GARBO: 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.
GARBO
Largest movements
- Receivables within one year -€51,399
down €51,399 (-43.6%), from €117,863 to €66,464
of which Trade receivables: -€50,098
- Cash -€32,633
down €32,633 (-33.2%), from €98,144 to €65,511
mainly Advances received (-€58,462) and Other debts (-€17,701)
- Advances received -€58,462
down €58,462 (-100%), from €58,462 to €0
- Other debts -€17,701
down €17,701 (-27.3%), from €64,938 to €47,237
- Profit (loss) carried forward -€14,762
down €14,762 (-36.5%), from -€40,414 to -€55,176
- Tax, wage and social debts +€6,455
up €6,455 (+199%), from €3,252 to €9,707
of which Taxes: +€7,705
- Other operating charges +€7,241
up €7,241 (+847%), from €855 to €8,096
- Depreciation -€1,277
down €1,277 (-100%), from €1,277 to €0
- Gross operating margin -€925
down €925 (-16.4%), from -€5,649 to -€6,574
- Financial charges -€192
down €192 (-55.9%), from €343 to €151
- Financial income +€161
up €161 (+149%), from €108 to €269
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €226,813 | €142,782 | -€84,032 | -37.0% |
| Fixed assets | 21/28 | €10,806 | €10,806 | = | 0.0% |
| Tangible fixed assets | 22/27 | €10,806 | €10,806 | = | 0.0% |
| Land and buildings | 22 | €10,806 | €10,806 | = | 0.0% |
| Current assets | 29/58 | €216,007 | €131,976 | -€84,032 | -38.9% |
| Amounts receivable within one year | 40/41 | €117,863 | €66,464 | -€51,399 | -43.6% |
| Trade receivables | 40 | €116,563 | €66,464 | -€50,098 | -43.0% |
| Other amounts receivable | 41 | €1,301 | €0 | -€1,301 | -100% |
| Cash at bank and in hand | 54/58 | €98,144 | €65,511 | -€32,633 | -33.2% |
| Total equity and liabilities | 10/49 | €226,813 | €142,782 | -€84,032 | -37.0% |
| Equity | 10/15 | €89,795 | €75,033 | -€14,762 | -16.4% |
| Contributions | 10/11 | €108,600 | €108,600 | = | 0.0% |
| Reserves | 13 | €21,609 | €21,609 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €21,609 | €21,609 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,414 | -€55,176 | -€14,762 | -36.5% |
| Amounts payable | 17/49 | €137,019 | €67,749 | -€69,270 | -50.6% |
| Amounts payable within one year | 42/48 | €137,019 | €67,749 | -€69,270 | -50.6% |
| Trade debts | 44 | €10,367 | €10,805 | +€437 | +4.2% |
| Suppliers | 440/4 | €10,367 | €10,805 | +€437 | +4.2% |
| Advances received on contracts in progress | 46 | €58,462 | €0 | -€58,462 | -100% |
| Taxes, remuneration and social security | 45 | €3,252 | €9,707 | +€6,455 | +199% |
| Taxes | 450/3 | €2,002 | €9,707 | +€7,705 | +385% |
| Remuneration and social security | 454/9 | €1,250 | €0 | -€1,250 | -100% |
| Other amounts payable | 47/48 | €64,938 | €47,237 | -€17,701 | -27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,277 | €0 | -€1,277 | -100% |
| Other operating charges | 640/8 | €855 | €8,096 | +€7,241 | +847% |
| Gross operating margin | 9900 | -€5,649 | -€6,574 | -€925 | -16.4% |
| Operating profit (loss) | 9901 | -€7,781 | -€14,670 | -€6,889 | -88.5% |
| Financial income | 75/76B | €108 | €269 | +€161 | +149% |
| Recurring financial income | 75 | €108 | €269 | +€161 | +149% |
| Financial charges | 65/66B | €343 | €151 | -€192 | -55.9% |
| Recurring financial charges | 65 | €343 | €151 | -€192 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,016 | -€14,552 | -€6,536 | -81.5% |
| Income taxes | 67/77 | €202 | €210 | +€8 | +4.0% |
| Profit (loss) for the period | 9904 | -€8,218 | -€14,762 | -€6,544 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,218 | -€14,762 | -€6,544 | -79.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.