DE GAARDE - HARBOUR CITY: 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.
DE GAARDE - HARBOUR CITY
Largest movements
- Tangible fixed assets +€177,400
up €177,400 (+4,415%), from €4,018 to €181,418
of which Land and buildings: +€174,429
- Receivables within one year -€31,286
down €31,286 (-80.1%), from €39,058 to €7,772
of which Other amounts receivable: -€31,598
- Cash -€9,621
down €9,621 (-98.5%), from €9,765 to €143
mainly Investment in fixed assets (net) (-€183,514) and Short-term financial debts (-€7,485)
- Debts after one year +€117,258
up €117,258 (+276%), from €42,480 to €159,738
- Other debts +€15,383
new in 2025: €15,383
- Current portion of long-term debt +€9,557
up €9,557 (+86.6%), from €11,033 to €20,591
- Short-term financial debts -€7,485
down €7,485 (-53.8%), from €13,906 to €6,421
- Trade debts +€4,963
up €4,963 (+316%), from €1,569 to €6,532
- Depreciation +€5,454
up €5,454 (+237%), from €2,303 to €7,757
- Gross operating margin +€5,424
up €5,424 (+53.8%), from €10,080 to €15,503
- Financial charges +€3,494
up €3,494 (+70.8%), from €4,936 to €8,431
- Financial income -€1,439
down €1,439 (-99.7%), from €1,443 to €4
- Other operating charges +€554
up €554 (+43.7%), from €1,267 to €1,820
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 | €59,560 | €193,516 | +€133,957 | +225% |
| Fixed assets | 21/28 | €9,511 | €185,268 | +€175,757 | +1,848% |
| Intangible fixed assets | 21 | €5,358 | €3,715 | -€1,643 | -30.7% |
| Tangible fixed assets | 22/27 | €4,018 | €181,418 | +€177,400 | +4,415% |
| Land and buildings | 22 | - | €174,429 | +€174,429 | |
| Plant, machinery and equipment | 23 | €396 | €217 | -€179 | -45.1% |
| Furniture and vehicles | 24 | €1,780 | €1,855 | +€75 | +4.2% |
| Other tangible fixed assets | 26 | €1,843 | €4,917 | +€3,074 | +167% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €50,048 | €8,249 | -€41,800 | -83.5% |
| Amounts receivable within one year | 40/41 | €39,058 | €7,772 | -€31,286 | -80.1% |
| Trade receivables | 40 | €7,455 | €7,768 | +€312 | +4.2% |
| Other amounts receivable | 41 | €31,603 | €5 | -€31,598 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,765 | €143 | -€9,621 | -98.5% |
| Deferred charges and accrued income | 490/1 | €1,226 | €333 | -€893 | -72.8% |
| Total equity and liabilities | 10/49 | €59,560 | €193,516 | +€133,957 | +225% |
| Equity | 10/15 | -€14,859 | -€17,500 | -€2,642 | -17.8% |
| Contributions | 10/11 | €61,000 | €61,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,859 | -€78,500 | -€2,642 | -3.5% |
| Amounts payable | 17/49 | €74,418 | €211,017 | +€136,598 | +184% |
| Amounts payable after more than one year | 17 | €42,480 | €159,738 | +€117,258 | +276% |
| Financial debts | 170/4 | €42,480 | €159,738 | +€117,258 | +276% |
| Amounts payable within one year | 42/48 | €30,981 | €51,204 | +€20,224 | +65.3% |
| Current portion of amounts payable after more than one year | 42 | €11,033 | €20,591 | +€9,557 | +86.6% |
| Financial debts | 43 | €13,906 | €6,421 | -€7,485 | -53.8% |
| Credit institutions | 430/8 | €13,906 | €6,421 | -€7,485 | -53.8% |
| Trade debts | 44 | €1,569 | €6,532 | +€4,963 | +316% |
| Suppliers | 440/4 | €1,569 | €6,532 | +€4,963 | +316% |
| Taxes, remuneration and social security | 45 | €4,472 | €2,278 | -€2,194 | -49.1% |
| Taxes | 450/3 | €4,472 | €2,278 | -€2,194 | -49.1% |
| Other amounts payable | 47/48 | - | €15,383 | +€15,383 | |
| Accrued charges and deferred income | 492/3 | €958 | €74 | -€883 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,303 | €7,757 | +€5,454 | +237% |
| Other operating charges | 640/8 | €1,267 | €1,820 | +€554 | +43.7% |
| Gross operating margin | 9900 | €10,080 | €15,503 | +€5,424 | +53.8% |
| Operating profit (loss) | 9901 | €6,510 | €5,926 | -€584 | -9.0% |
| Financial income | 75/76B | €1,443 | €4 | -€1,439 | -99.7% |
| Recurring financial income | 75 | €1,443 | €4 | -€1,439 | -99.7% |
| Financial charges | 65/66B | €4,936 | €8,431 | +€3,494 | +70.8% |
| Recurring financial charges | 65 | €4,936 | €8,431 | +€3,494 | +70.8% |
| Profit (loss) for the period before taxes | 9903 | €3,016 | -€2,501 | -€5,517 | |
| Income taxes | 67/77 | €139 | €141 | +€1 | +1.1% |
| Profit (loss) for the period | 9904 | €2,877 | -€2,642 | -€5,519 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,877 | -€2,642 | -€5,519 |
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 21 October 2026 via checked.be.