GARUKA: 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.
GARUKA
Largest movements
- Receivables within one year -€131,060
down €131,060 (-43.1%), from €304,261 to €173,201
of which Other amounts receivable: -€148,004
- Cash +€11,267
up €11,267 (+99.6%), from €11,308 to €22,575
mainly Receivables within one year (+€131,060) and Net result for the year (+€79,923)
- Tangible fixed assets -€10,124
down €10,124 (-24.5%), from €41,285 to €31,161
- Reserves -€100,077
down €100,077 (-34.1%), from €293,730 to €193,653
- Tax, wage and social debts -€33,004
down €33,004 (-97.8%), from €33,756 to €752
- Other debts +€19,400
up €19,400 (+3233.3%), from €600 to €20,000
- Debts after one year -€11,212
down €11,212 (-74.3%), from €15,085 to €3,874
- Trade debts -€8,170
down €8,170 (-95.5%), from €8,557 to €387
- Gross operating margin -€22,963
down €22,963 (-17.0%), from €134,981 to €112,018
- Taxes -€6,700
down €6,700 (-19.8%), from €33,756 to €27,056
- Depreciation +€5,045
up €5,045 (+77.9%), from €6,474 to €11,520
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 | €362,577 | €230,105 | -€132,472 | -36.5% |
| Fixed assets | 21/28 | €41,285 | €31,161 | -€10,124 | -24.5% |
| Tangible fixed assets | 22/27 | €41,285 | €31,161 | -€10,124 | -24.5% |
| Furniture and vehicles | 24 | €41,285 | €31,161 | -€10,124 | -24.5% |
| Current assets | 29/58 | €321,292 | €198,944 | -€122,348 | -38.1% |
| Amounts receivable within one year | 40/41 | €304,261 | €173,201 | -€131,060 | -43.1% |
| Trade receivables | 40 | €813 | €17,756 | +€16,943 | +2084.8% |
| Other amounts receivable | 41 | €303,448 | €155,444 | -€148,004 | -48.8% |
| Cash at bank and in hand | 54/58 | €11,308 | €22,575 | +€11,267 | +99.6% |
| Deferred charges and accrued income | 490/1 | €5,723 | €3,169 | -€2,554 | -44.6% |
| Total equity and liabilities | 10/49 | €362,577 | €230,105 | -€132,472 | -36.5% |
| Equity | 10/15 | €293,830 | €193,753 | -€100,077 | -34.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €293,730 | €193,653 | -€100,077 | -34.1% |
| Distributable reserves | 133 | €293,730 | €193,653 | -€100,077 | -34.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €68,746 | €36,352 | -€32,394 | -47.1% |
| Amounts payable after more than one year | 17 | €15,085 | €3,874 | -€11,212 | -74.3% |
| Financial debts | 170/4 | €15,085 | €3,874 | -€11,212 | -74.3% |
| Amounts payable within one year | 42/48 | €53,537 | €32,350 | -€21,187 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €10,625 | €11,212 | +€587 | +5.5% |
| Trade debts | 44 | €8,557 | €387 | -€8,170 | -95.5% |
| Suppliers | 440/4 | €8,557 | €387 | -€8,170 | -95.5% |
| Taxes, remuneration and social security | 45 | €33,756 | €752 | -€33,004 | -97.8% |
| Taxes | 450/3 | €33,756 | €752 | -€33,004 | -97.8% |
| Other amounts payable | 47/48 | €600 | €20,000 | +€19,400 | +3233.3% |
| Accrued charges and deferred income | 492/3 | €124 | €128 | +€4 | +3.4% |
| Non-recurring operating income | 76A | €5 | €0 | -€5 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,474 | €11,520 | +€5,045 | +77.9% |
| Other operating charges | 640/8 | €747 | €753 | +€6 | +0.7% |
| Gross operating margin | 9900 | €134,981 | €112,018 | -€22,963 | -17.0% |
| Operating profit (loss) | 9901 | €127,759 | €99,745 | -€28,014 | -21.9% |
| Financial income | 75/76B | €8,534 | €8,494 | -€40 | -0.5% |
| Recurring financial income | 75 | €8,534 | €8,494 | -€40 | -0.5% |
| Financial charges | 65/66B | €1,271 | €1,260 | -€11 | -0.8% |
| Recurring financial charges | 65 | €1,271 | €1,260 | -€11 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €135,022 | €106,978 | -€28,044 | -20.8% |
| Income taxes | 67/77 | €33,756 | €27,056 | -€6,700 | -19.8% |
| Profit (loss) for the period | 9904 | €101,267 | €79,923 | -€21,344 | -21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €101,267 | €79,923 | -€21,344 | -21.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.