GALAM: 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.
GALAM
Largest movements
- Tangible fixed assets -€9,394
down €9,394 (-4.8%), from €195,291 to €185,898
of which Land and buildings: -€9,059
- Cash +€4,425
up €4,425 (+46.0%), from €9,626 to €14,051
mainly Depreciation (+€9,394) and Other debts (+€1,210)
- Profit (loss) carried forward -€5,995
down €5,995 (-1.8%), from -€341,753 to -€347,749
- Gross operating margin -€3,262
down €3,262 (-38.2%), from €8,540 to €5,278
- Depreciation +€174
up €174 (+1.9%), from €9,220 to €9,394
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 | €207,866 | €202,102 | -€5,764 | -2.8% |
| Fixed assets | 21/28 | €195,341 | €185,948 | -€9,394 | -4.8% |
| Tangible fixed assets | 22/27 | €195,291 | €185,898 | -€9,394 | -4.8% |
| Land and buildings | 22 | €193,673 | €184,614 | -€9,059 | -4.7% |
| Plant, machinery and equipment | 23 | €1,618 | €1,283 | -€335 | -20.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €12,525 | €16,155 | +€3,630 | +29.0% |
| Stocks and contracts in progress | 3 | €217 | €260 | +€43 | +19.9% |
| Stocks | 30/36 | €217 | €260 | +€43 | +19.9% |
| Amounts receivable within one year | 40/41 | €2,033 | €1,152 | -€881 | -43.4% |
| Trade receivables | 40 | €1,649 | €1,139 | -€510 | -30.9% |
| Other amounts receivable | 41 | €384 | €12 | -€372 | -96.8% |
| Cash at bank and in hand | 54/58 | €9,626 | €14,051 | +€4,425 | +46.0% |
| Deferred charges and accrued income | 490/1 | €649 | €692 | +€43 | +6.7% |
| Total equity and liabilities | 10/49 | €207,866 | €202,102 | -€5,764 | -2.8% |
| Equity | 10/15 | €58,247 | €52,251 | -€5,995 | -10.3% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€341,753 | -€347,749 | -€5,995 | -1.8% |
| Amounts payable | 17/49 | €149,620 | €149,851 | +€231 | +0.2% |
| Amounts payable within one year | 42/48 | €148,056 | €149,811 | +€1,756 | +1.2% |
| Trade debts | 44 | €1,392 | €1,810 | +€419 | +30.1% |
| Suppliers | 440/4 | €1,392 | €1,810 | +€419 | +30.1% |
| Taxes, remuneration and social security | 45 | €1,600 | €1,727 | +€127 | +7.9% |
| Taxes | 450/3 | - | €127 | +€127 | |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €145,064 | €146,274 | +€1,210 | +0.8% |
| Accrued charges and deferred income | 492/3 | €1,564 | €40 | -€1,524 | -97.5% |
| Non-recurring operating income | 76A | €5,202 | €12,563 | +€7,361 | +141.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,220 | €9,394 | +€174 | +1.9% |
| Other operating charges | 640/8 | €1,642 | €1,693 | +€51 | +3.1% |
| Gross operating margin | 9900 | €8,540 | €5,278 | -€3,262 | -38.2% |
| Operating profit (loss) | 9901 | -€2,322 | -€5,809 | -€3,486 | -150.1% |
| Financial income | 75/76B | €13 | €10 | -€4 | -27.6% |
| Recurring financial income | 75 | €13 | €10 | -€4 | -27.6% |
| Financial charges | 65/66B | €233 | €196 | -€37 | -15.9% |
| Recurring financial charges | 65 | €233 | €196 | -€37 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€2,542 | -€5,995 | -€3,453 | -135.8% |
| Profit (loss) for the period | 9904 | -€2,542 | -€5,995 | -€3,453 | -135.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,542 | -€5,995 | -€3,453 | -135.8% |
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 4 October 2026 via checked.be.