GARANCE: what changed
Two fiscal 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.
GARANCE
Largest movements
- Cash +€63,580
up €63,580 (+14.3%), from €444,055 to €507,635
mainly Accrued charges and deferred income (+€111,157) and Provisions (+€27,500)
- Receivables within one year +€57,459
up €57,459 (+27.4%), from €210,033 to €267,492
of which Other amounts receivable: +€70,145
- Tangible fixed assets -€19,503
down €19,503 (-8.6%), from €227,754 to €208,251
of which Land and buildings: -€18,500
- Accrued charges and deferred income +€111,157
up €111,157 (+83.2%), from €133,619 to €244,776
- Debts within one year -€31,033
down €31,033 (-18.0%), from €172,818 to €141,785
of which Tax, wage and social debts: -€26,419
- Provisions +€27,500
up €27,500 (+137.5%), from €20,000 to €47,500
- Debts after one year -€11,957
down €11,957 (-7.2%), from €166,658 to €154,701
- Staff costs -€98,868
down €98,868 (-14.1%), from €698,733 to €599,865
- Financial charges -€25,779
down €25,779 (-82.6%), from €31,203 to €5,424
- Financial income -€13,050
down €13,050 (-75.4%), from €17,318 to €4,268
of which Non-recurring financial income: -€14,521
- Turnover -€8,754
down €8,754 (-7.0%), from €125,884 to €117,130
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 | €886,281 | €988,544 | +€102,263 | +11.5% |
| Fixed assets | 21/28 | €227,904 | €208,401 | -€19,503 | -8.6% |
| Tangible fixed assets | 22/27 | €227,754 | €208,251 | -€19,503 | -8.6% |
| Land and buildings | 22 | €225,955 | €207,455 | -€18,500 | -8.2% |
| Plant, machinery and equipment | 23 | €1,799 | €796 | -€1,003 | -55.8% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €658,377 | €780,143 | +€121,766 | +18.5% |
| Amounts receivable within one year | 40/41 | €210,033 | €267,492 | +€57,459 | +27.4% |
| Trade receivables | 40 | €40,653 | €27,967 | -€12,686 | -31.2% |
| Other amounts receivable | 41 | €169,380 | €239,525 | +€70,145 | +41.4% |
| Cash at bank and in hand | 54/58 | €444,055 | €507,635 | +€63,580 | +14.3% |
| Deferred charges and accrued income | 490/1 | €4,289 | €5,016 | +€727 | +17.0% |
| Total equity and liabilities | 10/49 | €886,281 | €988,544 | +€102,263 | +11.5% |
| Equity | 10/15 | €393,186 | €399,782 | +€6,596 | +1.7% |
| Reserves | 13 | €112,636 | €112,636 | = | 0.0% |
| Profit (loss) carried forward | 14 | €280,550 | €287,146 | +€6,596 | +2.4% |
| Provisions and deferred taxes | 16 | €20,000 | €47,500 | +€27,500 | +137.5% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €21,500 | +€1,500 | +7.5% |
| Major repairs and maintenance | 162 | €20,000 | €21,500 | +€1,500 | +7.5% |
| Amounts payable | 17/49 | €473,095 | €541,262 | +€68,167 | +14.4% |
| Amounts payable after more than one year | 17 | €166,658 | €154,701 | -€11,957 | -7.2% |
| Financial debts | 170/4 | €166,658 | €154,701 | -€11,957 | -7.2% |
| Amounts payable within one year | 42/48 | €172,818 | €141,785 | -€31,033 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €40,738 | €24,482 | -€16,256 | -39.9% |
| Trade debts | 44 | €7,180 | €13,087 | +€5,907 | +82.3% |
| Suppliers | 440/4 | €7,180 | €13,087 | +€5,907 | +82.3% |
| Taxes, remuneration and social security | 45 | €123,831 | €97,412 | -€26,419 | -21.3% |
| Taxes | 450/3 | €7,081 | €6,121 | -€960 | -13.6% |
| Remuneration and social security | 454/9 | €116,750 | €91,291 | -€25,459 | -21.8% |
| Accrued charges and deferred income | 492/3 | €133,619 | €244,776 | +€111,157 | +83.2% |
| Turnover | 70 | €125,884 | €117,130 | -€8,754 | -7.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €147,822 | €147,760 | -€62 | 0.0% |
| Remuneration, social security and pensions | 62 | €698,733 | €599,865 | -€98,868 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,969 | €20,202 | +€233 | +1.2% |
| Other operating charges | 640/8 | €9,292 | €8,929 | -€363 | -3.9% |
| Non-recurring operating charges | 66A | €72 | - | -€72 | |
| Gross operating margin | 9900 | €669,129 | €664,248 | -€4,881 | -0.7% |
| Operating profit (loss) | 9901 | -€28,937 | €7,752 | +€36,689 | |
| Financial income | 75/76B | €17,318 | €4,268 | -€13,050 | -75.4% |
| Recurring financial income | 75 | €1,314 | €2,785 | +€1,471 | +111.9% |
| Non-recurring financial income | 76B | €16,004 | €1,483 | -€14,521 | -90.7% |
| Financial charges | 65/66B | €31,203 | €5,424 | -€25,779 | -82.6% |
| Recurring financial charges | 65 | €31,203 | €5,424 | -€25,779 | -82.6% |
| Profit (loss) for the period before taxes | 9903 | -€42,822 | €6,596 | +€49,418 | |
| Profit (loss) for the period | 9904 | -€42,822 | €6,596 | +€49,418 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,822 | €6,596 | +€49,418 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.