GHINST: 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.
GHINST
Largest movements
- Cash -€3,644
down €3,644 (-32.2%), from €11,324 to €7,680
mainly Contributions, distributions and other (-€8,400) and Other debts (-€5,600)
- Receivables within one year +€1,648
up €1,648 (+23.2%), from €7,116 to €8,764
of which Trade receivables: +€5,285
- Tangible fixed assets +€768
up €768 (+12.3%), from €6,249 to €7,017
of which Furniture and vehicles: +€1,576
- Other debts -€5,600
down €5,600 (-40.0%), from €14,000 to €8,400
- Tax, wage and social debts +€2,872
up €2,872 (+106%), from €2,704 to €5,576
- Profit (loss) carried forward +€1,697
up €1,697 (+60.9%), from €2,787 to €4,484
- Other operating charges +€14,140
up €14,140 (+1,172%), from €1,207 to €15,347
- Gross operating margin +€5,291
up €5,291 (+22.1%), from €23,889 to €29,180
- Depreciation -€2,251
down €2,251 (-55.7%), from €4,041 to €1,790
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,688 | €23,460 | -€1,228 | -5.0% |
| Fixed assets | 21/28 | €6,249 | €7,017 | +€768 | +12.3% |
| Tangible fixed assets | 22/27 | €6,249 | €7,017 | +€768 | +12.3% |
| Plant, machinery and equipment | 23 | €855 | €46 | -€808 | -94.6% |
| Furniture and vehicles | 24 | €5,394 | €6,970 | +€1,576 | +29.2% |
| Current assets | 29/58 | €18,440 | €16,443 | -€1,996 | -10.8% |
| Amounts receivable within one year | 40/41 | €7,116 | €8,764 | +€1,648 | +23.2% |
| Trade receivables | 40 | €25 | €5,310 | +€5,285 | +21,140% |
| Other amounts receivable | 41 | €7,091 | €3,454 | -€3,637 | -51.3% |
| Cash at bank and in hand | 54/58 | €11,324 | €7,680 | -€3,644 | -32.2% |
| Total equity and liabilities | 10/49 | €24,688 | €23,460 | -€1,228 | -5.0% |
| Equity | 10/15 | €7,787 | €9,484 | +€1,697 | +21.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,787 | €4,484 | +€1,697 | +60.9% |
| Amounts payable | 17/49 | €16,902 | €13,976 | -€2,926 | -17.3% |
| Amounts payable within one year | 42/48 | €16,902 | €13,976 | -€2,926 | -17.3% |
| Trade debts | 44 | €198 | €0 | -€198 | -100% |
| Suppliers | 440/4 | €198 | €0 | -€198 | -100% |
| Taxes, remuneration and social security | 45 | €2,704 | €5,576 | +€2,872 | +106% |
| Taxes | 450/3 | €2,704 | €5,576 | +€2,872 | +106% |
| Other amounts payable | 47/48 | €14,000 | €8,400 | -€5,600 | -40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,041 | €1,790 | -€2,251 | -55.7% |
| Other operating charges | 640/8 | €1,207 | €15,347 | +€14,140 | +1,172% |
| Gross operating margin | 9900 | €23,889 | €29,180 | +€5,291 | +22.1% |
| Operating profit (loss) | 9901 | €18,641 | €12,043 | -€6,598 | -35.4% |
| Financial income | 75/76B | €215 | €286 | +€71 | +32.9% |
| Recurring financial income | 75 | €215 | €286 | +€71 | +32.9% |
| Financial charges | 65/66B | €117 | €62 | -€55 | -46.8% |
| Recurring financial charges | 65 | €117 | €62 | -€55 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | €18,739 | €12,266 | -€6,473 | -34.5% |
| Income taxes | 67/77 | €1,952 | €2,169 | +€216 | +11.1% |
| Profit (loss) for the period | 9904 | €16,787 | €10,097 | -€6,689 | -39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,787 | €10,097 | -€6,689 | -39.8% |
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 13 October 2026 via checked.be.