Happy Garden: 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.
Happy Garden
Largest movements
- Cash -€26,584
down €26,584 (-22.5%), from €118,290 to €91,706
mainly Deferred charges and accrued income (-€13,076) and Debts after one year (-€12,269)
- Tangible fixed assets -€15,398
down €15,398 (-34.6%), from €44,452 to €29,054
of which Furniture and vehicles: -€13,790
- Deferred charges and accrued income +€13,076
new in 2025: €13,076
- Receivables within one year +€8,860
up €8,860 (+886%), from €1,000 to €9,860
of which Trade receivables: +€5,743
- Debts after one year -€12,269
down €12,269 (-47.4%), from €25,910 to €13,640
- Tax, wage and social debts -€4,958
down €4,958 (-79.1%), from €6,268 to €1,310
- Trade debts -€3,486
down €3,486 (-77.0%), from €4,527 to €1,042
- Reserves +€1,983
up €1,983 (+1.9%), from €106,216 to €108,198
of which Distributable reserves: +€1,983
- Other debts -€1,917
no longer reported in 2025 (was €1,917)
- Gross operating margin -€49,312
down €49,312 (-57.4%), from €85,868 to €36,556
- Taxes -€20,195
down €20,195 (-95.8%), from €21,079 to €884
- Staff costs -€6,347
down €6,347 (-43.9%), from €14,443 to €8,096
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 | €166,806 | €146,460 | -€20,346 | -12.2% |
| Fixed assets | 21/28 | €46,452 | €30,054 | -€16,398 | -35.3% |
| Intangible fixed assets | 21 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Tangible fixed assets | 22/27 | €44,452 | €29,054 | -€15,398 | -34.6% |
| Plant, machinery and equipment | 23 | €3,083 | €1,474 | -€1,609 | -52.2% |
| Furniture and vehicles | 24 | €41,369 | €27,579 | -€13,790 | -33.3% |
| Current assets | 29/58 | €120,354 | €116,406 | -€3,948 | -3.3% |
| Stocks and contracts in progress | 3 | €1,064 | €1,765 | +€701 | +65.9% |
| Stocks | 30/36 | €1,064 | €1,765 | +€701 | +65.9% |
| Amounts receivable within one year | 40/41 | €1,000 | €9,860 | +€8,860 | +886% |
| Trade receivables | 40 | €1,000 | €6,743 | +€5,743 | +574% |
| Other amounts receivable | 41 | - | €3,116 | +€3,116 | |
| Cash at bank and in hand | 54/58 | €118,290 | €91,706 | -€26,584 | -22.5% |
| Deferred charges and accrued income | 490/1 | - | €13,076 | +€13,076 | |
| Total equity and liabilities | 10/49 | €166,806 | €146,460 | -€20,346 | -12.2% |
| Equity | 10/15 | €116,216 | €118,198 | +€1,983 | +1.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €106,216 | €108,198 | +€1,983 | +1.9% |
| Non-distributable reserves | 130/1 | €900 | €900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €900 | €900 | = | 0.0% |
| Distributable reserves | 133 | €105,316 | €107,298 | +€1,983 | +1.9% |
| Amounts payable | 17/49 | €50,590 | €28,262 | -€22,329 | -44.1% |
| Amounts payable after more than one year | 17 | €25,910 | €13,640 | -€12,269 | -47.4% |
| Financial debts | 170/4 | €25,910 | €13,640 | -€12,269 | -47.4% |
| Amounts payable within one year | 42/48 | €24,680 | €14,621 | -€10,059 | -40.8% |
| Current portion of amounts payable after more than one year | 42 | €11,968 | €12,269 | +€301 | +2.5% |
| Trade debts | 44 | €4,527 | €1,042 | -€3,486 | -77.0% |
| Suppliers | 440/4 | €4,527 | €1,042 | -€3,486 | -77.0% |
| Taxes, remuneration and social security | 45 | €6,268 | €1,310 | -€4,958 | -79.1% |
| Taxes | 450/3 | €6,268 | €1,310 | -€4,958 | -79.1% |
| Other amounts payable | 47/48 | €1,917 | - | -€1,917 | |
| Remuneration, social security and pensions | 62 | €14,443 | €8,096 | -€6,347 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,398 | €16,398 | = | 0.0% |
| Other operating charges | 640/8 | €6,942 | €7,691 | +€749 | +10.8% |
| Gross operating margin | 9900 | €85,868 | €36,556 | -€49,312 | -57.4% |
| Operating profit (loss) | 9901 | €48,084 | €4,371 | -€43,713 | -90.9% |
| Financial charges | 65/66B | €1,827 | €1,505 | -€323 | -17.7% |
| Recurring financial charges | 65 | €1,827 | €1,505 | -€323 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €46,257 | €2,866 | -€43,390 | -93.8% |
| Income taxes | 67/77 | €21,079 | €884 | -€20,195 | -95.8% |
| Profit (loss) for the period | 9904 | €25,178 | €1,983 | -€23,195 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,178 | €1,983 | -€23,195 | -92.1% |
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 29 October 2026 via checked.be.