GERMURO: 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.
GERMURO
Largest movements
- Cash +€67,104
up €67,104 (+324.9%), from €20,654 to €87,758
mainly Net result for the year (+€121,402) and Other debts (+€62,306)
- Deferred charges and accrued income -€17,882
down €17,882 (-40.4%), from €44,269 to €26,387
- Receivables within one year -€10,046
down €10,046 (-24.9%), from €40,420 to €30,374
of which Other amounts receivable: -€13,934
- Tangible fixed assets +€1,532
up €1,532 (+28.3%), from €5,418 to €6,950
- Other debts +€62,306
up €62,306 (+87.5%), from €71,185 to €133,491
- Tax, wage and social debts -€14,845
no longer reported in 2024 (was €14,845)
of which Remuneration and social security: -€9,435
- Accrued charges and deferred income -€6,906
down €6,906 (-58.3%), from €11,843 to €4,936
- Gross operating margin +€86,462
up €86,462 (+78.2%), from €110,549 to €197,011
- Taxes +€23,934
up €23,934 (+135.8%), from €17,620 to €41,555
- Staff costs -€9,206
down €9,206 (-24.1%), from €38,154 to €28,948
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 | €110,941 | €151,648 | +€40,707 | +36.7% |
| Fixed assets | 21/28 | €5,598 | €7,130 | +€1,532 | +27.4% |
| Tangible fixed assets | 22/27 | €5,418 | €6,950 | +€1,532 | +28.3% |
| Furniture and vehicles | 24 | €5,418 | €6,950 | +€1,532 | +28.3% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €105,343 | €144,519 | +€39,175 | +37.2% |
| Amounts receivable within one year | 40/41 | €40,420 | €30,374 | -€10,046 | -24.9% |
| Trade receivables | 40 | €18,040 | €21,928 | +€3,888 | +21.6% |
| Other amounts receivable | 41 | €22,380 | €8,445 | -€13,934 | -62.3% |
| Cash at bank and in hand | 54/58 | €20,654 | €87,758 | +€67,104 | +324.9% |
| Deferred charges and accrued income | 490/1 | €44,269 | €26,387 | -€17,882 | -40.4% |
| Total equity and liabilities | 10/49 | €110,941 | €151,648 | +€40,707 | +36.7% |
| Equity | 10/15 | €11,832 | €12,234 | +€402 | +3.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,772 | €4,174 | +€402 | +10.6% |
| Amounts payable | 17/49 | €99,109 | €139,415 | +€40,305 | +40.7% |
| Amounts payable within one year | 42/48 | €87,267 | €134,479 | +€47,212 | +54.1% |
| Trade debts | 44 | €1,237 | €988 | -€249 | -20.1% |
| Suppliers | 440/4 | €1,237 | €988 | -€249 | -20.1% |
| Taxes, remuneration and social security | 45 | €14,845 | - | -€14,845 | |
| Taxes | 450/3 | €5,410 | - | -€5,410 | |
| Remuneration and social security | 454/9 | €9,435 | - | -€9,435 | |
| Other amounts payable | 47/48 | €71,185 | €133,491 | +€62,306 | +87.5% |
| Accrued charges and deferred income | 492/3 | €11,843 | €4,936 | -€6,906 | -58.3% |
| Remuneration, social security and pensions | 62 | €38,154 | €28,948 | -€9,206 | -24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,383 | €3,088 | -€295 | -8.7% |
| Other operating charges | 640/8 | €2,900 | €1,787 | -€1,113 | -38.4% |
| Non-recurring operating charges | 66A | - | €18 | +€18 | |
| Gross operating margin | 9900 | €110,549 | €197,011 | +€86,462 | +78.2% |
| Operating profit (loss) | 9901 | €66,112 | €163,170 | +€97,058 | +146.8% |
| Financial income | 75/76B | €21 | - | -€21 | |
| Recurring financial income | 75 | €21 | - | -€21 | |
| Financial charges | 65/66B | €501 | €213 | -€288 | -57.4% |
| Recurring financial charges | 65 | €501 | €213 | -€288 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €65,632 | €162,956 | +€97,325 | +148.3% |
| Income taxes | 67/77 | €17,620 | €41,555 | +€23,934 | +135.8% |
| Profit (loss) for the period | 9904 | €48,011 | €121,402 | +€73,390 | +152.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,011 | €121,402 | +€73,390 | +152.9% |
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 29 September 2026 via checked.be.