GARDENODE: 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.
What changed
GARDENODE
NACE 46.150, Agents in the wholesale of furniture, household goods and hardware
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€186,205
2024 · -€325,626+€511,831
Equity
€1.6m
2024 · €1.4m+€186,205
Cash
€661,864
2024 · €245,713+€416,151
Balance sheet total
€10.9m
2024 · €9.7m+€1.2m
Largest movements
Assets
- Receivables within one year +€1.8m
up €1.8m (+54.4%), from €3.4m to €5.2m
of which Trade receivables: +€1.9m
- Stocks and contracts -€1.1m
down €1.1m (-20.7%), from €5.4m to €4.3m
- Cash +€416,151
up €416,151 (+169%), from €245,713 to €661,864
mainly Stocks and contracts (+€1.1m) and Trade debts (+€867,157)
Equity and liabilities
- Trade debts +€867,157
up €867,157 (+56.4%), from €1.5m to €2.4m
- Other debts +€356,580
up €356,580 (+12.4%), from €2.9m to €3.2m
- Profit (loss) carried forward +€186,205
up €186,205 (+17.0%), from €1.1m to €1.3m
- Current portion of long-term debt -€171,540
down €171,540 (-59.8%), from €286,872 to €115,332
Income statement
- Turnover -€12.9m
no longer reported in 2025 (was €12.9m)
- Goods and materials -€8.7m
no longer reported in 2025 (was €8.7m)
of which Purchases: -€10.5m
- Services and other goods -€3.8m
no longer reported in 2025 (was €3.8m)
- Gross operating margin +€629,702
new in 2025: €629,702
- Financial income +€150,301
up €150,301 (+176%), from €85,422 to €235,722
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.
Result 2024
-€325,626
Turnover
-€12.9m
Other operating income
-€94,483
Goods and materials
+€8.7m
Services and other goods
+€3.8m
Staff costs
+€103,851
Depreciation
+€22,948
Write-downs
+€40,063
Other operating charges
-€8,171
Other operating items
+€629,702
Financial income
+€150,301
Financial charges
+€89,826
Taxes
-€403
Result 2025
€186,205
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€690,374
Investment
-€102,683
Financing
-€171,540
Cash 2024
€245,713
From operations (derived)
+€690,374
Net result for the year
+€186,205
Depreciation
+€80,905
Stocks and contracts
+€1.1m
Receivables within one year
-€1.8m
Deferred charges and accrued income
-€49,929
Trade debts
+€867,157
Tax, wage and social debts
-€17,819
Other debts
+€356,580
Investment (derived)
-€102,683
Investment in fixed assets (net)
-€102,683
Financing
-€171,540
Current portion of long-term debt
-€171,540
Cash 2025
€661,864
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,684,558 | €10,905,141 | +€1.2m | +12.6% |
| Fixed assets | 21/28 | €551,871 | €573,648 | +€21,777 | +3.9% |
| Intangible fixed assets | 21 | €129,918 | €161,902 | +€31,985 | +24.6% |
| Tangible fixed assets | 22/27 | €342,253 | €332,046 | -€10,207 | -3.0% |
| Plant, machinery and equipment | 23 | €211,296 | €182,991 | -€28,306 | -13.4% |
| Furniture and vehicles | 24 | €31,301 | €56,014 | +€24,713 | +79.0% |
| Other tangible fixed assets | 26 | €99,657 | €93,042 | -€6,615 | -6.6% |
| Financial fixed assets | 28 | €79,700 | €79,700 | = | 0.0% |
| Other financial fixed assets | 284/8 | €79,700 | - | -€79,700 | |
| Amounts receivable and cash guarantees | 285/8 | €79,700 | - | -€79,700 | |
| Current assets | 29/58 | €9,132,687 | €10,331,493 | +€1.2m | +13.1% |
| Stocks and contracts in progress | 3 | €5,395,024 | €4,280,218 | -€1.1m | -20.7% |
| Stocks | 30/36 | €5,395,024 | €4,280,218 | -€1.1m | -20.7% |
| Goods purchased for resale | 34 | €5,395,024 | - | -€5.4m | |
| Amounts receivable within one year | 40/41 | €3,394,754 | €5,242,286 | +€1.8m | +54.4% |
| Trade receivables | 40 | €3,150,408 | €5,050,313 | +€1.9m | +60.3% |
| Other amounts receivable | 41 | €244,347 | €191,974 | -€52,373 | -21.4% |
| Cash at bank and in hand | 54/58 | €245,713 | €661,864 | +€416,151 | +169% |
| Deferred charges and accrued income | 490/1 | €97,196 | €147,125 | +€49,929 | +51.4% |
| Total equity and liabilities | 10/49 | €9,684,558 | €10,905,141 | +€1.2m | +12.6% |
| Equity | 10/15 | €1,398,067 | €1,584,272 | +€186,205 | +13.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,098,067 | €1,284,272 | +€186,205 | +17.0% |
| Amounts payable | 17/49 | €8,286,491 | €9,320,869 | +€1.0m | +12.5% |
| Amounts payable after more than one year | 17 | €3,468,494 | €3,468,494 | = | 0.0% |
| Financial debts | 170/4 | €3,468,494 | €3,468,494 | = | 0.0% |
| Credit institutions | 173 | €10,494 | - | -€10,494 | |
| Other loans | 174 | €3,458,000 | - | -€3.5m | |
| Amounts payable within one year | 42/48 | €4,817,114 | €5,851,492 | +€1.0m | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €286,872 | €115,332 | -€171,540 | -59.8% |
| Trade debts | 44 | €1,538,480 | €2,405,638 | +€867,157 | +56.4% |
| Suppliers | 440/4 | €1,538,480 | €2,405,638 | +€867,157 | +56.4% |
| Taxes, remuneration and social security | 45 | €117,361 | €99,542 | -€17,819 | -15.2% |
| Taxes | 450/3 | €60,306 | €56,541 | -€3,765 | -6.2% |
| Remuneration and social security | 454/9 | €57,055 | €43,001 | -€14,054 | -24.6% |
| Other amounts payable | 47/48 | €2,874,401 | €3,230,981 | +€356,580 | +12.4% |
| Accrued charges and deferred income | 492/3 | €883 | €883 | = | 0.0% |
| Operating income | 70/76A | €12,996,890 | - | -€13.0m | |
| Turnover | 70 | €12,902,407 | - | -€12.9m | |
| Other operating income | 74 | €94,483 | - | -€94,483 | |
| Operating charges | 60/66A | €13,031,568 | - | -€13.0m | |
| Goods for resale, raw materials and consumables | 60 | €8,711,185 | - | -€8.7m | |
| Purchases | 600/8 | €10,497,542 | - | -€10.5m | |
| Change in stocks: decrease (increase) | 609 | -€1,786,356 | - | +€1.8m | |
| Services and other goods | 61 | €3,769,418 | - | -€3.8m | |
| Remuneration, social security and pensions | 62 | €386,687 | €282,836 | -€103,851 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,854 | €80,905 | -€22,948 | -22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €40,063 | - | -€40,063 | |
| Other operating charges | 640/8 | €20,361 | €28,532 | +€8,171 | +40.1% |
| Gross operating margin | 9900 | - | €629,702 | +€629,702 | |
| Operating profit (loss) | 9901 | -€34,678 | €237,428 | +€272,106 | |
| Financial income | 75/76B | €85,422 | €235,722 | +€150,301 | +176% |
| Recurring financial income | 75 | €85,422 | €235,722 | +€150,301 | +176% |
| Income from current assets | 751 | €1,292 | - | -€1,292 | |
| Other financial income | 752/9 | €84,129 | - | -€84,129 | |
| Financial charges | 65/66B | €376,369 | €286,543 | -€89,826 | -23.9% |
| Recurring financial charges | 65 | €376,369 | €286,543 | -€89,826 | -23.9% |
| Debt charges | 650 | €330,585 | - | -€330,585 | |
| Other financial charges | 652/9 | €45,784 | - | -€45,784 | |
| Profit (loss) for the period before taxes | 9903 | -€325,626 | €186,608 | +€512,234 | |
| Income taxes | 67/77 | €0 | €403 | +€403 | |
| Taxes | 670/3 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€325,626 | €186,205 | +€511,831 | |
| Profit (loss) for the period to be appropriated | 9905 | -€325,626 | €186,205 | +€511,831 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.