GALENUS: 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.
GALENUS
Largest movements
- Cash -€55,108
down €55,108 (-30.5%), from €180,913 to €125,805
mainly Receivables within one year (-€44,627) and Accrued charges and deferred income (-€33,219)
- Receivables within one year +€44,627
up €44,627 (+25.4%), from €175,428 to €220,055
of which Trade receivables: +€32,014
- Stocks and contracts -€14,139
down €14,139 (-38.9%), from €36,353 to €22,214
- Deferred charges and accrued income -€11,258
down €11,258 (-47.6%), from €23,658 to €12,400
- Accrued charges and deferred income -€33,219
down €33,219 (-21.1%), from €157,650 to €124,431
- Debts after one year -€12,693
down €12,693 (-10.6%), from €119,880 to €107,188
- Current portion of long-term debt +€8,792
up €8,792 (+52.6%), from €16,716 to €25,509
- Profit (loss) carried forward -€7,300
down €7,300 (-17.1%), from -€42,702 to -€50,001
- Trade debts +€6,226
up €6,226 (+25.3%), from €24,608 to €30,834
- Gross operating margin -€38,452
down €38,452 (-10.7%), from €358,984 to €320,532
- Staff costs -€32,247
down €32,247 (-10.0%), from €323,867 to €291,620
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 | €605,169 | €564,514 | -€40,655 | -6.7% |
| Fixed assets | 21/28 | €188,818 | €184,040 | -€4,777 | -2.5% |
| Intangible fixed assets | 21 | €184 | €0 | -€184 | -100.0% |
| Tangible fixed assets | 22/27 | €188,634 | €184,040 | -€4,594 | -2.4% |
| Land and buildings | 22 | €178,794 | €177,902 | -€892 | -0.5% |
| Plant, machinery and equipment | 23 | €497 | €99 | -€398 | -80.0% |
| Furniture and vehicles | 24 | €9,343 | €6,039 | -€3,304 | -35.4% |
| Current assets | 29/58 | €416,351 | €380,474 | -€35,878 | -8.6% |
| Stocks and contracts in progress | 3 | €36,353 | €22,214 | -€14,139 | -38.9% |
| Contracts in progress | 37 | €36,353 | €22,214 | -€14,139 | -38.9% |
| Amounts receivable within one year | 40/41 | €175,428 | €220,055 | +€44,627 | +25.4% |
| Trade receivables | 40 | €164,487 | €196,501 | +€32,014 | +19.5% |
| Other amounts receivable | 41 | €10,941 | €23,554 | +€12,612 | +115.3% |
| Cash at bank and in hand | 54/58 | €180,913 | €125,805 | -€55,108 | -30.5% |
| Deferred charges and accrued income | 490/1 | €23,658 | €12,400 | -€11,258 | -47.6% |
| Total equity and liabilities | 10/49 | €605,169 | €564,514 | -€40,655 | -6.7% |
| Equity | 10/15 | €204,392 | €197,092 | -€7,300 | -3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €240,893 | €240,893 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €222,143 | €222,143 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,702 | -€50,001 | -€7,300 | -17.1% |
| Amounts payable | 17/49 | €400,777 | €367,422 | -€33,356 | -8.3% |
| Amounts payable after more than one year | 17 | €119,880 | €107,188 | -€12,693 | -10.6% |
| Financial debts | 170/4 | €119,880 | €107,188 | -€12,693 | -10.6% |
| Amounts payable within one year | 42/48 | €123,246 | €135,803 | +€12,556 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €16,716 | €25,509 | +€8,792 | +52.6% |
| Financial debts | 43 | €371 | €42 | -€328 | -88.6% |
| Credit institutions | 430/8 | €371 | €42 | -€328 | -88.6% |
| Trade debts | 44 | €24,608 | €30,834 | +€6,226 | +25.3% |
| Suppliers | 440/4 | €24,608 | €30,834 | +€6,226 | +25.3% |
| Taxes, remuneration and social security | 45 | €39,783 | €36,605 | -€3,178 | -8.0% |
| Taxes | 450/3 | €6,100 | €8,244 | +€2,145 | +35.2% |
| Remuneration and social security | 454/9 | €33,683 | €28,360 | -€5,323 | -15.8% |
| Other amounts payable | 47/48 | €41,769 | €42,813 | +€1,044 | +2.5% |
| Accrued charges and deferred income | 492/3 | €157,650 | €124,431 | -€33,219 | -21.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €323,867 | €291,620 | -€32,247 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,871 | €21,734 | -€3,137 | -12.6% |
| Other operating charges | 640/8 | €3,905 | €3,440 | -€465 | -11.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €358,984 | €320,532 | -€38,452 | -10.7% |
| Operating profit (loss) | 9901 | €6,341 | €3,737 | -€2,604 | -41.1% |
| Financial income | 75/76B | €0 | €81 | +€81 | +805600.0% |
| Recurring financial income | 75 | €0 | €81 | +€81 | +805600.0% |
| Financial charges | 65/66B | €8,567 | €8,131 | -€436 | -5.1% |
| Recurring financial charges | 65 | €8,567 | €8,131 | -€436 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,226 | -€4,313 | -€2,087 | -93.8% |
| Income taxes | 67/77 | €5,467 | €2,986 | -€2,481 | -45.4% |
| Profit (loss) for the period | 9904 | -€7,693 | -€7,300 | +€393 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,693 | -€7,300 | +€393 | +5.1% |
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 11 October 2026 via checked.be.