GARONA: 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.
GARONA
Largest movements
- Receivables within one year +€25,747
up €25,747 (+18.4%), from €140,172 to €165,919
of which Trade receivables: +€28,882
- Cash -€9,420
down €9,420 (-13.3%), from €70,686 to €61,266
mainly Receivables within one year (-€25,747) and Net result for the year (-€11,559)
- Tangible fixed assets -€5,016
down €5,016 (-6.6%), from €75,900 to €70,884
of which Plant, machinery and equipment: -€4,632
- Profit (loss) carried forward -€11,558
down €11,558 (-17.0%), from €68,007 to €56,449
- Tax, wage and social debts +€8,854
up €8,854 (+29.6%), from €29,912 to €38,766
of which Taxes: +€6,326
- Other debts +€8,149
up €8,149 (+29.6%), from €27,531 to €35,680
- Trade debts +€5,866
up €5,866 (+7.8%), from €74,883 to €80,749
- Other operating charges +€20,125
up €20,125 (+367%), from €5,477 to €25,602
- Staff costs +€10,934
up €10,934 (+66.1%), from €16,537 to €27,471
- Gross operating margin +€7,489
up €7,489 (+11.8%), from €63,221 to €70,710
- Taxes -€4,093
down €4,093 (-24.2%), from €16,881 to €12,788
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.
Derived cash bridge
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 | €287,083 | €298,394 | +€11,311 | +3.9% |
| Fixed assets | 21/28 | €76,225 | €71,209 | -€5,016 | -6.6% |
| Tangible fixed assets | 22/27 | €75,900 | €70,884 | -€5,016 | -6.6% |
| Land and buildings | 22 | €69,622 | €67,641 | -€1,981 | -2.8% |
| Plant, machinery and equipment | 23 | €5,987 | €1,355 | -€4,632 | -77.4% |
| Furniture and vehicles | 24 | €291 | €1,888 | +€1,597 | +549% |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €210,858 | €227,185 | +€16,327 | +7.7% |
| Amounts receivable within one year | 40/41 | €140,172 | €165,919 | +€25,747 | +18.4% |
| Trade receivables | 40 | €87,603 | €116,485 | +€28,882 | +33.0% |
| Other amounts receivable | 41 | €52,569 | €49,433 | -€3,136 | -6.0% |
| Cash at bank and in hand | 54/58 | €70,686 | €61,266 | -€9,420 | -13.3% |
| Total equity and liabilities | 10/49 | €287,083 | €298,394 | +€11,311 | +3.9% |
| Equity | 10/15 | €74,757 | €63,199 | -€11,558 | -15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €550 | €550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €550 | €550 | = | 0.0% |
| Reserves not available under the articles | 1311 | €550 | €550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,007 | €56,449 | -€11,558 | -17.0% |
| Amounts payable | 17/49 | €212,326 | €235,195 | +€22,869 | +10.8% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €132,326 | €155,195 | +€22,869 | +17.3% |
| Trade debts | 44 | €74,883 | €80,749 | +€5,866 | +7.8% |
| Suppliers | 440/4 | €74,883 | €80,749 | +€5,866 | +7.8% |
| Taxes, remuneration and social security | 45 | €29,912 | €38,766 | +€8,854 | +29.6% |
| Taxes | 450/3 | €22,791 | €29,117 | +€6,326 | +27.8% |
| Remuneration and social security | 454/9 | €7,121 | €9,649 | +€2,528 | +35.5% |
| Other amounts payable | 47/48 | €27,531 | €35,680 | +€8,149 | +29.6% |
| Remuneration, social security and pensions | 62 | €16,537 | €27,471 | +€10,934 | +66.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,420 | €7,200 | -€220 | -3.0% |
| Other operating charges | 640/8 | €5,477 | €25,602 | +€20,125 | +367% |
| Gross operating margin | 9900 | €63,221 | €70,710 | +€7,489 | +11.8% |
| Operating profit (loss) | 9901 | €33,787 | €10,437 | -€23,350 | -69.1% |
| Financial charges | 65/66B | €9,672 | €9,207 | -€465 | -4.8% |
| Recurring financial charges | 65 | €9,672 | €9,207 | -€465 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €24,115 | €1,230 | -€22,885 | -94.9% |
| Income taxes | 67/77 | €16,881 | €12,788 | -€4,093 | -24.2% |
| Profit (loss) for the period | 9904 | €7,234 | -€11,559 | -€18,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,234 | -€11,559 | -€18,793 |
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 25 October 2026 via checked.be.