Ginovi: 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.
Ginovi
Largest movements
- Receivables within one year +€17,701
up €17,701 (+18.3%), from €96,916 to €114,617
of which Other amounts receivable: +€23,268
- Tangible fixed assets +€6,877
up €6,877 (+488%), from €1,409 to €8,286
- Cash -€6,478
down €6,478 (-25.9%), from €25,025 to €18,547
mainly Contributions, distributions and other (-€48,600) and Receivables within one year (-€17,701)
- Other debts +€19,000
up €19,000 (+271%), from €7,000 to €26,000
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Profit (loss) carried forward +€10,264
up €10,264 (+24.8%), from -€41,308 to -€31,043
- Trade debts +€9,530
up €9,530 (+264%), from €3,610 to €13,141
- Current portion of long-term debt -€5,855
no longer reported in 2025 (was €5,855)
- Gross operating margin -€6,663
down €6,663 (-10.3%), from €64,709 to €58,046
- Depreciation +€2,065
up €2,065 (+346%), from €597 to €2,662
- Taxes -€1,639
down €1,639 (-8.5%), from €19,305 to €17,666
- Other operating charges -€1,170
down €1,170 (-90.7%), from €1,290 to €120
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 | €123,350 | €141,449 | +€18,100 | +14.7% |
| Fixed assets | 21/28 | €1,409 | €8,286 | +€6,877 | +488% |
| Tangible fixed assets | 22/27 | €1,409 | €8,286 | +€6,877 | +488% |
| Furniture and vehicles | 24 | €1,409 | €8,286 | +€6,877 | +488% |
| Current assets | 29/58 | €121,941 | €133,163 | +€11,222 | +9.2% |
| Amounts receivable within one year | 40/41 | €96,916 | €114,617 | +€17,701 | +18.3% |
| Trade receivables | 40 | €11,319 | €5,751 | -€5,567 | -49.2% |
| Other amounts receivable | 41 | €85,597 | €108,865 | +€23,268 | +27.2% |
| Cash at bank and in hand | 54/58 | €25,025 | €18,547 | -€6,478 | -25.9% |
| Total equity and liabilities | 10/49 | €123,350 | €141,449 | +€18,100 | +14.7% |
| Equity | 10/15 | €86,792 | €78,457 | -€8,336 | -9.6% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €109,500 | €109,500 | = | 0.0% |
| Distributable reserves | 133 | €109,500 | €109,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,308 | -€31,043 | +€10,264 | +24.8% |
| Amounts payable | 17/49 | €36,557 | €62,993 | +€26,435 | +72.3% |
| Amounts payable within one year | 42/48 | €36,557 | €62,993 | +€26,435 | +72.3% |
| Current portion of amounts payable after more than one year | 42 | €5,855 | - | -€5,855 | |
| Trade debts | 44 | €3,610 | €13,141 | +€9,530 | +264% |
| Suppliers | 440/4 | €3,610 | €13,141 | +€9,530 | +264% |
| Taxes, remuneration and social security | 45 | €20,092 | €23,852 | +€3,760 | +18.7% |
| Taxes | 450/3 | €20,092 | €23,852 | +€3,760 | +18.7% |
| Other amounts payable | 47/48 | €7,000 | €26,000 | +€19,000 | +271% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €597 | €2,662 | +€2,065 | +346% |
| Other operating charges | 640/8 | €1,290 | €120 | -€1,170 | -90.7% |
| Gross operating margin | 9900 | €64,709 | €58,046 | -€6,663 | -10.3% |
| Operating profit (loss) | 9901 | €62,821 | €55,264 | -€7,557 | -12.0% |
| Financial income | 75/76B | €4,628 | €5,268 | +€640 | +13.8% |
| Recurring financial income | 75 | €4,628 | €5,268 | +€640 | +13.8% |
| Financial charges | 65/66B | €2,430 | €2,602 | +€172 | +7.1% |
| Recurring financial charges | 65 | €2,430 | €2,602 | +€172 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €65,020 | €57,930 | -€7,089 | -10.9% |
| Income taxes | 67/77 | €19,305 | €17,666 | -€1,639 | -8.5% |
| Profit (loss) for the period | 9904 | €45,714 | €40,264 | -€5,450 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,714 | €40,264 | -€5,450 | -11.9% |
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 29 October 2026 via checked.be.