Garret: what changed
Two fiscal 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.
Garret
Largest movements
- Tangible fixed assets +€17,896
up €17,896 (+82.5%), from €21,697 to €39,592
of which Furniture and vehicles: +€21,083
- Receivables within one year +€11,405
up €11,405 (+627.3%), from €1,818 to €13,223
of which Trade receivables: +€11,583
- Cash +€3,209
up €3,209 (+4.5%), from €71,916 to €75,125
mainly Net result for the year (+€15,197) and Debts after one year (+€14,639)
- Debts after one year +€14,639
new in 2025: €14,639
- Current portion of long-term debt +€9,991
new in 2025: €9,991
- Reserves +€5,197
up €5,197 (+7.0%), from €74,443 to €79,640
- Tax, wage and social debts +€2,518
up €2,518 (+53.0%), from €4,749 to €7,266
- Gross operating margin -€17,731
down €17,731 (-34.8%), from €50,974 to €33,243
- Taxes -€4,822
down €4,822 (-53.1%), from €9,077 to €4,255
- Depreciation +€4,317
up €4,317 (+55.8%), from €7,739 to €12,056
- Other operating charges +€750
up €750 (+293.4%), from €256 to €1,005
- Financial charges +€646
up €646 (+772.0%), from €84 to €730
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.
Cash bridge derived
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 | €95,583 | €127,940 | +€32,358 | +33.9% |
| Fixed assets | 21/28 | €21,697 | €39,592 | +€17,896 | +82.5% |
| Tangible fixed assets | 22/27 | €21,697 | €39,592 | +€17,896 | +82.5% |
| Furniture and vehicles | 24 | €8,639 | €29,722 | +€21,083 | +244.0% |
| Other tangible fixed assets | 26 | €13,058 | €9,870 | -€3,187 | -24.4% |
| Current assets | 29/58 | €73,886 | €88,348 | +€14,462 | +19.6% |
| Amounts receivable within one year | 40/41 | €1,818 | €13,223 | +€11,405 | +627.3% |
| Trade receivables | 40 | €895 | €12,478 | +€11,583 | +1293.6% |
| Other amounts receivable | 41 | €923 | €745 | -€178 | -19.3% |
| Cash at bank and in hand | 54/58 | €71,916 | €75,125 | +€3,209 | +4.5% |
| Deferred charges and accrued income | 490/1 | €152 | €0 | -€152 | -100.0% |
| Total equity and liabilities | 10/49 | €95,583 | €127,940 | +€32,358 | +33.9% |
| Equity | 10/15 | €86,943 | €92,140 | +€5,197 | +6.0% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €74,443 | €79,640 | +€5,197 | +7.0% |
| Distributable reserves | 133 | €74,443 | €79,640 | +€5,197 | +7.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €8,640 | €35,801 | +€27,161 | +314.4% |
| Amounts payable after more than one year | 17 | - | €14,639 | +€14,639 | |
| Financial debts | 170/4 | - | €14,639 | +€14,639 | |
| Amounts payable within one year | 42/48 | €8,640 | €21,161 | +€12,521 | +144.9% |
| Current portion of amounts payable after more than one year | 42 | - | €9,991 | +€9,991 | |
| Trade debts | 44 | €1,182 | €1,350 | +€167 | +14.2% |
| Suppliers | 440/4 | €1,182 | €1,350 | +€167 | +14.2% |
| Taxes, remuneration and social security | 45 | €4,749 | €7,266 | +€2,518 | +53.0% |
| Taxes | 450/3 | €4,749 | €7,266 | +€2,518 | +53.0% |
| Other amounts payable | 47/48 | €2,709 | €2,554 | -€155 | -5.7% |
| Non-recurring operating income | 76A | - | €3,394 | +€3,394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,739 | €12,056 | +€4,317 | +55.8% |
| Other operating charges | 640/8 | €256 | €1,005 | +€750 | +293.4% |
| Gross operating margin | 9900 | €50,974 | €33,243 | -€17,731 | -34.8% |
| Operating profit (loss) | 9901 | €42,979 | €20,182 | -€22,798 | -53.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €84 | €730 | +€646 | +772.0% |
| Recurring financial charges | 65 | €84 | €730 | +€646 | +772.0% |
| Profit (loss) for the period before taxes | 9903 | €42,897 | €19,452 | -€23,445 | -54.7% |
| Income taxes | 67/77 | €9,077 | €4,255 | -€4,822 | -53.1% |
| Profit (loss) for the period | 9904 | €33,820 | €15,197 | -€18,622 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,820 | €15,197 | -€18,622 | -55.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.