GINESTRA: 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.
GINESTRA
Largest movements
- Tangible fixed assets -€12,481
down €12,481 (-21.1%), from €59,030 to €46,549
- Cash -€1,300
down €1,300 (-4.7%), from €27,407 to €26,107
mainly Debts after one year (-€8,530) and Contributions, distributions and other (-€4,764)
- Current investments -€1,250
down €1,250 (-100.0%), from €1,250 to €0
- Receivables within one year -€1,198
down €1,198 (-30.8%), from €3,893 to €2,694
of which Trade receivables: -€1,992
- Debts after one year -€8,530
down €8,530 (-65.3%), from €13,060 to €4,529
- Trade debts -€3,610
down €3,610 (-33.4%), from €10,807 to €7,196
- Other debts -€3,499
down €3,499 (-42.3%), from €8,263 to €4,764
- Tax, wage and social debts -€2,517
down €2,517 (-69.3%), from €3,634 to €1,117
of which Remuneration and social security: -€2,986
- Reserves +€1,391
up €1,391 (+6.1%), from €22,636 to €24,027
of which Distributable reserves: +€1,391
- Staff costs +€6,622
up €6,622 (+10.8%), from €61,115 to €67,736
- Gross operating margin -€2,020
down €2,020 (-2.1%), from €96,428 to €94,408
- Taxes -€1,329
down €1,329 (-36.6%), from €3,628 to €2,299
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 | €97,280 | €81,654 | -€15,626 | -16.1% |
| Fixed assets | 21/28 | €60,705 | €48,460 | -€12,246 | -20.2% |
| Tangible fixed assets | 22/27 | €59,030 | €46,549 | -€12,481 | -21.1% |
| Land and buildings | 22 | €37,210 | €33,150 | -€4,060 | -10.9% |
| Plant, machinery and equipment | 23 | €10,748 | €7,967 | -€2,781 | -25.9% |
| Furniture and vehicles | 24 | €11,072 | €5,432 | -€5,640 | -50.9% |
| Financial fixed assets | 28 | €1,675 | €1,911 | +€235 | +14.1% |
| Current assets | 29/58 | €36,574 | €33,194 | -€3,380 | -9.2% |
| Amounts receivable within one year | 40/41 | €3,893 | €2,694 | -€1,198 | -30.8% |
| Trade receivables | 40 | €1,992 | €0 | -€1,992 | -100.0% |
| Other amounts receivable | 41 | €1,900 | €2,694 | +€794 | +41.8% |
| Current investments | 50/53 | €1,250 | €0 | -€1,250 | -100.0% |
| Cash at bank and in hand | 54/58 | €27,407 | €26,107 | -€1,300 | -4.7% |
| Deferred charges and accrued income | 490/1 | €4,025 | €4,393 | +€368 | +9.1% |
| Total equity and liabilities | 10/49 | €97,280 | €81,654 | -€15,626 | -16.1% |
| Equity | 10/15 | €52,636 | €54,027 | +€1,391 | +2.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €22,636 | €24,027 | +€1,391 | +6.1% |
| Non-distributable reserves | 130/1 | €1,422 | €1,422 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,422 | €1,422 | = | 0.0% |
| Distributable reserves | 133 | €21,213 | €22,604 | +€1,391 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,644 | €27,627 | -€17,018 | -38.1% |
| Amounts payable after more than one year | 17 | €13,060 | €4,529 | -€8,530 | -65.3% |
| Financial debts | 170/4 | €13,060 | €4,529 | -€8,530 | -65.3% |
| Amounts payable within one year | 42/48 | €31,585 | €22,114 | -€9,471 | -30.0% |
| Current portion of amounts payable after more than one year | 42 | €8,372 | €8,530 | +€158 | +1.9% |
| Financial debts | 43 | €509 | €506 | -€3 | -0.6% |
| Credit institutions | 430/8 | €509 | €506 | -€3 | -0.6% |
| Trade debts | 44 | €10,807 | €7,196 | -€3,610 | -33.4% |
| Suppliers | 440/4 | €10,807 | €7,196 | -€3,610 | -33.4% |
| Taxes, remuneration and social security | 45 | €3,634 | €1,117 | -€2,517 | -69.3% |
| Taxes | 450/3 | €648 | €1,117 | +€469 | +72.3% |
| Remuneration and social security | 454/9 | €2,986 | €0 | -€2,986 | -100.0% |
| Other amounts payable | 47/48 | €8,263 | €4,764 | -€3,499 | -42.3% |
| Accrued charges and deferred income | 492/3 | - | €983 | +€983 | |
| Remuneration, social security and pensions | 62 | €61,115 | €67,736 | +€6,622 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,727 | €16,119 | +€393 | +2.5% |
| Other operating charges | 640/8 | €1,389 | €1,288 | -€102 | -7.3% |
| Gross operating margin | 9900 | €96,428 | €94,408 | -€2,020 | -2.1% |
| Operating profit (loss) | 9901 | €18,198 | €9,265 | -€8,933 | -49.1% |
| Financial income | 75/76B | €36 | €85 | +€49 | +138.2% |
| Recurring financial income | 75 | €36 | €85 | +€49 | +138.2% |
| Financial charges | 65/66B | €1,352 | €896 | -€456 | -33.7% |
| Recurring financial charges | 65 | €1,352 | €896 | -€456 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €16,881 | €8,454 | -€8,427 | -49.9% |
| Income taxes | 67/77 | €3,628 | €2,299 | -€1,329 | -36.6% |
| Profit (loss) for the period | 9904 | €13,254 | €6,155 | -€7,098 | -53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,254 | €6,155 | -€7,098 | -53.6% |
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.