GARFCOL MANAGEMENT: 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.
GARFCOL MANAGEMENT
Largest movements
- Receivables within one year +€4,732
up €4,732 (+182%), from €2,605 to €7,337
- Profit (loss) carried forward +€5,928
up €5,928 (+20.3%), from €29,207 to €35,135
- Trade debts -€2,000
no longer reported in 2025 (was €2,000)
- Tax, wage and social debts +€541
up €541 (+16.9%), from €3,195 to €3,736
- Turnover +€3,145
up €3,145 (+16.3%), from €19,340 to €22,484
- Gross operating margin +€2,481
up €2,481 (+42.3%), from €5,867 to €8,348
- Purchases and services +€664
up €664 (+4.9%), from €13,473 to €14,137
- Taxes +€629
up €629 (+36.6%), from €1,719 to €2,348
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 | €36,261 | €40,731 | +€4,469 | +12.3% |
| Current assets | 29/58 | €36,261 | €40,731 | +€4,469 | +12.3% |
| Amounts receivable within one year | 40/41 | €2,605 | €7,337 | +€4,732 | +182% |
| Trade receivables | 40 | €2,605 | €7,337 | +€4,732 | +182% |
| Cash at bank and in hand | 54/58 | €33,656 | €33,394 | -€263 | -0.8% |
| Total equity and liabilities | 10/49 | €36,261 | €40,731 | +€4,469 | +12.3% |
| Equity | 10/15 | €31,067 | €36,995 | +€5,928 | +19.1% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,207 | €35,135 | +€5,928 | +20.3% |
| Amounts payable | 17/49 | €5,195 | €3,736 | -€1,459 | -28.1% |
| Amounts payable within one year | 42/48 | €5,195 | €3,736 | -€1,459 | -28.1% |
| Trade debts | 44 | €2,000 | - | -€2,000 | |
| Suppliers | 440/4 | €2,000 | - | -€2,000 | |
| Taxes, remuneration and social security | 45 | €3,195 | €3,736 | +€541 | +16.9% |
| Taxes | 450/3 | €3,195 | €3,736 | +€541 | +16.9% |
| Turnover | 70 | €19,340 | €22,484 | +€3,145 | +16.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €13,473 | €14,137 | +€664 | +4.9% |
| Gross operating margin | 9900 | €5,867 | €8,348 | +€2,481 | +42.3% |
| Operating profit (loss) | 9901 | €5,867 | €8,348 | +€2,481 | +42.3% |
| Financial charges | 65/66B | €67 | €72 | +€5 | +7.4% |
| Recurring financial charges | 65 | €67 | €72 | +€5 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €5,800 | €8,276 | +€2,476 | +42.7% |
| Income taxes | 67/77 | €1,719 | €2,348 | +€629 | +36.6% |
| Profit (loss) for the period | 9904 | €4,081 | €5,928 | +€1,847 | +45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,081 | €5,928 | +€1,847 | +45.3% |
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 14 October 2026 via checked.be.