GARO: 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.
GARO
Largest movements
- Cash -€9,043
down €9,043 (-99.6%), from €9,076 to €33
mainly Other debts (-€56,531)
- Other debts -€56,531
down €56,531 (-10.6%), from €534,975 to €478,443
- Trade debts +€27,730
up €27,730 (+39.1%), from €70,959 to €98,689
- Profit (loss) carried forward +€13,791
up €13,791 (+5.2%), from €263,321 to €277,112
- Financial charges -€12,730
down €12,730 (-97.5%), from €13,057 to €327
- Gross operating margin -€1,823
down €1,823 (-7.9%), from €22,938 to €21,115
- Taxes +€1,802
up €1,802 (+44.2%), from €4,076 to €5,878
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €891,482 | €882,439 | -€9,043 | -1.0% |
| Fixed assets | 21/28 | €882,406 | €882,406 | = | 0.0% |
| Tangible fixed assets | 22/27 | €882,406 | €882,406 | = | 0.0% |
| Land and buildings | 22 | €882,406 | €882,406 | = | 0.0% |
| Current assets | 29/58 | €9,076 | €33 | -€9,043 | -99.6% |
| Cash at bank and in hand | 54/58 | €9,076 | €33 | -€9,043 | -99.6% |
| Total equity and liabilities | 10/49 | €891,482 | €882,439 | -€9,043 | -1.0% |
| Equity | 10/15 | €283,781 | €297,572 | +€13,791 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| 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 | €263,321 | €277,112 | +€13,791 | +5.2% |
| Amounts payable | 17/49 | €607,701 | €584,867 | -€22,834 | -3.8% |
| Amounts payable within one year | 42/48 | €607,701 | €584,778 | -€22,923 | -3.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €70,959 | €98,689 | +€27,730 | +39.1% |
| Suppliers | 440/4 | €70,959 | €98,689 | +€27,730 | +39.1% |
| Taxes, remuneration and social security | 45 | €1,768 | €7,646 | +€5,878 | +333% |
| Taxes | 450/3 | €1,768 | €7,646 | +€5,878 | +333% |
| Other amounts payable | 47/48 | €534,975 | €478,443 | -€56,531 | -10.6% |
| Accrued charges and deferred income | 492/3 | €0 | €89 | +€89 | |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | €22,938 | €21,115 | -€1,823 | -7.9% |
| Operating profit (loss) | 9901 | €21,852 | €19,996 | -€1,856 | -8.5% |
| Financial charges | 65/66B | €13,057 | €327 | -€12,730 | -97.5% |
| Recurring financial charges | 65 | €13,057 | €327 | -€12,730 | -97.5% |
| Profit (loss) for the period before taxes | 9903 | €8,795 | €19,669 | +€10,874 | +124% |
| Income taxes | 67/77 | €4,076 | €5,878 | +€1,802 | +44.2% |
| Profit (loss) for the period | 9904 | €4,719 | €13,791 | +€9,072 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €4,719 | €13,791 | +€9,072 | +192% |
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 17 October 2026 via checked.be.