GERMA: 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.
GERMA
Largest movements
- Current investments +€100,000
up €100,000 (+66.7%), from €150,000 to €250,000
- Receivables within one year -€36,324
down €36,324 (-25.5%), from €142,666 to €106,341
of which Trade receivables: -€44,086
- Cash -€23,992
down €23,992 (-32.2%), from €74,550 to €50,558
mainly Current investments (-€100,000) and Tax, wage and social debts (-€14,778)
- Reserves +€56,617
up €56,617 (+16.2%), from €348,925 to €405,542
- Tax, wage and social debts -€14,778
down €14,778 (-50.6%), from €29,196 to €14,418
- Gross operating margin -€39,716
down €39,716 (-31.1%), from €127,550 to €87,834
- Taxes -€12,837
down €12,837 (-29.3%), from €43,787 to €30,950
- Financial income +€2,287
up €2,287 (+404.8%), from €565 to €2,852
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 | €401,258 | €440,177 | +€38,919 | +9.7% |
| Fixed assets | 21/28 | €4,516 | €3,233 | -€1,284 | -28.4% |
| Tangible fixed assets | 22/27 | €4,516 | €3,233 | -€1,284 | -28.4% |
| Furniture and vehicles | 24 | €4,516 | €3,233 | -€1,284 | -28.4% |
| Current assets | 29/58 | €396,742 | €436,945 | +€40,203 | +10.1% |
| Stocks and contracts in progress | 3 | €29,526 | €29,202 | -€324 | -1.1% |
| Stocks | 30/36 | €29,526 | €29,202 | -€324 | -1.1% |
| Amounts receivable within one year | 40/41 | €142,666 | €106,341 | -€36,324 | -25.5% |
| Trade receivables | 40 | €142,666 | €98,580 | -€44,086 | -30.9% |
| Other amounts receivable | 41 | - | €7,762 | +€7,762 | |
| Current investments | 50/53 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €74,550 | €50,558 | -€23,992 | -32.2% |
| Deferred charges and accrued income | 490/1 | - | €843 | +€843 | |
| Total equity and liabilities | 10/49 | €401,258 | €440,177 | +€38,919 | +9.7% |
| Equity | 10/15 | €367,517 | €424,134 | +€56,617 | +15.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €348,925 | €405,542 | +€56,617 | +16.2% |
| Distributable reserves | 133 | €348,925 | €405,542 | +€56,617 | +16.2% |
| Amounts payable | 17/49 | €33,741 | €16,043 | -€17,698 | -52.5% |
| Amounts payable within one year | 42/48 | €33,741 | €16,043 | -€17,698 | -52.5% |
| Financial debts | 43 | - | €659 | +€659 | |
| Other loans | 439 | - | €659 | +€659 | |
| Trade debts | 44 | €2,819 | €966 | -€1,853 | -65.7% |
| Suppliers | 440/4 | €2,819 | €966 | -€1,853 | -65.7% |
| Taxes, remuneration and social security | 45 | €29,196 | €14,418 | -€14,778 | -50.6% |
| Taxes | 450/3 | €29,196 | €14,418 | -€14,778 | -50.6% |
| Other amounts payable | 47/48 | €1,726 | €0 | -€1,726 | -100.0% |
| Non-recurring operating income | 76A | €500 | €0 | -€500 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €598 | +€598 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,119 | €1,284 | +€164 | +14.7% |
| Other operating charges | 640/8 | €1,420 | €1,213 | -€207 | -14.6% |
| Gross operating margin | 9900 | €127,550 | €87,834 | -€39,716 | -31.1% |
| Operating profit (loss) | 9901 | €125,010 | €84,739 | -€40,271 | -32.2% |
| Financial income | 75/76B | €565 | €2,852 | +€2,287 | +404.8% |
| Recurring financial income | 75 | €565 | €2,852 | +€2,287 | +404.8% |
| Financial charges | 65/66B | €69 | €24 | -€45 | -64.6% |
| Recurring financial charges | 65 | €69 | €24 | -€45 | -64.6% |
| Profit (loss) for the period before taxes | 9903 | €125,506 | €87,567 | -€37,939 | -30.2% |
| Income taxes | 67/77 | €43,787 | €30,950 | -€12,837 | -29.3% |
| Profit (loss) for the period | 9904 | €81,719 | €56,617 | -€25,102 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,719 | €56,617 | -€25,102 | -30.7% |
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 28 September 2026 via checked.be.