ETS GALIOTTO: 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.
ETS GALIOTTO
Largest movements
- Cash +€25,250
up €25,250 (+46.3%), from €54,531 to €79,781
mainly Receivables within one year (+€21,324) and Net result for the year (+€11,257)
- Receivables within one year -€21,324
down €21,324 (-90.7%), from €23,502 to €2,178
of which Trade receivables: -€23,183
- Tangible fixed assets -€3,356
down €3,356 (-100%), from €3,356 to €0
of which Furniture and vehicles: -€2,619
- Tax, wage and social debts -€11,388
down €11,388 (-94.7%), from €12,024 to €636
of which Taxes: -€11,388
- Reserves +€11,257
up €11,257 (+24.8%), from €45,461 to €56,718
- Other debts +€4,381
up €4,381 (+39.1%), from €11,217 to €15,598
- Trade debts -€3,554
down €3,554 (-89.5%), from €3,971 to €417
- Gross operating margin +€7,968
up €7,968 (+63.1%), from €12,618 to €20,586
- Taxes +€3,077
up €3,077 (+128%), from €2,408 to €5,485
- Depreciation -€345
down €345 (-9.3%), from €3,700 to €3,356
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 | €82,672 | €83,369 | +€696 | +0.8% |
| Fixed assets | 21/28 | €3,356 | €0 | -€3,356 | -100% |
| Tangible fixed assets | 22/27 | €3,356 | €0 | -€3,356 | -100% |
| Plant, machinery and equipment | 23 | €736 | €0 | -€736 | -100% |
| Furniture and vehicles | 24 | €2,619 | €0 | -€2,619 | -100% |
| Current assets | 29/58 | €79,317 | €83,369 | +€4,052 | +5.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €23,502 | €2,178 | -€21,324 | -90.7% |
| Trade receivables | 40 | €23,319 | €136 | -€23,183 | -99.4% |
| Other amounts receivable | 41 | €183 | €2,042 | +€1,859 | +1,018% |
| Cash at bank and in hand | 54/58 | €54,531 | €79,781 | +€25,250 | +46.3% |
| Deferred charges and accrued income | 490/1 | €1,284 | €1,409 | +€126 | +9.8% |
| Total equity and liabilities | 10/49 | €82,672 | €83,369 | +€696 | +0.8% |
| Equity | 10/15 | €55,461 | €66,718 | +€11,257 | +20.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €45,461 | €56,718 | +€11,257 | +24.8% |
| Distributable reserves | 133 | €45,461 | €56,718 | +€11,257 | +24.8% |
| Amounts payable | 17/49 | €27,212 | €16,651 | -€10,561 | -38.8% |
| Amounts payable within one year | 42/48 | €27,212 | €16,651 | -€10,561 | -38.8% |
| Trade debts | 44 | €3,971 | €417 | -€3,554 | -89.5% |
| Suppliers | 440/4 | €3,971 | €417 | -€3,554 | -89.5% |
| Taxes, remuneration and social security | 45 | €12,024 | €636 | -€11,388 | -94.7% |
| Taxes | 450/3 | €12,024 | €636 | -€11,388 | -94.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,217 | €15,598 | +€4,381 | +39.1% |
| Turnover | 70 | - | €0 | = | |
| Non-recurring operating income | 76A | €174 | - | -€174 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,700 | €3,356 | -€345 | -9.3% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Gross operating margin | 9900 | €12,618 | €20,586 | +€7,968 | +63.1% |
| Operating profit (loss) | 9901 | €8,403 | €16,703 | +€8,300 | +98.8% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €88 | €66 | -€22 | -24.7% |
| Recurring financial charges | 65 | €88 | €66 | -€22 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €8,315 | €16,742 | +€8,427 | +101% |
| Income taxes | 67/77 | €2,408 | €5,485 | +€3,077 | +128% |
| Profit (loss) for the period | 9904 | €5,907 | €11,257 | +€5,350 | +90.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,907 | €11,257 | +€5,350 | +90.6% |
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 26 October 2026 via checked.be.