GALAXIE: 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.
What changed
GALAXIE
NACE 50.400, Inland freight water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€873,152
2024 · €1.4m-€515,376
Equity
€8.5m
2024 · €7.7m+€873,152
Cash
€408,369
2024 · €348,552+€59,817
Balance sheet total
€10.1m
2024 · €9.6m+€527,645
Largest movements
Assets
- Receivables after one year +€535,000
up €535,000 (+15.2%), from €3.5m to €4.1m
Equity and liabilities
- Reserves +€873,152
up €873,152 (+11.1%), from €7.9m to €8.8m
of which Distributable reserves: +€873,152
- Debts after one year -€290,255
down €290,255 (-20.0%), from €1.5m to €1.2m
Income statement
- Financial income -€532,388
down €532,388 (-31.5%), from €1.7m to €1.2m
- Taxes -€51,786
down €51,786 (-37.0%), from €139,913 to €88,127
- Depreciation +€25,507
up €25,507 (+4.7%), from €548,021 to €573,528
- Gross operating margin -€16,702
down €16,702 (-3.8%), from €445,222 to €428,520
- Financial charges -€9,039
down €9,039 (-15.0%), from €60,378 to €51,339
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.
Result 2024
€1.4m
Gross operating margin
-€16,702
Depreciation
-€25,507
Other operating charges
-€1,604
Financial income
-€532,388
Financial charges
+€9,039
Taxes
+€51,786
Result 2025
€873,152
raises the resultlowers the result
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.
From operations
+€840,765
Investment
-€490,693
Financing
-€290,255
Cash 2024
€348,552
From operations (derived)
+€840,765
Net result for the year
+€873,152
Depreciation
+€573,528
Receivables after one year
-€535,000
Receivables within one year
-€18,254
Deferred charges and accrued income
+€2,590
Trade debts
-€5,269
Tax, wage and social debts
-€49,983
Investment (derived)
-€490,693
Investment in fixed assets (net)
-€490,693
Financing
-€290,255
Debts after one year
-€290,255
Cash 2025
€408,369
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,556,548 | €10,084,193 | +€527,645 | +5.5% |
| Fixed assets | 21/28 | €5,191,384 | €5,108,548 | -€82,835 | -1.6% |
| Tangible fixed assets | 22/27 | €2,736,363 | €2,653,528 | -€82,835 | -3.0% |
| Plant, machinery and equipment | 23 | €2,733,144 | €2,186,515 | -€546,629 | -20.0% |
| Furniture and vehicles | 24 | €3,219 | €87,616 | +€84,396 | +2,621% |
| Other tangible fixed assets | 26 | - | €379,397 | +€379,397 | |
| Financial fixed assets | 28 | €2,455,020 | €2,455,020 | = | 0.0% |
| Current assets | 29/58 | €4,365,164 | €4,975,645 | +€610,481 | +14.0% |
| Amounts receivable after more than one year | 29 | €3,525,000 | €4,060,000 | +€535,000 | +15.2% |
| Trade receivables | 290 | €3,525,000 | €4,060,000 | +€535,000 | +15.2% |
| Amounts receivable within one year | 40/41 | €364,022 | €382,276 | +€18,254 | +5.0% |
| Trade receivables | 40 | €7,599 | €3,694 | -€3,904 | -51.4% |
| Other amounts receivable | 41 | €356,424 | €378,582 | +€22,158 | +6.2% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €348,552 | €408,369 | +€59,817 | +17.2% |
| Deferred charges and accrued income | 490/1 | €2,590 | €0 | -€2,590 | -100% |
| Total equity and liabilities | 10/49 | €9,556,548 | €10,084,193 | +€527,645 | +5.5% |
| Equity | 10/15 | €7,666,865 | €8,540,016 | +€873,152 | +11.4% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €7,884,101 | €8,757,252 | +€873,152 | +11.1% |
| Tax-exempt reserves | 132 | €3,554,153 | €3,554,153 | = | 0.0% |
| Distributable reserves | 133 | €4,329,948 | €5,203,099 | +€873,152 | +20.2% |
| Profit (loss) carried forward | 14 | -€248,223 | -€248,223 | = | 0.0% |
| Amounts payable | 17/49 | €1,889,683 | €1,544,177 | -€345,506 | -18.3% |
| Amounts payable after more than one year | 17 | €1,451,274 | €1,161,019 | -€290,255 | -20.0% |
| Financial debts | 170/4 | €1,451,274 | €1,161,019 | -€290,255 | -20.0% |
| Amounts payable within one year | 42/48 | €438,409 | €383,157 | -€55,251 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €290,255 | €290,255 | = | 0.0% |
| Trade debts | 44 | €7,413 | €2,145 | -€5,269 | -71.1% |
| Suppliers | 440/4 | €7,413 | €2,145 | -€5,269 | -71.1% |
| Taxes, remuneration and social security | 45 | €140,740 | €90,758 | -€49,983 | -35.5% |
| Taxes | 450/3 | €140,740 | €90,758 | -€49,983 | -35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €548,021 | €573,528 | +€25,507 | +4.7% |
| Other operating charges | 640/8 | €1,149 | €2,752 | +€1,604 | +140% |
| Gross operating margin | 9900 | €445,222 | €428,520 | -€16,702 | -3.8% |
| Operating profit (loss) | 9901 | -€103,948 | -€147,760 | -€43,813 | -42.1% |
| Financial income | 75/76B | €1,692,766 | €1,160,377 | -€532,388 | -31.5% |
| Recurring financial income | 75 | €1,692,766 | €1,160,377 | -€532,388 | -31.5% |
| Financial charges | 65/66B | €60,378 | €51,339 | -€9,039 | -15.0% |
| Recurring financial charges | 65 | €60,378 | €51,339 | -€9,039 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €1,528,441 | €961,278 | -€567,162 | -37.1% |
| Income taxes | 67/77 | €139,913 | €88,127 | -€51,786 | -37.0% |
| Profit (loss) for the period | 9904 | €1,388,528 | €873,152 | -€515,376 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,388,528 | €873,152 | -€515,376 | -37.1% |
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 20 October 2026 via checked.be.