Garbat: 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.
Garbat
Largest movements
- Current investments -€20,000
down €20,000 (-9.1%), from €220,000 to €200,000
- Cash +€11,626
up €11,626 (+213.7%), from €5,440 to €17,066
mainly Current investments (+€20,000) and Trade debts (+€4,140)
- Tangible fixed assets +€5,934
up €5,934 (+19.2%), from €30,841 to €36,775
- Profit (loss) carried forward -€5,551
down €5,551 (-11.0%), from -€50,298 to -€55,850
- Trade debts +€4,140
up €4,140 (+1085.7%), from €381 to €4,521
- Gross operating margin -€4,452
down €4,452 (-1313.7%), from -€339 to -€4,791
- Financial income -€3,936
down €3,936 (-63.9%), from €6,163 to €2,226
- Depreciation +€208
up €208 (+15.5%), from €1,341 to €1,549
- Financial charges -€87
down €87 (-65.9%), from €132 to €45
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 | €309,529 | €308,117 | -€1,412 | -0.5% |
| Fixed assets | 21/28 | €30,841 | €36,775 | +€5,934 | +19.2% |
| Tangible fixed assets | 22/27 | €30,841 | €36,775 | +€5,934 | +19.2% |
| Land and buildings | 22 | €30,841 | €36,775 | +€5,934 | +19.2% |
| Current assets | 29/58 | €278,688 | €271,342 | -€7,345 | -2.6% |
| Amounts receivable within one year | 40/41 | €53,248 | €54,277 | +€1,029 | +1.9% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €53,248 | €54,277 | +€1,029 | +1.9% |
| Current investments | 50/53 | €220,000 | €200,000 | -€20,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €5,440 | €17,066 | +€11,626 | +213.7% |
| Total equity and liabilities | 10/49 | €309,529 | €308,117 | -€1,412 | -0.5% |
| Equity | 10/15 | €309,147 | €303,596 | -€5,551 | -1.8% |
| Contributions | 10/11 | €359,446 | €359,446 | = | 0.0% |
| Capital | 10 | €359,446 | €359,446 | = | 0.0% |
| Issued capital | 100 | €359,446 | €359,446 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,298 | -€55,850 | -€5,551 | -11.0% |
| Amounts payable | 17/49 | €381 | €4,521 | +€4,140 | +1085.7% |
| Amounts payable within one year | 42/48 | €381 | €4,521 | +€4,140 | +1085.7% |
| Trade debts | 44 | €381 | €4,521 | +€4,140 | +1085.7% |
| Suppliers | 440/4 | €381 | €4,521 | +€4,140 | +1085.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,341 | €1,549 | +€208 | +15.5% |
| Other operating charges | 640/8 | €1,351 | €1,393 | +€42 | +3.1% |
| Gross operating margin | 9900 | -€339 | -€4,791 | -€4,452 | -1313.7% |
| Operating profit (loss) | 9901 | -€3,031 | -€7,732 | -€4,702 | -155.1% |
| Financial income | 75/76B | €6,163 | €2,226 | -€3,936 | -63.9% |
| Recurring financial income | 75 | €6,163 | €2,226 | -€3,936 | -63.9% |
| Financial charges | 65/66B | €132 | €45 | -€87 | -65.9% |
| Recurring financial charges | 65 | €132 | €45 | -€87 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €3,000 | -€5,551 | -€8,551 | |
| Profit (loss) for the period | 9904 | €3,000 | -€5,551 | -€8,551 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,000 | -€5,551 | -€8,551 |
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 30 September 2026 via checked.be.