GAREIN: what changed
Two fiscal 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.
GAREIN
Largest movements
- Current investments +€98,000
up €98,000 (+5.0%), from €2.0m to €2.1m
- Cash -€70,994
down €70,994 (-33.0%), from €215,433 to €144,439
mainly Current investments (-€98,000) and Net result for the year (-€39,961)
- Receivables within one year -€39,861
down €39,861 (-49.7%), from €80,138 to €40,276
of which Other amounts receivable: -€42,510
- Tangible fixed assets -€30,852
down €30,852 (-5.9%), from €526,503 to €495,651
of which Land and buildings: -€30,455
- Profit (loss) carried forward -€39,961
down €39,961 (-11.3%), from €352,895 to €312,933
- Gross operating margin -€2.1m
down €2.1m, from €2.1m to -€79
- Taxes -€634,993
down €634,993 (-99.9%), from €635,493 to €500
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.
Cash bridge derived
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 | €2,776,962 | €2,733,401 | -€43,561 | -1.6% |
| Fixed assets | 21/28 | €526,503 | €495,651 | -€30,852 | -5.9% |
| Tangible fixed assets | 22/27 | €526,503 | €495,651 | -€30,852 | -5.9% |
| Land and buildings | 22 | €526,106 | €495,651 | -€30,455 | -5.8% |
| Plant, machinery and equipment | 23 | €397 | - | -€397 | |
| Current assets | 29/58 | €2,250,459 | €2,237,750 | -€12,709 | -0.6% |
| Amounts receivable within one year | 40/41 | €80,138 | €40,276 | -€39,861 | -49.7% |
| Trade receivables | 40 | - | €2,648 | +€2,648 | |
| Other amounts receivable | 41 | €80,138 | €37,628 | -€42,510 | -53.0% |
| Current investments | 50/53 | €1,954,889 | €2,052,889 | +€98,000 | +5.0% |
| Cash at bank and in hand | 54/58 | €215,433 | €144,439 | -€70,994 | -33.0% |
| Deferred charges and accrued income | 490/1 | - | €146 | +€146 | |
| Total equity and liabilities | 10/49 | €2,776,962 | €2,733,401 | -€43,561 | -1.6% |
| Equity | 10/15 | €2,626,852 | €2,586,891 | -€39,961 | -1.5% |
| Contributions | 10/11 | €720,000 | €720,000 | = | 0.0% |
| Capital | 10 | €720,000 | €720,000 | = | 0.0% |
| Issued capital | 100 | €720,000 | €720,000 | = | 0.0% |
| Reserves | 13 | €1,553,958 | €1,553,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €72,000 | €72,000 | = | 0.0% |
| Legal reserve | 130 | €72,000 | €72,000 | = | 0.0% |
| Distributable reserves | 133 | €1,481,958 | €1,481,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | €352,895 | €312,933 | -€39,961 | -11.3% |
| Amounts payable | 17/49 | €150,110 | €146,510 | -€3,600 | -2.4% |
| Amounts payable after more than one year | 17 | €1,670 | - | -€1,670 | |
| Other amounts payable | 178/9 | €1,670 | - | -€1,670 | |
| Amounts payable within one year | 42/48 | €147,700 | €146,510 | -€1,189 | -0.8% |
| Trade debts | 44 | €2,200 | - | -€2,200 | |
| Suppliers | 440/4 | €2,200 | - | -€2,200 | |
| Taxes, remuneration and social security | 45 | €145,500 | €146,510 | +€1,010 | +0.7% |
| Taxes | 450/3 | €145,500 | €146,000 | +€500 | +0.3% |
| Remuneration and social security | 454/9 | - | €510 | +€510 | |
| Accrued charges and deferred income | 492/3 | €740 | - | -€740 | |
| Non-recurring operating income | 76A | €2,066,487 | €12,000 | -€2.1m | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,670 | €30,852 | -€1,818 | -5.6% |
| Other operating charges | 640/8 | €17,052 | €9,243 | -€7,809 | -45.8% |
| Gross operating margin | 9900 | €2,080,177 | -€79 | -€2.1m | |
| Operating profit (loss) | 9901 | €2,030,455 | -€40,174 | -€2.1m | |
| Financial income | 75/76B | €780 | €780 | +€0 | 0.0% |
| Recurring financial income | 75 | €780 | €780 | +€0 | 0.0% |
| Financial charges | 65/66B | €260 | €68 | -€193 | -74.0% |
| Recurring financial charges | 65 | €260 | €68 | -€193 | -74.0% |
| Profit (loss) for the period before taxes | 9903 | €2,030,975 | -€39,461 | -€2.1m | |
| Income taxes | 67/77 | €635,493 | €500 | -€634,993 | -99.9% |
| Profit (loss) for the period | 9904 | €1,395,482 | -€39,961 | -€1.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,395,482 | -€39,961 | -€1.4m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.