GALESCO: 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
GALESCO
NACE 46.450, Wholesale of perfume and cosmetics
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€371,164
2024 · €281,223+€89,941
Equity
€1.2m
2024 · €810,791+€418,364
Cash
€154,547
2024 · €402+€154,145
Balance sheet total
€5.8m
2024 · €3.1m+€2.6m
Largest movements
Assets
- Stocks and contracts +€1.8m
up €1.8m (+72.8%), from €2.5m to €4.4m
- Receivables within one year +€629,692
up €629,692 (+151%), from €416,806 to €1.0m
of which Trade receivables: +€390,572
- Cash +€154,145
up €154,145 (+38,347%), from €402 to €154,547
mainly Trade debts (+€1.9m) and Other debts (+€721,042)
Equity and liabilities
- Trade debts +€1.9m
up €1.9m (+535%), from €350,113 to €2.2m
- Other debts +€721,042
up €721,042 (+1,031%), from €69,903 to €790,944
- Profit (loss) carried forward +€418,364
up €418,364 (+52.2%), from €801,791 to €1.2m
- Short-term financial debts -€318,516
down €318,516 (-45.4%), from €701,965 to €383,449
- Debts after one year -€273,393
down €273,393 (-33.6%), from €813,275 to €539,882
Income statement
- Turnover -€7.8m
no longer reported in 2025 (was €7.8m)
- Purchases and services -€7.1m
no longer reported in 2025 (was €7.1m)
- Gross operating margin +€162,547
up €162,547 (+21.7%), from €748,000 to €910,547
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
€281,223
Gross operating margin
+€162,547
Staff costs
-€43,950
Depreciation
-€1,838
Other operating charges
+€855
Financial income
+€55
Financial charges
+€8,339
Taxes
-€36,067
Result 2025
€371,164
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
+€593,654
Investment
-€67,243
Financing
-€372,266
Cash 2024
€402
From operations (derived)
+€593,654
Net result for the year
+€371,164
Depreciation
+€71,770
Stocks and contracts
-€1.8m
Receivables within one year
-€629,692
Deferred charges and accrued income
-€22,998
Trade debts
+€1.9m
Tax, wage and social debts
+€43,659
Other debts
+€721,042
Accrued charges and deferred income
+€604
Investment (derived)
-€67,243
Investment in fixed assets (net)
-€67,243
Financing
-€372,266
Debts after one year
-€273,393
Current portion of long-term debt
+€172,444
Short-term financial debts
-€318,516
Contributions, distributions and other
+€47,200
Cash 2025
€154,547
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,135,576 | €5,773,019 | +€2.6m | +84.1% |
| Fixed assets | 21/28 | €190,941 | €186,414 | -€4,527 | -2.4% |
| Intangible fixed assets | 21 | €13,227 | - | -€13,227 | |
| Tangible fixed assets | 22/27 | €174,695 | €177,164 | +€2,469 | +1.4% |
| Plant, machinery and equipment | 23 | €75,149 | €100,445 | +€25,296 | +33.7% |
| Furniture and vehicles | 24 | €56,659 | €37,083 | -€19,576 | -34.6% |
| Other tangible fixed assets | 26 | €42,887 | €39,636 | -€3,251 | -7.6% |
| Financial fixed assets | 28 | €3,019 | €9,250 | +€6,231 | +206% |
| Current assets | 29/58 | €2,944,635 | €5,586,604 | +€2.6m | +89.7% |
| Stocks and contracts in progress | 3 | €2,519,900 | €4,355,035 | +€1.8m | +72.8% |
| Stocks | 30/36 | €2,519,900 | €4,355,035 | +€1.8m | +72.8% |
| Amounts receivable within one year | 40/41 | €416,806 | €1,046,498 | +€629,692 | +151% |
| Trade receivables | 40 | €416,806 | €807,378 | +€390,572 | +93.7% |
| Other amounts receivable | 41 | - | €239,120 | +€239,120 | |
| Cash at bank and in hand | 54/58 | €402 | €154,547 | +€154,145 | +38,347% |
| Deferred charges and accrued income | 490/1 | €7,527 | €30,525 | +€22,998 | +306% |
| Total equity and liabilities | 10/49 | €3,135,576 | €5,773,019 | +€2.6m | +84.1% |
| Equity | 10/15 | €810,791 | €1,229,155 | +€418,364 | +51.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €7,000 | +€7,000 | |
| Other | 1109/19 | - | €7,000 | +€7,000 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €801,791 | €1,220,155 | +€418,364 | +52.2% |
| Amounts payable | 17/49 | €2,324,785 | €4,543,863 | +€2.2m | +95.5% |
| Amounts payable after more than one year | 17 | €813,275 | €539,882 | -€273,393 | -33.6% |
| Financial debts | 170/4 | €813,275 | €539,882 | -€273,393 | -33.6% |
| Amounts payable within one year | 42/48 | €1,511,463 | €4,003,332 | +€2.5m | +165% |
| Current portion of amounts payable after more than one year | 42 | €278,850 | €451,294 | +€172,444 | +61.8% |
| Financial debts | 43 | €701,965 | €383,449 | -€318,516 | -45.4% |
| Credit institutions | 430/8 | €701,965 | €383,449 | -€318,516 | -45.4% |
| Trade debts | 44 | €350,113 | €2,223,353 | +€1.9m | +535% |
| Suppliers | 440/4 | €350,113 | €2,223,353 | +€1.9m | +535% |
| Taxes, remuneration and social security | 45 | €110,632 | €154,292 | +€43,659 | +39.5% |
| Taxes | 450/3 | €79,160 | €96,594 | +€17,434 | +22.0% |
| Remuneration and social security | 454/9 | €31,472 | €57,698 | +€26,226 | +83.3% |
| Other amounts payable | 47/48 | €69,903 | €790,944 | +€721,042 | +1,031% |
| Accrued charges and deferred income | 492/3 | €46 | €650 | +€604 | +1,307% |
| Turnover | 70 | €7,802,921 | - | -€7.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €7,062,556 | - | -€7.1m | |
| Remuneration, social security and pensions | 62 | €238,248 | €282,199 | +€43,950 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,932 | €71,770 | +€1,838 | +2.6% |
| Other operating charges | 640/8 | €4,086 | €3,231 | -€855 | -20.9% |
| Gross operating margin | 9900 | €748,000 | €910,547 | +€162,547 | +21.7% |
| Operating profit (loss) | 9901 | €435,733 | €553,347 | +€117,614 | +27.0% |
| Financial income | 75/76B | €38 | €93 | +€55 | +145% |
| Recurring financial income | 75 | €38 | €93 | +€55 | +145% |
| Financial charges | 65/66B | €52,175 | €43,835 | -€8,339 | -16.0% |
| Recurring financial charges | 65 | €52,175 | €43,835 | -€8,339 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €383,597 | €509,606 | +€126,009 | +32.8% |
| Income taxes | 67/77 | €102,374 | €138,442 | +€36,067 | +35.2% |
| Profit (loss) for the period | 9904 | €281,223 | €371,164 | +€89,941 | +32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €281,223 | €371,164 | +€89,941 | +32.0% |
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 19 October 2026 via checked.be.