Garage Pigeon: what changed
What changed
Garage Pigeon
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
filed annual accounts (NBB)
Net result for the year
-€43,982
2024 · €11,542-€55,523
Equity
€1.6m
2024 · €1.6m-€43,982
Cash
€952,665
2024 · €918,299+€34,366
Balance sheet total
€1.9m
2024 · €1.9m-€28,592
Largest movements
Assets
- Tangible fixed assets -€41,641
down €41,641 (-7.4%), from €565,642 to €524,002
of which Land and buildings: -€50,149
- Cash +€34,366
up €34,366 (+3.7%), from €918,299 to €952,665
mainly Depreciation (+€102,197) and Other debts (+€17,484)
Equity and liabilities
- Profit (loss) carried forward -€43,982
down €43,982 (-8.4%), from €524,059 to €480,078
Income statement
- Gross operating margin -€100,115
down €100,115 (-14.9%), from €672,562 to €572,447
- Depreciation -€29,362
down €29,362 (-22.3%), from €131,559 to €102,197
- Staff costs -€17,749
down €17,749 (-3.4%), from €515,372 to €497,624
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€11,542
Gross operating margin
-€100,115
Staff costs
+€17,749
Depreciation
+€29,362
Write-downs
-€731
Other operating charges
-€2,110
Financial income
-€224
Financial charges
+€545
Result 2025
-€43,982
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€94,922
Investment
-€60,556
Financing
€0
Cash 2024
€918,299
From operations (derived)
+€94,922
Net result for the year
-€43,982
Depreciation
+€102,197
Receivables after one year
+€13,800
Stocks and contracts
+€14,768
Receivables within one year
-€12,426
Deferred charges and accrued income
+€5,175
Trade debts
-€10,984
Tax, wage and social debts
-€1,304
Advances received
-€1,957
Other debts
+€17,484
Accrued charges and deferred income
+€12,150
Investment (derived)
-€60,556
Investment in fixed assets (net)
-€60,556
Cash 2025
€952,665
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,928,817 | €1,900,225 | -€28,592 | -1.5% |
| Fixed assets | 21/28 | €565,728 | €524,087 | -€41,641 | -7.4% |
| Tangible fixed assets | 22/27 | €565,642 | €524,002 | -€41,641 | -7.4% |
| Land and buildings | 22 | €365,812 | €315,662 | -€50,149 | -13.7% |
| Plant, machinery and equipment | 23 | €127,413 | €134,645 | +€7,232 | +5.7% |
| Furniture and vehicles | 24 | €72,418 | €73,695 | +€1,277 | +1.8% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €1,363,089 | €1,376,137 | +€13,048 | +1.0% |
| Amounts receivable after more than one year | 29 | €148,400 | €134,600 | -€13,800 | -9.3% |
| Other amounts receivable | 291 | €148,400 | €134,600 | -€13,800 | -9.3% |
| Stocks and contracts in progress | 3 | €135,253 | €120,485 | -€14,768 | -10.9% |
| Stocks | 30/36 | €135,253 | €120,485 | -€14,768 | -10.9% |
| Amounts receivable within one year | 40/41 | €126,099 | €138,525 | +€12,426 | +9.9% |
| Trade receivables | 40 | €48,304 | €81,617 | +€33,314 | +69.0% |
| Other amounts receivable | 41 | €77,796 | €56,908 | -€20,888 | -26.8% |
| Cash at bank and in hand | 54/58 | €918,299 | €952,665 | +€34,366 | +3.7% |
| Deferred charges and accrued income | 490/1 | €35,038 | €29,862 | -€5,175 | -14.8% |
| Total equity and liabilities | 10/49 | €1,928,817 | €1,900,225 | -€28,592 | -1.5% |
| Equity | 10/15 | €1,610,109 | €1,566,127 | -€43,982 | -2.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,024,049 | €1,024,049 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,049 | €24,049 | = | 0.0% |
| Legal reserve | 130 | €8,850 | €8,850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,200 | €15,200 | = | 0.0% |
| Distributable reserves | 133 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €524,059 | €480,078 | -€43,982 | -8.4% |
| Amounts payable | 17/49 | €318,709 | €334,098 | +€15,389 | +4.8% |
| Amounts payable within one year | 42/48 | €309,605 | €312,844 | +€3,239 | +1.0% |
| Trade debts | 44 | €77,251 | €66,267 | -€10,984 | -14.2% |
| Suppliers | 440/4 | €77,251 | €66,267 | -€10,984 | -14.2% |
| Advances received on contracts in progress | 46 | €12,578 | €10,621 | -€1,957 | -15.6% |
| Taxes, remuneration and social security | 45 | €46,231 | €44,927 | -€1,304 | -2.8% |
| Taxes | 450/3 | €2,955 | €5,762 | +€2,807 | +95.0% |
| Remuneration and social security | 454/9 | €43,276 | €39,164 | -€4,112 | -9.5% |
| Other amounts payable | 47/48 | €173,545 | €191,029 | +€17,484 | +10.1% |
| Accrued charges and deferred income | 492/3 | €9,103 | €21,254 | +€12,150 | +133% |
| Remuneration, social security and pensions | 62 | €515,372 | €497,624 | -€17,749 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,559 | €102,197 | -€29,362 | -22.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €731 | +€731 | |
| Other operating charges | 640/8 | €13,933 | €16,043 | +€2,110 | +15.1% |
| Gross operating margin | 9900 | €672,562 | €572,447 | -€100,115 | -14.9% |
| Operating profit (loss) | 9901 | €11,698 | -€44,146 | -€55,844 | |
| Financial income | 75/76B | €7,459 | €7,235 | -€224 | -3.0% |
| Recurring financial income | 75 | €7,459 | €7,235 | -€224 | -3.0% |
| Financial charges | 65/66B | €7,616 | €7,070 | -€545 | -7.2% |
| Recurring financial charges | 65 | €7,616 | €7,070 | -€545 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €11,542 | -€43,982 | -€55,523 | |
| Profit (loss) for the period | 9904 | €11,542 | -€43,982 | -€55,523 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,542 | -€43,982 | -€55,523 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.