GARANTIR: 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.
GARANTIR
Largest movements
- Tangible fixed assets +€81,799
up €81,799 (+47.4%), from €172,582 to €254,381
- Cash -€74,661
down €74,661 (-20.1%), from €372,113 to €297,452
- Other debts +€132,057
up €132,057 (+184.0%), from €71,784 to €203,841
- Profit (loss) carried forward -€113,675
down €113,675 (-281.6%), from -€40,373 to -€154,048
- Trade debts -€11,244
down €11,244 (-83.9%), from €13,409 to €2,165
- Depreciation +€45,934
up €45,934 (+125.4%), from €36,629 to €82,563
- Gross operating margin -€16,569
down €16,569 (-95.1%), from €17,418 to €849
- Other operating charges +€840
new in 2025: €840
- Financial charges -€342
down €342 (-31.8%), from €1,075 to €733
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €544,920 | €552,058 | +€7,138 | +1.3% |
| Fixed assets | 21/28 | €172,807 | €254,606 | +€81,799 | +47.3% |
| Tangible fixed assets | 22/27 | €172,582 | €254,381 | +€81,799 | +47.4% |
| Furniture and vehicles | 24 | €172,582 | €254,381 | +€81,799 | +47.4% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €372,113 | €297,452 | -€74,661 | -20.1% |
| Cash at bank and in hand | 54/58 | €372,113 | €297,452 | -€74,661 | -20.1% |
| Total equity and liabilities | 10/49 | €544,920 | €552,058 | +€7,138 | +1.3% |
| Equity | 10/15 | €459,727 | €346,052 | -€113,675 | -24.7% |
| Contributions | 10/11 | €500,100 | €500,100 | = | 0.0% |
| Capital | 10 | €500,100 | €500,100 | = | 0.0% |
| Issued capital | 100 | €500,100 | €500,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,373 | -€154,048 | -€113,675 | -281.6% |
| Amounts payable | 17/49 | €85,193 | €206,006 | +€120,813 | +141.8% |
| Amounts payable within one year | 42/48 | €85,193 | €206,006 | +€120,813 | +141.8% |
| Trade debts | 44 | €13,409 | €2,165 | -€11,244 | -83.9% |
| Suppliers | 440/4 | €13,409 | €2,165 | -€11,244 | -83.9% |
| Other amounts payable | 47/48 | €71,784 | €203,841 | +€132,057 | +184.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,629 | €82,563 | +€45,934 | +125.4% |
| Other operating charges | 640/8 | - | €840 | +€840 | |
| Gross operating margin | 9900 | €17,418 | €849 | -€16,569 | -95.1% |
| Operating profit (loss) | 9901 | -€19,211 | -€82,553 | -€63,343 | -329.7% |
| Financial charges | 65/66B | €1,075 | €733 | -€342 | -31.8% |
| Recurring financial charges | 65 | €1,075 | €733 | -€342 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€20,285 | -€83,286 | -€63,001 | -310.6% |
| Profit (loss) for the period | 9904 | -€20,285 | -€83,286 | -€63,001 | -310.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,285 | -€83,286 | -€63,001 | -310.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.