Dany GARBIN: 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.
Dany GARBIN
Largest movements
- Receivables within one year +€35,487
up €35,487 (+45.4%), from €78,206 to €113,694
of which Trade receivables: +€25,609
- Cash +€19,728
up €19,728 (+843%), from €2,339 to €22,068
mainly Accrued charges and deferred income (+€46,835) and Depreciation (+€24,513)
- Stocks and contracts -€15,588
down €15,588 (-87.9%), from €17,732 to €2,143
- Tangible fixed assets +€4,717
up €4,717 (+4.7%), from €99,604 to €104,321
of which Furniture and vehicles: +€16,527
- Deferred charges and accrued income +€4,066
up €4,066 (+4,146%), from €98 to €4,164
- Accrued charges and deferred income +€46,835
new in 2025: €46,835
- Profit (loss) carried forward +€17,765
up €17,765 (+39.0%), from €45,565 to €63,330
- Trade debts -€16,529
down €16,529 (-42.9%), from €38,560 to €22,031
- Short-term financial debts -€5,417
no longer reported in 2025 (was €5,417)
- Current portion of long-term debt +€3,033
up €3,033 (+46.3%), from €6,550 to €9,583
- Gross operating margin +€49,071
up €49,071 (+11.9%), from €412,302 to €461,374
- Staff costs +€18,842
up €18,842 (+4.9%), from €381,968 to €400,810
- Taxes +€7,915
up €7,915 (+1,034%), from €765 to €8,681
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 | €197,979 | €246,390 | +€48,411 | +24.5% |
| Fixed assets | 21/28 | €99,604 | €104,321 | +€4,717 | +4.7% |
| Tangible fixed assets | 22/27 | €99,604 | €104,321 | +€4,717 | +4.7% |
| Land and buildings | 22 | €46,587 | €41,712 | -€4,875 | -10.5% |
| Plant, machinery and equipment | 23 | €40,139 | €33,205 | -€6,935 | -17.3% |
| Furniture and vehicles | 24 | €12,877 | €29,404 | +€16,527 | +128% |
| Current assets | 29/58 | €98,375 | €142,069 | +€43,694 | +44.4% |
| Stocks and contracts in progress | 3 | €17,732 | €2,143 | -€15,588 | -87.9% |
| Stocks | 30/36 | €17,732 | €2,143 | -€15,588 | -87.9% |
| Amounts receivable within one year | 40/41 | €78,206 | €113,694 | +€35,487 | +45.4% |
| Trade receivables | 40 | €64,140 | €89,749 | +€25,609 | +39.9% |
| Other amounts receivable | 41 | €14,066 | €23,944 | +€9,879 | +70.2% |
| Cash at bank and in hand | 54/58 | €2,339 | €22,068 | +€19,728 | +843% |
| Deferred charges and accrued income | 490/1 | €98 | €4,164 | +€4,066 | +4,146% |
| Total equity and liabilities | 10/49 | €197,979 | €246,390 | +€48,411 | +24.5% |
| Equity | 10/15 | €102,048 | €119,813 | +€17,765 | +17.4% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €42,223 | €42,223 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,010 | €13,010 | = | 0.0% |
| Distributable reserves | 133 | €29,213 | €29,213 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,565 | €63,330 | +€17,765 | +39.0% |
| Amounts payable | 17/49 | €95,931 | €126,578 | +€30,646 | +31.9% |
| Amounts payable after more than one year | 17 | €30,792 | €30,673 | -€119 | -0.4% |
| Financial debts | 170/4 | €30,792 | €30,673 | -€119 | -0.4% |
| Amounts payable within one year | 42/48 | €65,139 | €49,069 | -€16,070 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €6,550 | €9,583 | +€3,033 | +46.3% |
| Financial debts | 43 | €5,417 | - | -€5,417 | |
| Credit institutions | 430/8 | €5,417 | - | -€5,417 | |
| Trade debts | 44 | €38,560 | €22,031 | -€16,529 | -42.9% |
| Suppliers | 440/4 | €38,560 | €22,031 | -€16,529 | -42.9% |
| Taxes, remuneration and social security | 45 | €14,612 | €17,455 | +€2,843 | +19.5% |
| Taxes | 450/3 | €9,575 | €11,097 | +€1,522 | +15.9% |
| Remuneration and social security | 454/9 | €5,037 | €6,358 | +€1,321 | +26.2% |
| Accrued charges and deferred income | 492/3 | - | €46,835 | +€46,835 | |
| Remuneration, social security and pensions | 62 | €381,968 | €400,810 | +€18,842 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,444 | €24,513 | +€1,069 | +4.6% |
| Other operating charges | 640/8 | €4,416 | €4,345 | -€71 | -1.6% |
| Gross operating margin | 9900 | €412,302 | €461,374 | +€49,071 | +11.9% |
| Operating profit (loss) | 9901 | €2,474 | €31,705 | +€29,231 | +1,182% |
| Financial income | 75/76B | €2,160 | - | -€2,160 | |
| Recurring financial income | 75 | €2,160 | - | -€2,160 | |
| Financial charges | 65/66B | €3,315 | €5,260 | +€1,944 | +58.7% |
| Recurring financial charges | 65 | €3,315 | €5,260 | +€1,944 | +58.7% |
| Profit (loss) for the period before taxes | 9903 | €1,319 | €26,445 | +€25,127 | +1,905% |
| Income taxes | 67/77 | €765 | €8,681 | +€7,915 | +1,034% |
| Profit (loss) for the period | 9904 | €553 | €17,765 | +€17,211 | +3,110% |
| Profit (loss) for the period to be appropriated | 9905 | €553 | €17,765 | +€17,211 | +3,110% |
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 20 October 2026 via checked.be.