GARDEN ANGELS: what changed
GARDEN ANGELS
Largest movements
- Cash +€61,136
up €61,136 (+1,366%), from €4,476 to €65,612
mainly Receivables within one year (+€58,855) and Depreciation (+€21,695)
- Receivables within one year -€58,855
down €58,855 (-49.8%), from €118,235 to €59,380
of which Trade receivables: -€52,959
- Stocks and contracts +€46,546
up €46,546 (+680%), from €6,842 to €53,388
of which Contracts in progress: +€41,730
- Tangible fixed assets -€19,427
down €19,427 (-31.2%), from €62,283 to €42,856
of which Plant, machinery and equipment: -€10,103
- Deferred charges and accrued income -€4,279
no longer reported in 2025 (was €4,279)
- Trade debts +€20,292
up €20,292 (+64.8%), from €31,325 to €51,617
- Debts after one year -€9,627
down €9,627 (-62.9%), from €15,311 to €5,684
- Short-term financial debts +€9,627
new in 2025: €9,627
- Current portion of long-term debt -€9,482
no longer reported in 2025 (was €9,482)
- Tax, wage and social debts +€8,908
up €8,908 (+47.8%), from €18,637 to €27,545
of which Remuneration and social security: +€9,124
- Staff costs +€18,501
up €18,501 (+12.7%), from €145,581 to €164,082
- Gross operating margin +€7,940
up €7,940 (+4.2%), from €189,818 to €197,758
- Taxes -€3,026
down €3,026 (-39.6%), from €7,635 to €4,609
- Financial income +€2,905
up €2,905 (+6,096%), from €48 to €2,953
- Depreciation +€2,329
up €2,329 (+12.0%), from €19,365 to €21,695
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €196,250 | €221,372 | +€25,121 | +12.8% |
| Fixed assets | 21/28 | €62,418 | €42,991 | -€19,427 | -31.1% |
| Tangible fixed assets | 22/27 | €62,283 | €42,856 | -€19,427 | -31.2% |
| Land and buildings | 22 | €8,776 | €7,689 | -€1,087 | -12.4% |
| Plant, machinery and equipment | 23 | €29,824 | €19,721 | -€10,103 | -33.9% |
| Furniture and vehicles | 24 | €23,683 | €15,446 | -€8,237 | -34.8% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €133,832 | €178,381 | +€44,549 | +33.3% |
| Stocks and contracts in progress | 3 | €6,842 | €53,388 | +€46,546 | +680% |
| Stocks | 30/36 | €5,748 | €10,564 | +€4,817 | +83.8% |
| Contracts in progress | 37 | €1,094 | €42,824 | +€41,730 | +3,814% |
| Amounts receivable within one year | 40/41 | €118,235 | €59,380 | -€58,855 | -49.8% |
| Trade receivables | 40 | €112,340 | €59,380 | -€52,959 | -47.1% |
| Other amounts receivable | 41 | €5,895 | - | -€5,895 | |
| Cash at bank and in hand | 54/58 | €4,476 | €65,612 | +€61,136 | +1,366% |
| Deferred charges and accrued income | 490/1 | €4,279 | - | -€4,279 | |
| Total equity and liabilities | 10/49 | €196,250 | €221,372 | +€25,121 | +12.8% |
| Equity | 10/15 | €114,329 | €121,700 | +€7,371 | +6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,349 | €98,349 | +€7,000 | +7.7% |
| Distributable reserves | 133 | €91,349 | €98,349 | +€7,000 | +7.7% |
| Profit (loss) carried forward | 14 | €4,380 | €4,751 | +€371 | +8.5% |
| Amounts payable | 17/49 | €81,922 | €99,672 | +€17,751 | +21.7% |
| Amounts payable after more than one year | 17 | €15,311 | €5,684 | -€9,627 | -62.9% |
| Financial debts | 170/4 | €15,311 | €5,684 | -€9,627 | -62.9% |
| Amounts payable within one year | 42/48 | €64,659 | €93,988 | +€29,329 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €9,482 | - | -€9,482 | |
| Financial debts | 43 | - | €9,627 | +€9,627 | |
| Credit institutions | 430/8 | - | €9,627 | +€9,627 | |
| Trade debts | 44 | €31,325 | €51,617 | +€20,292 | +64.8% |
| Suppliers | 440/4 | €31,325 | €51,617 | +€20,292 | +64.8% |
| Taxes, remuneration and social security | 45 | €18,637 | €27,545 | +€8,908 | +47.8% |
| Taxes | 450/3 | €4,708 | €4,491 | -€216 | -4.6% |
| Remuneration and social security | 454/9 | €13,930 | €23,054 | +€9,124 | +65.5% |
| Other amounts payable | 47/48 | €5,215 | €5,199 | -€16 | -0.3% |
| Accrued charges and deferred income | 492/3 | €1,952 | - | -€1,952 | |
| Remuneration, social security and pensions | 62 | €145,581 | €164,082 | +€18,501 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,365 | €21,695 | +€2,329 | +12.0% |
| Other operating charges | 640/8 | €1,329 | €1,678 | +€350 | +26.3% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €504 | +€504 | |
| Gross operating margin | 9900 | €189,818 | €197,758 | +€7,940 | +4.2% |
| Operating profit (loss) | 9901 | €23,543 | €9,800 | -€13,744 | -58.4% |
| Financial income | 75/76B | €48 | €2,953 | +€2,905 | +6,096% |
| Recurring financial income | 75 | €48 | €2,953 | +€2,905 | +6,096% |
| Financial charges | 65/66B | €948 | €773 | -€175 | -18.4% |
| Recurring financial charges | 65 | €948 | €773 | -€175 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €22,643 | €11,979 | -€10,664 | -47.1% |
| Income taxes | 67/77 | €7,635 | €4,609 | -€3,026 | -39.6% |
| Profit (loss) for the period | 9904 | €15,008 | €7,371 | -€7,638 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,008 | €7,371 | -€7,638 | -50.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.