Gal-Immo: 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.
Gal-Immo
Largest movements
- Current investments +€55,871
up €55,871 (+10.2%), from €548,127 to €603,998
- Tangible fixed assets +€26,254
up €26,254 (+4.1%), from €637,414 to €663,668
- Cash +€19,094
up €19,094 (+50.1%), from €38,124 to €57,218
mainly Net result for the year (+€82,603) and Debts after one year (+€31,600)
- Reserves +€82,603
up €82,603 (+18.3%), from €450,347 to €532,950
of which Tax-exempt reserves: +€55,953
- Debts after one year +€31,600
up €31,600 (+5.7%), from €550,000 to €581,600
of which Financial debts: +€30,000
- Other debts -€24,509
down €24,509 (-84.2%), from €29,108 to €4,599
- Provisions +€18,651
new in 2025: €18,651
- Gross operating margin +€86,004
up €86,004 (+78.1%), from €110,085 to €196,090
- Taxes +€7,965
up €7,965 (+447.8%), from €1,779 to €9,743
- Financial income +€6,691
up €6,691 (+394.8%), from €1,695 to €8,386
- Other operating charges -€4,905
down €4,905 (-19.0%), from €25,851 to €20,946
- Financial charges -€3,046
down €3,046 (-6.9%), from €44,124 to €41,078
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 | €1,294,673 | €1,410,419 | +€115,746 | +8.9% |
| Fixed assets | 21/28 | €637,414 | €663,668 | +€26,254 | +4.1% |
| Tangible fixed assets | 22/27 | €637,414 | €663,668 | +€26,254 | +4.1% |
| Land and buildings | 22 | €637,414 | €663,668 | +€26,254 | +4.1% |
| Current assets | 29/58 | €657,259 | €746,751 | +€89,492 | +13.6% |
| Amounts receivable within one year | 40/41 | €71,008 | €74,935 | +€3,928 | +5.5% |
| Trade receivables | 40 | €6,182 | €11,238 | +€5,055 | +81.8% |
| Other amounts receivable | 41 | €64,825 | €63,698 | -€1,127 | -1.7% |
| Current investments | 50/53 | €548,127 | €603,998 | +€55,871 | +10.2% |
| Cash at bank and in hand | 54/58 | €38,124 | €57,218 | +€19,094 | +50.1% |
| Deferred charges and accrued income | 490/1 | - | €10,600 | +€10,600 | |
| Total equity and liabilities | 10/49 | €1,294,673 | €1,410,419 | +€115,746 | +8.9% |
| Equity | 10/15 | €698,241 | €780,843 | +€82,603 | +11.8% |
| Contributions | 10/11 | €204,512 | €204,512 | = | 0.0% |
| Capital | 10 | €204,512 | €204,512 | = | 0.0% |
| Issued capital | 100 | €204,512 | €204,512 | = | 0.0% |
| Revaluation surpluses | 12 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €450,347 | €532,950 | +€82,603 | +18.3% |
| Non-distributable reserves | 130/1 | €20,451 | €20,451 | = | 0.0% |
| Legal reserve | 130 | €20,451 | €20,451 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €55,953 | +€55,953 | |
| Distributable reserves | 133 | €429,896 | €456,546 | +€26,650 | +6.2% |
| Provisions and deferred taxes | 16 | - | €18,651 | +€18,651 | |
| Deferred taxes | 168 | - | €18,651 | +€18,651 | |
| Amounts payable | 17/49 | €596,432 | €610,925 | +€14,492 | +2.4% |
| Amounts payable after more than one year | 17 | €550,000 | €581,600 | +€31,600 | +5.7% |
| Financial debts | 170/4 | €550,000 | €580,000 | +€30,000 | +5.5% |
| Other amounts payable | 178/9 | - | €1,600 | +€1,600 | |
| Amounts payable within one year | 42/48 | €46,432 | €29,325 | -€17,108 | -36.8% |
| Trade debts | 44 | €1,591 | €4,906 | +€3,315 | +208.4% |
| Suppliers | 440/4 | €1,591 | €4,906 | +€3,315 | +208.4% |
| Taxes, remuneration and social security | 45 | €15,733 | €19,819 | +€4,086 | +26.0% |
| Taxes | 450/3 | €15,733 | €19,819 | +€4,086 | +26.0% |
| Other amounts payable | 47/48 | €29,108 | €4,599 | -€24,509 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,521 | €31,275 | -€246 | -0.8% |
| Other operating charges | 640/8 | €25,851 | €20,946 | -€4,905 | -19.0% |
| Non-recurring operating charges | 66A | €234 | €180 | -€54 | -23.2% |
| Gross operating margin | 9900 | €110,085 | €196,090 | +€86,004 | +78.1% |
| Operating profit (loss) | 9901 | €52,480 | €143,689 | +€91,209 | +173.8% |
| Financial income | 75/76B | €1,695 | €8,386 | +€6,691 | +394.8% |
| Recurring financial income | 75 | €1,695 | €8,386 | +€6,691 | +394.8% |
| Financial charges | 65/66B | €44,124 | €41,078 | -€3,046 | -6.9% |
| Recurring financial charges | 65 | €44,124 | €41,078 | -€3,046 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €10,051 | €110,997 | +€100,946 | +1004.3% |
| Transfer from deferred taxes | 780 | - | €226 | +€226 | |
| Transfer to deferred taxes | 680 | - | €18,877 | +€18,877 | |
| Income taxes | 67/77 | €1,779 | €9,743 | +€7,965 | +447.8% |
| Profit (loss) for the period | 9904 | €8,272 | €82,603 | +€74,331 | +898.6% |
| Transfer from tax-exempt reserves | 789 | - | €679 | +€679 | |
| Transfer to tax-exempt reserves | 689 | - | €56,632 | +€56,632 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,272 | €26,650 | +€18,378 | +222.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.