GINEDI: 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.
GINEDI
Largest movements
- Receivables within one year +€18,478
up €18,478 (+110.1%), from €16,776 to €35,254
of which Other amounts receivable: +€21,945
- Tangible fixed assets -€5,786
down €5,786 (-22.4%), from €25,788 to €20,002
of which Furniture and vehicles: -€3,757
- Reserves +€15,052
up €15,052 (+22.5%), from €66,916 to €81,969
- Tax, wage and social debts +€8,174
up €8,174 (+73.9%), from €11,057 to €19,231
of which Taxes: +€8,174
- Debts after one year -€6,689
down €6,689 (-60.3%), from €11,101 to €4,412
- Other debts -€6,000
down €6,000 (-100.0%), from €6,000 to €0
- Trade debts +€2,737
up €2,737 (+55.3%), from €4,948 to €7,685
- Other operating charges -€1,893
down €1,893 (-54.6%), from €3,467 to €1,574
- Taxes +€1,810
up €1,810 (+16.1%), from €11,214 to €13,024
- Financial income +€576
up €576 (+74.0%), from €777 to €1,353
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 | €113,709 | €126,191 | +€12,482 | +11.0% |
| Fixed assets | 21/28 | €25,788 | €20,002 | -€5,786 | -22.4% |
| Tangible fixed assets | 22/27 | €25,788 | €20,002 | -€5,786 | -22.4% |
| Land and buildings | 22 | €10,409 | €8,885 | -€1,525 | -14.6% |
| Plant, machinery and equipment | 23 | €753 | €249 | -€505 | -67.0% |
| Furniture and vehicles | 24 | €14,625 | €10,868 | -€3,757 | -25.7% |
| Current assets | 29/58 | €87,921 | €106,189 | +€18,268 | +20.8% |
| Stocks and contracts in progress | 3 | €669 | €567 | -€102 | -15.2% |
| Stocks | 30/36 | €669 | €567 | -€102 | -15.2% |
| Amounts receivable within one year | 40/41 | €16,776 | €35,254 | +€18,478 | +110.1% |
| Trade receivables | 40 | €5,445 | €1,979 | -€3,466 | -63.7% |
| Other amounts receivable | 41 | €11,330 | €33,275 | +€21,945 | +193.7% |
| Cash at bank and in hand | 54/58 | €66,656 | €66,726 | +€70 | +0.1% |
| Deferred charges and accrued income | 490/1 | €3,821 | €3,642 | -€179 | -4.7% |
| Total equity and liabilities | 10/49 | €113,709 | €126,191 | +€12,482 | +11.0% |
| Equity | 10/15 | €73,122 | €88,174 | +€15,052 | +20.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €66,916 | €81,969 | +€15,052 | +22.5% |
| Distributable reserves | 133 | €66,916 | €81,969 | +€15,052 | +22.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €40,587 | €38,017 | -€2,571 | -6.3% |
| Amounts payable after more than one year | 17 | €11,101 | €4,412 | -€6,689 | -60.3% |
| Financial debts | 170/4 | €11,101 | €4,412 | -€6,689 | -60.3% |
| Amounts payable within one year | 42/48 | €29,487 | €33,605 | +€4,118 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €7,482 | €6,689 | -€793 | -10.6% |
| Trade debts | 44 | €4,948 | €7,685 | +€2,737 | +55.3% |
| Suppliers | 440/4 | €4,948 | €7,685 | +€2,737 | +55.3% |
| Taxes, remuneration and social security | 45 | €11,057 | €19,231 | +€8,174 | +73.9% |
| Taxes | 450/3 | €11,057 | €19,231 | +€8,174 | +73.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,000 | €0 | -€6,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,786 | €5,786 | = | 0.0% |
| Other operating charges | 640/8 | €3,467 | €1,574 | -€1,893 | -54.6% |
| Non-recurring operating charges | 66A | - | €3,472 | +€3,472 | |
| Gross operating margin | 9900 | €38,482 | €38,646 | +€164 | +0.4% |
| Operating profit (loss) | 9901 | €29,228 | €27,814 | -€1,415 | -4.8% |
| Financial income | 75/76B | €777 | €1,353 | +€576 | +74.0% |
| Recurring financial income | 75 | €777 | €1,353 | +€576 | +74.0% |
| Financial charges | 65/66B | €1,000 | €1,091 | +€90 | +9.0% |
| Recurring financial charges | 65 | €1,000 | €1,091 | +€90 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €29,005 | €28,076 | -€929 | -3.2% |
| Income taxes | 67/77 | €11,214 | €13,024 | +€1,810 | +16.1% |
| Profit (loss) for the period | 9904 | €17,791 | €15,052 | -€2,739 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,791 | €15,052 | -€2,739 | -15.4% |
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 10 October 2026 via checked.be.