Ginvest: what changed
Two fiscal 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.
Ginvest
Largest movements
- Current investments +€210,000
new in 2025: €210,000
- Cash -€189,090
down €189,090 (-68.1%), from €277,768 to €88,678
mainly Current investments (-€210,000) and Contributions, distributions and other (-€74,429)
- Tangible fixed assets -€22,023
down €22,023 (-4.0%), from €557,137 to €535,114
of which Land and buildings: -€20,515
- Profit (loss) carried forward -€51,394
down €51,394 (-26.5%), from €194,087 to €142,693
- Other debts +€30,299
up €30,299 (+8.1%), from €375,706 to €406,006
- Reserves +€21,500
up €21,500 (+15.7%), from €136,568 to €158,068
of which Distributable reserves: +€21,500
- Taxes -€2,616
down €2,616 (-12.6%), from €20,809 to €18,193
- Financial charges -€1,201
down €1,201 (-4.7%), from €25,514 to €24,312
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 | €840,825 | €839,712 | -€1,113 | -0.1% |
| Fixed assets | 21/28 | €563,057 | €541,033 | -€22,023 | -3.9% |
| Tangible fixed assets | 22/27 | €557,137 | €535,114 | -€22,023 | -4.0% |
| Land and buildings | 22 | €550,793 | €530,278 | -€20,515 | -3.7% |
| Plant, machinery and equipment | 23 | €6,344 | €4,836 | -€1,508 | -23.8% |
| Financial fixed assets | 28 | €5,919 | €5,919 | = | 0.0% |
| Current assets | 29/58 | €277,768 | €298,678 | +€20,910 | +7.5% |
| Current investments | 50/53 | - | €210,000 | +€210,000 | |
| Cash at bank and in hand | 54/58 | €277,768 | €88,678 | -€189,090 | -68.1% |
| Total equity and liabilities | 10/49 | €840,825 | €839,712 | -€1,113 | -0.1% |
| Equity | 10/15 | €411,905 | €382,011 | -€29,894 | -7.3% |
| Contributions | 10/11 | €81,250 | €81,250 | = | 0.0% |
| Capital | 10 | €81,250 | €81,250 | = | 0.0% |
| Issued capital | 100 | €81,250 | €81,250 | = | 0.0% |
| Reserves | 13 | €136,568 | €158,068 | +€21,500 | +15.7% |
| Non-distributable reserves | 130/1 | €8,125 | €8,125 | = | 0.0% |
| Legal reserve | 130 | €8,125 | €8,125 | = | 0.0% |
| Distributable reserves | 133 | €128,443 | €149,943 | +€21,500 | +16.7% |
| Profit (loss) carried forward | 14 | €194,087 | €142,693 | -€51,394 | -26.5% |
| Amounts payable | 17/49 | €428,920 | €457,701 | +€28,781 | +6.7% |
| Amounts payable after more than one year | 17 | €7,950 | €7,950 | = | 0.0% |
| Other amounts payable | 178/9 | €7,950 | €7,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €395,485 | €425,471 | +€29,986 | +7.6% |
| Taxes, remuneration and social security | 45 | €19,778 | €19,465 | -€313 | -1.6% |
| Taxes | 450/3 | €19,778 | €19,465 | -€313 | -1.6% |
| Other amounts payable | 47/48 | €375,706 | €406,006 | +€30,299 | +8.1% |
| Accrued charges and deferred income | 492/3 | €25,485 | €24,280 | -€1,205 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,678 | €22,023 | +€345 | +1.6% |
| Other operating charges | 640/8 | €10,275 | €10,597 | +€322 | +3.1% |
| Gross operating margin | 9900 | €119,167 | €119,660 | +€492 | +0.4% |
| Operating profit (loss) | 9901 | €87,214 | €87,039 | -€175 | -0.2% |
| Financial charges | 65/66B | €25,514 | €24,312 | -€1,201 | -4.7% |
| Recurring financial charges | 65 | €25,514 | €24,312 | -€1,201 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €61,701 | €62,727 | +€1,026 | +1.7% |
| Income taxes | 67/77 | €20,809 | €18,193 | -€2,616 | -12.6% |
| Profit (loss) for the period | 9904 | €40,892 | €44,534 | +€3,642 | +8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,892 | €44,534 | +€3,642 | +8.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.