The Ginger Connection: 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.
The Ginger Connection
Largest movements
- Tangible fixed assets +€67,058
up €67,058 (+6989.7%), from €959 to €68,017
of which Land and buildings: +€64,704
- Cash -€14,716
down €14,716 (-65.9%), from €22,324 to €7,608
mainly Investment in fixed assets (net) (-€68,611) and Other debts (-€14,800)
- Debts after one year +€44,617
new in 2025: €44,617
- Reserves +€18,100
up €18,100 (+29.2%), from €62,000 to €80,100
- Other debts -€14,800
down €14,800 (-100.0%), from €14,800 to €0
- Current portion of long-term debt +€11,604
up €11,604 (+29112.5%), from €40 to €11,644
- Contributions -€10,450
down €10,450 (-56.0%), from €18,650 to €8,200
- Gross operating margin +€3,104
up €3,104 (+17.2%), from €18,013 to €21,118
- Depreciation +€1,319
up €1,319 (+564.3%), from €234 to €1,553
- Financial charges +€755
up €755 (+1291.2%), from €59 to €814
- Staff costs +€504
new in 2025: €504
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 | €106,430 | €159,648 | +€53,219 | +50.0% |
| Fixed assets | 21/28 | €64,712 | €131,770 | +€67,058 | +103.6% |
| Tangible fixed assets | 22/27 | €959 | €68,017 | +€67,058 | +6989.7% |
| Land and buildings | 22 | - | €64,704 | +€64,704 | |
| Plant, machinery and equipment | 23 | €959 | €3,313 | +€2,354 | +245.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €63,753 | €63,753 | = | 0.0% |
| Current assets | 29/58 | €41,717 | €27,878 | -€13,839 | -33.2% |
| Amounts receivable within one year | 40/41 | €19,394 | €20,270 | +€877 | +4.5% |
| Trade receivables | 40 | €2,342 | €1,168 | -€1,174 | -50.1% |
| Other amounts receivable | 41 | €17,052 | €19,103 | +€2,051 | +12.0% |
| Cash at bank and in hand | 54/58 | €22,324 | €7,608 | -€14,716 | -65.9% |
| Total equity and liabilities | 10/49 | €106,430 | €159,648 | +€53,219 | +50.0% |
| Equity | 10/15 | €81,467 | €89,126 | +€7,658 | +9.4% |
| Contributions | 10/11 | €18,650 | €8,200 | -€10,450 | -56.0% |
| Reserves | 13 | €62,000 | €80,100 | +€18,100 | +29.2% |
| Distributable reserves | 133 | €62,000 | €80,100 | +€18,100 | +29.2% |
| Profit (loss) carried forward | 14 | €817 | €826 | +€8 | +1.0% |
| Amounts payable | 17/49 | €24,962 | €70,523 | +€45,560 | +182.5% |
| Amounts payable after more than one year | 17 | - | €44,617 | +€44,617 | |
| Financial debts | 170/4 | - | €44,617 | +€44,617 | |
| Amounts payable within one year | 42/48 | €24,962 | €25,905 | +€943 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €40 | €11,644 | +€11,604 | +29112.5% |
| Trade debts | 44 | €6,656 | €13,761 | +€7,105 | +106.7% |
| Suppliers | 440/4 | €6,656 | €13,761 | +€7,105 | +106.7% |
| Taxes, remuneration and social security | 45 | €3,466 | €500 | -€2,967 | -85.6% |
| Taxes | 450/3 | €3,466 | €500 | -€2,967 | -85.6% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €14,800 | €0 | -€14,800 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €504 | +€504 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €234 | €1,553 | +€1,319 | +564.3% |
| Other operating charges | 640/8 | €322 | €407 | +€86 | +26.7% |
| Gross operating margin | 9900 | €18,013 | €21,118 | +€3,104 | +17.2% |
| Operating profit (loss) | 9901 | €17,458 | €18,653 | +€1,195 | +6.8% |
| Financial income | 75/76B | €0 | €0 | = | |
| Recurring financial income | 75 | €0 | €0 | = | |
| Financial charges | 65/66B | €59 | €814 | +€755 | +1291.2% |
| Recurring financial charges | 65 | €59 | €814 | +€755 | +1291.2% |
| Profit (loss) for the period before taxes | 9903 | €17,399 | €17,839 | +€440 | +2.5% |
| Income taxes | 67/77 | €5,246 | €5,331 | +€85 | +1.6% |
| Profit (loss) for the period | 9904 | €12,153 | €12,508 | +€355 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,153 | €12,508 | +€355 | +2.9% |
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 8 October 2026 via checked.be.