GARO'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.
GARO'S
Largest movements
- Receivables within one year +€32,367
up €32,367 (+15.0%), from €216,355 to €248,722
of which Other amounts receivable: +€88,524
- Cash -€23,414
down €23,414 (-45.1%), from €51,888 to €28,474
mainly Advances received (-€89,494) and Receivables within one year (-€32,367)
- Tangible fixed assets -€5,075
down €5,075 (-50.1%), from €10,138 to €5,063
- Advances received -€89,494
down €89,494 (-96.2%), from €93,034 to €3,540
- Profit (loss) carried forward +€59,568
up €59,568 (+134%), from €44,478 to €104,046
- Other debts +€27,775
new in 2024: €27,775
- Trade debts +€12,136
up €12,136 (+10.3%), from €117,522 to €129,658
- Tax, wage and social debts -€7,081
down €7,081 (-72.3%), from €9,795 to €2,714
- Turnover -€540,429
no longer reported in 2024 (was €540,429)
- Purchases and services +€332,074
up €332,074 (+67.0%), from €495,956 to €828,031
- Gross operating margin +€27,658
up €27,658 (+62.2%), from €44,472 to €72,130
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 | €279,355 | €282,259 | +€2,904 | +1.0% |
| Fixed assets | 21/28 | €10,138 | €5,063 | -€5,075 | -50.1% |
| Tangible fixed assets | 22/27 | €10,138 | €5,063 | -€5,075 | -50.1% |
| Furniture and vehicles | 24 | €10,138 | €5,063 | -€5,075 | -50.1% |
| Current assets | 29/58 | €269,217 | €277,196 | +€7,979 | +3.0% |
| Amounts receivable within one year | 40/41 | €216,355 | €248,722 | +€32,367 | +15.0% |
| Trade receivables | 40 | €190,499 | €134,341 | -€56,158 | -29.5% |
| Other amounts receivable | 41 | €25,856 | €114,381 | +€88,524 | +342% |
| Cash at bank and in hand | 54/58 | €51,888 | €28,474 | -€23,414 | -45.1% |
| Deferred charges and accrued income | 490/1 | €974 | - | -€974 | |
| Total equity and liabilities | 10/49 | €279,355 | €282,259 | +€2,904 | +1.0% |
| Equity | 10/15 | €59,003 | €118,572 | +€59,568 | +101% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €525 | €525 | = | 0.0% |
| Non-distributable reserves | 130/1 | €525 | €525 | = | 0.0% |
| Reserves not available under the articles | 1311 | €525 | €525 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,478 | €104,046 | +€59,568 | +134% |
| Amounts payable | 17/49 | €220,351 | €163,687 | -€56,664 | -25.7% |
| Amounts payable within one year | 42/48 | €220,351 | €163,687 | -€56,664 | -25.7% |
| Trade debts | 44 | €117,522 | €129,658 | +€12,136 | +10.3% |
| Suppliers | 440/4 | €117,522 | €129,658 | +€12,136 | +10.3% |
| Advances received on contracts in progress | 46 | €93,034 | €3,540 | -€89,494 | -96.2% |
| Taxes, remuneration and social security | 45 | €9,795 | €2,714 | -€7,081 | -72.3% |
| Taxes | 450/3 | €9,795 | €2,714 | -€7,081 | -72.3% |
| Other amounts payable | 47/48 | - | €27,775 | +€27,775 | |
| Turnover | 70 | €540,429 | - | -€540,429 | |
| Goods, raw materials, services and sundry goods | 60/61 | €495,956 | €828,031 | +€332,074 | +67.0% |
| Remuneration, social security and pensions | 62 | - | €232 | +€232 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,972 | €7,669 | +€1,697 | +28.4% |
| Other operating charges | 640/8 | €1,984 | €3,226 | +€1,242 | +62.6% |
| Gross operating margin | 9900 | €44,472 | €72,130 | +€27,658 | +62.2% |
| Operating profit (loss) | 9901 | €36,516 | €61,003 | +€24,486 | +67.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €387 | €408 | +€21 | +5.4% |
| Recurring financial charges | 65 | €387 | €408 | +€21 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €36,129 | €60,595 | +€24,465 | +67.7% |
| Income taxes | 67/77 | - | €1,027 | +€1,027 | |
| Profit (loss) for the period | 9904 | €36,129 | €59,568 | +€23,439 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,129 | €59,568 | +€23,439 | +64.9% |
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 18 October 2026 via checked.be.