Les Garances: 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.
Les Garances
Largest movements
- Cash -€43,028
down €43,028 (-23.6%), from €182,410 to €139,382
mainly Tax, wage and social debts (-€50,675) and Investment in fixed assets (net) (-€28,500)
- Tangible fixed assets -€9,315
down €9,315 (-2.3%), from €399,994 to €390,679
of which Other tangible fixed assets: -€8,190
- Tax, wage and social debts -€50,675
down €50,675 (-23.9%), from €212,021 to €161,346
of which Taxes: -€49,011
- Trade debts +€29,968
up €29,968 (+219.5%), from €13,651 to €43,619
- Debts after one year -€17,492
down €17,492 (-8.4%), from €208,895 to €191,403
- Gross operating margin +€167,624
up €167,624 (+18.2%), from €921,956 to €1.1m
- Staff costs +€118,704
up €118,704 (+12.7%), from €935,310 to €1.1m
- Financial income -€48,730
down €48,730 (-76.0%), from €64,128 to €15,399
of which Non-recurring financial income: -€34,924
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 | €642,770 | €602,229 | -€40,542 | -6.3% |
| Fixed assets | 21/28 | €399,994 | €396,755 | -€3,239 | -0.8% |
| Intangible fixed assets | 21 | - | €6,076 | +€6,076 | |
| Tangible fixed assets | 22/27 | €399,994 | €390,679 | -€9,315 | -2.3% |
| Land and buildings | 22 | €379,063 | €379,704 | +€641 | +0.2% |
| Furniture and vehicles | 24 | €4,078 | €2,312 | -€1,766 | -43.3% |
| Other tangible fixed assets | 26 | €16,853 | €8,663 | -€8,190 | -48.6% |
| Current assets | 29/58 | €242,776 | €205,474 | -€37,303 | -15.4% |
| Amounts receivable within one year | 40/41 | €59,969 | €66,004 | +€6,035 | +10.1% |
| Trade receivables | 40 | €57,050 | €62,215 | +€5,165 | +9.1% |
| Other amounts receivable | 41 | €2,919 | €3,789 | +€870 | +29.8% |
| Cash at bank and in hand | 54/58 | €182,410 | €139,382 | -€43,028 | -23.6% |
| Deferred charges and accrued income | 490/1 | €397 | €88 | -€309 | -77.8% |
| Total equity and liabilities | 10/49 | €642,770 | €602,229 | -€40,542 | -6.3% |
| Equity | 10/15 | €190,965 | €188,368 | -€2,596 | -1.4% |
| Profit (loss) carried forward | 14 | €180,983 | €183,369 | +€2,386 | +1.3% |
| Investment grants | 15 | €9,982 | €4,999 | -€4,983 | -49.9% |
| Amounts payable | 17/49 | €451,806 | €413,860 | -€37,945 | -8.4% |
| Amounts payable after more than one year | 17 | €208,895 | €191,403 | -€17,492 | -8.4% |
| Financial debts | 170/4 | €208,895 | €191,403 | -€17,492 | -8.4% |
| Amounts payable within one year | 42/48 | €242,911 | €222,457 | -€20,453 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €17,239 | €17,492 | +€253 | +1.5% |
| Trade debts | 44 | €13,651 | €43,619 | +€29,968 | +219.5% |
| Suppliers | 440/4 | €13,651 | €43,619 | +€29,968 | +219.5% |
| Taxes, remuneration and social security | 45 | €212,021 | €161,346 | -€50,675 | -23.9% |
| Taxes | 450/3 | €75,242 | €26,231 | -€49,011 | -65.1% |
| Remuneration and social security | 454/9 | €136,779 | €135,115 | -€1,664 | -1.2% |
| Non-recurring operating income | 76A | - | €8,688 | +€8,688 | |
| Remuneration, social security and pensions | 62 | €935,310 | €1,054,013 | +€118,704 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,972 | €31,739 | -€1,233 | -3.7% |
| Other operating charges | 640/8 | €1,812 | €3,420 | +€1,608 | +88.7% |
| Gross operating margin | 9900 | €921,956 | €1,089,581 | +€167,624 | +18.2% |
| Operating profit (loss) | 9901 | -€48,138 | €408 | +€48,546 | |
| Financial income | 75/76B | €64,128 | €15,399 | -€48,730 | -76.0% |
| Recurring financial income | 75 | €21,093 | €7,288 | -€13,805 | -65.4% |
| Non-recurring financial income | 76B | €43,035 | €8,110 | -€34,924 | -81.2% |
| Financial charges | 65/66B | €22,690 | €12,995 | -€9,695 | -42.7% |
| Recurring financial charges | 65 | €22,690 | €12,995 | -€9,695 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,700 | €2,812 | +€9,511 | |
| Income taxes | 67/77 | €213 | €425 | +€213 | +100.0% |
| Profit (loss) for the period | 9904 | -€6,912 | €2,386 | +€9,299 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,912 | €2,386 | +€9,299 |
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 9 October 2026 via checked.be.