Gardevoo: 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.
Gardevoo
Largest movements
- Cash -€36,124
down €36,124 (-43.6%), from €82,946 to €46,822
mainly Debts after one year (-€25,686) and Tax, wage and social debts (-€17,037)
- Tangible fixed assets -€23,520
down €23,520 (-8.3%), from €283,356 to €259,837
of which Plant, machinery and equipment: -€20,062
- Receivables within one year -€6,984
down €6,984 (-45.9%), from €15,210 to €8,226
of which Trade receivables: -€8,918
- Deferred charges and accrued income +€4,948
new in 2025: €4,948
- Debts after one year -€25,686
down €25,686 (-16.1%), from €159,564 to €133,877
- Tax, wage and social debts -€17,037
down €17,037 (-52.1%), from €32,716 to €15,679
of which Remuneration and social security: -€9,548
- Profit (loss) carried forward -€12,290
down €12,290 (-16.0%), from €76,983 to €64,693
- Trade debts -€7,394
down €7,394 (-29.7%), from €24,930 to €17,536
- Staff costs +€29,607
up €29,607 (+19.7%), from €150,467 to €180,074
- Depreciation +€22,472
up €22,472 (+146%), from €15,411 to €37,883
- Gross operating margin +€20,631
up €20,631 (+10.4%), from €198,145 to €218,776
- Financial charges +€6,052
up €6,052 (+95.4%), from €6,341 to €12,394
- Taxes -€2,522
down €2,522, from €1,267 to -€1,256
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 | €402,572 | €340,893 | -€61,680 | -15.3% |
| Fixed assets | 21/28 | €283,676 | €260,157 | -€23,520 | -8.3% |
| Tangible fixed assets | 22/27 | €283,356 | €259,837 | -€23,520 | -8.3% |
| Plant, machinery and equipment | 23 | €255,461 | €235,398 | -€20,062 | -7.9% |
| Furniture and vehicles | 24 | €27,896 | €20,247 | -€7,649 | -27.4% |
| Other tangible fixed assets | 26 | - | €4,192 | +€4,192 | |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €118,896 | €80,736 | -€38,160 | -32.1% |
| Stocks and contracts in progress | 3 | €20,740 | €20,740 | = | 0.0% |
| Stocks | 30/36 | €20,740 | €20,740 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,210 | €8,226 | -€6,984 | -45.9% |
| Trade receivables | 40 | €8,918 | €0 | -€8,918 | -100% |
| Other amounts receivable | 41 | €6,291 | €8,226 | +€1,935 | +30.8% |
| Cash at bank and in hand | 54/58 | €82,946 | €46,822 | -€36,124 | -43.6% |
| Deferred charges and accrued income | 490/1 | - | €4,948 | +€4,948 | |
| Total equity and liabilities | 10/49 | €402,572 | €340,893 | -€61,680 | -15.3% |
| Equity | 10/15 | €106,983 | €94,693 | -€12,290 | -11.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,983 | €64,693 | -€12,290 | -16.0% |
| Amounts payable | 17/49 | €295,589 | €246,199 | -€49,390 | -16.7% |
| Amounts payable after more than one year | 17 | €159,564 | €133,877 | -€25,686 | -16.1% |
| Financial debts | 170/4 | €159,564 | €133,877 | -€25,686 | -16.1% |
| Amounts payable within one year | 42/48 | €136,025 | €112,322 | -€23,703 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €24,603 | €25,686 | +€1,083 | +4.4% |
| Trade debts | 44 | €24,930 | €17,536 | -€7,394 | -29.7% |
| Suppliers | 440/4 | €24,930 | €17,536 | -€7,394 | -29.7% |
| Taxes, remuneration and social security | 45 | €32,716 | €15,679 | -€17,037 | -52.1% |
| Taxes | 450/3 | €17,462 | €9,972 | -€7,490 | -42.9% |
| Remuneration and social security | 454/9 | €15,254 | €5,707 | -€9,548 | -62.6% |
| Other amounts payable | 47/48 | €53,776 | €53,421 | -€355 | -0.7% |
| Remuneration, social security and pensions | 62 | €150,467 | €180,074 | +€29,607 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,411 | €37,883 | +€22,472 | +146% |
| Other operating charges | 640/8 | €1,549 | €1,974 | +€425 | +27.5% |
| Gross operating margin | 9900 | €198,145 | €218,776 | +€20,631 | +10.4% |
| Operating profit (loss) | 9901 | €30,718 | -€1,155 | -€31,873 | |
| Financial income | 75/76B | €5 | €3 | -€2 | -40.2% |
| Recurring financial income | 75 | €5 | €3 | -€2 | -40.2% |
| Financial charges | 65/66B | €6,341 | €12,394 | +€6,052 | +95.4% |
| Recurring financial charges | 65 | €6,341 | €12,394 | +€6,052 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | €24,382 | -€13,546 | -€37,927 | |
| Income taxes | 67/77 | €1,267 | -€1,256 | -€2,522 | |
| Profit (loss) for the period | 9904 | €23,115 | -€12,290 | -€35,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,115 | -€12,290 | -€35,405 |
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 22 October 2026 via checked.be.