GALAXY PROPAR: 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.
GALAXY PROPAR
Largest movements
- Tangible fixed assets -€25,249
down €25,249 (-36.1%), from €69,984 to €44,736
of which Plant, machinery and equipment: -€16,432
- Stocks and contracts +€5,717
up €5,717 (+20.3%), from €28,150 to €33,867
- Receivables within one year +€4,435
up €4,435 (+23.1%), from €19,202 to €23,637
of which Trade receivables: +€5,316
- Cash +€2,755
up €2,755 (+3.9%), from €71,086 to €73,841
mainly Depreciation (+€33,517) and Net result for the year (+€29,572)
- Other debts -€35,182
down €35,182 (-12.4%), from €283,943 to €248,760
- Profit (loss) carried forward +€29,572
up €29,572 (+23.9%), from -€123,495 to -€93,922
- Debts after one year -€8,341
down €8,341 (-62.6%), from €13,323 to €4,982
- Gross operating margin +€35,199
up €35,199 (+115.5%), from €30,469 to €65,668
- Staff costs -€1,513
no longer reported in 2025 (was €1,513)
- Depreciation +€954
up €954 (+2.9%), from €32,563 to €33,517
- Taxes +€732
up €732, from -€166 to €566
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 | €193,956 | €181,620 | -€12,336 | -6.4% |
| Fixed assets | 21/28 | €73,493 | €48,245 | -€25,249 | -34.4% |
| Tangible fixed assets | 22/27 | €69,984 | €44,736 | -€25,249 | -36.1% |
| Plant, machinery and equipment | 23 | €46,145 | €29,714 | -€16,432 | -35.6% |
| Furniture and vehicles | 24 | €23,839 | €15,022 | -€8,817 | -37.0% |
| Financial fixed assets | 28 | €3,509 | €3,509 | = | 0.0% |
| Current assets | 29/58 | €120,463 | €133,375 | +€12,913 | +10.7% |
| Stocks and contracts in progress | 3 | €28,150 | €33,867 | +€5,717 | +20.3% |
| Stocks | 30/36 | €28,150 | €33,867 | +€5,717 | +20.3% |
| Amounts receivable within one year | 40/41 | €19,202 | €23,637 | +€4,435 | +23.1% |
| Trade receivables | 40 | €18,299 | €23,615 | +€5,316 | +29.1% |
| Other amounts receivable | 41 | €903 | €22 | -€881 | -97.6% |
| Cash at bank and in hand | 54/58 | €71,086 | €73,841 | +€2,755 | +3.9% |
| Deferred charges and accrued income | 490/1 | €2,025 | €2,031 | +€6 | +0.3% |
| Total equity and liabilities | 10/49 | €193,956 | €181,620 | -€12,336 | -6.4% |
| Equity | 10/15 | -€117,295 | -€87,722 | +€29,572 | +25.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€123,495 | -€93,922 | +€29,572 | +23.9% |
| Amounts payable | 17/49 | €311,251 | €269,343 | -€41,908 | -13.5% |
| Amounts payable after more than one year | 17 | €13,323 | €4,982 | -€8,341 | -62.6% |
| Financial debts | 170/4 | €13,323 | €4,982 | -€8,341 | -62.6% |
| Amounts payable within one year | 42/48 | €297,928 | €264,360 | -€33,567 | -11.3% |
| Financial debts | 43 | €8,094 | €8,341 | +€247 | +3.1% |
| Credit institutions | 430/8 | €8,094 | €8,341 | +€247 | +3.1% |
| Trade debts | 44 | €881 | €1,193 | +€312 | +35.4% |
| Suppliers | 440/4 | €881 | €1,193 | +€312 | +35.4% |
| Taxes, remuneration and social security | 45 | €5,010 | €6,066 | +€1,056 | +21.1% |
| Taxes | 450/3 | €5,010 | €6,066 | +€1,056 | +21.1% |
| Other amounts payable | 47/48 | €283,943 | €248,760 | -€35,182 | -12.4% |
| Remuneration, social security and pensions | 62 | €1,513 | - | -€1,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,563 | €33,517 | +€954 | +2.9% |
| Other operating charges | 640/8 | €1,461 | €1,500 | +€40 | +2.7% |
| Gross operating margin | 9900 | €30,469 | €65,668 | +€35,199 | +115.5% |
| Operating profit (loss) | 9901 | -€5,067 | €30,650 | +€35,717 | |
| Financial income | 75/76B | €207 | €65 | -€143 | -68.8% |
| Recurring financial income | 75 | €207 | €65 | -€143 | -68.8% |
| Financial charges | 65/66B | €1,057 | €576 | -€481 | -45.5% |
| Recurring financial charges | 65 | €1,057 | €576 | -€481 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,917 | €30,138 | +€36,055 | |
| Income taxes | 67/77 | -€166 | €566 | +€732 | |
| Profit (loss) for the period | 9904 | -€5,751 | €29,572 | +€35,323 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,751 | €29,572 | +€35,323 |
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.