GINDAC: 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.
GINDAC
Largest movements
- Tangible fixed assets +€928,774
new in 2025: €928,774
- Cash -€42,051
down €42,051 (-8.6%), from €486,798 to €444,747
mainly Investment in fixed assets (net) (-€928,774) and Tax, wage and social debts (-€9,749)
- Profit (loss) carried forward +€897,043
up €897,043, from -€545,091 to €351,952
- Financial income +€506,655
up €506,655 (+450.8%), from €112,381 to €619,036
- Gross operating margin -€42,246
down €42,246 (-13.1%), from €321,625 to €279,379
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.
Cash bridge derived
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 | €2,076,030 | €2,963,603 | +€887,572 | +42.8% |
| Fixed assets | 21/28 | €1,500,001 | €2,428,775 | +€928,774 | +61.9% |
| Tangible fixed assets | 22/27 | - | €928,774 | +€928,774 | |
| Other tangible fixed assets | 26 | - | €928,774 | +€928,774 | |
| Financial fixed assets | 28 | €1,500,001 | €1,500,001 | = | 0.0% |
| Current assets | 29/58 | €576,029 | €534,828 | -€41,201 | -7.2% |
| Amounts receivable within one year | 40/41 | €89,231 | €90,081 | +€850 | +1.0% |
| Trade receivables | 40 | €88,801 | €89,651 | +€850 | +1.0% |
| Other amounts receivable | 41 | €430 | €430 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €486,798 | €444,747 | -€42,051 | -8.6% |
| Total equity and liabilities | 10/49 | €2,076,030 | €2,963,603 | +€887,572 | +42.8% |
| Equity | 10/15 | €2,054,909 | €2,951,952 | +€897,043 | +43.7% |
| Contributions | 10/11 | €2,600,000 | €2,600,000 | = | 0.0% |
| Capital | 10 | €2,600,000 | €2,600,000 | = | 0.0% |
| Issued capital | 100 | €2,600,000 | €2,600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€545,091 | €351,952 | +€897,043 | |
| Amounts payable | 17/49 | €21,121 | €11,651 | -€9,470 | -44.8% |
| Amounts payable within one year | 42/48 | €21,121 | €11,651 | -€9,470 | -44.8% |
| Trade debts | 44 | €7,840 | €8,118 | +€278 | +3.5% |
| Suppliers | 440/4 | €7,840 | €8,118 | +€278 | +3.5% |
| Taxes, remuneration and social security | 45 | €13,282 | €3,533 | -€9,749 | -73.4% |
| Taxes | 450/3 | €13,282 | €3,533 | -€9,749 | -73.4% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | €321,625 | €279,379 | -€42,246 | -13.1% |
| Operating profit (loss) | 9901 | €320,517 | €278,237 | -€42,280 | -13.2% |
| Financial income | 75/76B | €112,381 | €619,036 | +€506,655 | +450.8% |
| Recurring financial income | 75 | €112,381 | €619,036 | +€506,655 | +450.8% |
| Financial charges | 65/66B | €113 | €230 | +€118 | +104.4% |
| Recurring financial charges | 65 | €113 | €230 | +€118 | +104.4% |
| Profit (loss) for the period before taxes | 9903 | €432,786 | €897,043 | +€464,257 | +107.3% |
| Profit (loss) for the period | 9904 | €432,786 | €897,043 | +€464,257 | +107.3% |
| Profit (loss) for the period to be appropriated | 9905 | €432,786 | €897,043 | +€464,257 | +107.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.