GALARMO: 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.
GALARMO
Largest movements
- Cash +€140,274
new in 2025: €140,274
mainly Net result for the year (+€254,338) and Other debts (+€36,998)
- Tangible fixed assets -€15,486
no longer reported in 2025 (was €15,486)
of which Land and buildings: -€14,569
- Receivables within one year +€4,679
up €4,679 (+34.4%), from €13,619 to €18,298
of which Trade receivables: +€4,648
- Profit (loss) carried forward +€254,338
up €254,338 (+64.9%), from -€392,152 to -€137,814
- Accrued charges and deferred income -€81,042
down €81,042 (-36.0%), from €225,372 to €144,330
- Other debts +€36,998
up €36,998 (+83.9%), from €44,092 to €81,090
- Trade debts -€24,688
down €24,688 (-45.4%), from €54,419 to €29,731
- Debts after one year -€22,335
no longer reported in 2025 (was €22,335)
- Gross operating margin +€256,044
up €256,044 (+358.5%), from €71,426 to €327,471
- Staff costs -€33,400
down €33,400 (-35.8%), from €93,278 to €59,879
- Depreciation -€7,081
no longer reported in 2025 (was €7,081)
- Financial charges -€7,076
down €7,076 (-43.3%), from €16,340 to €9,264
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 | €29,950 | €158,680 | +€128,730 | +429.8% |
| Fixed assets | 21/28 | €16,331 | - | -€16,331 | |
| Tangible fixed assets | 22/27 | €15,486 | - | -€15,486 | |
| Land and buildings | 22 | €14,569 | - | -€14,569 | |
| Plant, machinery and equipment | 23 | €917 | - | -€917 | |
| Financial fixed assets | 28 | €845 | - | -€845 | |
| Current assets | 29/58 | €13,619 | €158,680 | +€145,061 | +1065.1% |
| Amounts receivable within one year | 40/41 | €13,619 | €18,298 | +€4,679 | +34.4% |
| Trade receivables | 40 | €13,312 | €17,960 | +€4,648 | +34.9% |
| Other amounts receivable | 41 | €307 | €338 | +€31 | +10.1% |
| Cash at bank and in hand | 54/58 | - | €140,274 | +€140,274 | |
| Deferred charges and accrued income | 490/1 | - | €108 | +€108 | |
| Total equity and liabilities | 10/49 | €29,950 | €158,680 | +€128,730 | +429.8% |
| Equity | 10/15 | -€367,238 | -€112,901 | +€254,338 | +69.3% |
| Contributions | 10/11 | €24,913 | €24,913 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€392,152 | -€137,814 | +€254,338 | +64.9% |
| Amounts payable | 17/49 | €397,188 | €271,581 | -€125,607 | -31.6% |
| Amounts payable after more than one year | 17 | €22,335 | - | -€22,335 | |
| Financial debts | 170/4 | €22,335 | - | -€22,335 | |
| Amounts payable within one year | 42/48 | €149,482 | €127,251 | -€22,230 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €17,742 | - | -€17,742 | |
| Financial debts | 43 | €3,971 | - | -€3,971 | |
| Credit institutions | 430/8 | €3,971 | - | -€3,971 | |
| Trade debts | 44 | €54,419 | €29,731 | -€24,688 | -45.4% |
| Suppliers | 440/4 | €54,419 | €29,731 | -€24,688 | -45.4% |
| Taxes, remuneration and social security | 45 | €29,258 | €16,431 | -€12,827 | -43.8% |
| Taxes | 450/3 | €7,038 | €398 | -€6,640 | -94.3% |
| Remuneration and social security | 454/9 | €22,220 | €16,033 | -€6,187 | -27.8% |
| Other amounts payable | 47/48 | €44,092 | €81,090 | +€36,998 | +83.9% |
| Accrued charges and deferred income | 492/3 | €225,372 | €144,330 | -€81,042 | -36.0% |
| Non-recurring operating income | 76A | - | €299,514 | +€299,514 | |
| Remuneration, social security and pensions | 62 | €93,278 | €59,879 | -€33,400 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,081 | - | -€7,081 | |
| Other operating charges | 640/8 | €5,830 | €3,070 | -€2,759 | -47.3% |
| Non-recurring operating charges | 66A | €96,000 | €845 | -€95,155 | -99.1% |
| Gross operating margin | 9900 | €71,426 | €327,471 | +€256,044 | +358.5% |
| Operating profit (loss) | 9901 | -€130,763 | €263,677 | +€394,439 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -25.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -25.0% |
| Financial charges | 65/66B | €16,340 | €9,264 | -€7,076 | -43.3% |
| Recurring financial charges | 65 | €16,340 | €9,264 | -€7,076 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | -€147,102 | €254,413 | +€401,515 | |
| Income taxes | 67/77 | €78 | €75 | -€3 | -4.3% |
| Profit (loss) for the period | 9904 | -€147,181 | €254,338 | +€401,518 | |
| Profit (loss) for the period to be appropriated | 9905 | -€147,181 | €254,338 | +€401,518 |
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.