De Galjaar: 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.
De Galjaar
Largest movements
- Tangible fixed assets +€68,331
up €68,331 (+11.8%), from €577,333 to €645,664
of which Plant, machinery and equipment: +€88,217
- Cash -€20,543
down €20,543 (-73.9%), from €27,796 to €7,254
mainly Investment in fixed assets (net) (-€112,573) and Other debts (-€25,784)
- Debts after one year +€54,210
up €54,210 (+10.8%), from €503,332 to €557,543
- Other debts -€25,784
down €25,784 (-28.6%), from €90,058 to €64,274
- Current portion of long-term debt +€10,239
up €10,239 (+20.9%), from €49,025 to €59,264
- Profit (loss) carried forward +€7,955
up €7,955 (+11.4%), from -€69,981 to -€62,026
- Gross operating margin -€97,831
down €97,831 (-57.5%), from €170,169 to €72,338
- Staff costs -€80,759
down €80,759 (-97.3%), from €83,013 to €2,255
- Depreciation -€30,834
down €30,834 (-41.1%), from €75,076 to €44,242
- Financial charges +€3,609
up €3,609 (+36.6%), from €9,854 to €13,463
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 | €670,325 | €717,488 | +€47,163 | +7.0% |
| Fixed assets | 21/28 | €578,183 | €646,514 | +€68,331 | +11.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €577,333 | €645,664 | +€68,331 | +11.8% |
| Land and buildings | 22 | €370,540 | €352,797 | -€17,744 | -4.8% |
| Plant, machinery and equipment | 23 | €195,124 | €283,341 | +€88,217 | +45.2% |
| Furniture and vehicles | 24 | €11,669 | €9,526 | -€2,143 | -18.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €92,142 | €70,974 | -€21,168 | -23.0% |
| Amounts receivable within one year | 40/41 | €63,824 | €61,324 | -€2,500 | -3.9% |
| Trade receivables | 40 | €63,794 | €61,319 | -€2,474 | -3.9% |
| Other amounts receivable | 41 | €31 | €5 | -€26 | -84.7% |
| Cash at bank and in hand | 54/58 | €27,796 | €7,254 | -€20,543 | -73.9% |
| Deferred charges and accrued income | 490/1 | €521 | €2,396 | +€1,875 | +360% |
| Total equity and liabilities | 10/49 | €670,325 | €717,488 | +€47,163 | +7.0% |
| Equity | 10/15 | €12,979 | €20,935 | +€7,955 | +61.3% |
| Contributions | 10/11 | €66,200 | €66,200 | = | 0.0% |
| Reserves | 13 | €16,760 | €16,760 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,560 | €1,560 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,560 | €1,560 | = | 0.0% |
| Distributable reserves | 133 | €15,200 | €15,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,981 | -€62,026 | +€7,955 | +11.4% |
| Amounts payable | 17/49 | €657,345 | €696,553 | +€39,207 | +6.0% |
| Amounts payable after more than one year | 17 | €503,332 | €557,543 | +€54,210 | +10.8% |
| Financial debts | 170/4 | €503,332 | €557,543 | +€54,210 | +10.8% |
| Amounts payable within one year | 42/48 | €154,013 | €139,010 | -€15,003 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €49,025 | €59,264 | +€10,239 | +20.9% |
| Trade debts | 44 | €5,380 | €4,571 | -€809 | -15.0% |
| Suppliers | 440/4 | €5,380 | €4,571 | -€809 | -15.0% |
| Taxes, remuneration and social security | 45 | €9,550 | €10,901 | +€1,351 | +14.1% |
| Taxes | 450/3 | €9,550 | €10,901 | +€1,351 | +14.1% |
| Other amounts payable | 47/48 | €90,058 | €64,274 | -€25,784 | -28.6% |
| Remuneration, social security and pensions | 62 | €83,013 | €2,255 | -€80,759 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,076 | €44,242 | -€30,834 | -41.1% |
| Other operating charges | 640/8 | €3,596 | €3,798 | +€202 | +5.6% |
| Non-recurring operating charges | 66A | €13,799 | €640 | -€13,159 | -95.4% |
| Gross operating margin | 9900 | €170,169 | €72,338 | -€97,831 | -57.5% |
| Operating profit (loss) | 9901 | -€5,315 | €21,403 | +€26,718 | |
| Financial income | 75/76B | €143 | €16 | -€127 | -89.1% |
| Recurring financial income | 75 | €143 | €16 | -€127 | -89.1% |
| Financial charges | 65/66B | €9,854 | €13,463 | +€3,609 | +36.6% |
| Recurring financial charges | 65 | €9,854 | €13,463 | +€3,609 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,027 | €7,955 | +€22,982 | |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€15,027 | €7,955 | +€22,982 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,027 | €7,955 | +€22,982 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.