GARSIAL TRADE: 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.
GARSIAL TRADE
Largest movements
- Receivables within one year -€26,005
down €26,005 (-99.8%), from €26,056 to €51
of which Trade receivables: -€26,026
- Tangible fixed assets -€14,584
down €14,584 (-32.6%), from €44,755 to €30,172
of which Other tangible fixed assets: -€10,767
- Financial fixed assets -€8,819
no longer reported in 2025 (was €8,819)
- Trade debts -€27,762
down €27,762 (-95.3%), from €29,128 to €1,365
- Profit (loss) carried forward -€23,730
down €23,730 (-49.8%), from -€47,663 to -€71,393
- Debts after one year +€12,350
up €12,350 (+22.5%), from €54,912 to €67,262
- Current portion of long-term debt -€8,224
no longer reported in 2025 (was €8,224)
- Other debts -€2,959
down €2,959 (-25.6%), from €11,555 to €8,596
- Staff costs -€6,685
no longer reported in 2025 (was €6,685)
- Financial charges +€3,206
up €3,206 (+98.9%), from €3,242 to €6,448
- Depreciation -€2,210
down €2,210 (-13.2%), from €16,793 to €14,584
- Gross operating margin -€502
down €502 (-27.7%), from -€1,811 to -€2,313
- Other operating charges -€61
down €61 (-12.7%), from €478 to €418
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,630 | €30,223 | -€49,407 | -62.0% |
| Fixed assets | 21/28 | €53,575 | €30,172 | -€23,403 | -43.7% |
| Tangible fixed assets | 22/27 | €44,755 | €30,172 | -€14,584 | -32.6% |
| Plant, machinery and equipment | 23 | €1,647 | - | -€1,647 | |
| Furniture and vehicles | 24 | €2,210 | €41 | -€2,170 | -98.2% |
| Other tangible fixed assets | 26 | €40,898 | €30,131 | -€10,767 | -26.3% |
| Financial fixed assets | 28 | €8,819 | - | -€8,819 | |
| Current assets | 29/58 | €26,056 | €51 | -€26,005 | -99.8% |
| Amounts receivable within one year | 40/41 | €26,056 | €51 | -€26,005 | -99.8% |
| Trade receivables | 40 | €26,026 | - | -€26,026 | |
| Other amounts receivable | 41 | €29 | €51 | +€22 | +74.1% |
| Total equity and liabilities | 10/49 | €79,630 | €30,223 | -€49,407 | -62.0% |
| Equity | 10/15 | -€29,063 | -€52,793 | -€23,730 | -81.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,663 | -€71,393 | -€23,730 | -49.8% |
| Amounts payable | 17/49 | €108,693 | €83,016 | -€25,677 | -23.6% |
| Amounts payable after more than one year | 17 | €54,912 | €67,262 | +€12,350 | +22.5% |
| Financial debts | 170/4 | €54,912 | €67,262 | +€12,350 | +22.5% |
| Amounts payable within one year | 42/48 | €53,781 | €15,753 | -€38,028 | -70.7% |
| Current portion of amounts payable after more than one year | 42 | €8,224 | - | -€8,224 | |
| Financial debts | 43 | €1,462 | €3,347 | +€1,884 | +129% |
| Credit institutions | 430/8 | €1,462 | €3,347 | +€1,884 | +129% |
| Trade debts | 44 | €29,128 | €1,365 | -€27,762 | -95.3% |
| Suppliers | 440/4 | €29,128 | €1,365 | -€27,762 | -95.3% |
| Taxes, remuneration and social security | 45 | €3,412 | €2,445 | -€967 | -28.3% |
| Taxes | 450/3 | €3,412 | €2,445 | -€967 | -28.3% |
| Other amounts payable | 47/48 | €11,555 | €8,596 | -€2,959 | -25.6% |
| Remuneration, social security and pensions | 62 | €6,685 | - | -€6,685 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,793 | €14,584 | -€2,210 | -13.2% |
| Other operating charges | 640/8 | €478 | €418 | -€61 | -12.7% |
| Gross operating margin | 9900 | -€1,811 | -€2,313 | -€502 | -27.7% |
| Operating profit (loss) | 9901 | -€25,767 | -€17,314 | +€8,453 | +32.8% |
| Financial income | 75/76B | €0 | €32 | +€32 | +31,680% |
| Recurring financial income | 75 | €0 | €32 | +€32 | +31,680% |
| Financial charges | 65/66B | €3,242 | €6,448 | +€3,206 | +98.9% |
| Recurring financial charges | 65 | €3,242 | €6,448 | +€3,206 | +98.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,008 | -€23,730 | +€5,278 | +18.2% |
| Profit (loss) for the period | 9904 | -€29,008 | -€23,730 | +€5,278 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,008 | -€23,730 | +€5,278 | +18.2% |
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 28 October 2026 via checked.be.