GINGERBREAD: 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.
GINGERBREAD
Largest movements
- Tangible fixed assets -€737,672
down €737,672 (-76.4%), from €965,735 to €228,062
of which Land and buildings: -€744,659
- Receivables within one year +€84,385
up €84,385 (+133%), from €63,642 to €148,027
of which Trade receivables: +€100,385
- Cash +€45,547
up €45,547 (+882%), from €5,163 to €50,710
mainly Investment in fixed assets (net) (+€749,802) and Net result for the year (+€213,602)
- Intangible fixed assets -€26,768
no longer reported in 2025 (was €26,768)
- Debts after one year -€800,000
no longer reported in 2025 (was €800,000)
- Reserves +€169,886
up €169,886 (+184%), from €92,430 to €262,316
- Other debts -€117,409
down €117,409 (-66.6%), from €176,216 to €58,807
- Profit (loss) carried forward +€43,716
no longer reported in 2025 (was -€43,716)
- Trade debts +€33,719
up €33,719 (+99.8%), from €33,795 to €67,514
- Gross operating margin +€285,497
up €285,497 (+477%), from €59,882 to €345,379
- Taxes +€82,039
new in 2025: €82,039
- Depreciation -€10,254
down €10,254 (-41.2%), from €24,892 to €14,638
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 | €1,077,826 | €436,894 | -€640,932 | -59.5% |
| Fixed assets | 21/28 | €992,502 | €228,062 | -€764,440 | -77.0% |
| Intangible fixed assets | 21 | €26,768 | - | -€26,768 | |
| Tangible fixed assets | 22/27 | €965,735 | €228,062 | -€737,672 | -76.4% |
| Land and buildings | 22 | €965,735 | €221,075 | -€744,659 | -77.1% |
| Furniture and vehicles | 24 | - | €1,051 | +€1,051 | |
| Other tangible fixed assets | 26 | - | €5,936 | +€5,936 | |
| Current assets | 29/58 | €85,324 | €208,832 | +€123,508 | +145% |
| Stocks and contracts in progress | 3 | €7,936 | €3,726 | -€4,211 | -53.1% |
| Stocks | 30/36 | €7,936 | €3,726 | -€4,211 | -53.1% |
| Amounts receivable within one year | 40/41 | €63,642 | €148,027 | +€84,385 | +133% |
| Trade receivables | 40 | €47,642 | €148,027 | +€100,385 | +211% |
| Other amounts receivable | 41 | €16,000 | - | -€16,000 | |
| Cash at bank and in hand | 54/58 | €5,163 | €50,710 | +€45,547 | +882% |
| Deferred charges and accrued income | 490/1 | €8,583 | €6,370 | -€2,213 | -25.8% |
| Total equity and liabilities | 10/49 | €1,077,826 | €436,894 | -€640,932 | -59.5% |
| Equity | 10/15 | €67,464 | €281,066 | +€213,602 | +317% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €92,430 | €262,316 | +€169,886 | +184% |
| Distributable reserves | 133 | €92,430 | €262,316 | +€169,886 | +184% |
| Profit (loss) carried forward | 14 | -€43,716 | - | +€43,716 | |
| Amounts payable | 17/49 | €1,010,362 | €155,828 | -€854,534 | -84.6% |
| Amounts payable after more than one year | 17 | €800,000 | - | -€800,000 | |
| Financial debts | 170/4 | €800,000 | - | -€800,000 | |
| Amounts payable within one year | 42/48 | €210,350 | €155,656 | -€54,695 | -26.0% |
| Trade debts | 44 | €33,795 | €67,514 | +€33,719 | +99.8% |
| Suppliers | 440/4 | €33,795 | €67,514 | +€33,719 | +99.8% |
| Advances received on contracts in progress | 46 | €55 | €23,679 | +€23,624 | +42,953% |
| Taxes, remuneration and social security | 45 | €285 | €5,656 | +€5,371 | +1,884% |
| Taxes | 450/3 | €285 | €5,656 | +€5,371 | +1,884% |
| Other amounts payable | 47/48 | €176,216 | €58,807 | -€117,409 | -66.6% |
| Accrued charges and deferred income | 492/3 | €12 | €172 | +€161 | +1,378% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,892 | €14,638 | -€10,254 | -41.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,060 | €4,060 | = | 0.0% |
| Other operating charges | 640/8 | €6,022 | €9,214 | +€3,193 | +53.0% |
| Gross operating margin | 9900 | €59,882 | €345,379 | +€285,497 | +477% |
| Operating profit (loss) | 9901 | €24,909 | €317,467 | +€292,558 | +1,175% |
| Financial income | 75/76B | €2 | €0 | -€2 | -95.1% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -95.1% |
| Financial charges | 65/66B | €19,895 | €21,826 | +€1,931 | +9.7% |
| Recurring financial charges | 65 | €19,895 | €21,826 | +€1,931 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €5,016 | €295,641 | +€290,625 | +5,795% |
| Income taxes | 67/77 | - | €82,039 | +€82,039 | |
| Profit (loss) for the period | 9904 | €5,016 | €213,602 | +€208,587 | +4,159% |
| Profit (loss) for the period to be appropriated | 9905 | €5,016 | €213,602 | +€208,587 | +4,159% |
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 23 October 2026 via checked.be.