GARYNVEST: 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.
GARYNVEST
Largest movements
- Stocks and contracts -€871,362
down €871,362 (-86.9%), from €1.0m to €131,371
- Deferred charges and accrued income -€150,076
down €150,076 (-99.2%), from €151,227 to €1,151
- Cash +€130,268
up €130,268 (+46.5%), from €280,163 to €410,431
mainly Stocks and contracts (+€871,362) and Deferred charges and accrued income (+€150,076)
- Receivables within one year +€111,484
up €111,484 (+274.0%), from €40,693 to €152,177
of which Trade receivables: +€104,100
- Debts after one year -€891,485
down €891,485 (-97.5%), from €914,058 to €22,572
of which Financial debts: -€567,168
- Reserves +€60,000
up €60,000 (+58.9%), from €101,860 to €161,860
of which Distributable reserves: +€60,000
- Trade debts +€44,866
up €44,866 (+4841.8%), from €927 to €45,793
- Gross operating margin -€24,387
down €24,387 (-14.8%), from €164,465 to €140,078
- Financial charges -€18,850
down €18,850 (-47.0%), from €40,136 to €21,286
- Taxes +€6,723
up €6,723 (+28.5%), from €23,607 to €30,330
- Other operating charges -€2,627
down €2,627 (-22.0%), from €11,921 to €9,294
- Financial income -€2,543
down €2,543 (-70.1%), from €3,626 to €1,083
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 | €1,771,456 | €980,147 | -€791,309 | -44.7% |
| Fixed assets | 21/28 | €286,046 | €278,624 | -€7,422 | -2.6% |
| Tangible fixed assets | 22/27 | €272,816 | €265,394 | -€7,422 | -2.7% |
| Land and buildings | 22 | €269,280 | €262,116 | -€7,164 | -2.7% |
| Furniture and vehicles | 24 | €3,536 | €3,278 | -€258 | -7.3% |
| Financial fixed assets | 28 | €13,230 | €13,230 | = | 0.0% |
| Current assets | 29/58 | €1,485,410 | €701,523 | -€783,887 | -52.8% |
| Amounts receivable after more than one year | 29 | €10,595 | €6,394 | -€4,201 | -39.6% |
| Trade receivables | 290 | €10,595 | €6,394 | -€4,201 | -39.6% |
| Stocks and contracts in progress | 3 | €1,002,733 | €131,371 | -€871,362 | -86.9% |
| Stocks | 30/36 | €1,002,733 | €131,371 | -€871,362 | -86.9% |
| Amounts receivable within one year | 40/41 | €40,693 | €152,177 | +€111,484 | +274.0% |
| Trade receivables | 40 | €39,300 | €143,400 | +€104,100 | +264.9% |
| Other amounts receivable | 41 | €1,393 | €8,777 | +€7,384 | +530.2% |
| Cash at bank and in hand | 54/58 | €280,163 | €410,431 | +€130,268 | +46.5% |
| Deferred charges and accrued income | 490/1 | €151,227 | €1,151 | -€150,076 | -99.2% |
| Total equity and liabilities | 10/49 | €1,771,456 | €980,147 | -€791,309 | -44.7% |
| Equity | 10/15 | €799,550 | €871,520 | +€71,970 | +9.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,860 | €161,860 | +€60,000 | +58.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €160,000 | +€60,000 | +60.0% |
| Profit (loss) carried forward | 14 | €691,490 | €703,460 | +€11,970 | +1.7% |
| Amounts payable | 17/49 | €971,906 | €108,627 | -€863,279 | -88.8% |
| Amounts payable after more than one year | 17 | €914,058 | €22,572 | -€891,485 | -97.5% |
| Financial debts | 170/4 | €589,208 | €22,040 | -€567,168 | -96.3% |
| Other amounts payable | 178/9 | €324,850 | €532 | -€324,318 | -99.8% |
| Amounts payable within one year | 42/48 | €57,177 | €86,055 | +€28,878 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €27,777 | €13,065 | -€14,711 | -53.0% |
| Trade debts | 44 | €927 | €45,793 | +€44,866 | +4841.8% |
| Suppliers | 440/4 | €927 | €45,793 | +€44,866 | +4841.8% |
| Taxes, remuneration and social security | 45 | €27,663 | €26,445 | -€1,218 | -4.4% |
| Taxes | 450/3 | €27,663 | €26,445 | -€1,218 | -4.4% |
| Other amounts payable | 47/48 | €811 | €751 | -€59 | -7.3% |
| Accrued charges and deferred income | 492/3 | €671 | - | -€671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,750 | €8,281 | +€531 | +6.9% |
| Other operating charges | 640/8 | €11,921 | €9,294 | -€2,627 | -22.0% |
| Gross operating margin | 9900 | €164,465 | €140,078 | -€24,387 | -14.8% |
| Operating profit (loss) | 9901 | €144,794 | €122,503 | -€22,291 | -15.4% |
| Financial income | 75/76B | €3,626 | €1,083 | -€2,543 | -70.1% |
| Recurring financial income | 75 | €3,626 | €1,083 | -€2,543 | -70.1% |
| Financial charges | 65/66B | €40,136 | €21,286 | -€18,850 | -47.0% |
| Recurring financial charges | 65 | €40,136 | €21,286 | -€18,850 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €108,284 | €102,300 | -€5,984 | -5.5% |
| Income taxes | 67/77 | €23,607 | €30,330 | +€6,723 | +28.5% |
| Profit (loss) for the period | 9904 | €84,677 | €71,970 | -€12,706 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,677 | €71,970 | -€12,706 | -15.0% |
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 12 October 2026 via checked.be.