GARATEC: 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.
GARATEC
Largest movements
- Receivables within one year -€56,926
down €56,926 (-41.9%), from €136,014 to €79,088
of which Trade receivables: -€59,939
- Cash -€15,688
down €15,688 (-8.3%), from €188,026 to €172,339
mainly Trade debts (-€85,234) and Tax, wage and social debts (-€16,223)
- Tangible fixed assets -€9,712
down €9,712 (-16.0%), from €60,624 to €50,912
of which Land and buildings: -€5,704
- Stocks and contracts +€5,419
up €5,419 (+9.3%), from €58,136 to €63,555
- Trade debts -€85,234
down €85,234 (-84.3%), from €101,145 to €15,911
- Reserves +€17,872
up €17,872 (+6.2%), from €289,973 to €307,845
of which Distributable reserves: +€17,872
- Tax, wage and social debts -€16,223
down €16,223 (-50.5%), from €32,114 to €15,891
- Other debts +€6,161
up €6,161 (+376.9%), from €1,635 to €7,796
- Gross operating margin -€6,990
down €6,990 (-17.2%), from €40,574 to €33,584
- Taxes -€2,759
down €2,759 (-28.3%), from €9,746 to €6,987
- Depreciation -€869
down €869 (-8.2%), from €10,581 to €9,712
- Financial income +€754
up €754 (+52.6%), from €1,434 to €2,188
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 | €445,882 | €368,459 | -€77,424 | -17.4% |
| Fixed assets | 21/28 | €60,624 | €50,912 | -€9,712 | -16.0% |
| Tangible fixed assets | 22/27 | €60,624 | €50,912 | -€9,712 | -16.0% |
| Land and buildings | 22 | €56,615 | €50,912 | -€5,704 | -10.1% |
| Furniture and vehicles | 24 | €4,008 | - | -€4,008 | |
| Current assets | 29/58 | €385,259 | €317,547 | -€67,712 | -17.6% |
| Stocks and contracts in progress | 3 | €58,136 | €63,555 | +€5,419 | +9.3% |
| Stocks | 30/36 | €58,136 | €63,555 | +€5,419 | +9.3% |
| Amounts receivable within one year | 40/41 | €136,014 | €79,088 | -€56,926 | -41.9% |
| Trade receivables | 40 | €135,760 | €75,822 | -€59,939 | -44.2% |
| Other amounts receivable | 41 | €254 | €3,266 | +€3,013 | +1186.8% |
| Cash at bank and in hand | 54/58 | €188,026 | €172,339 | -€15,688 | -8.3% |
| Deferred charges and accrued income | 490/1 | €3,082 | €2,566 | -€517 | -16.8% |
| Total equity and liabilities | 10/49 | €445,882 | €368,459 | -€77,424 | -17.4% |
| Equity | 10/15 | €310,964 | €328,836 | +€17,872 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289,973 | €307,845 | +€17,872 | +6.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €288,114 | €305,986 | +€17,872 | +6.2% |
| Profit (loss) carried forward | 14 | €2,391 | €2,391 | = | 0.0% |
| Amounts payable | 17/49 | €134,918 | €39,623 | -€95,296 | -70.6% |
| Amounts payable within one year | 42/48 | €134,894 | €39,598 | -€95,296 | -70.6% |
| Trade debts | 44 | €101,145 | €15,911 | -€85,234 | -84.3% |
| Suppliers | 440/4 | €101,145 | €15,911 | -€85,234 | -84.3% |
| Taxes, remuneration and social security | 45 | €32,114 | €15,891 | -€16,223 | -50.5% |
| Taxes | 450/3 | €32,114 | €15,891 | -€16,223 | -50.5% |
| Other amounts payable | 47/48 | €1,635 | €7,796 | +€6,161 | +376.9% |
| Accrued charges and deferred income | 492/3 | €25 | €25 | +€0 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,581 | €9,712 | -€869 | -8.2% |
| Other operating charges | 640/8 | €1,085 | €1,152 | +€67 | +6.2% |
| Gross operating margin | 9900 | €40,574 | €33,584 | -€6,990 | -17.2% |
| Operating profit (loss) | 9901 | €28,909 | €22,720 | -€6,188 | -21.4% |
| Financial income | 75/76B | €1,434 | €2,188 | +€754 | +52.6% |
| Recurring financial income | 75 | €1,434 | €2,188 | +€754 | +52.6% |
| Financial charges | 65/66B | €45 | €49 | +€4 | +9.3% |
| Recurring financial charges | 65 | €45 | €49 | +€4 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €30,298 | €24,859 | -€5,438 | -17.9% |
| Income taxes | 67/77 | €9,746 | €6,987 | -€2,759 | -28.3% |
| Profit (loss) for the period | 9904 | €20,552 | €17,872 | -€2,679 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,552 | €17,872 | -€2,679 | -13.0% |
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 4 October 2026 via checked.be.