GARJAU NEFRO: what changed
GARJAU NEFRO
Largest movements
- Cash +€29,826
up €29,826 (+105%), from €28,457 to €58,283
mainly Net result for the year (+€170,218) and Other debts (+€64,136)
- Tangible fixed assets +€18,436
new in 2025: €18,436
- Deferred charges and accrued income +€16,644
up €16,644 (+24.3%), from €68,381 to €85,025
- Receivables within one year -€9,671
down €9,671 (-18.7%), from €51,779 to €42,108
- Other debts +€64,136
up €64,136 (+60.5%), from €106,082 to €170,218
- Trade debts -€10,191
down €10,191 (-100%), from €10,191 to €0
- Gross operating margin +€84,212
up €84,212 (+59.5%), from €141,431 to €225,643
- Taxes +€20,889
up €20,889 (+61.8%), from €33,776 to €54,665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €148,648 | €203,883 | +€55,235 | +37.2% |
| Fixed assets | 21/28 | €30 | €18,466 | +€18,436 | +61,454% |
| Tangible fixed assets | 22/27 | - | €18,436 | +€18,436 | |
| Furniture and vehicles | 24 | - | €18,436 | +€18,436 | |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €148,618 | €185,417 | +€36,799 | +24.8% |
| Amounts receivable within one year | 40/41 | €51,779 | €42,108 | -€9,671 | -18.7% |
| Other amounts receivable | 41 | €51,779 | €42,108 | -€9,671 | -18.7% |
| Cash at bank and in hand | 54/58 | €28,457 | €58,283 | +€29,826 | +105% |
| Deferred charges and accrued income | 490/1 | €68,381 | €85,025 | +€16,644 | +24.3% |
| Total equity and liabilities | 10/49 | €148,648 | €203,883 | +€55,235 | +37.2% |
| Equity | 10/15 | €12,000 | €12,000 | = | 0.0% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €136,648 | €191,883 | +€55,235 | +40.4% |
| Amounts payable within one year | 42/48 | €136,648 | €191,883 | +€55,235 | +40.4% |
| Trade debts | 44 | €10,191 | €0 | -€10,191 | -100% |
| Suppliers | 440/4 | €10,191 | €0 | -€10,191 | -100% |
| Taxes, remuneration and social security | 45 | €20,375 | €21,665 | +€1,290 | +6.3% |
| Taxes | 450/3 | €20,375 | €21,665 | +€1,290 | +6.3% |
| Other amounts payable | 47/48 | €106,082 | €170,218 | +€64,136 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €609 | +€609 | |
| Other operating charges | 640/8 | €568 | €684 | +€116 | +20.4% |
| Gross operating margin | 9900 | €141,431 | €225,643 | +€84,212 | +59.5% |
| Operating profit (loss) | 9901 | €140,863 | €224,350 | +€83,487 | +59.3% |
| Financial income | 75/76B | €1,917 | €2,143 | +€227 | +11.8% |
| Recurring financial income | 75 | €1,917 | €2,143 | +€227 | +11.8% |
| Financial charges | 65/66B | €2,922 | €1,611 | -€1,311 | -44.9% |
| Recurring financial charges | 65 | €2,922 | €1,611 | -€1,311 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €139,858 | €224,883 | +€85,025 | +60.8% |
| Income taxes | 67/77 | €33,776 | €54,665 | +€20,889 | +61.8% |
| Profit (loss) for the period | 9904 | €106,082 | €170,218 | +€64,136 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | €106,082 | €170,218 | +€64,136 | +60.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.