GARI: 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.
GARI
Largest movements
- Receivables within one year -€184,354
down €184,354 (-67.0%), from €275,355 to €91,001
of which Other amounts receivable: -€187,774
- Cash -€69,116
down €69,116 (-96.9%), from €71,303 to €2,186
mainly Contributions, distributions and other (-€264,400) and Current portion of long-term debt (-€27,740)
- Tangible fixed assets -€14,673
down €14,673 (-4.6%), from €316,386 to €301,713
of which Land and buildings: -€14,940
- Contributions -€212,400
no longer reported in 2025 (was €212,400)
- Other debts +€56,167
new in 2025: €56,167
- Reserves -€52,000
down €52,000 (-12.2%), from €425,024 to €373,024
of which Distributable reserves: -€52,000
- Current portion of long-term debt -€27,740
down €27,740 (-63.5%), from €43,715 to €15,975
- Debts after one year -€14,725
down €14,725 (-90.1%), from €16,345 to €1,620
of which Financial debts: -€14,725
- Gross operating margin -€6,250
down €6,250 (-49.0%), from €12,764 to €6,514
- Financial income -€2,675
down €2,675 (-30.3%), from €8,815 to €6,140
- Financial charges -€748
down €748 (-47.2%), from €1,587 to €839
- Depreciation +€306
up €306 (+2.0%), from €15,406 to €15,712
- Other operating charges -€155
down €155 (-4.3%), from €3,641 to €3,486
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 | €694,896 | €429,129 | -€265,766 | -38.2% |
| Fixed assets | 21/28 | €345,486 | €330,813 | -€14,673 | -4.2% |
| Tangible fixed assets | 22/27 | €316,386 | €301,713 | -€14,673 | -4.6% |
| Land and buildings | 22 | €315,346 | €300,406 | -€14,940 | -4.7% |
| Furniture and vehicles | 24 | €690 | €957 | +€267 | +38.7% |
| Other tangible fixed assets | 26 | €350 | €350 | = | 0.0% |
| Financial fixed assets | 28 | €29,100 | €29,100 | = | 0.0% |
| Current assets | 29/58 | €349,410 | €98,316 | -€251,094 | -71.9% |
| Amounts receivable within one year | 40/41 | €275,355 | €91,001 | -€184,354 | -67.0% |
| Trade receivables | 40 | €3,469 | €6,888 | +€3,420 | +98.6% |
| Other amounts receivable | 41 | €271,886 | €84,113 | -€187,774 | -69.1% |
| Cash at bank and in hand | 54/58 | €71,303 | €2,186 | -€69,116 | -96.9% |
| Deferred charges and accrued income | 490/1 | €2,752 | €5,129 | +€2,377 | +86.4% |
| Total equity and liabilities | 10/49 | €694,896 | €429,129 | -€265,766 | -38.2% |
| Equity | 10/15 | €623,119 | €350,939 | -€272,180 | -43.7% |
| Contributions | 10/11 | €212,400 | - | -€212,400 | |
| Reserves | 13 | €425,024 | €373,024 | -€52,000 | -12.2% |
| Tax-exempt reserves | 132 | €27,365 | €27,365 | = | 0.0% |
| Distributable reserves | 133 | €397,659 | €345,659 | -€52,000 | -13.1% |
| Profit (loss) carried forward | 14 | -€14,306 | -€22,085 | -€7,780 | -54.4% |
| Amounts payable | 17/49 | €71,777 | €78,190 | +€6,413 | +8.9% |
| Amounts payable after more than one year | 17 | €16,345 | €1,620 | -€14,725 | -90.1% |
| Financial debts | 170/4 | €14,725 | - | -€14,725 | |
| Other amounts payable | 178/9 | €1,620 | €1,620 | = | 0.0% |
| Amounts payable within one year | 42/48 | €51,739 | €76,570 | +€24,831 | +48.0% |
| Current portion of amounts payable after more than one year | 42 | €43,715 | €15,975 | -€27,740 | -63.5% |
| Trade debts | 44 | €2,738 | €1,530 | -€1,208 | -44.1% |
| Suppliers | 440/4 | €2,738 | €1,530 | -€1,208 | -44.1% |
| Taxes, remuneration and social security | 45 | €5,286 | €2,899 | -€2,387 | -45.2% |
| Taxes | 450/3 | €5,286 | €2,899 | -€2,387 | -45.2% |
| Other amounts payable | 47/48 | - | €56,167 | +€56,167 | |
| Accrued charges and deferred income | 492/3 | €3,693 | - | -€3,693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,406 | €15,712 | +€306 | +2.0% |
| Other operating charges | 640/8 | €3,641 | €3,486 | -€155 | -4.3% |
| Gross operating margin | 9900 | €12,764 | €6,514 | -€6,250 | -49.0% |
| Operating profit (loss) | 9901 | -€6,284 | -€12,684 | -€6,400 | -101.8% |
| Financial income | 75/76B | €8,815 | €6,140 | -€2,675 | -30.3% |
| Recurring financial income | 75 | €8,815 | €6,140 | -€2,675 | -30.3% |
| Financial charges | 65/66B | €1,587 | €839 | -€748 | -47.2% |
| Recurring financial charges | 65 | €1,587 | €839 | -€748 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €944 | -€7,383 | -€8,327 | |
| Income taxes | 67/77 | €379 | €397 | +€18 | +4.8% |
| Profit (loss) for the period | 9904 | €565 | -€7,780 | -€8,345 | |
| Profit (loss) for the period to be appropriated | 9905 | €565 | -€7,780 | -€8,345 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.