GINKGO: 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.
GINKGO
Largest movements
- Cash +€165,523
up €165,523 (+398%), from €41,603 to €207,127
mainly Net result for the year (+€184,615) and Depreciation (+€88,313)
- Tangible fixed assets -€44,495
down €44,495 (-7.5%), from €595,071 to €550,576
of which Land and buildings: -€33,032
- Receivables within one year +€36,606
up €36,606 (+8.1%), from €451,573 to €488,179
of which Trade receivables: +€246,489
- Stocks and contracts -€23,621
down €23,621 (-5.0%), from €467,764 to €444,143
- Reserves +€184,615
up €184,615 (+26.2%), from €703,339 to €887,954
of which Distributable reserves: +€184,615
- Debts after one year -€60,000
down €60,000 (-16.7%), from €360,000 to €300,000
- Trade debts +€52,573
up €52,573 (+15.2%), from €345,594 to €398,167
- Short-term financial debts -€40,000
no longer reported in 2025 (was €40,000)
- Current portion of long-term debt -€35,192
down €35,192 (-37.0%), from €95,192 to €60,000
- Gross operating margin +€75,324
up €75,324 (+20.9%), from €360,594 to €435,919
- Taxes +€22,720
up €22,720 (+40.8%), from €55,698 to €78,419
- Other operating charges +€11,225
up €11,225 (+198%), from €5,666 to €16,891
- Depreciation -€5,558
down €5,558 (-5.9%), from €93,871 to €88,313
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 | €1,565,407 | €1,696,273 | +€130,866 | +8.4% |
| Fixed assets | 21/28 | €595,071 | €550,576 | -€44,495 | -7.5% |
| Tangible fixed assets | 22/27 | €595,071 | €550,576 | -€44,495 | -7.5% |
| Land and buildings | 22 | €524,352 | €491,320 | -€33,032 | -6.3% |
| Plant, machinery and equipment | 23 | €69,337 | €57,207 | -€12,130 | -17.5% |
| Furniture and vehicles | 24 | €1,382 | €2,049 | +€667 | +48.3% |
| Current assets | 29/58 | €970,336 | €1,145,697 | +€175,361 | +18.1% |
| Stocks and contracts in progress | 3 | €467,764 | €444,143 | -€23,621 | -5.0% |
| Stocks | 30/36 | €467,764 | €444,143 | -€23,621 | -5.0% |
| Amounts receivable within one year | 40/41 | €451,573 | €488,179 | +€36,606 | +8.1% |
| Trade receivables | 40 | €240,742 | €487,231 | +€246,489 | +102% |
| Other amounts receivable | 41 | €210,831 | €948 | -€209,883 | -99.6% |
| Cash at bank and in hand | 54/58 | €41,603 | €207,127 | +€165,523 | +398% |
| Deferred charges and accrued income | 490/1 | €9,396 | €6,249 | -€3,147 | -33.5% |
| Total equity and liabilities | 10/49 | €1,565,407 | €1,696,273 | +€130,866 | +8.4% |
| Equity | 10/15 | €721,939 | €906,554 | +€184,615 | +25.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €703,339 | €887,954 | +€184,615 | +26.2% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €700,839 | €885,454 | +€184,615 | +26.3% |
| Amounts payable | 17/49 | €843,468 | €789,719 | -€53,749 | -6.4% |
| Amounts payable after more than one year | 17 | €360,000 | €300,000 | -€60,000 | -16.7% |
| Financial debts | 170/4 | €360,000 | €300,000 | -€60,000 | -16.7% |
| Amounts payable within one year | 42/48 | €481,484 | €487,022 | +€5,538 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €95,192 | €60,000 | -€35,192 | -37.0% |
| Financial debts | 43 | €40,000 | - | -€40,000 | |
| Credit institutions | 430/8 | €40,000 | - | -€40,000 | |
| Trade debts | 44 | €345,594 | €398,167 | +€52,573 | +15.2% |
| Suppliers | 440/4 | €345,594 | €398,167 | +€52,573 | +15.2% |
| Taxes, remuneration and social security | 45 | €698 | €1,669 | +€970 | +139% |
| Taxes | 450/3 | €698 | €1,669 | +€970 | +139% |
| Other amounts payable | 47/48 | - | €27,187 | +€27,187 | |
| Accrued charges and deferred income | 492/3 | €1,983 | €2,697 | +€714 | +36.0% |
| Remuneration, social security and pensions | 62 | €58,014 | €58,979 | +€965 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,871 | €88,313 | -€5,558 | -5.9% |
| Other operating charges | 640/8 | €5,666 | €16,891 | +€11,225 | +198% |
| Gross operating margin | 9900 | €360,594 | €435,919 | +€75,324 | +20.9% |
| Operating profit (loss) | 9901 | €203,043 | €271,735 | +€68,692 | +33.8% |
| Financial income | 75/76B | €39 | €214 | +€175 | +451% |
| Recurring financial income | 75 | €39 | €214 | +€175 | +451% |
| Financial charges | 65/66B | €12,564 | €8,916 | -€3,648 | -29.0% |
| Recurring financial charges | 65 | €12,564 | €8,916 | -€3,648 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €190,518 | €263,033 | +€72,515 | +38.1% |
| Income taxes | 67/77 | €55,698 | €78,419 | +€22,720 | +40.8% |
| Profit (loss) for the period | 9904 | €134,820 | €184,615 | +€49,795 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €134,820 | €184,615 | +€49,795 | +36.9% |
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 17 October 2026 via checked.be.