GARAGE BAERT: 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.
GARAGE BAERT
Largest movements
- Cash +€116,740
up €116,740 (+26.2%), from €445,751 to €562,490
mainly Depreciation (+€85,528) and Net result for the year (+€82,363)
- Tangible fixed assets -€62,390
down €62,390 (-16.1%), from €388,339 to €325,949
- Receivables within one year +€18,571
up €18,571 (+28.7%), from €64,705 to €83,275
of which Other amounts receivable: +€31,341
- Reserves +€82,363
up €82,363 (+8.4%), from €979,528 to €1.1m
of which Distributable reserves: +€90,261
- Trade debts +€53,614
up €53,614 (+2699.2%), from €1,986 to €55,600
- Other debts -€46,478
down €46,478 (-16.1%), from €289,089 to €242,611
- Gross operating margin -€123,172
down €123,172 (-20.6%), from €596,743 to €473,571
- Taxes -€35,842
down €35,842 (-49.6%), from €72,322 to €36,480
- Other operating charges -€12,058
down €12,058 (-31.1%), from €38,759 to €26,701
- Staff costs +€9,938
up €9,938 (+4.6%), from €216,740 to €226,677
- Financial charges +€8,664
up €8,664 (+95.0%), from €9,120 to €17,785
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 | €1,487,986 | €1,561,744 | +€73,758 | +5.0% |
| Fixed assets | 21/28 | €390,621 | €328,231 | -€62,390 | -16.0% |
| Tangible fixed assets | 22/27 | €388,339 | €325,949 | -€62,390 | -16.1% |
| Land and buildings | 22 | €179,512 | €166,862 | -€12,650 | -7.0% |
| Plant, machinery and equipment | 23 | €50,701 | €33,180 | -€17,521 | -34.6% |
| Furniture and vehicles | 24 | €83,782 | €60,711 | -€23,071 | -27.5% |
| Other tangible fixed assets | 26 | €74,344 | €65,196 | -€9,148 | -12.3% |
| Financial fixed assets | 28 | €2,283 | €2,283 | = | 0.0% |
| Current assets | 29/58 | €1,097,364 | €1,233,513 | +€136,148 | +12.4% |
| Stocks and contracts in progress | 3 | €582,845 | €586,802 | +€3,957 | +0.7% |
| Stocks | 30/36 | €582,845 | €586,802 | +€3,957 | +0.7% |
| Amounts receivable within one year | 40/41 | €64,705 | €83,275 | +€18,571 | +28.7% |
| Trade receivables | 40 | €52,607 | €39,837 | -€12,770 | -24.3% |
| Other amounts receivable | 41 | €12,097 | €43,439 | +€31,341 | +259.1% |
| Cash at bank and in hand | 54/58 | €445,751 | €562,490 | +€116,740 | +26.2% |
| Deferred charges and accrued income | 490/1 | €4,064 | €945 | -€3,119 | -76.8% |
| Total equity and liabilities | 10/49 | €1,487,986 | €1,561,744 | +€73,758 | +5.0% |
| Equity | 10/15 | €1,136,928 | €1,219,291 | +€82,363 | +7.2% |
| Contributions | 10/11 | €157,400 | €157,400 | = | 0.0% |
| Capital | 10 | €157,400 | €157,400 | = | 0.0% |
| Issued capital | 100 | €157,400 | €157,400 | = | 0.0% |
| Reserves | 13 | €979,528 | €1,061,891 | +€82,363 | +8.4% |
| Non-distributable reserves | 130/1 | €38,964 | €31,067 | -€7,897 | -20.3% |
| Legal reserve | 130 | €38,964 | €31,067 | -€7,897 | -20.3% |
| Tax-exempt reserves | 132 | €51,500 | €51,500 | = | 0.0% |
| Distributable reserves | 133 | €889,064 | €979,325 | +€90,261 | +10.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €351,057 | €342,453 | -€8,605 | -2.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €345,616 | €330,777 | -€14,839 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €8,246 | €0 | -€8,246 | -100.0% |
| Trade debts | 44 | €1,986 | €55,600 | +€53,614 | +2699.2% |
| Suppliers | 440/4 | €1,986 | €55,600 | +€53,614 | +2699.2% |
| Taxes, remuneration and social security | 45 | €46,294 | €32,566 | -€13,729 | -29.7% |
| Taxes | 450/3 | €21,537 | €7,073 | -€14,464 | -67.2% |
| Remuneration and social security | 454/9 | €24,757 | €25,492 | +€735 | +3.0% |
| Other amounts payable | 47/48 | €289,089 | €242,611 | -€46,478 | -16.1% |
| Accrued charges and deferred income | 492/3 | €5,442 | €11,676 | +€6,234 | +114.6% |
| Remuneration, social security and pensions | 62 | €216,740 | €226,677 | +€9,938 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,266 | €85,528 | +€1,262 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,173 | €0 | -€5,173 | -100.0% |
| Other operating charges | 640/8 | €38,759 | €26,701 | -€12,058 | -31.1% |
| Non-recurring operating charges | 66A | €13,259 | €0 | -€13,259 | -100.0% |
| Gross operating margin | 9900 | €596,743 | €473,571 | -€123,172 | -20.6% |
| Operating profit (loss) | 9901 | €238,547 | €134,665 | -€103,882 | -43.5% |
| Financial income | 75/76B | €3,146 | €1,963 | -€1,183 | -37.6% |
| Recurring financial income | 75 | €3,146 | €1,963 | -€1,183 | -37.6% |
| Financial charges | 65/66B | €9,120 | €17,785 | +€8,664 | +95.0% |
| Recurring financial charges | 65 | €9,120 | €17,785 | +€8,664 | +95.0% |
| Profit (loss) for the period before taxes | 9903 | €232,573 | €118,843 | -€113,730 | -48.9% |
| Income taxes | 67/77 | €72,322 | €36,480 | -€35,842 | -49.6% |
| Profit (loss) for the period | 9904 | €160,251 | €82,363 | -€77,888 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €160,251 | €82,363 | -€77,888 | -48.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.