GARADOC: 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.
GARADOC
Largest movements
- Deferred charges and accrued income +€137,166
up €137,166 (+2,321%), from €5,911 to €143,077
- Tangible fixed assets -€55,551
no longer reported in 2025 (was €55,551)
- Cash +€20,646
up €20,646 (+345%), from €5,976 to €26,622
mainly Net result for the year (+€76,815) and Investment in fixed assets (net) (+€55,551)
- Receivables within one year +€5,114
up €5,114 (+86.6%), from €5,905 to €11,019
of which Trade receivables: +€6,134
- Reserves +€59,146
up €59,146 (+170%), from €34,833 to €93,979
- Tax, wage and social debts +€35,915
new in 2025: €35,915
- Profit (loss) carried forward +€17,669
no longer reported in 2025 (was -€17,669)
- Other debts -€6,881
down €6,881 (-61.9%), from €11,116 to €4,235
- Gross operating margin +€113,378
up €113,378 (+2,958%), from €3,833 to €117,211
- Taxes +€35,915
new in 2025: €35,915
- Other operating charges +€3,630
up €3,630 (+438%), from €829 to €4,459
- Depreciation -€3,198
no longer reported in 2025 (was €3,198)
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 | €73,343 | €180,718 | +€107,375 | +146% |
| Fixed assets | 21/28 | €55,551 | - | -€55,551 | |
| Tangible fixed assets | 22/27 | €55,551 | - | -€55,551 | |
| Land and buildings | 22 | €55,551 | - | -€55,551 | |
| Current assets | 29/58 | €17,792 | €180,718 | +€162,926 | +916% |
| Amounts receivable within one year | 40/41 | €5,905 | €11,019 | +€5,114 | +86.6% |
| Trade receivables | 40 | €4,550 | €10,684 | +€6,134 | +135% |
| Other amounts receivable | 41 | €1,355 | €335 | -€1,020 | -75.3% |
| Cash at bank and in hand | 54/58 | €5,976 | €26,622 | +€20,646 | +345% |
| Deferred charges and accrued income | 490/1 | €5,911 | €143,077 | +€137,166 | +2,321% |
| Total equity and liabilities | 10/49 | €73,343 | €180,718 | +€107,375 | +146% |
| Equity | 10/15 | €60,545 | €137,360 | +€76,815 | +127% |
| Contributions | 10/11 | €43,381 | €43,381 | +€0 | 0.0% |
| Reserves | 13 | €34,833 | €93,979 | +€59,146 | +170% |
| Distributable reserves | 133 | €34,833 | €93,979 | +€59,146 | +170% |
| Profit (loss) carried forward | 14 | -€17,669 | - | +€17,669 | |
| Amounts payable | 17/49 | €12,798 | €43,358 | +€30,560 | +239% |
| Amounts payable within one year | 42/48 | €12,798 | €42,358 | +€29,560 | +231% |
| Trade debts | 44 | €1,682 | €2,209 | +€527 | +31.3% |
| Suppliers | 440/4 | €1,682 | €2,209 | +€527 | +31.3% |
| Taxes, remuneration and social security | 45 | - | €35,915 | +€35,915 | |
| Taxes | 450/3 | - | €35,915 | +€35,915 | |
| Other amounts payable | 47/48 | €11,116 | €4,235 | -€6,881 | -61.9% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Non-recurring operating income | 76A | - | €113,199 | +€113,199 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,198 | - | -€3,198 | |
| Other operating charges | 640/8 | €829 | €4,459 | +€3,630 | +438% |
| Gross operating margin | 9900 | €3,833 | €117,211 | +€113,378 | +2,958% |
| Operating profit (loss) | 9901 | -€194 | €112,752 | +€112,946 | |
| Financial charges | 65/66B | €110 | €23 | -€88 | -79.5% |
| Recurring financial charges | 65 | €110 | €23 | -€88 | -79.5% |
| Profit (loss) for the period before taxes | 9903 | -€304 | €112,730 | +€113,034 | |
| Income taxes | 67/77 | - | €35,915 | +€35,915 | |
| Profit (loss) for the period | 9904 | -€304 | €76,815 | +€77,119 | |
| Profit (loss) for the period to be appropriated | 9905 | -€304 | €76,815 | +€77,119 |
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 13 October 2026 via checked.be.