GENOVESE: 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.
What changed
GENOVESE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€62,211
2024 · -€16,711-€45,500
Equity
€45,896
2024 · €108,107-€62,211
Cash
€4,152
2024 · €12,407-€8,255
Balance sheet total
€1.6m
2024 · €2.1m-€512,381
Largest movements
Assets
- Tangible fixed assets -€308,510
down €308,510 (-43.9%), from €703,185 to €394,675
of which Land and buildings: -€281,274
- Receivables within one year -€191,508
down €191,508 (-91.6%), from €209,161 to €17,652
of which Other amounts receivable: -€208,508
Equity and liabilities
- Debts after one year -€914,720
down €914,720 (-51.5%), from €1.8m to €860,038
- Other debts +€420,239
up €420,239 (+489%), from €85,964 to €506,203
- Trade debts +€66,000
up €66,000 (+774%), from €8,532 to €74,532
- Short-term financial debts -€37,259
down €37,259 (-100%), from €37,259 to €0
- Tax, wage and social debts +€36,478
up €36,478 (+81.8%), from €44,584 to €81,063
of which Taxes: +€42,620
Income statement
- Turnover -€92,350
down €92,350 (-20.9%), from €442,350 to €350,000
- Services and other goods -€39,771
down €39,771 (-44.0%), from €90,334 to €50,563
- Staff costs +€7,361
up €7,361 (+2.3%), from €324,042 to €331,403
- Other operating income -€6,042
down €6,042 (-28.2%), from €21,407 to €15,365
- Other operating charges +€4,854
up €4,854 (+197%), from €2,470 to €7,324
From the 2024 result to the 2025 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.
Result 2024
-€16,711
Turnover
-€92,350
Other operating income
-€6,042
Services and other goods
+€39,771
Staff costs
-€7,361
Depreciation
+€4,610
Other operating charges
-€4,854
Other operating items
+€25,536
Financial income
-€190
Financial charges
-€4,212
Taxes
-€408
Result 2025
-€62,211
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€663,291
Investment
+€302,268
Financing
-€973,814
Cash 2024
€12,407
From operations (derived)
+€663,291
Net result for the year
-€62,211
Depreciation
+€9,996
Receivables within one year
+€191,508
Smaller working-capital items
+€1,281
Trade debts
+€66,000
Tax, wage and social debts
+€36,478
Other debts
+€420,239
Investment (derived)
+€302,268
Investment in fixed assets (net)
+€302,268
Financing
-€973,814
Debts after one year
-€914,720
Current portion of long-term debt
-€21,836
Short-term financial debts
-€37,259
Cash 2025
€4,152
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,123,058 | €1,610,677 | -€512,381 | -24.1% |
| Fixed assets | 21/28 | €1,901,007 | €1,588,743 | -€312,264 | -16.4% |
| Tangible fixed assets | 22/27 | €703,185 | €394,675 | -€308,510 | -43.9% |
| Land and buildings | 22 | €664,077 | €382,803 | -€281,274 | -42.4% |
| Furniture and vehicles | 24 | €22,603 | €636 | -€21,967 | -97.2% |
| Leasing and similar rights | 25 | €15,922 | €10,653 | -€5,269 | -33.1% |
| Other tangible fixed assets | 26 | €583 | €583 | = | 0.0% |
| Financial fixed assets | 28 | €1,197,823 | €1,194,068 | -€3,754 | -0.3% |
| Affiliated companies | 280/1 | €1,191,529 | €1,191,529 | = | 0.0% |
| Participating interests | 280 | €1,191,529 | €1,191,529 | = | 0.0% |
| Other financial fixed assets | 284/8 | €6,293 | €2,539 | -€3,754 | -59.7% |
| Amounts receivable and cash guarantees | 285/8 | €6,293 | €2,539 | -€3,754 | -59.7% |
| Current assets | 29/58 | €222,050 | €21,934 | -€200,117 | -90.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €209,161 | €17,652 | -€191,508 | -91.6% |
| Trade receivables | 40 | - | €17,000 | +€17,000 | |
| Other amounts receivable | 41 | €209,161 | €652 | -€208,508 | -99.7% |
| Cash at bank and in hand | 54/58 | €12,407 | €4,152 | -€8,255 | -66.5% |
| Deferred charges and accrued income | 490/1 | €482 | €129 | -€353 | -73.3% |
| Total equity and liabilities | 10/49 | €2,123,058 | €1,610,677 | -€512,381 | -24.1% |
| Equity | 10/15 | €108,107 | €45,896 | -€62,211 | -57.5% |
| Contributions | 10/11 | €72,000 | €72,000 | = | 0.0% |
| Capital | 10 | €72,000 | €72,000 | = | 0.0% |
| Issued capital | 100 | €72,000 | €72,000 | = | 0.0% |
| Reserves | 13 | €36,107 | €7,200 | -€28,907 | -80.1% |
| Non-distributable reserves | 130/1 | €7,200 | €7,200 | = | 0.0% |
| Legal reserve | 130 | €7,200 | €7,200 | = | 0.0% |
| Distributable reserves | 133 | €28,907 | €0 | -€28,907 | -100% |
| Profit (loss) carried forward | 14 | - | -€33,304 | -€33,304 | |
| Amounts payable | 17/49 | €2,014,950 | €1,564,781 | -€450,170 | -22.3% |
| Amounts payable after more than one year | 17 | €1,774,758 | €860,038 | -€914,720 | -51.5% |
| Financial debts | 170/4 | €1,774,758 | €860,038 | -€914,720 | -51.5% |
| Leasing and similar obligations | 172 | €11,154 | €5,219 | -€5,934 | -53.2% |
| Credit institutions | 173 | €425,449 | €226,050 | -€199,398 | -46.9% |
| Other loans | 174 | €1,338,156 | €628,768 | -€709,387 | -53.0% |
| Amounts payable within one year | 42/48 | €240,129 | €703,752 | +€463,623 | +193% |
| Current portion of amounts payable after more than one year | 42 | €63,791 | €41,955 | -€21,836 | -34.2% |
| Financial debts | 43 | €37,259 | €0 | -€37,259 | -100% |
| Credit institutions | 430/8 | €37,259 | €0 | -€37,259 | -100% |
| Trade debts | 44 | €8,532 | €74,532 | +€66,000 | +774% |
| Suppliers | 440/4 | €8,532 | €74,532 | +€66,000 | +774% |
| Taxes, remuneration and social security | 45 | €44,584 | €81,063 | +€36,478 | +81.8% |
| Taxes | 450/3 | €2,316 | €44,936 | +€42,620 | +1,840% |
| Remuneration and social security | 454/9 | €42,268 | €36,127 | -€6,141 | -14.5% |
| Other amounts payable | 47/48 | €85,964 | €506,203 | +€420,239 | +489% |
| Accrued charges and deferred income | 492/3 | €63 | €991 | +€927 | +1,461% |
| Operating income | 70/76A | €463,757 | €398,091 | -€65,666 | -14.2% |
| Turnover | 70 | €442,350 | €350,000 | -€92,350 | -20.9% |
| Other operating income | 74 | €21,407 | €15,365 | -€6,042 | -28.2% |
| Non-recurring operating income | 76A | €0 | €32,726 | +€32,726 | |
| Operating charges | 60/66A | €431,453 | €406,476 | -€24,976 | -5.8% |
| Services and other goods | 61 | €90,334 | €50,563 | -€39,771 | -44.0% |
| Remuneration, social security and pensions | 62 | €324,042 | €331,403 | +€7,361 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,607 | €9,996 | -€4,610 | -31.6% |
| Other operating charges | 640/8 | €2,470 | €7,324 | +€4,854 | +197% |
| Non-recurring operating charges | 66A | - | €7,190 | +€7,190 | |
| Operating profit (loss) | 9901 | €32,304 | -€8,385 | -€40,690 | |
| Financial income | 75/76B | €196 | €6 | -€190 | -96.9% |
| Recurring financial income | 75 | €196 | €6 | -€190 | -96.9% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Other financial income | 752/9 | €196 | €6 | -€190 | -96.9% |
| Financial charges | 65/66B | €48,534 | €52,746 | +€4,212 | +8.7% |
| Recurring financial charges | 65 | €48,534 | €52,746 | +€4,212 | +8.7% |
| Debt charges | 650 | €46,896 | €50,049 | +€3,153 | +6.7% |
| Other financial charges | 652/9 | €1,638 | €2,697 | +€1,059 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,033 | -€61,125 | -€45,092 | -281% |
| Income taxes | 67/77 | €678 | €1,086 | +€408 | +60.2% |
| Taxes | 670/3 | €678 | €1,086 | +€408 | +60.2% |
| Profit (loss) for the period | 9904 | -€16,711 | -€62,211 | -€45,500 | -272% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,711 | -€62,211 | -€45,500 | -272% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.