GARANT: 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.
GARANT
Largest movements
- Cash +€13,988
up €13,988 (+61.7%), from €22,672 to €36,660
mainly Net result for the year (+€17,827) and Receivables within one year (+€731)
- Reserves +€17,827
up €17,827 (+7.8%), from €229,307 to €247,134
of which Distributable reserves: +€17,827
- Tax, wage and social debts -€5,062
down €5,062 (-59.2%), from €8,553 to €3,491
- Turnover +€5,040
up €5,040 (+24.2%), from €20,820 to €25,860
- Gross operating margin +€4,377
up €4,377, from -€633 to €3,744
- Purchases and services +€663
up €663 (+2.9%), from €22,552 to €23,215
- Taxes +€381
up €381 (+27.2%), from €1,402 to €1,783
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 | €368,917 | €381,625 | +€12,708 | +3.4% |
| Fixed assets | 21/28 | €1,927 | €1,379 | -€548 | -28.4% |
| Tangible fixed assets | 22/27 | €1,927 | €1,379 | -€548 | -28.4% |
| Plant, machinery and equipment | 23 | €1,927 | €1,379 | -€548 | -28.4% |
| Current assets | 29/58 | €366,990 | €380,246 | +€13,256 | +3.6% |
| Amounts receivable after more than one year | 29 | €340,000 | €340,000 | = | 0.0% |
| Other amounts receivable | 291 | €340,000 | €340,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €731 | €0 | -€731 | -100.0% |
| Other amounts receivable | 41 | €731 | €0 | -€731 | -100.0% |
| Cash at bank and in hand | 54/58 | €22,672 | €36,660 | +€13,988 | +61.7% |
| Deferred charges and accrued income | 490/1 | €3,586 | €3,586 | = | 0.0% |
| Total equity and liabilities | 10/49 | €368,917 | €381,625 | +€12,708 | +3.4% |
| Equity | 10/15 | €360,307 | €378,134 | +€17,827 | +4.9% |
| Contributions | 10/11 | €131,000 | €131,000 | = | 0.0% |
| Capital | 10 | €131,000 | €131,000 | = | 0.0% |
| Issued capital | 100 | €131,000 | €131,000 | = | 0.0% |
| Reserves | 13 | €229,307 | €247,134 | +€17,827 | +7.8% |
| Non-distributable reserves | 130/1 | €13,100 | €13,100 | = | 0.0% |
| Legal reserve | 130 | €13,100 | €13,100 | = | 0.0% |
| Distributable reserves | 133 | €216,207 | €234,034 | +€17,827 | +8.2% |
| Amounts payable | 17/49 | €8,609 | €3,491 | -€5,118 | -59.5% |
| Amounts payable within one year | 42/48 | €8,609 | €3,491 | -€5,118 | -59.5% |
| Trade debts | 44 | €56 | €0 | -€56 | -100.0% |
| Suppliers | 440/4 | €56 | €0 | -€56 | -100.0% |
| Taxes, remuneration and social security | 45 | €8,553 | €3,491 | -€5,062 | -59.2% |
| Taxes | 450/3 | €8,553 | €3,491 | -€5,062 | -59.2% |
| Turnover | 70 | €20,820 | €25,860 | +€5,040 | +24.2% |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €22,552 | €23,215 | +€663 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €428 | €548 | +€120 | +28.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€633 | €3,744 | +€4,377 | |
| Operating profit (loss) | 9901 | -€1,567 | €2,676 | +€4,243 | |
| Financial income | 75/76B | €17,000 | €17,000 | = | 0.0% |
| Recurring financial income | 75 | €17,000 | €17,000 | = | 0.0% |
| Financial charges | 65/66B | €15 | €67 | +€51 | +333.3% |
| Recurring financial charges | 65 | €15 | €67 | +€51 | +333.3% |
| Profit (loss) for the period before taxes | 9903 | €15,418 | €19,609 | +€4,192 | +27.2% |
| Income taxes | 67/77 | €1,402 | €1,783 | +€381 | +27.2% |
| Profit (loss) for the period | 9904 | €14,016 | €17,827 | +€3,811 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,016 | €17,827 | +€3,811 | +27.2% |
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 10 October 2026 via checked.be.