The CHF3.86 million (£3.17 million/$3.9 million/€3.6 million) credit carried net profit for the year to CHF3.14 million (£2.6 million/$3.2 million/€3 million).

This compared with a budgeted profit of CHF1.38 million (£1.13 million/$1.4 million/€1.3 million) and a 2018 profit of CHF939,000 (£780,000/$962,000/€891,000).

The most recent profit might have been bigger but for CHF2.2 million (£1.8 million/$2.2 million/€2.1 million) of exceptional expenses.

The exceptionally slender, six-page financial report that FIG now publishes includes no notes, so the reason for those one-off costs is unexplained too.

Income for the year totalled CHF16.65 million (£13.83 million/$17.06 million/€15.81 million), the vast majority attributed to unspecified events.

Expenses amounted to CHF15.5 million (£12.7 million/$15.6 million/€14.6 million), leaving an operating profit of just under CHF1.1 million (£902,000/$1.1 million/€1 million).

Other than event costs, the main expense was administration at CHF4.55 million (£3.78 million/$4.6 million/€4.3 million).

A category labelled “development/other” weighed in at CHF2.52 million (£2.09 million/$2.58 million/€2.39 million).

Gymnastics sits alongside aquatics and athletics in the top tier of sports for the purposes of Olympic Games-related payments by the International Olympic Committee (IOC).

These payments make up a big chunk, thought to be around half, of the federation’s quadrennial operating income.

With total assets of CHF47.65 million (£39 million/$48 million/€44.8 million), down from CHF52 million (£43.2 million/$53.3 million/€49.4 million) at end-2018, and CHF26 million (£21.6 million/$26.6 million/€24.7 million) of reserves, however, FIG looks to have a reasonable cushion to help it ride out the crisis triggered by the coronavirus pandemic.

The balance sheet also includes CHF19.4 million (£16.1 million/$19.8 million/€18.4 million) of property.

In 2019, FIG made a net profit of CHF478,000 (£397,000/$490,000/€454,000) from building rental income.