ANDRE GARIN: 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.
What changed
ANDRE GARIN
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4,450
2024 · €23,853-€19,403
Equity
€263,118
2024 · €258,668+€4,450
Cash
€131,985
2024 · €138,123-€6,138
Balance sheet total
€1.0m
2024 · €1.2m-€157,841
Largest movements
Assets
- Tangible fixed assets -€105,050
down €105,050 (-13.6%), from €771,861 to €666,811
of which Furniture and vehicles: -€81,014
- Receivables within one year -€25,925
down €25,925 (-12.5%), from €207,230 to €181,305
of which Trade receivables: -€26,121
- Stocks and contracts -€14,500
down €14,500 (-29.6%), from €49,000 to €34,500
Equity and liabilities
- Debts after one year -€98,240
down €98,240 (-16.7%), from €589,717 to €491,477
- Trade debts -€76,017
down €76,017 (-34.7%), from €219,092 to €143,075
- Tax, wage and social debts +€15,042
up €15,042 (+70.1%), from €21,456 to €36,497
of which Taxes: +€14,819
Income statement
- Turnover -€144,799
down €144,799 (-3.8%), from €3.8m to €3.7m
- Purchases and services -€114,738
down €114,738 (-3.3%), from €3.5m to €3.4m
- Staff costs -€52,947
down €52,947 (-19.5%), from €271,371 to €218,424
- Gross operating margin -€42,418
down €42,418 (-10.5%), from €403,120 to €360,702
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.
Result 2024
€23,853
Gross operating margin
-€42,418
Staff costs
+€52,947
Depreciation
-€30,469
Other operating charges
+€2,781
Financial income
-€727
Financial charges
-€2,518
Taxes
+€999
Result 2025
€4,450
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.
From operations
+€98,023
Investment
-€8,335
Financing
-€95,826
Cash 2024
€138,123
From operations (derived)
+€98,023
Net result for the year
+€4,450
Depreciation
+€113,976
Stocks and contracts
+€14,500
Receivables within one year
+€25,925
Deferred charges and accrued income
+€5,637
Provisions
-€4,752
Trade debts
-€76,017
Tax, wage and social debts
+€15,042
Accrued charges and deferred income
-€737
Investment (derived)
-€8,335
Investment in fixed assets (net)
-€8,335
Financing
-€95,826
Debts after one year
-€98,240
Current portion of long-term debt
+€2,414
Cash 2025
€131,985
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,196,683 | €1,038,841 | -€157,841 | -13.2% |
| Fixed assets | 21/28 | €792,434 | €686,793 | -€105,641 | -13.3% |
| Intangible fixed assets | 21 | €19,898 | €19,307 | -€591 | -3.0% |
| Tangible fixed assets | 22/27 | €771,861 | €666,811 | -€105,050 | -13.6% |
| Land and buildings | 22 | €316,703 | €311,852 | -€4,851 | -1.5% |
| Plant, machinery and equipment | 23 | €1,572 | €673 | -€899 | -57.2% |
| Furniture and vehicles | 24 | €377,036 | €296,022 | -€81,014 | -21.5% |
| Leasing and similar rights | 25 | €76,550 | €58,264 | -€18,286 | -23.9% |
| Financial fixed assets | 28 | €675 | €675 | = | 0.0% |
| Current assets | 29/58 | €404,249 | €352,048 | -€52,200 | -12.9% |
| Stocks and contracts in progress | 3 | €49,000 | €34,500 | -€14,500 | -29.6% |
| Stocks | 30/36 | €49,000 | €34,500 | -€14,500 | -29.6% |
| Amounts receivable within one year | 40/41 | €207,230 | €181,305 | -€25,925 | -12.5% |
| Trade receivables | 40 | €205,939 | €179,818 | -€26,121 | -12.7% |
| Other amounts receivable | 41 | €1,292 | €1,488 | +€196 | +15.2% |
| Cash at bank and in hand | 54/58 | €138,123 | €131,985 | -€6,138 | -4.4% |
| Deferred charges and accrued income | 490/1 | €9,895 | €4,258 | -€5,637 | -57.0% |
| Total equity and liabilities | 10/49 | €1,196,683 | €1,038,841 | -€157,841 | -13.2% |
| Equity | 10/15 | €258,668 | €263,118 | +€4,450 | +1.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €57,478 | €53,573 | -€3,905 | -6.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,619 | €11,714 | -€3,905 | -25.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,216 | €147,571 | +€8,354 | +6.0% |
| Provisions and deferred taxes | 16 | €10,610 | €5,857 | -€4,752 | -44.8% |
| Provisions for liabilities and charges | 160/5 | €2,800 | - | -€2,800 | |
| Other liabilities and charges | 164/5 | €2,800 | - | -€2,800 | |
| Deferred taxes | 168 | €7,810 | €5,857 | -€1,952 | -25.0% |
| Amounts payable | 17/49 | €927,405 | €769,867 | -€157,538 | -17.0% |
| Amounts payable after more than one year | 17 | €589,717 | €491,477 | -€98,240 | -16.7% |
| Financial debts | 170/4 | €589,717 | €491,477 | -€98,240 | -16.7% |
| Amounts payable within one year | 42/48 | €336,474 | €277,912 | -€58,561 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €95,826 | €98,240 | +€2,414 | +2.5% |
| Trade debts | 44 | €219,092 | €143,075 | -€76,017 | -34.7% |
| Suppliers | 440/4 | €219,092 | €143,075 | -€76,017 | -34.7% |
| Taxes, remuneration and social security | 45 | €21,456 | €36,497 | +€15,042 | +70.1% |
| Taxes | 450/3 | €1,250 | €16,069 | +€14,819 | +1186.0% |
| Remuneration and social security | 454/9 | €20,206 | €20,429 | +€223 | +1.1% |
| Other amounts payable | 47/48 | €100 | €100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,215 | €478 | -€737 | -60.7% |
| Turnover | 70 | €3,800,566 | €3,655,767 | -€144,799 | -3.8% |
| Non-recurring operating income | 76A | €37,250 | €56,300 | +€19,050 | +51.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,496,440 | €3,381,702 | -€114,738 | -3.3% |
| Remuneration, social security and pensions | 62 | €271,371 | €218,424 | -€52,947 | -19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,507 | €113,976 | +€30,469 | +36.5% |
| Other operating charges | 640/8 | €11,352 | €8,571 | -€2,781 | -24.5% |
| Gross operating margin | 9900 | €403,120 | €360,702 | -€42,418 | -10.5% |
| Operating profit (loss) | 9901 | €36,889 | €19,731 | -€17,158 | -46.5% |
| Financial income | 75/76B | €732 | €6 | -€727 | -99.2% |
| Recurring financial income | 75 | €732 | €6 | -€727 | -99.2% |
| Financial charges | 65/66B | €14,720 | €17,238 | +€2,518 | +17.1% |
| Recurring financial charges | 65 | €14,720 | €17,238 | +€2,518 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €22,902 | €2,499 | -€20,403 | -89.1% |
| Transfer from deferred taxes | 780 | €1,952 | €1,952 | = | 0.0% |
| Income taxes | 67/77 | €1,001 | €2 | -€999 | -99.8% |
| Profit (loss) for the period | 9904 | €23,853 | €4,450 | -€19,403 | -81.3% |
| Transfer from tax-exempt reserves | 789 | €3,905 | €3,905 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,758 | €8,354 | -€19,403 | -69.9% |
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.