DE GALGENPUT: what changed
Two fiscal 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.
DE GALGENPUT
Largest movements
- Current investments -€208,473
down €208,473 (-6.9%), from €3.0m to €2.8m
- Receivables within one year -€193,811
down €193,811 (-15.3%), from €1.3m to €1.1m
of which Trade receivables: -€205,264
- Cash +€93,726
up €93,726 (+1903.1%), from €4,925 to €98,651
mainly Current investments (+€208,473) and Receivables within one year (+€193,811)
- Short-term financial debts -€256,127
no longer reported in 2025 (was €256,127)
- Debts after one year -€151,316
down €151,316 (-11.3%), from €1.3m to €1.2m
- Trade debts +€90,371
up €90,371 (+384.6%), from €23,495 to €113,866
- Gross operating margin -€176,596
down €176,596 (-52.6%), from €335,484 to €158,888
- Depreciation -€123,490
down €123,490 (-48.5%), from €254,395 to €130,905
- Financial charges -€55,025
down €55,025 (-45.4%), from €121,144 to €66,119
- Taxes -€23,168
down €23,168 (-71.6%), from €32,341 to €9,173
- Financial income +€13,828
up €13,828 (+14.8%), from €93,703 to €107,532
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 | €6,888,400 | €6,580,770 | -€307,630 | -4.5% |
| Fixed assets | 21/28 | €2,173,489 | €2,174,860 | +€1,370 | +0.1% |
| Tangible fixed assets | 22/27 | €2,173,489 | €2,174,860 | +€1,370 | +0.1% |
| Land and buildings | 22 | €1,993,560 | €2,029,630 | +€36,070 | +1.8% |
| Plant, machinery and equipment | 23 | €25,042 | €23,584 | -€1,458 | -5.8% |
| Furniture and vehicles | 24 | €91,687 | €76,568 | -€15,119 | -16.5% |
| Other tangible fixed assets | 26 | €63,200 | €45,078 | -€18,123 | -28.7% |
| Current assets | 29/58 | €4,714,911 | €4,405,911 | -€309,000 | -6.6% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €249,000 | €249,000 | = | 0.0% |
| Stocks | 30/36 | €249,000 | €249,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,265,755 | €1,071,944 | -€193,811 | -15.3% |
| Trade receivables | 40 | €869,175 | €663,912 | -€205,264 | -23.6% |
| Other amounts receivable | 41 | €396,580 | €408,032 | +€11,452 | +2.9% |
| Current investments | 50/53 | €3,018,047 | €2,809,574 | -€208,473 | -6.9% |
| Cash at bank and in hand | 54/58 | €4,925 | €98,651 | +€93,726 | +1903.1% |
| Deferred charges and accrued income | 490/1 | €2,184 | €1,742 | -€442 | -20.2% |
| Total equity and liabilities | 10/49 | €6,888,400 | €6,580,770 | -€307,630 | -4.5% |
| Equity | 10/15 | €5,110,748 | €5,161,570 | +€50,822 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,092,148 | €5,142,970 | +€50,822 | +1.0% |
| Distributable reserves | 133 | €5,092,148 | €5,142,970 | +€50,822 | +1.0% |
| Amounts payable | 17/49 | €1,777,652 | €1,419,200 | -€358,451 | -20.2% |
| Amounts payable after more than one year | 17 | €1,335,403 | €1,184,087 | -€151,316 | -11.3% |
| Financial debts | 170/4 | €1,335,403 | €1,184,087 | -€151,316 | -11.3% |
| Amounts payable within one year | 42/48 | €433,539 | €235,113 | -€198,426 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €74,207 | €92,316 | +€18,109 | +24.4% |
| Financial debts | 43 | €256,127 | - | -€256,127 | |
| Credit institutions | 430/8 | €256,127 | - | -€256,127 | |
| Trade debts | 44 | €23,495 | €113,866 | +€90,371 | +384.6% |
| Suppliers | 440/4 | €23,495 | €113,866 | +€90,371 | +384.6% |
| Taxes, remuneration and social security | 45 | €79,710 | €28,931 | -€50,779 | -63.7% |
| Taxes | 450/3 | €77,441 | €24,393 | -€53,048 | -68.5% |
| Remuneration and social security | 454/9 | €2,269 | €4,538 | +€2,269 | +100.0% |
| Accrued charges and deferred income | 492/3 | €8,709 | - | -€8,709 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €254,395 | €130,905 | -€123,490 | -48.5% |
| Other operating charges | 640/8 | €7,091 | €9,401 | +€2,310 | +32.6% |
| Gross operating margin | 9900 | €335,484 | €158,888 | -€176,596 | -52.6% |
| Operating profit (loss) | 9901 | €73,999 | €18,582 | -€55,416 | -74.9% |
| Financial income | 75/76B | €93,703 | €107,532 | +€13,828 | +14.8% |
| Recurring financial income | 75 | €93,703 | €107,532 | +€13,828 | +14.8% |
| Financial charges | 65/66B | €121,144 | €66,119 | -€55,025 | -45.4% |
| Recurring financial charges | 65 | €121,144 | €66,119 | -€55,025 | -45.4% |
| Profit (loss) for the period before taxes | 9903 | €46,558 | €59,995 | +€13,437 | +28.9% |
| Income taxes | 67/77 | €32,341 | €9,173 | -€23,168 | -71.6% |
| Profit (loss) for the period | 9904 | €14,217 | €50,822 | +€36,605 | +257.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,217 | €50,822 | +€36,605 | +257.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.