GARE/NEMENTS: what changed
GARE/NEMENTS
Largest movements
- Financial fixed assets +€9,245
up €9,245 (+19.9%), from €46,544 to €55,789
- Receivables within one year -€9,175
down €9,175 (-19.4%), from €47,353 to €38,178
of which Other amounts receivable: -€9,048
- Cash +€6,727
up €6,727 (+30.8%), from €21,813 to €28,540
mainly Net result for the year (+€9,939) and Receivables within one year (+€9,175)
- Deferred charges and accrued income -€1,665
down €1,665 (-78.9%), from €2,111 to €446
- Debts after one year -€15,055
down €15,055 (-27.6%), from €54,543 to €39,488
- Profit (loss) carried forward +€9,939
up €9,939 (+940%), from €1,057 to €10,996
- Current portion of long-term debt +€6,599
up €6,599 (+78.0%), from €8,457 to €15,055
- Tax, wage and social debts +€3,378
up €3,378 (+40.4%), from €8,364 to €11,742
of which Taxes: +€2,481
- Trade debts -€2,362
down €2,362 (-85.3%), from €2,768 to €406
- Staff costs -€19,581
down €19,581 (-99.3%), from €19,717 to €136
- Financial charges +€4,249
up €4,249 (+130%), from €3,275 to €7,524
- Taxes +€2,833
up €2,833 (+1,855%), from €153 to €2,986
- Gross operating margin -€910
down €910 (-3.9%), from €23,065 to €22,156
- Other operating charges +€400
new in 2025: €400
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 | €120,064 | €124,025 | +€3,961 | +3.3% |
| Fixed assets | 21/28 | €48,787 | €56,860 | +€8,074 | +16.5% |
| Tangible fixed assets | 22/27 | €2,243 | €1,071 | -€1,172 | -52.2% |
| Plant, machinery and equipment | 23 | €537 | €229 | -€308 | -57.3% |
| Furniture and vehicles | 24 | €1,706 | €842 | -€864 | -50.6% |
| Financial fixed assets | 28 | €46,544 | €55,789 | +€9,245 | +19.9% |
| Current assets | 29/58 | €71,277 | €67,165 | -€4,112 | -5.8% |
| Amounts receivable within one year | 40/41 | €47,353 | €38,178 | -€9,175 | -19.4% |
| Trade receivables | 40 | €3,897 | €3,770 | -€127 | -3.3% |
| Other amounts receivable | 41 | €43,456 | €34,409 | -€9,048 | -20.8% |
| Cash at bank and in hand | 54/58 | €21,813 | €28,540 | +€6,727 | +30.8% |
| Deferred charges and accrued income | 490/1 | €2,111 | €446 | -€1,665 | -78.9% |
| Total equity and liabilities | 10/49 | €120,064 | €124,025 | +€3,961 | +3.3% |
| Equity | 10/15 | €16,057 | €25,996 | +€9,939 | +61.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,057 | €10,996 | +€9,939 | +940% |
| Amounts payable | 17/49 | €104,007 | €98,029 | -€5,977 | -5.7% |
| Amounts payable after more than one year | 17 | €54,543 | €39,488 | -€15,055 | -27.6% |
| Financial debts | 170/4 | €54,543 | €39,488 | -€15,055 | -27.6% |
| Amounts payable within one year | 42/48 | €49,463 | €58,541 | +€9,078 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €8,457 | €15,055 | +€6,599 | +78.0% |
| Trade debts | 44 | €2,768 | €406 | -€2,362 | -85.3% |
| Suppliers | 440/4 | €2,768 | €406 | -€2,362 | -85.3% |
| Taxes, remuneration and social security | 45 | €8,364 | €11,742 | +€3,378 | +40.4% |
| Taxes | 450/3 | €4,122 | €6,604 | +€2,481 | +60.2% |
| Remuneration and social security | 454/9 | €4,242 | €5,138 | +€896 | +21.1% |
| Other amounts payable | 47/48 | €29,875 | €31,339 | +€1,464 | +4.9% |
| Remuneration, social security and pensions | 62 | €19,717 | €136 | -€19,581 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,172 | €1,172 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €23,065 | €22,156 | -€910 | -3.9% |
| Operating profit (loss) | 9901 | €2,177 | €20,448 | +€18,272 | +839% |
| Financial charges | 65/66B | €3,275 | €7,524 | +€4,249 | +130% |
| Recurring financial charges | 65 | €3,275 | €7,524 | +€4,249 | +130% |
| Profit (loss) for the period before taxes | 9903 | -€1,098 | €12,924 | +€14,022 | |
| Income taxes | 67/77 | €153 | €2,986 | +€2,833 | +1,855% |
| Profit (loss) for the period | 9904 | -€1,251 | €9,939 | +€11,189 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,251 | €9,939 | +€11,189 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.