GinQuest: 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.
GinQuest
Largest movements
- Cash -€5,592
down €5,592 (-64.1%), from €8,720 to €3,128
mainly Trade debts (-€19,820) and Tax, wage and social debts (-€12,167)
- Stocks and contracts -€5,318
down €5,318 (-13.9%), from €38,362 to €33,044
- Tangible fixed assets -€4,480
down €4,480 (-34.6%), from €12,931 to €8,452
- Receivables within one year -€4,433
down €4,433 (-5.6%), from €79,702 to €75,269
of which Trade receivables: -€3,838
- Short-term financial debts +€20,000
up €20,000 (+270%), from €7,400 to €27,400
- Trade debts -€19,820
down €19,820 (-26.3%), from €75,427 to €55,608
- Tax, wage and social debts -€12,167
down €12,167 (-71.9%), from €16,918 to €4,751
of which Remuneration and social security: -€7,191
- Debts after one year -€4,833
down €4,833 (-85.3%), from €5,663 to €830
- Profit (loss) carried forward -€3,532
down €3,532 (-7.4%), from -€47,429 to -€50,961
- Staff costs -€30,512
down €30,512 (-73.2%), from €41,681 to €11,169
- Gross operating margin -€17,688
down €17,688 (-45.8%), from €38,644 to €20,955
- Other operating charges +€1,769
up €1,769 (+93.4%), from €1,894 to €3,662
- Financial charges -€736
down €736 (-12.9%), from €5,729 to €4,993
- Depreciation -€440
down €440 (-9.0%), from €4,920 to €4,480
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 | €143,063 | €122,815 | -€20,247 | -14.2% |
| Fixed assets | 21/28 | €14,643 | €10,163 | -€4,480 | -30.6% |
| Tangible fixed assets | 22/27 | €12,931 | €8,452 | -€4,480 | -34.6% |
| Furniture and vehicles | 24 | €12,931 | €8,452 | -€4,480 | -34.6% |
| Financial fixed assets | 28 | €1,712 | €1,712 | = | 0.0% |
| Current assets | 29/58 | €128,420 | €112,652 | -€15,768 | -12.3% |
| Stocks and contracts in progress | 3 | €38,362 | €33,044 | -€5,318 | -13.9% |
| Stocks | 30/36 | €38,362 | €33,044 | -€5,318 | -13.9% |
| Amounts receivable within one year | 40/41 | €79,702 | €75,269 | -€4,433 | -5.6% |
| Trade receivables | 40 | €79,107 | €75,269 | -€3,838 | -4.9% |
| Other amounts receivable | 41 | €595 | - | -€595 | |
| Cash at bank and in hand | 54/58 | €8,720 | €3,128 | -€5,592 | -64.1% |
| Deferred charges and accrued income | 490/1 | €1,635 | €1,212 | -€424 | -25.9% |
| Total equity and liabilities | 10/49 | €143,063 | €122,815 | -€20,247 | -14.2% |
| Equity | 10/15 | €24,338 | €20,806 | -€3,532 | -14.5% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €50,766 | €50,766 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Distributable reserves | 133 | €48,666 | €48,666 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,429 | -€50,961 | -€3,532 | -7.4% |
| Amounts payable | 17/49 | €118,725 | €102,010 | -€16,715 | -14.1% |
| Amounts payable after more than one year | 17 | €5,663 | €830 | -€4,833 | -85.3% |
| Financial debts | 170/4 | €5,663 | €830 | -€4,833 | -85.3% |
| Amounts payable within one year | 42/48 | €113,062 | €101,179 | -€11,882 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €4,586 | €4,833 | +€247 | +5.4% |
| Financial debts | 43 | €7,400 | €27,400 | +€20,000 | +270% |
| Credit institutions | 430/8 | €7,400 | €27,400 | +€20,000 | +270% |
| Trade debts | 44 | €75,427 | €55,608 | -€19,820 | -26.3% |
| Suppliers | 440/4 | €75,427 | €55,608 | -€19,820 | -26.3% |
| Taxes, remuneration and social security | 45 | €16,918 | €4,751 | -€12,167 | -71.9% |
| Taxes | 450/3 | €9,727 | €4,751 | -€4,977 | -51.2% |
| Remuneration and social security | 454/9 | €7,191 | - | -€7,191 | |
| Other amounts payable | 47/48 | €8,730 | €8,588 | -€142 | -1.6% |
| Remuneration, social security and pensions | 62 | €41,681 | €11,169 | -€30,512 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,920 | €4,480 | -€440 | -9.0% |
| Other operating charges | 640/8 | €1,894 | €3,662 | +€1,769 | +93.4% |
| Gross operating margin | 9900 | €38,644 | €20,955 | -€17,688 | -45.8% |
| Operating profit (loss) | 9901 | -€9,851 | €1,645 | +€11,496 | |
| Financial income | 75/76B | €37 | €0 | -€37 | -99.9% |
| Recurring financial income | 75 | €37 | €0 | -€37 | -99.9% |
| Financial charges | 65/66B | €5,729 | €4,993 | -€736 | -12.9% |
| Recurring financial charges | 65 | €5,729 | €4,993 | -€736 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,543 | -€3,348 | +€12,195 | +78.5% |
| Income taxes | 67/77 | €275 | €184 | -€91 | -33.1% |
| Profit (loss) for the period | 9904 | -€15,818 | -€3,532 | +€12,286 | +77.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,818 | -€3,532 | +€12,286 | +77.7% |
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 26 October 2026 via checked.be.