Gardeno: 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.
Gardeno
Largest movements
- Tangible fixed assets -€38,996
down €38,996 (-14.8%), from €262,997 to €224,001
of which Land and buildings: -€24,797
- Receivables within one year +€13,138
up €13,138 (+14.6%), from €89,884 to €103,022
of which Trade receivables: +€12,661
- Intangible fixed assets -€10,125
no longer reported in 2025 (was €10,125)
- Deferred charges and accrued income -€4,629
down €4,629 (-60.0%), from €7,714 to €3,085
- Debts after one year -€25,536
down €25,536 (-9.8%), from €260,040 to €234,504
- Trade debts -€18,316
down €18,316 (-61.9%), from €29,579 to €11,263
- Profit (loss) carried forward +€6,861
up €6,861 (+20.1%), from €34,216 to €41,076
- Tax, wage and social debts -€6,033
down €6,033 (-61.4%), from €9,828 to €3,795
of which Remuneration and social security: -€5,501
- Other debts +€4,947
up €4,947 (+793%), from €624 to €5,571
- Gross operating margin -€7,030
down €7,030 (-9.1%), from €77,127 to €70,097
- Depreciation -€5,354
down €5,354 (-9.8%), from €54,475 to €49,121
- Staff costs -€2,401
down €2,401 (-39.9%), from €6,024 to €3,622
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 | €378,075 | €340,346 | -€37,730 | -10.0% |
| Fixed assets | 21/28 | €274,972 | €225,851 | -€49,121 | -17.9% |
| Intangible fixed assets | 21 | €10,125 | - | -€10,125 | |
| Tangible fixed assets | 22/27 | €262,997 | €224,001 | -€38,996 | -14.8% |
| Land and buildings | 22 | €216,055 | €191,259 | -€24,797 | -11.5% |
| Plant, machinery and equipment | 23 | €7,465 | €4,425 | -€3,041 | -40.7% |
| Furniture and vehicles | 24 | €39,476 | €28,317 | -€11,159 | -28.3% |
| Financial fixed assets | 28 | €1,850 | €1,850 | = | 0.0% |
| Current assets | 29/58 | €103,104 | €114,495 | +€11,391 | +11.0% |
| Amounts receivable within one year | 40/41 | €89,884 | €103,022 | +€13,138 | +14.6% |
| Trade receivables | 40 | €89,508 | €102,169 | +€12,661 | +14.1% |
| Other amounts receivable | 41 | €376 | €852 | +€477 | +127% |
| Cash at bank and in hand | 54/58 | €5,506 | €8,389 | +€2,883 | +52.4% |
| Deferred charges and accrued income | 490/1 | €7,714 | €3,085 | -€4,629 | -60.0% |
| Total equity and liabilities | 10/49 | €378,075 | €340,346 | -€37,730 | -10.0% |
| Equity | 10/15 | €52,816 | €59,676 | +€6,861 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,216 | €41,076 | +€6,861 | +20.1% |
| Amounts payable | 17/49 | €325,260 | €280,669 | -€44,590 | -13.7% |
| Amounts payable after more than one year | 17 | €260,040 | €234,504 | -€25,536 | -9.8% |
| Financial debts | 170/4 | €260,040 | €234,504 | -€25,536 | -9.8% |
| Amounts payable within one year | 42/48 | €64,823 | €46,165 | -€18,658 | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €24,792 | €25,536 | +€744 | +3.0% |
| Trade debts | 44 | €29,579 | €11,263 | -€18,316 | -61.9% |
| Suppliers | 440/4 | €29,579 | €11,263 | -€18,316 | -61.9% |
| Taxes, remuneration and social security | 45 | €9,828 | €3,795 | -€6,033 | -61.4% |
| Taxes | 450/3 | €4,106 | €3,574 | -€532 | -13.0% |
| Remuneration and social security | 454/9 | €5,721 | €221 | -€5,501 | -96.1% |
| Other amounts payable | 47/48 | €624 | €5,571 | +€4,947 | +793% |
| Accrued charges and deferred income | 492/3 | €396 | - | -€396 | |
| Remuneration, social security and pensions | 62 | €6,024 | €3,622 | -€2,401 | -39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,475 | €49,121 | -€5,354 | -9.8% |
| Other operating charges | 640/8 | €433 | €400 | -€33 | -7.7% |
| Gross operating margin | 9900 | €77,127 | €70,097 | -€7,030 | -9.1% |
| Operating profit (loss) | 9901 | €16,195 | €16,954 | +€759 | +4.7% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €8,845 | €8,141 | -€704 | -8.0% |
| Recurring financial charges | 65 | €8,845 | €8,141 | -€704 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €7,380 | €8,814 | +€1,433 | +19.4% |
| Income taxes | 67/77 | €1,669 | €1,953 | +€284 | +17.0% |
| Profit (loss) for the period | 9904 | €5,712 | €6,861 | +€1,149 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,712 | €6,861 | +€1,149 | +20.1% |
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 23 October 2026 via checked.be.