,952 | -€206,538 | -€92,586 | -81.2% |
| Operating profit (loss) | 9901 | -€631,145 | -€749,569 | -€118,424 | -18.8% |
| Recurring financial income | 75 | €6,225 | €940 | -€5,285 | -84.9% |
| Recurring financial charges | 65 | €483 | €1,216 | +€733 | +152% |
| Profit (loss) for the period before taxes | 9903 | -€625,404 | -€749,845 | -€124,441 | -19.9% |
| Profit (loss) for the period | 9904 | -€625,404 | -€749,845 | -€124,441 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€625,404 | -€749,845 | -€124,441 | -19.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.