GINION GROUP: 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.
What changed
GINION GROUP
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2.6m
2024 · €1.6m-€4.1m
Equity
€31.0m
2024 · €33.5m-€2.6m
Cash
€190,458
2024 · €148,347+€42,111
Balance sheet total
€32.5m
2024 · €37.4m-€4.9m
Largest movements
Assets
- Receivables within one year -€7.4m
down €7.4m (-31.9%), from €23.3m to €15.9m
of which Other amounts receivable: -€7.5m
- Receivables after one year +€2.2m
up €2.2m (+53.1%), from €4.2m to €6.4m
of which Other amounts receivable: +€2.2m
Equity and liabilities
- Current portion of long-term debt -€2.6m
no longer reported in 2025 (was €2.6m)
- Profit (loss) carried forward -€2.6m
down €2.6m (-9.0%), from €28.5m to €25.9m
- Other debts +€381,676
up €381,676 (+56.6%), from €674,360 to €1.1m
Income statement
- Financial charges -€552,373
down €552,373 (-24.1%), from €2.3m to €1.7m
of which Non-recurring financial charges: -€450,000
- Other operating income -€393,325
down €393,325 (-61.1%), from €643,372 to €250,047
- Taxes -€185,558
down €185,558 (-99.5%), from €186,413 to €855
- Other operating charges -€162,362
down €162,362 (-55.1%), from €294,911 to €132,549
- Turnover +€104,933
up €104,933 (+8.6%), from €1.2m to €1.3m
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.
Result 2024
€1.6m
Turnover
+€104,933
Other operating income
-€393,325
Goods and materials
+€20,598
Services and other goods
-€46,944
Staff costs
+€57,576
Depreciation
+€3,337
Other operating charges
+€162,362
Other operating items
-€4.8m
Financial income
-€746
Financial charges
+€552,373
Taxes
+€185,558
Result 2025
-€2.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.3m
Investment
-€658,367
Financing
-€2.6m
Cash 2024
€148,347
From operations (derived)
+€3.3m
Net result for the year
-€2.6m
Depreciation
+€320,254
Receivables after one year
-€2.2m
Smaller working-capital items
-€776
Receivables within one year
+€7.4m
Deferred charges and accrued income
+€58,824
Trade debts
-€72,596
Advances received
+€40,000
Other debts
+€381,676
Accrued charges and deferred income
-€44,407
Investment (derived)
-€658,367
Investment in fixed assets (net)
-€658,367
Financing
-€2.6m
Current portion of long-term debt
-€2.6m
Cash 2025
€190,458
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,409,098 | €32,527,754 | -€4.9m | -13.0% |
| Fixed assets | 21/28 | €8,988,796 | €9,326,909 | +€338,113 | +3.8% |
| Intangible fixed assets | 21 | €2,281,174 | €2,301,142 | +€19,968 | +0.9% |
| Tangible fixed assets | 22/27 | €14,150 | €1,705 | -€12,445 | -88.0% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €7,950 | €1,705 | -€6,245 | -78.6% |
| Assets under construction and advance payments | 27 | €6,200 | - | -€6,200 | |
| Financial fixed assets | 28 | €6,693,472 | €7,024,063 | +€330,591 | +4.9% |
| Affiliated companies | 280/1 | €5,465,289 | €5,533,789 | +€68,500 | +1.3% |
| Participating interests | 280 | €5,465,289 | €5,533,789 | +€68,500 | +1.3% |
| Amounts receivable | 281 | €0 | - | = | |
| Companies linked by participating interests | 282/3 | €1,227,002 | €1,481,512 | +€254,510 | +20.7% |
| Participating interests | 282 | €898,349 | €938,528 | +€40,179 | +4.5% |
| Amounts receivable | 283 | €328,653 | €542,985 | +€214,331 | +65.2% |
| Other financial fixed assets | 284/8 | €1,180 | €8,761 | +€7,580 | +642% |
| Amounts receivable and cash guarantees | 285/8 | €1,180 | €8,761 | +€7,580 | +642% |
| Current assets | 29/58 | €28,420,301 | €23,200,844 | -€5.2m | -18.4% |
| Amounts receivable after more than one year | 29 | €4,192,631 | €6,419,287 | +€2.2m | +53.1% |
| Trade receivables | 290 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €4,142,631 | €6,369,287 | +€2.2m | +53.7% |
| Stocks and contracts in progress | 3 | - | €1,800 | +€1,800 | |
| Stocks | 30/36 | - | €1,800 | +€1,800 | |
| Goods purchased for resale | 34 | - | €1,800 | +€1,800 | |
| Amounts receivable within one year | 40/41 | €23,323,333 | €15,892,133 | -€7.4m | -31.9% |
| Trade receivables | 40 | €233,295 | €287,420 | +€54,125 | +23.2% |
| Other amounts receivable | 41 | €23,090,038 | €15,604,713 | -€7.5m | -32.4% |
| Cash at bank and in hand | 54/58 | €148,347 | €190,458 | +€42,111 | +28.4% |
| Deferred charges and accrued income | 490/1 | €755,990 | €697,166 | -€58,824 | -7.8% |
| Total equity and liabilities | 10/49 | €37,409,098 | €32,527,754 | -€4.9m | -13.0% |
| Equity | 10/15 | €33,521,540 | €30,967,586 | -€2.6m | -7.6% |
| Contributions | 10/11 | €4,935,175 | €4,935,175 | = | 0.0% |
| Capital | 10 | €219,170 | €219,170 | = | 0.0% |
| Issued capital | 100 | €219,170 | €219,170 | = | 0.0% |
| Contributions outside capital | 11 | €4,716,005 | €4,716,005 | = | 0.0% |
| Share premium | 1100/10 | €4,716,005 | €4,716,005 | = | 0.0% |
| Reserves | 13 | €130,305 | €130,305 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,917 | €21,917 | = | 0.0% |
| Legal reserve | 130 | €21,917 | €21,917 | = | 0.0% |
| Distributable reserves | 133 | €108,388 | €108,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,456,060 | €25,902,106 | -€2.6m | -9.0% |
| Amounts payable | 17/49 | €3,887,558 | €1,560,168 | -€2.3m | -59.9% |
| Amounts payable within one year | 42/48 | €3,842,181 | €1,559,198 | -€2.3m | -59.4% |
| Current portion of amounts payable after more than one year | 42 | €2,633,086 | - | -€2.6m | |
| Trade debts | 44 | €501,529 | €428,933 | -€72,596 | -14.5% |
| Suppliers | 440/4 | €501,529 | €428,933 | -€72,596 | -14.5% |
| Advances received on contracts in progress | 46 | - | €40,000 | +€40,000 | |
| Taxes, remuneration and social security | 45 | €33,206 | €34,230 | +€1,024 | +3.1% |
| Taxes | 450/3 | €3,428 | €3,264 | -€163 | -4.8% |
| Remuneration and social security | 454/9 | €29,778 | €30,965 | +€1,187 | +4.0% |
| Other amounts payable | 47/48 | €674,360 | €1,056,036 | +€381,676 | +56.6% |
| Accrued charges and deferred income | 492/3 | €45,377 | €970 | -€44,407 | -97.9% |
| Operating income | 70/76A | €6,647,915 | €1,574,480 | -€5.1m | -76.3% |
| Turnover | 70 | €1,219,500 | €1,324,433 | +€104,933 | +8.6% |
| Other operating income | 74 | €643,372 | €250,047 | -€393,325 | -61.1% |
| Non-recurring operating income | 76A | €4,785,042 | - | -€4.8m | |
| Operating charges | 60/66A | €2,972,499 | €2,775,571 | -€196,929 | -6.6% |
| Goods for resale, raw materials and consumables | 60 | €526,427 | €505,830 | -€20,598 | -3.9% |
| Purchases | 600/8 | €526,427 | €507,630 | -€18,798 | -3.6% |
| Change in stocks: decrease (increase) | 609 | - | -€1,800 | -€1,800 | |
| Services and other goods | 61 | €1,485,091 | €1,532,035 | +€46,944 | +3.2% |
| Remuneration, social security and pensions | 62 | €342,480 | €284,904 | -€57,576 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323,591 | €320,254 | -€3,337 | -1.0% |
| Other operating charges | 640/8 | €294,911 | €132,549 | -€162,362 | -55.1% |
| Operating profit (loss) | 9901 | €3,675,415 | -€1,201,090 | -€4.9m | |
| Financial income | 75/76B | €387,006 | €386,261 | -€746 | -0.2% |
| Recurring financial income | 75 | €387,006 | €386,261 | -€746 | -0.2% |
| Income from financial fixed assets | 750 | €14,915 | €14,916 | +€1 | 0.0% |
| Income from current assets | 751 | €372,073 | €370,712 | -€1,362 | -0.4% |
| Other financial income | 752/9 | €18 | €633 | +€615 | +3,340% |
| Financial charges | 65/66B | €2,290,642 | €1,738,270 | -€552,373 | -24.1% |
| Recurring financial charges | 65 | €140,642 | €38,270 | -€102,373 | -72.8% |
| Debt charges | 650 | €103,008 | €31,143 | -€71,865 | -69.8% |
| Other financial charges | 652/9 | €37,634 | €7,127 | -€30,508 | -81.1% |
| Non-recurring financial charges | 66B | €2,150,000 | €1,700,000 | -€450,000 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €1,771,779 | -€2,553,099 | -€4.3m | |
| Income taxes | 67/77 | €186,413 | €855 | -€185,558 | -99.5% |
| Taxes | 670/3 | €186,413 | €855 | -€185,558 | -99.5% |
| Profit (loss) for the period | 9904 | €1,585,366 | -€2,553,954 | -€4.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,585,366 | -€2,553,954 | -€4.1m |
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 24 October 2026 via checked.be.