GARELESSE: 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.
GARELESSE
Largest movements
- Tangible fixed assets -€14,328
down €14,328 (-9.9%), from €144,032 to €129,704
of which Plant, machinery and equipment: -€9,882
- Cash -€7,939
down €7,939 (-49.1%), from €16,156 to €8,217
mainly Debts after one year (-€24,275) and Accrued charges and deferred income (-€8,191)
- Intangible fixed assets -€4,840
down €4,840 (-50.0%), from €9,680 to €4,840
- Debts after one year -€24,275
down €24,275 (-35.4%), from €68,508 to €44,233
- Accrued charges and deferred income -€8,191
no longer reported in 2025 (was €8,191)
- Other debts +€7,573
up €7,573 (+3.5%), from €213,757 to €221,330
- Profit (loss) carried forward -€7,170
down €7,170 (-4.8%), from -€148,242 to -€155,412
- Current portion of long-term debt +€3,542
up €3,542 (+20.0%), from €17,733 to €21,275
- Gross operating margin -€7,291
down €7,291 (-5.7%), from €127,068 to €119,778
- Staff costs +€7,065
up €7,065 (+7.2%), from €98,203 to €105,268
- Financial income +€2,931
up €2,931 (+4,814%), from €61 to €2,992
of which Non-recurring financial income: +€2,023
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 | €180,321 | €151,986 | -€28,335 | -15.7% |
| Fixed assets | 21/28 | €157,144 | €137,976 | -€19,168 | -12.2% |
| Intangible fixed assets | 21 | €9,680 | €4,840 | -€4,840 | -50.0% |
| Tangible fixed assets | 22/27 | €144,032 | €129,704 | -€14,328 | -9.9% |
| Land and buildings | 22 | €117,080 | €112,634 | -€4,446 | -3.8% |
| Plant, machinery and equipment | 23 | €26,952 | €17,070 | -€9,882 | -36.7% |
| Financial fixed assets | 28 | €3,432 | €3,432 | = | 0.0% |
| Current assets | 29/58 | €23,176 | €14,010 | -€9,167 | -39.6% |
| Stocks and contracts in progress | 3 | €3,154 | €3,381 | +€227 | +7.2% |
| Stocks | 30/36 | €3,154 | €3,381 | +€227 | +7.2% |
| Amounts receivable within one year | 40/41 | €3,866 | €2,411 | -€1,455 | -37.6% |
| Trade receivables | 40 | €1,956 | €1,136 | -€820 | -41.9% |
| Other amounts receivable | 41 | €1,910 | €1,275 | -€635 | -33.3% |
| Cash at bank and in hand | 54/58 | €16,156 | €8,217 | -€7,939 | -49.1% |
| Total equity and liabilities | 10/49 | €180,321 | €151,986 | -€28,335 | -15.7% |
| Equity | 10/15 | -€135,842 | -€143,012 | -€7,170 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€148,242 | -€155,412 | -€7,170 | -4.8% |
| Amounts payable | 17/49 | €316,163 | €294,998 | -€21,165 | -6.7% |
| Amounts payable after more than one year | 17 | €68,508 | €44,233 | -€24,275 | -35.4% |
| Financial debts | 170/4 | €68,508 | €44,233 | -€24,275 | -35.4% |
| Amounts payable within one year | 42/48 | €239,464 | €250,764 | +€11,301 | +4.7% |
| Current portion of amounts payable after more than one year | 42 | €17,733 | €21,275 | +€3,542 | +20.0% |
| Trade debts | 44 | €1,205 | €2,587 | +€1,382 | +115% |
| Suppliers | 440/4 | €1,205 | €2,587 | +€1,382 | +115% |
| Taxes, remuneration and social security | 45 | €6,769 | €5,573 | -€1,197 | -17.7% |
| Taxes | 450/3 | €1,472 | - | -€1,472 | |
| Remuneration and social security | 454/9 | €5,297 | €5,573 | +€275 | +5.2% |
| Other amounts payable | 47/48 | €213,757 | €221,330 | +€7,573 | +3.5% |
| Accrued charges and deferred income | 492/3 | €8,191 | - | -€8,191 | |
| Remuneration, social security and pensions | 62 | €98,203 | €105,268 | +€7,065 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,168 | €19,168 | = | 0.0% |
| Other operating charges | 640/8 | €1,159 | €1,233 | +€74 | +6.4% |
| Gross operating margin | 9900 | €127,068 | €119,778 | -€7,291 | -5.7% |
| Operating profit (loss) | 9901 | €8,538 | -€5,892 | -€14,430 | |
| Financial income | 75/76B | €61 | €2,992 | +€2,931 | +4,814% |
| Recurring financial income | 75 | €58 | €966 | +€908 | +1,569% |
| Non-recurring financial income | 76B | €3 | €2,026 | +€2,023 | +67,437% |
| Financial charges | 65/66B | €4,119 | €4,270 | +€151 | +3.7% |
| Recurring financial charges | 65 | €3,788 | €3,493 | -€295 | -7.8% |
| Non-recurring financial charges | 66B | €331 | €777 | +€446 | +135% |
| Profit (loss) for the period before taxes | 9903 | €4,480 | -€7,170 | -€11,650 | |
| Profit (loss) for the period | 9904 | €4,480 | -€7,170 | -€11,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,480 | -€7,170 | -€11,650 |
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.