GALCOM: 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.
GALCOM
Largest movements
- Cash -€127,929
down €127,929 (-49.6%), from €257,967 to €130,038
mainly Investment in fixed assets (net) (-€188,008) and Accrued charges and deferred income (-€27,960)
- Tangible fixed assets +€121,859
up €121,859 (+19.5%), from €625,545 to €747,404
of which Land and buildings: +€128,937
- Receivables within one year -€10,655
down €10,655 (-57.9%), from €18,410 to €7,755
of which Other amounts receivable: -€11,409
- Trade debts +€33,070
up €33,070 (+648.3%), from €5,101 to €38,171
- Accrued charges and deferred income -€27,960
down €27,960 (-22.4%), from €124,610 to €96,650
- Profit (loss) carried forward -€19,674
down €19,674 (-0.6%), from -€3.4m to -€3.4m
- Gross operating margin -€19,546
down €19,546 (-8.7%), from €225,111 to €205,565
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 | €921,246 | €906,747 | -€14,499 | -1.6% |
| Fixed assets | 21/28 | €626,045 | €747,904 | +€121,859 | +19.5% |
| Tangible fixed assets | 22/27 | €625,545 | €747,404 | +€121,859 | +19.5% |
| Land and buildings | 22 | €513,310 | €642,247 | +€128,937 | +25.1% |
| Furniture and vehicles | 24 | €110,423 | €103,569 | -€6,854 | -6.2% |
| Other tangible fixed assets | 26 | €1,812 | €1,588 | -€224 | -12.4% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €295,201 | €158,843 | -€136,358 | -46.2% |
| Amounts receivable within one year | 40/41 | €18,410 | €7,755 | -€10,655 | -57.9% |
| Trade receivables | 40 | €1,706 | €2,460 | +€754 | +44.2% |
| Other amounts receivable | 41 | €16,704 | €5,295 | -€11,409 | -68.3% |
| Cash at bank and in hand | 54/58 | €257,967 | €130,038 | -€127,929 | -49.6% |
| Deferred charges and accrued income | 490/1 | €18,824 | €21,050 | +€2,226 | +11.8% |
| Total equity and liabilities | 10/49 | €921,246 | €906,747 | -€14,499 | -1.6% |
| Equity | 10/15 | -€1,144,252 | -€1,163,926 | -€19,674 | -1.7% |
| Contributions | 10/11 | €2,268,226 | €2,268,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,412,478 | -€3,432,152 | -€19,674 | -0.6% |
| Amounts payable | 17/49 | €2,065,498 | €2,070,673 | +€5,175 | +0.3% |
| Amounts payable after more than one year | 17 | €1,897,000 | €1,897,000 | = | 0.0% |
| Financial debts | 170/4 | €1,897,000 | €1,897,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €43,888 | €77,023 | +€33,135 | +75.5% |
| Trade debts | 44 | €5,101 | €38,171 | +€33,070 | +648.3% |
| Suppliers | 440/4 | €5,101 | €38,171 | +€33,070 | +648.3% |
| Taxes, remuneration and social security | 45 | €38,787 | €38,787 | = | 0.0% |
| Taxes | 450/3 | €38,787 | €38,787 | = | 0.0% |
| Other amounts payable | 47/48 | - | €65 | +€65 | |
| Accrued charges and deferred income | 492/3 | €124,610 | €96,650 | -€27,960 | -22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,634 | €66,149 | +€1,515 | +2.3% |
| Other operating charges | 640/8 | €26,356 | €27,183 | +€827 | +3.1% |
| Gross operating margin | 9900 | €225,111 | €205,565 | -€19,546 | -8.7% |
| Operating profit (loss) | 9901 | €134,121 | €112,233 | -€21,888 | -16.3% |
| Financial charges | 65/66B | €131,855 | €131,907 | +€52 | 0.0% |
| Recurring financial charges | 65 | €131,855 | €131,907 | +€52 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €2,266 | -€19,674 | -€21,940 | |
| Profit (loss) for the period | 9904 | €2,266 | -€19,674 | -€21,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,266 | -€19,674 | -€21,940 |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.