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 -€337,144
down €337,144 (-56.2%), from €600,000 to €262,856
- Tangible fixed assets -€231,316
down €231,316 (-6.1%), from €3.8m to €3.6m
- Cash -€151,506
down €151,506 (-77.0%), from €196,701 to €45,196
mainly Debts after one year (-€1.3m) and Tax, wage and social debts (-€82,362)
- Debts after one year -€1.3m
down €1.3m (-38.3%), from €3.4m to €2.1m
of which Other amounts payable: -€1.1m
- Reserves +€652,424
up €652,424 (+68.4%), from €954,138 to €1.6m
of which Distributable reserves: +€652,424
- Tax, wage and social debts -€82,362
down €82,362 (-100.0%), from €82,362 to €0
- Gross operating margin +€742,178
up €742,178 (+157.3%), from €471,871 to €1.2m
- Taxes +€192,942
up €192,942 (+674.2%), from €28,619 to €221,561
- Depreciation -€64,559
down €64,559 (-17.9%), from €361,337 to €296,778
- Financial income -€38,957
down €38,957 (-80.2%), from €48,567 to €9,610
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 | €4,631,116 | €3,935,091 | -€696,025 | -15.0% |
| Fixed assets | 21/28 | €3,798,558 | €3,567,242 | -€231,316 | -6.1% |
| Tangible fixed assets | 22/27 | €3,798,558 | €3,567,242 | -€231,316 | -6.1% |
| Land and buildings | 22 | €3,798,558 | €3,567,242 | -€231,316 | -6.1% |
| Current assets | 29/58 | €832,558 | €367,849 | -€464,709 | -55.8% |
| Amounts receivable within one year | 40/41 | €35,856 | €59,798 | +€23,941 | +66.8% |
| Trade receivables | 40 | €0 | €2,620 | +€2,620 | |
| Other amounts receivable | 41 | €35,856 | €57,178 | +€21,321 | +59.5% |
| Current investments | 50/53 | €600,000 | €262,856 | -€337,144 | -56.2% |
| Cash at bank and in hand | 54/58 | €196,701 | €45,196 | -€151,506 | -77.0% |
| Total equity and liabilities | 10/49 | €4,631,116 | €3,935,091 | -€696,025 | -15.0% |
| Equity | 10/15 | €1,015,638 | €1,668,062 | +€652,424 | +64.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €954,138 | €1,606,562 | +€652,424 | +68.4% |
| Non-distributable reserves | 130/1 | €22,893 | €22,893 | = | 0.0% |
| Legal reserve | 130 | €22,893 | €22,893 | = | 0.0% |
| Distributable reserves | 133 | €931,245 | €1,583,669 | +€652,424 | +70.1% |
| Amounts payable | 17/49 | €3,615,478 | €2,267,029 | -€1.3m | -37.3% |
| Amounts payable after more than one year | 17 | €3,352,555 | €2,067,404 | -€1.3m | -38.3% |
| Financial debts | 170/4 | €835,351 | €685,366 | -€149,984 | -18.0% |
| Other amounts payable | 178/9 | €2,517,204 | €1,382,037 | -€1.1m | -45.1% |
| Amounts payable within one year | 42/48 | €262,923 | €199,625 | -€63,298 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €149,151 | €149,984 | +€834 | +0.6% |
| Trade debts | 44 | €31,410 | €49,641 | +€18,230 | +58.0% |
| Suppliers | 440/4 | €31,410 | €49,641 | +€18,230 | +58.0% |
| Taxes, remuneration and social security | 45 | €82,362 | €0 | -€82,362 | -100.0% |
| Taxes | 450/3 | €82,362 | €0 | -€82,362 | -100.0% |
| Non-recurring operating income | 76A | - | €325,053 | +€325,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €361,337 | €296,778 | -€64,559 | -17.9% |
| Other operating charges | 640/8 | €39,496 | €47,610 | +€8,114 | +20.5% |
| Gross operating margin | 9900 | €471,871 | €1,214,049 | +€742,178 | +157.3% |
| Operating profit (loss) | 9901 | €71,038 | €869,661 | +€798,623 | +1124.2% |
| Financial income | 75/76B | €48,567 | €9,610 | -€38,957 | -80.2% |
| Recurring financial income | 75 | €48,567 | €9,610 | -€38,957 | -80.2% |
| Financial charges | 65/66B | €6,135 | €5,285 | -€850 | -13.9% |
| Recurring financial charges | 65 | €6,135 | €5,285 | -€850 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €113,469 | €873,986 | +€760,516 | +670.2% |
| Income taxes | 67/77 | €28,619 | €221,561 | +€192,942 | +674.2% |
| Profit (loss) for the period | 9904 | €84,851 | €652,424 | +€567,574 | +668.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,851 | €652,424 | +€567,574 | +668.9% |
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.