MARGAUX GARNIER: 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.
MARGAUX GARNIER
Largest movements
- Cash +€26,424
up €26,424 (+603%), from €4,384 to €30,808
mainly Net result for the year (+€42,792) and Other debts (+€16,787)
- Receivables within one year -€5,463
down €5,463 (-35.5%), from €15,408 to €9,944
of which Other amounts receivable: -€4,784
- Tangible fixed assets -€1,120
down €1,120 (-6.5%), from €17,118 to €15,998
- Other debts +€16,787
up €16,787 (+353%), from €4,758 to €21,545
- Reserves +€13,792
up €13,792 (+30.1%), from €45,812 to €59,604
- Current portion of long-term debt -€5,302
down €5,302 (-83.3%), from €6,363 to €1,061
- Tax, wage and social debts -€4,561
down €4,561 (-45.9%), from €9,940 to €5,378
of which Remuneration and social security: -€7,300
- Debts after one year -€1,061
down €1,061 (-100%), from €1,061 to €0
- Gross operating margin +€62,679
up €62,679, from -€5,703 to €56,976
- Taxes +€3,767
up €3,767 (+2,700%), from €140 to €3,907
- Depreciation +€707
up €707 (+8.7%), from €8,146 to €8,853
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 | €37,130 | €56,965 | +€19,835 | +53.4% |
| Fixed assets | 21/28 | €17,118 | €15,998 | -€1,120 | -6.5% |
| Tangible fixed assets | 22/27 | €17,118 | €15,998 | -€1,120 | -6.5% |
| Furniture and vehicles | 24 | €17,118 | €15,998 | -€1,120 | -6.5% |
| Current assets | 29/58 | €20,013 | €40,967 | +€20,955 | +105% |
| Amounts receivable within one year | 40/41 | €15,408 | €9,944 | -€5,463 | -35.5% |
| Trade receivables | 40 | €8,531 | €7,851 | -€680 | -8.0% |
| Other amounts receivable | 41 | €6,877 | €2,093 | -€4,784 | -69.6% |
| Cash at bank and in hand | 54/58 | €4,384 | €30,808 | +€26,424 | +603% |
| Deferred charges and accrued income | 490/1 | €220 | €215 | -€5 | -2.5% |
| Total equity and liabilities | 10/49 | €37,130 | €56,965 | +€19,835 | +53.4% |
| Equity | 10/15 | €13,843 | €27,635 | +€13,792 | +99.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €45,812 | €59,604 | +€13,792 | +30.1% |
| Distributable reserves | 133 | €45,812 | €59,604 | +€13,792 | +30.1% |
| Profit (loss) carried forward | 14 | -€35,969 | -€35,969 | = | 0.0% |
| Amounts payable | 17/49 | €23,287 | €29,330 | +€6,043 | +25.9% |
| Amounts payable after more than one year | 17 | €1,061 | €0 | -€1,061 | -100% |
| Financial debts | 170/4 | €1,061 | €0 | -€1,061 | -100% |
| Amounts payable within one year | 42/48 | €22,227 | €29,330 | +€7,103 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €6,363 | €1,061 | -€5,302 | -83.3% |
| Trade debts | 44 | €1,166 | €1,346 | +€180 | +15.5% |
| Suppliers | 440/4 | €1,166 | €1,346 | +€180 | +15.5% |
| Taxes, remuneration and social security | 45 | €9,940 | €5,378 | -€4,561 | -45.9% |
| Taxes | 450/3 | €2,640 | €5,378 | +€2,739 | +104% |
| Remuneration and social security | 454/9 | €7,300 | €0 | -€7,300 | -100% |
| Other amounts payable | 47/48 | €4,758 | €21,545 | +€16,787 | +353% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,146 | €8,853 | +€707 | +8.7% |
| Other operating charges | 640/8 | €1,070 | €1,309 | +€239 | +22.4% |
| Gross operating margin | 9900 | -€5,703 | €56,976 | +€62,679 | |
| Operating profit (loss) | 9901 | -€14,919 | €46,814 | +€61,732 | |
| Financial charges | 65/66B | €128 | €115 | -€13 | -9.9% |
| Recurring financial charges | 65 | €128 | €115 | -€13 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,046 | €46,699 | +€61,745 | |
| Income taxes | 67/77 | €140 | €3,907 | +€3,767 | +2,700% |
| Profit (loss) for the period | 9904 | -€15,186 | €42,792 | +€57,978 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,186 | €42,792 | +€57,978 |
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 28 October 2026 via checked.be.