GARFIELD'S: 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.
GARFIELD'S
Largest movements
- Financial fixed assets -€99,900
down €99,900 (-99.9%), from €100,000 to €100
- Receivables after one year -€37,000
down €37,000 (-100%), from €37,000 to €0
- Receivables within one year -€29,237
down €29,237 (-100%), from €29,237 to €0
of which Other amounts receivable: -€23,769
- Profit (loss) carried forward -€153,427
down €153,427, from €6,716 to -€146,711
- Other debts -€12,915
down €12,915 (-33.3%), from €38,805 to €25,890
- Short-term financial debts +€7,359
new in 2025: €7,359
- Debts after one year -€7,170
down €7,170 (-14.6%), from €49,029 to €41,859
of which Financial debts: -€7,170
- Depreciation -€5,225
no longer reported in 2025 (was €5,225)
- Financial income -€2,567
no longer reported in 2025 (was €2,567)
- Gross operating margin -€2,085
down €2,085 (-65.0%), from €3,206 to €1,121
- Taxes +€1,450
up €1,450 (+2,900%), from €50 to €1,500
- Financial charges -€1,191
down €1,191 (-35.6%), from €3,346 to €2,154
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 | €218,689 | €52,536 | -€166,153 | -76.0% |
| Fixed assets | 21/28 | €152,429 | €52,529 | -€99,900 | -65.5% |
| Tangible fixed assets | 22/27 | €52,429 | €52,429 | = | 0.0% |
| Land and buildings | 22 | €52,429 | €52,429 | = | 0.0% |
| Financial fixed assets | 28 | €100,000 | €100 | -€99,900 | -99.9% |
| Current assets | 29/58 | €66,259 | €6 | -€66,253 | -100.0% |
| Amounts receivable after more than one year | 29 | €37,000 | €0 | -€37,000 | -100% |
| Other amounts receivable | 291 | €37,000 | €0 | -€37,000 | -100% |
| Amounts receivable within one year | 40/41 | €29,237 | €0 | -€29,237 | -100% |
| Trade receivables | 40 | €5,468 | €0 | -€5,468 | -100% |
| Other amounts receivable | 41 | €23,769 | €0 | -€23,769 | -100% |
| Cash at bank and in hand | 54/58 | €22 | €6 | -€16 | -73.0% |
| Total equity and liabilities | 10/49 | €218,689 | €52,536 | -€166,153 | -76.0% |
| Equity | 10/15 | €130,855 | -€22,573 | -€153,427 | |
| Contributions | 10/11 | €122,707 | €122,707 | = | 0.0% |
| Reserves | 13 | €1,431 | €1,431 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,431 | €1,431 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,431 | €1,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,716 | -€146,711 | -€153,427 | |
| Amounts payable | 17/49 | €87,834 | €75,108 | -€12,726 | -14.5% |
| Amounts payable after more than one year | 17 | €49,029 | €41,859 | -€7,170 | -14.6% |
| Financial debts | 170/4 | €47,170 | €40,000 | -€7,170 | -15.2% |
| Other amounts payable | 178/9 | €1,859 | €1,859 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,805 | €33,249 | -€5,556 | -14.3% |
| Financial debts | 43 | - | €7,359 | +€7,359 | |
| Credit institutions | 430/8 | - | €7,359 | +€7,359 | |
| Other amounts payable | 47/48 | €38,805 | €25,890 | -€12,915 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,225 | - | -€5,225 | |
| Other operating charges | 640/8 | €1,960 | €2,119 | +€159 | +8.1% |
| Non-recurring operating charges | 66A | - | €148,775 | +€148,775 | |
| Gross operating margin | 9900 | €3,206 | €1,121 | -€2,085 | -65.0% |
| Operating profit (loss) | 9901 | -€3,980 | -€149,773 | -€145,793 | -3,663% |
| Financial income | 75/76B | €2,567 | - | -€2,567 | |
| Recurring financial income | 75 | €2,567 | - | -€2,567 | |
| Financial charges | 65/66B | €3,346 | €2,154 | -€1,191 | -35.6% |
| Recurring financial charges | 65 | €3,346 | €2,154 | -€1,191 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,759 | -€151,927 | -€147,168 | -3,092% |
| Income taxes | 67/77 | €50 | €1,500 | +€1,450 | +2,900% |
| Profit (loss) for the period | 9904 | -€4,809 | -€153,427 | -€148,618 | -3,090% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,809 | -€153,427 | -€148,618 | -3,090% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.