GALAFOS: 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.
GALAFOS
Largest movements
- Cash +€114,343
up €114,343 (+73.5%), from €155,639 to €269,982
mainly Net result for the year (+€381,112) and Other debts (+€126,051)
- Debts after one year -€256,903
down €256,903 (-10.7%), from €2.4m to €2.1m
of which Financial debts: -€256,903
- Profit (loss) carried forward +€231,112
up €231,112 (+52.3%), from €441,923 to €673,035
- Other debts +€126,051
up €126,051 (+2,414%), from €5,221 to €131,273
- Financial income +€125,000
up €125,000 (+48.1%), from €260,000 to €385,000
- Financial charges -€7,875
down €7,875 (-8.7%), from €90,443 to €82,568
- Gross operating margin +€4,852
up €4,852 (+6.3%), from €76,771 to €81,623
- Depreciation +€873
up €873 (+153%), from €570 to €1,443
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 | €3,164,510 | €3,283,458 | +€118,948 | +3.8% |
| Fixed assets | 21/28 | €3,001,779 | €3,005,479 | +€3,699 | +0.1% |
| Tangible fixed assets | 22/27 | €1,779 | €5,479 | +€3,699 | +208% |
| Plant, machinery and equipment | 23 | - | €2,908 | +€2,908 | |
| Furniture and vehicles | 24 | €1,779 | €2,571 | +€792 | +44.5% |
| Financial fixed assets | 28 | €3,000,000 | €3,000,000 | = | 0.0% |
| Current assets | 29/58 | €162,731 | €277,980 | +€115,249 | +70.8% |
| Amounts receivable within one year | 40/41 | €6,000 | €6,106 | +€106 | +1.8% |
| Trade receivables | 40 | - | €60 | +€60 | |
| Other amounts receivable | 41 | €6,000 | €6,046 | +€46 | +0.8% |
| Cash at bank and in hand | 54/58 | €155,639 | €269,982 | +€114,343 | +73.5% |
| Deferred charges and accrued income | 490/1 | €1,092 | €1,892 | +€800 | +73.3% |
| Total equity and liabilities | 10/49 | €3,164,510 | €3,283,458 | +€118,948 | +3.8% |
| Equity | 10/15 | €467,923 | €699,035 | +€231,112 | +49.4% |
| Contributions | 10/11 | €26,000 | €26,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €441,923 | €673,035 | +€231,112 | +52.3% |
| Amounts payable | 17/49 | €2,696,587 | €2,584,423 | -€112,163 | -4.2% |
| Amounts payable after more than one year | 17 | €2,389,800 | €2,132,897 | -€256,903 | -10.7% |
| Financial debts | 170/4 | €1,289,800 | €1,032,897 | -€256,903 | -19.9% |
| Other amounts payable | 178/9 | €1,100,000 | €1,100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €265,425 | €410,728 | +€145,303 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €249,518 | €256,903 | +€7,384 | +3.0% |
| Trade debts | 44 | €1,676 | €53 | -€1,623 | -96.8% |
| Suppliers | 440/4 | €1,676 | €53 | -€1,623 | -96.8% |
| Taxes, remuneration and social security | 45 | €9,009 | €22,500 | +€13,491 | +150% |
| Taxes | 450/3 | €9,009 | €22,500 | +€13,491 | +150% |
| Other amounts payable | 47/48 | €5,221 | €131,273 | +€126,051 | +2,414% |
| Accrued charges and deferred income | 492/3 | €41,362 | €40,798 | -€564 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €570 | €1,443 | +€873 | +153% |
| Other operating charges | 640/8 | €1,068 | €1,347 | +€279 | +26.1% |
| Gross operating margin | 9900 | €76,771 | €81,623 | +€4,852 | +6.3% |
| Operating profit (loss) | 9901 | €75,133 | €78,833 | +€3,700 | +4.9% |
| Financial income | 75/76B | €260,000 | €385,000 | +€125,000 | +48.1% |
| Recurring financial income | 75 | €260,000 | €385,000 | +€125,000 | +48.1% |
| Financial charges | 65/66B | €90,443 | €82,568 | -€7,875 | -8.7% |
| Recurring financial charges | 65 | €90,443 | €82,568 | -€7,875 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €244,690 | €381,266 | +€136,576 | +55.8% |
| Income taxes | 67/77 | - | €154 | +€154 | |
| Profit (loss) for the period | 9904 | €244,690 | €381,112 | +€136,422 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €244,690 | €381,112 | +€136,422 | +55.8% |
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 23 October 2026 via checked.be.