LA GARNERIE: 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.
LA GARNERIE
Largest movements
- Receivables within one year +€88,015
up €88,015 (+114%), from €77,304 to €165,319
of which Trade receivables: +€87,034
- Cash +€82,161
up €82,161 (+139%), from €59,102 to €141,262
mainly Net result for the year (+€74,207) and Advances received (+€61,162)
- Tangible fixed assets -€13,123
down €13,123 (-8.0%), from €163,407 to €150,284
of which Furniture and vehicles: -€19,256
- Advances received +€61,162
up €61,162, from €0 to €61,162
- Tax, wage and social debts +€50,580
up €50,580 (+96.3%), from €52,499 to €103,079
of which Taxes: +€47,370
- Reserves +€49,707
up €49,707 (+47.2%), from €105,310 to €155,017
of which Distributable reserves: +€49,707
- Accrued charges and deferred income +€40,313
new in 2025: €40,313
- Debts after one year -€15,628
down €15,628 (-30.3%), from €51,637 to €36,009
- Gross operating margin +€39,547
up €39,547 (+20.8%), from €189,956 to €229,503
- Taxes +€13,249
up €13,249 (+90.5%), from €14,636 to €27,885
- Staff costs +€4,538
up €4,538 (+5.1%), from €89,389 to €93,927
- Write-downs -€3,787
down €3,787, from €3,621 to -€166
- Depreciation +€3,419
up €3,419 (+17.3%), from €19,790 to €23,209
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 | €487,686 | €643,006 | +€155,320 | +31.8% |
| Fixed assets | 21/28 | €223,407 | €210,284 | -€13,123 | -5.9% |
| Tangible fixed assets | 22/27 | €163,407 | €150,284 | -€13,123 | -8.0% |
| Land and buildings | 22 | €106,794 | €113,128 | +€6,334 | +5.9% |
| Plant, machinery and equipment | 23 | €3,664 | €3,463 | -€201 | -5.5% |
| Furniture and vehicles | 24 | €52,949 | €33,693 | -€19,256 | -36.4% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €264,279 | €432,721 | +€168,442 | +63.7% |
| Stocks and contracts in progress | 3 | €127,158 | €121,284 | -€5,874 | -4.6% |
| Stocks | 30/36 | €127,158 | €121,284 | -€5,874 | -4.6% |
| Amounts receivable within one year | 40/41 | €77,304 | €165,319 | +€88,015 | +114% |
| Trade receivables | 40 | €75,570 | €162,604 | +€87,034 | +115% |
| Other amounts receivable | 41 | €1,734 | €2,715 | +€981 | +56.6% |
| Current investments | 50/53 | €79 | €79 | +€0 | +0.4% |
| Cash at bank and in hand | 54/58 | €59,102 | €141,262 | +€82,161 | +139% |
| Deferred charges and accrued income | 490/1 | €637 | €4,777 | +€4,141 | +650% |
| Total equity and liabilities | 10/49 | €487,686 | €643,006 | +€155,320 | +31.8% |
| Equity | 10/15 | €171,269 | €220,520 | +€49,251 | +28.8% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €105,310 | €155,017 | +€49,707 | +47.2% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,905 | €2,905 | = | 0.0% |
| Distributable reserves | 133 | €96,155 | €145,861 | +€49,707 | +51.7% |
| Profit (loss) carried forward | 14 | €1,635 | €1,635 | = | 0.0% |
| Investment grants | 15 | €1,824 | €1,368 | -€456 | -25.0% |
| Amounts payable | 17/49 | €316,417 | €422,486 | +€106,069 | +33.5% |
| Amounts payable after more than one year | 17 | €51,637 | €36,009 | -€15,628 | -30.3% |
| Financial debts | 170/4 | €51,637 | €36,009 | -€15,628 | -30.3% |
| Amounts payable within one year | 42/48 | €264,779 | €346,163 | +€81,384 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €19,190 | €15,628 | -€3,561 | -18.6% |
| Financial debts | 43 | €3,653 | €722 | -€2,931 | -80.2% |
| Credit institutions | 430/8 | €3,653 | €722 | -€2,931 | -80.2% |
| Trade debts | 44 | €81,441 | €65,929 | -€15,512 | -19.0% |
| Suppliers | 440/4 | €81,441 | €65,929 | -€15,512 | -19.0% |
| Advances received on contracts in progress | 46 | €0 | €61,162 | +€61,162 | |
| Taxes, remuneration and social security | 45 | €52,499 | €103,079 | +€50,580 | +96.3% |
| Taxes | 450/3 | €38,009 | €85,379 | +€47,370 | +125% |
| Remuneration and social security | 454/9 | €14,490 | €17,699 | +€3,209 | +22.1% |
| Other amounts payable | 47/48 | €107,997 | €99,643 | -€8,353 | -7.7% |
| Accrued charges and deferred income | 492/3 | - | €40,313 | +€40,313 | |
| Remuneration, social security and pensions | 62 | €89,389 | €93,927 | +€4,538 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,790 | €23,209 | +€3,419 | +17.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,621 | -€166 | -€3,787 | |
| Other operating charges | 640/8 | €4,501 | €5,857 | +€1,356 | +30.1% |
| Gross operating margin | 9900 | €189,956 | €229,503 | +€39,547 | +20.8% |
| Operating profit (loss) | 9901 | €72,655 | €106,676 | +€34,021 | +46.8% |
| Financial income | 75/76B | €456 | €675 | +€219 | +47.9% |
| Recurring financial income | 75 | €456 | €675 | +€219 | +47.9% |
| Financial charges | 65/66B | €2,381 | €5,259 | +€2,878 | +121% |
| Recurring financial charges | 65 | €2,381 | €5,259 | +€2,878 | +121% |
| Profit (loss) for the period before taxes | 9903 | €70,730 | €102,092 | +€31,361 | +44.3% |
| Income taxes | 67/77 | €14,636 | €27,885 | +€13,249 | +90.5% |
| Profit (loss) for the period | 9904 | €56,094 | €74,207 | +€18,113 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €56,094 | €74,207 | +€18,113 | +32.3% |
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 16 October 2026 via checked.be.