GARNIMETAL: 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.
GARNIMETAL
Largest movements
- Receivables within one year +€335,648
up €335,648 (+33.6%), from €999,010 to €1.3m
of which Trade receivables: +€379,760
- Cash -€313,653
down €313,653 (-80.9%), from €387,494 to €73,841
mainly Receivables within one year (-€335,648) and Advances received (-€199,703)
- Stocks and contracts -€142,523
down €142,523 (-15.2%), from €937,554 to €795,031
of which Contracts in progress: -€108,148
- Tangible fixed assets +€38,636
up €38,636 (+16.5%), from €233,540 to €272,176
of which Plant, machinery and equipment: +€50,230
- Trade debts +€212,078
up €212,078 (+53.9%), from €393,354 to €605,432
- Advances received -€199,703
down €199,703 (-16.3%), from €1.2m to €1.0m
- Debts after one year -€117,959
down €117,959 (-20.2%), from €584,993 to €467,034
of which Financial debts: -€117,959
- Profit (loss) carried forward +€39,870
up €39,870 (+72.0%), from €55,353 to €95,223
- Staff costs -€57,576
down €57,576 (-8.6%), from €671,755 to €614,179
- Gross operating margin -€45,772
down €45,772 (-5.7%), from €805,885 to €760,113
- Financial income +€16,121
up €16,121 (+429%), from €3,757 to €19,878
- Taxes +€10,477
up €10,477 (+117%), from €8,920 to €19,397
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,575,292 | €2,485,822 | -€89,470 | -3.5% |
| Fixed assets | 21/28 | €238,605 | €280,441 | +€41,836 | +17.5% |
| Intangible fixed assets | 21 | €1,400 | €4,600 | +€3,200 | +229% |
| Tangible fixed assets | 22/27 | €233,540 | €272,176 | +€38,636 | +16.5% |
| Plant, machinery and equipment | 23 | €213,052 | €263,282 | +€50,230 | +23.6% |
| Furniture and vehicles | 24 | €20,488 | €8,894 | -€11,594 | -56.6% |
| Financial fixed assets | 28 | €3,665 | €3,665 | = | 0.0% |
| Current assets | 29/58 | €2,336,688 | €2,205,382 | -€131,306 | -5.6% |
| Stocks and contracts in progress | 3 | €937,554 | €795,031 | -€142,523 | -15.2% |
| Stocks | 30/36 | €254,290 | €219,915 | -€34,375 | -13.5% |
| Contracts in progress | 37 | €683,264 | €575,115 | -€108,148 | -15.8% |
| Amounts receivable within one year | 40/41 | €999,010 | €1,334,658 | +€335,648 | +33.6% |
| Trade receivables | 40 | €933,227 | €1,312,987 | +€379,760 | +40.7% |
| Other amounts receivable | 41 | €65,783 | €21,671 | -€44,112 | -67.1% |
| Cash at bank and in hand | 54/58 | €387,494 | €73,841 | -€313,653 | -80.9% |
| Deferred charges and accrued income | 490/1 | €12,629 | €1,852 | -€10,778 | -85.3% |
| Total equity and liabilities | 10/49 | €2,575,292 | €2,485,822 | -€89,470 | -3.5% |
| Equity | 10/15 | €158,267 | €200,236 | +€41,969 | +26.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,914 | €5,013 | +€2,098 | +72.0% |
| Non-distributable reserves | 130/1 | €2,914 | €5,013 | +€2,098 | +72.0% |
| Legal reserve | 130 | €2,914 | €5,013 | +€2,098 | +72.0% |
| Profit (loss) carried forward | 14 | €55,353 | €95,223 | +€39,870 | +72.0% |
| Amounts payable | 17/49 | €2,417,025 | €2,285,586 | -€131,439 | -5.4% |
| Amounts payable after more than one year | 17 | €584,993 | €467,034 | -€117,959 | -20.2% |
| Financial debts | 170/4 | €479,993 | €362,034 | -€117,959 | -24.6% |
| Other amounts payable | 178/9 | €105,000 | €105,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,832,032 | €1,813,052 | -€18,980 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €39,048 | €31,625 | -€7,423 | -19.0% |
| Trade debts | 44 | €393,354 | €605,432 | +€212,078 | +53.9% |
| Suppliers | 440/4 | €393,354 | €605,432 | +€212,078 | +53.9% |
| Advances received on contracts in progress | 46 | €1,226,641 | €1,026,938 | -€199,703 | -16.3% |
| Taxes, remuneration and social security | 45 | €114,552 | €114,034 | -€518 | -0.5% |
| Taxes | 450/3 | €40,698 | €36,170 | -€4,527 | -11.1% |
| Remuneration and social security | 454/9 | €73,854 | €77,864 | +€4,010 | +5.4% |
| Other amounts payable | 47/48 | €58,438 | €35,024 | -€23,414 | -40.1% |
| Accrued charges and deferred income | 492/3 | - | €5,500 | +€5,500 | |
| Remuneration, social security and pensions | 62 | €671,755 | €614,179 | -€57,576 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,750 | €83,918 | +€1,168 | +1.4% |
| Other operating charges | 640/8 | €5,841 | €2,183 | -€3,658 | -62.6% |
| Gross operating margin | 9900 | €805,885 | €760,113 | -€45,772 | -5.7% |
| Operating profit (loss) | 9901 | €45,539 | €59,832 | +€14,293 | +31.4% |
| Financial income | 75/76B | €3,757 | €19,878 | +€16,121 | +429% |
| Recurring financial income | 75 | €3,757 | €19,878 | +€16,121 | +429% |
| Financial charges | 65/66B | €25,742 | €18,345 | -€7,397 | -28.7% |
| Recurring financial charges | 65 | €25,742 | €18,345 | -€7,397 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €23,554 | €61,366 | +€37,812 | +161% |
| Income taxes | 67/77 | €8,920 | €19,397 | +€10,477 | +117% |
| Profit (loss) for the period | 9904 | €14,634 | €41,969 | +€27,334 | +187% |
| Profit (loss) for the period to be appropriated | 9905 | €14,634 | €41,969 | +€27,334 | +187% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.