Gardeco Objects: 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.
Gardeco Objects
Largest movements
- Cash +€534,525
up €534,525 (+124.9%), from €427,820 to €962,345
mainly Net result for the year (+€591,283) and Advances received (+€311,078)
- Current investments +€380,214
up €380,214 (+126.5%), from €300,659 to €680,873
- Stocks and contracts -€152,824
down €152,824 (-16.7%), from €913,551 to €760,727
- Receivables within one year -€81,607
down €81,607 (-33.5%), from €243,745 to €162,138
of which Other amounts receivable: -€49,887
- Tangible fixed assets -€43,937
down €43,937 (-21.4%), from €205,574 to €161,637
of which Furniture and vehicles: -€38,958
- Reserves +€533,931
up €533,931 (+37.0%), from €1.4m to €2.0m
of which Distributable reserves: +€436,438
- Advances received +€311,078
up €311,078 (+312.5%), from €99,553 to €410,630
- Provisions -€91,581
down €91,581 (-100.0%), from €91,581 to €0
- Tax, wage and social debts -€53,707
down €53,707 (-30.4%), from €176,807 to €123,100
of which Remuneration and social security: -€45,278
- Trade debts -€50,407
down €50,407 (-24.0%), from €209,991 to €159,584
- Gross operating margin -€131,197
down €131,197 (-8.3%), from €1.6m to €1.4m
- Staff costs -€46,130
down €46,130 (-8.0%), from €574,497 to €528,367
- Taxes -€37,861
down €37,861 (-12.5%), from €302,015 to €264,155
- Financial charges +€28,161
up €28,161 (+381.2%), from €7,387 to €35,548
- Depreciation +€26,622
up €26,622 (+98.4%), from €27,047 to €53,669
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 | €2,157,397 | €2,776,940 | +€619,543 | +28.7% |
| Fixed assets | 21/28 | €216,155 | €170,053 | -€46,102 | -21.3% |
| Intangible fixed assets | 21 | €10,582 | €8,417 | -€2,165 | -20.5% |
| Tangible fixed assets | 22/27 | €205,574 | €161,637 | -€43,937 | -21.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €49,744 | €44,765 | -€4,979 | -10.0% |
| Furniture and vehicles | 24 | €155,829 | €116,871 | -€38,958 | -25.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €1,941,242 | €2,606,887 | +€665,645 | +34.3% |
| Stocks and contracts in progress | 3 | €913,551 | €760,727 | -€152,824 | -16.7% |
| Stocks | 30/36 | €913,551 | €760,727 | -€152,824 | -16.7% |
| Amounts receivable within one year | 40/41 | €243,745 | €162,138 | -€81,607 | -33.5% |
| Trade receivables | 40 | €187,261 | €155,541 | -€31,720 | -16.9% |
| Other amounts receivable | 41 | €56,484 | €6,597 | -€49,887 | -88.3% |
| Current investments | 50/53 | €300,659 | €680,873 | +€380,214 | +126.5% |
| Cash at bank and in hand | 54/58 | €427,820 | €962,345 | +€534,525 | +124.9% |
| Deferred charges and accrued income | 490/1 | €55,467 | €40,804 | -€14,663 | -26.4% |
| Total equity and liabilities | 10/49 | €2,157,397 | €2,776,940 | +€619,543 | +28.7% |
| Equity | 10/15 | €1,446,865 | €1,980,796 | +€533,931 | +36.9% |
| Contributions | 10/11 | €4,157 | €4,157 | = | 0.0% |
| Reserves | 13 | €1,442,708 | €1,976,639 | +€533,931 | +37.0% |
| Tax-exempt reserves | 132 | €476,033 | €573,527 | +€97,493 | +20.5% |
| Distributable reserves | 133 | €966,675 | €1,403,113 | +€436,438 | +45.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €91,581 | €0 | -€91,581 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €91,581 | €0 | -€91,581 | -100.0% |
| Pensions and similar obligations | 160 | €91,581 | €0 | -€91,581 | -100.0% |
| Amounts payable | 17/49 | €618,951 | €796,145 | +€177,193 | +28.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €593,668 | €771,703 | +€178,035 | +30.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €209,991 | €159,584 | -€50,407 | -24.0% |
| Suppliers | 440/4 | €209,991 | €159,584 | -€50,407 | -24.0% |
| Advances received on contracts in progress | 46 | €99,553 | €410,630 | +€311,078 | +312.5% |
| Taxes, remuneration and social security | 45 | €176,807 | €123,100 | -€53,707 | -30.4% |
| Taxes | 450/3 | €84,674 | €76,245 | -€8,429 | -10.0% |
| Remuneration and social security | 454/9 | €92,133 | €46,855 | -€45,278 | -49.1% |
| Other amounts payable | 47/48 | €107,317 | €78,387 | -€28,929 | -27.0% |
| Accrued charges and deferred income | 492/3 | €25,283 | €24,442 | -€841 | -3.3% |
| Non-recurring operating income | 76A | - | €91,581 | +€91,581 | |
| Remuneration, social security and pensions | 62 | €574,497 | €528,367 | -€46,130 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,047 | €53,669 | +€26,622 | +98.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,299 | €232 | +€5,531 | |
| Other operating charges | 640/8 | €8,588 | €5,026 | -€3,563 | -41.5% |
| Gross operating margin | 9900 | €1,581,096 | €1,449,898 | -€131,197 | -8.3% |
| Operating profit (loss) | 9901 | €976,262 | €862,604 | -€113,658 | -11.6% |
| Financial income | 75/76B | €30,143 | €28,382 | -€1,761 | -5.8% |
| Recurring financial income | 75 | €30,143 | €28,382 | -€1,761 | -5.8% |
| Financial charges | 65/66B | €7,387 | €35,548 | +€28,161 | +381.2% |
| Recurring financial charges | 65 | €7,387 | €35,548 | +€28,161 | +381.2% |
| Profit (loss) for the period before taxes | 9903 | €999,018 | €855,438 | -€143,580 | -14.4% |
| Income taxes | 67/77 | €302,015 | €264,155 | -€37,861 | -12.5% |
| Profit (loss) for the period | 9904 | €697,003 | €591,283 | -€105,720 | -15.2% |
| Transfer from tax-exempt reserves | 789 | €51,744 | €70,907 | +€19,162 | +37.0% |
| Transfer to tax-exempt reserves | 689 | €315,750 | €168,400 | -€147,350 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €432,997 | €493,790 | +€60,793 | +14.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.