Ginisis: 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.
Ginisis
Largest movements
- Tangible fixed assets -€522,931
down €522,931 (-71.3%), from €733,886 to €210,954
of which Land and buildings: -€679,938
- Cash -€112,147
down €112,147 (-67.8%), from €165,320 to €53,173
mainly Debts after one year (-€516,530) and Contributions, distributions and other (-€287,155)
- Receivables within one year -€38,014
down €38,014 (-50.3%), from €75,625 to €37,612
of which Trade receivables: -€51,057
- Contributions -€1.2m
down €1.2m (-99.6%), from €1.2m to €5,000
- Profit (loss) carried forward +€1.1m
up €1.1m, from -€1.0m to €85,090
- Debts after one year -€516,530
down €516,530 (-88.0%), from €586,758 to €70,228
- Reserves -€143,333
down €143,333 (-100.0%), from €143,333 to €0
of which Distributable reserves: -€126,593
- Other debts +€100,061
up €100,061 (+1606.3%), from €6,229 to €106,290
- Financial charges -€1.0m
down €1.0m (-99.0%), from €1.0m to €9,965
of which Non-recurring financial charges: -€975,950
- Gross operating margin +€74,576
up €74,576 (+145.8%), from €51,149 to €125,726
- Depreciation -€29,068
down €29,068 (-56.3%), from €51,599 to €22,531
- Taxes +€5,452
up €5,452 (+3260.9%), from €167 to €5,619
- Staff costs -€4,695
down €4,695 (-100.0%), from €4,695 to €0
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 | €977,731 | €303,772 | -€673,959 | -68.9% |
| Fixed assets | 21/28 | €733,886 | €210,954 | -€522,931 | -71.3% |
| Tangible fixed assets | 22/27 | €733,886 | €210,954 | -€522,931 | -71.3% |
| Land and buildings | 22 | €679,938 | €0 | -€679,938 | -100.0% |
| Plant, machinery and equipment | 23 | €11,935 | €0 | -€11,935 | -100.0% |
| Furniture and vehicles | 24 | €42,013 | €210,954 | +€168,942 | +402.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €243,846 | €92,818 | -€151,028 | -61.9% |
| Amounts receivable within one year | 40/41 | €75,625 | €37,612 | -€38,014 | -50.3% |
| Trade receivables | 40 | €75,625 | €24,568 | -€51,057 | -67.5% |
| Other amounts receivable | 41 | €0 | €13,043 | +€13,043 | |
| Cash at bank and in hand | 54/58 | €165,320 | €53,173 | -€112,147 | -67.8% |
| Deferred charges and accrued income | 490/1 | €2,901 | €2,033 | -€868 | -29.9% |
| Total equity and liabilities | 10/49 | €977,731 | €303,772 | -€673,959 | -68.9% |
| Equity | 10/15 | €292,155 | €90,090 | -€202,065 | -69.2% |
| Contributions | 10/11 | €1,171,204 | €5,000 | -€1.2m | -99.6% |
| Reserves | 13 | €143,333 | €0 | -€143,333 | -100.0% |
| Non-distributable reserves | 130/1 | €16,740 | €0 | -€16,740 | -100.0% |
| Reserves not available under the articles | 1311 | €16,740 | €0 | -€16,740 | -100.0% |
| Distributable reserves | 133 | €126,593 | €0 | -€126,593 | -100.0% |
| Profit (loss) carried forward | 14 | -€1,022,382 | €85,090 | +€1.1m | |
| Amounts payable | 17/49 | €685,576 | €213,682 | -€471,894 | -68.8% |
| Amounts payable after more than one year | 17 | €586,758 | €70,228 | -€516,530 | -88.0% |
| Financial debts | 170/4 | €586,758 | €70,228 | -€516,530 | -88.0% |
| Amounts payable within one year | 42/48 | €98,367 | €143,052 | +€44,686 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €68,271 | €22,551 | -€45,720 | -67.0% |
| Trade debts | 44 | €4,035 | €9,584 | +€5,550 | +137.5% |
| Suppliers | 440/4 | €4,035 | €9,584 | +€5,550 | +137.5% |
| Taxes, remuneration and social security | 45 | €19,831 | €4,626 | -€15,205 | -76.7% |
| Taxes | 450/3 | €19,831 | €4,626 | -€15,205 | -76.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,229 | €106,290 | +€100,061 | +1606.3% |
| Accrued charges and deferred income | 492/3 | €451 | €402 | -€49 | -10.9% |
| Non-recurring operating income | 76A | €24,601 | €113,845 | +€89,244 | +362.8% |
| Remuneration, social security and pensions | 62 | €4,695 | €0 | -€4,695 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,599 | €22,531 | -€29,068 | -56.3% |
| Other operating charges | 640/8 | €4,786 | €2,520 | -€2,266 | -47.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €51,149 | €125,726 | +€74,576 | +145.8% |
| Operating profit (loss) | 9901 | -€9,930 | €100,675 | +€110,605 | |
| Financial income | 75/76B | €704 | €0 | -€704 | -100.0% |
| Recurring financial income | 75 | €704 | €0 | -€704 | -100.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,012,988 | €9,965 | -€1.0m | -99.0% |
| Recurring financial charges | 65 | €37,038 | €9,965 | -€27,072 | -73.1% |
| Non-recurring financial charges | 66B | €975,950 | €0 | -€975,950 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,022,214 | €90,710 | +€1.1m | |
| Income taxes | 67/77 | €167 | €5,619 | +€5,452 | +3260.9% |
| Profit (loss) for the period | 9904 | -€1,022,382 | €85,090 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,022,382 | €85,090 | +€1.1m |
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 11 October 2026 via checked.be.