Garage Pax: 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.
What changed
Garage Pax
NACE 46.712, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€62,301
2024 · -€391,489+€453,790
Equity
€86,262
2024 · €23,961+€62,301
Cash
€20,199
2024 · €678,804-€658,604
Balance sheet total
€2.9m
2024 · €2.0m+€926,349
Largest movements
Assets
- Stocks and contracts +€1.4m
up €1.4m (+522%), from €276,633 to €1.7m
- Cash -€658,604
down €658,604 (-97.0%), from €678,804 to €20,199
mainly Stocks and contracts (-€1.4m) and Advances received (-€284,800)
- Receivables within one year +€182,977
up €182,977 (+50.9%), from €359,727 to €542,704
of which Trade receivables: +€311,742
- Tangible fixed assets -€45,246
down €45,246 (-6.9%), from €652,267 to €607,021
of which Land and buildings: -€31,389
Equity and liabilities
- Other debts +€1.1m
up €1.1m (+291%), from €362,257 to €1.4m
- Advances received -€284,800
down €284,800 (-82.6%), from €344,800 to €60,000
- Trade debts +€119,865
up €119,865 (+19.9%), from €600,880 to €720,745
- Profit (loss) carried forward +€58,539
up €58,539, from -€58,539 to €0
Income statement
- Write-downs -€450,921
down €450,921, from €215,209 to -€235,712
- Other operating charges -€88,114
down €88,114 (-24.6%), from €357,947 to €269,833
- Gross operating margin +€46,178
up €46,178 (+18.7%), from €246,834 to €293,011
- Financial charges -€29,303
down €29,303 (-36.9%), from €79,506 to €50,204
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
-€391,489
Gross operating margin
+€46,178
Staff costs
-€2,727
Depreciation
+€1,096
Write-downs
+€450,921
Other operating charges
+€88,114
Other operating items
+€14,633
Financial income
-€29
Financial charges
+€29,303
Taxes
-€89
Deferred taxes and other
-€173,611
Result 2025
€62,301
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€623,815
Investment
€0
Financing
-€34,789
Cash 2024
€678,804
From operations (derived)
-€623,815
Net result for the year
+€62,301
Depreciation
+€47,377
Stocks and contracts
-€1.4m
Receivables within one year
-€182,977
Deferred charges and accrued income
-€6,658
Trade debts
+€119,865
Tax, wage and social debts
-€404
Advances received
-€284,800
Other debts
+€1.1m
Accrued charges and deferred income
+€10,679
Financing
-€34,789
Debts after one year
-€21,838
Current portion of long-term debt
-€12,952
Cash 2025
€20,199
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,998,798 | €2,925,146 | +€926,349 | +46.3% |
| Fixed assets | 21/28 | €683,634 | €636,258 | -€47,377 | -6.9% |
| Intangible fixed assets | 21 | €10,211 | €8,080 | -€2,131 | -20.9% |
| Tangible fixed assets | 22/27 | €652,267 | €607,021 | -€45,246 | -6.9% |
| Land and buildings | 22 | €477,678 | €446,289 | -€31,389 | -6.6% |
| Furniture and vehicles | 24 | €24,588 | €10,732 | -€13,857 | -56.4% |
| Assets under construction and advance payments | 27 | €150,000 | €150,000 | = | 0.0% |
| Financial fixed assets | 28 | €21,156 | €21,156 | = | 0.0% |
| Current assets | 29/58 | €1,315,163 | €2,288,889 | +€973,725 | +74.0% |
| Stocks and contracts in progress | 3 | €276,633 | €1,719,328 | +€1.4m | +522% |
| Stocks | 30/36 | €276,633 | €1,719,328 | +€1.4m | +522% |
| Amounts receivable within one year | 40/41 | €359,727 | €542,704 | +€182,977 | +50.9% |
| Trade receivables | 40 | €229,684 | €541,426 | +€311,742 | +136% |
| Other amounts receivable | 41 | €130,043 | €1,278 | -€128,765 | -99.0% |
| Cash at bank and in hand | 54/58 | €678,804 | €20,199 | -€658,604 | -97.0% |
| Deferred charges and accrued income | 490/1 | - | €6,658 | +€6,658 | |
| Total equity and liabilities | 10/49 | €1,998,798 | €2,925,146 | +€926,349 | +46.3% |
| Equity | 10/15 | €23,961 | €86,262 | +€62,301 | +260% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €11,262 | +€3,762 | +50.2% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | - | €3,762 | +€3,762 | |
| Profit (loss) carried forward | 14 | -€58,539 | €0 | +€58,539 | |
| Amounts payable | 17/49 | €1,974,837 | €2,838,885 | +€864,048 | +43.8% |
| Amounts payable after more than one year | 17 | €296,525 | €274,688 | -€21,838 | -7.4% |
| Financial debts | 170/4 | €289,025 | €267,188 | -€21,838 | -7.6% |
| Other amounts payable | 178/9 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,667,178 | €2,542,384 | +€875,206 | +52.5% |
| Current portion of amounts payable after more than one year | 42 | €34,789 | €21,838 | -€12,952 | -37.2% |
| Financial debts | 43 | €280,000 | €280,000 | = | 0.0% |
| Credit institutions | 430/8 | €280,000 | €280,000 | = | 0.0% |
| Trade debts | 44 | €600,880 | €720,745 | +€119,865 | +19.9% |
| Suppliers | 440/4 | €600,880 | €720,745 | +€119,865 | +19.9% |
| Advances received on contracts in progress | 46 | €344,800 | €60,000 | -€284,800 | -82.6% |
| Taxes, remuneration and social security | 45 | €44,452 | €44,048 | -€404 | -0.9% |
| Taxes | 450/3 | €32,800 | €13,747 | -€19,053 | -58.1% |
| Remuneration and social security | 454/9 | €11,652 | €30,301 | +€18,649 | +160% |
| Other amounts payable | 47/48 | €362,257 | €1,415,753 | +€1.1m | +291% |
| Accrued charges and deferred income | 492/3 | €11,133 | €21,813 | +€10,679 | +95.9% |
| Non-recurring operating income | 76A | €414,705 | €8,347 | -€406,358 | -98.0% |
| Remuneration, social security and pensions | 62 | €95,199 | €97,926 | +€2,727 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,473 | €47,377 | -€1,096 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €215,209 | -€235,712 | -€450,921 | |
| Other operating charges | 640/8 | €357,947 | €269,833 | -€88,114 | -24.6% |
| Non-recurring operating charges | 66A | €14,633 | €0 | -€14,633 | -100% |
| Gross operating margin | 9900 | €246,834 | €293,011 | +€46,178 | +18.7% |
| Operating profit (loss) | 9901 | -€484,627 | €113,589 | +€598,216 | |
| Financial income | 75/76B | €45 | €17 | -€29 | -63.5% |
| Recurring financial income | 75 | €45 | €17 | -€29 | -63.5% |
| Financial charges | 65/66B | €79,506 | €50,204 | -€29,303 | -36.9% |
| Recurring financial charges | 65 | €79,506 | €50,204 | -€29,303 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | -€564,088 | €63,402 | +€627,490 | |
| Transfer from deferred taxes | 780 | €173,611 | €0 | -€173,611 | -100% |
| Income taxes | 67/77 | €1,011 | €1,101 | +€89 | +8.8% |
| Profit (loss) for the period | 9904 | -€391,489 | €62,301 | +€453,790 | |
| Transfer from tax-exempt reserves | 789 | €365,488 | €0 | -€365,488 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,002 | €62,301 | +€88,302 |
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 1 November 2026 via checked.be.