GARDE MANGER: 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.
GARDE MANGER
Largest movements
- Tangible fixed assets -€69,397
down €69,397 (-5.0%), from €1.4m to €1.3m
of which Land and buildings: -€40,384
- Cash +€31,452
up €31,452 (+10.2%), from €308,452 to €339,904
mainly Net result for the year (+€108,196) and Depreciation (+€74,822)
- Profit (loss) carried forward +€108,196
up €108,196 (+22.4%), from €484,049 to €592,245
- Debts after one year -€92,257
down €92,257 (-9.4%), from €976,408 to €884,151
- Other debts -€55,532
down €55,532 (-51.0%), from €108,859 to €53,327
- Trade debts -€29,797
down €29,797 (-56.4%), from €52,822 to €23,025
- Current portion of long-term debt +€24,967
up €24,967 (+54.6%), from €45,707 to €70,673
- Staff costs +€78,863
up €78,863 (+27.6%), from €285,409 to €364,272
- Gross operating margin -€64,444
down €64,444 (-10.0%), from €643,995 to €579,552
- Taxes -€42,511
down €42,511 (-58.9%), from €72,197 to €29,687
- Depreciation +€9,818
up €9,818 (+15.1%), from €65,004 to €74,822
- Financial income -€6,595
down €6,595 (-18.9%), from €34,936 to €28,341
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.
Derived cash bridge
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 | €1,753,574 | €1,716,095 | -€37,479 | -2.1% |
| Fixed assets | 21/28 | €1,389,952 | €1,319,136 | -€70,817 | -5.1% |
| Intangible fixed assets | 21 | €3,867 | €2,447 | -€1,420 | -36.7% |
| Tangible fixed assets | 22/27 | €1,386,085 | €1,316,689 | -€69,397 | -5.0% |
| Land and buildings | 22 | €1,254,195 | €1,213,811 | -€40,384 | -3.2% |
| Plant, machinery and equipment | 23 | €21,758 | €14,322 | -€7,435 | -34.2% |
| Furniture and vehicles | 24 | €110,133 | €88,555 | -€21,577 | -19.6% |
| Current assets | 29/58 | €363,622 | €396,959 | +€33,337 | +9.2% |
| Stocks and contracts in progress | 3 | €22,715 | €23,510 | +€795 | +3.5% |
| Stocks | 30/36 | €22,715 | €23,510 | +€795 | +3.5% |
| Amounts receivable within one year | 40/41 | €28,863 | €31,702 | +€2,839 | +9.8% |
| Trade receivables | 40 | €18,097 | €1,389 | -€16,708 | -92.3% |
| Other amounts receivable | 41 | €10,766 | €30,313 | +€19,547 | +182% |
| Cash at bank and in hand | 54/58 | €308,452 | €339,904 | +€31,452 | +10.2% |
| Deferred charges and accrued income | 490/1 | €3,591 | €1,843 | -€1,749 | -48.7% |
| Total equity and liabilities | 10/49 | €1,753,574 | €1,716,095 | -€37,479 | -2.1% |
| Equity | 10/15 | €509,049 | €617,245 | +€108,196 | +21.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €484,049 | €592,245 | +€108,196 | +22.4% |
| Amounts payable | 17/49 | €1,244,525 | €1,098,850 | -€145,675 | -11.7% |
| Amounts payable after more than one year | 17 | €976,408 | €884,151 | -€92,257 | -9.4% |
| Financial debts | 170/4 | €976,408 | €884,151 | -€92,257 | -9.4% |
| Amounts payable within one year | 42/48 | €268,118 | €214,699 | -€53,418 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €45,707 | €70,673 | +€24,967 | +54.6% |
| Trade debts | 44 | €52,822 | €23,025 | -€29,797 | -56.4% |
| Suppliers | 440/4 | €52,822 | €23,025 | -€29,797 | -56.4% |
| Taxes, remuneration and social security | 45 | €60,730 | €67,674 | +€6,944 | +11.4% |
| Taxes | 450/3 | €41,521 | €32,414 | -€9,107 | -21.9% |
| Remuneration and social security | 454/9 | €19,209 | €35,260 | +€16,051 | +83.6% |
| Other amounts payable | 47/48 | €108,859 | €53,327 | -€55,532 | -51.0% |
| Remuneration, social security and pensions | 62 | €285,409 | €364,272 | +€78,863 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,004 | €74,822 | +€9,818 | +15.1% |
| Other operating charges | 640/8 | €4,172 | €4,939 | +€767 | +18.4% |
| Gross operating margin | 9900 | €643,995 | €579,552 | -€64,444 | -10.0% |
| Operating profit (loss) | 9901 | €289,410 | €135,518 | -€153,892 | -53.2% |
| Financial income | 75/76B | €34,936 | €28,341 | -€6,595 | -18.9% |
| Recurring financial income | 75 | €34,936 | €28,341 | -€6,595 | -18.9% |
| Financial charges | 65/66B | €23,185 | €25,976 | +€2,791 | +12.0% |
| Recurring financial charges | 65 | €23,185 | €25,976 | +€2,791 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €301,162 | €137,883 | -€163,279 | -54.2% |
| Income taxes | 67/77 | €72,197 | €29,687 | -€42,511 | -58.9% |
| Profit (loss) for the period | 9904 | €228,964 | €108,196 | -€120,768 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €228,964 | €108,196 | -€120,768 | -52.7% |
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 15 October 2026 via checked.be.