GALET J: 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
GALET J
NACE 01.500, Mixed farming
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€36,987
2024 · -€390+€37,377
Equity
€3.2m
2024 · €3.2m+€36,987
Cash
€66,093
2024 · €207,151-€141,058
Balance sheet total
€7.7m
2024 · €7.6m+€105,076
Largest movements
Assets
- Tangible fixed assets +€289,061
up €289,061 (+5.0%), from €5.8m to €6.1m
of which Land and buildings: +€350,051
- Cash -€141,058
down €141,058 (-68.1%), from €207,151 to €66,093
mainly Investment in fixed assets (net) (-€580,561) and Stocks and contracts (-€80,278)
- Receivables within one year -€124,480
down €124,480 (-14.7%), from €848,267 to €723,788
of which Trade receivables: -€152,417
- Stocks and contracts +€80,278
up €80,278 (+1,403%), from €5,723 to €86,000
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Depreciation -€141,350
down €141,350 (-32.7%), from €432,850 to €291,500
- Write-downs -€137,831
no longer reported in 2025 (was €137,831)
- Gross operating margin -€137,751
down €137,751 (-16.3%), from €844,409 to €706,658
- Financial charges +€63,599
up €63,599 (+27.2%), from €233,464 to €297,062
- Staff costs +€20,881
up €20,881, from -€94 to €20,787
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
-€390
Gross operating margin
-€137,751
Staff costs
-€20,881
Depreciation
+€141,350
Write-downs
+€137,831
Other operating charges
-€8,647
Financial income
+€1,095
Financial charges
-€63,599
Taxes
-€11,810
Deferred taxes and other
-€212
Result 2025
€36,987
raises the resultlowers the resultnot broken down further in the accounts
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
+€512,695
Investment
-€588,753
Financing
-€65,000
Cash 2024
€207,151
From operations (derived)
+€512,695
Net result for the year
+€36,987
Depreciation
+€291,500
Stocks and contracts
-€80,278
Receivables within one year
+€124,480
Deferred charges and accrued income
+€6,918
Provisions
-€3,936
Trade debts
+€57,887
Tax, wage and social debts
+€29,745
Other debts
+€49,392
Investment (derived)
-€588,753
Investment in fixed assets (net)
-€580,561
Current investments
-€8,193
Financing
-€65,000
Debts after one year
-€65,000
Cash 2025
€66,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,580,051 | €7,685,127 | +€105,076 | +1.4% |
| Fixed assets | 21/28 | €6,433,069 | €6,722,130 | +€289,061 | +4.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €5,833,069 | €6,122,130 | +€289,061 | +5.0% |
| Land and buildings | 22 | €5,549,751 | €5,899,803 | +€350,051 | +6.3% |
| Plant, machinery and equipment | 23 | €141,771 | €103,771 | -€38,000 | -26.8% |
| Furniture and vehicles | 24 | €86,787 | €63,796 | -€22,991 | -26.5% |
| Other tangible fixed assets | 26 | €54,760 | €54,760 | = | 0.0% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €1,146,982 | €962,997 | -€183,985 | -16.0% |
| Stocks and contracts in progress | 3 | €5,723 | €86,000 | +€80,278 | +1,403% |
| Stocks | 30/36 | €5,723 | €86,000 | +€80,278 | +1,403% |
| Amounts receivable within one year | 40/41 | €848,267 | €723,788 | -€124,480 | -14.7% |
| Trade receivables | 40 | €848,267 | €695,851 | -€152,417 | -18.0% |
| Other amounts receivable | 41 | €0 | €27,937 | +€27,937 | |
| Current investments | 50/53 | €77,048 | €85,241 | +€8,193 | +10.6% |
| Cash at bank and in hand | 54/58 | €207,151 | €66,093 | -€141,058 | -68.1% |
| Deferred charges and accrued income | 490/1 | €8,793 | €1,876 | -€6,918 | -78.7% |
| Total equity and liabilities | 10/49 | €7,580,051 | €7,685,127 | +€105,076 | +1.4% |
| Equity | 10/15 | €3,197,170 | €3,234,157 | +€36,987 | +1.2% |
| Contributions | 10/11 | €566,740 | €566,740 | = | 0.0% |
| Reserves | 13 | €2,630,430 | €2,667,417 | +€36,987 | +1.4% |
| Non-distributable reserves | 130/1 | €10,744 | €10,744 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,744 | €10,744 | = | 0.0% |
| Tax-exempt reserves | 132 | €88,449 | €76,642 | -€11,807 | -13.3% |
| Distributable reserves | 133 | €2,531,237 | €2,580,031 | +€48,794 | +1.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €29,483 | €25,547 | -€3,936 | -13.3% |
| Deferred taxes | 168 | €29,483 | €25,547 | -€3,936 | -13.3% |
| Amounts payable | 17/49 | €4,353,398 | €4,425,422 | +€72,024 | +1.7% |
| Amounts payable after more than one year | 17 | €520,000 | €455,000 | -€65,000 | -12.5% |
| Financial debts | 170/4 | €520,000 | €455,000 | -€65,000 | -12.5% |
| Amounts payable within one year | 42/48 | €3,833,398 | €3,970,422 | +€137,024 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €65,000 | €65,000 | = | 0.0% |
| Trade debts | 44 | €28,867 | €86,754 | +€57,887 | +201% |
| Suppliers | 440/4 | €28,867 | €86,754 | +€57,887 | +201% |
| Taxes, remuneration and social security | 45 | €79,069 | €108,814 | +€29,745 | +37.6% |
| Taxes | 450/3 | €79,069 | €97,564 | +€18,495 | +23.4% |
| Remuneration and social security | 454/9 | €0 | €11,250 | +€11,250 | |
| Other amounts payable | 47/48 | €3,660,462 | €3,709,854 | +€49,392 | +1.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€94 | €20,787 | +€20,881 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €432,850 | €291,500 | -€141,350 | -32.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €137,831 | - | -€137,831 | |
| Other operating charges | 640/8 | €48,828 | €57,475 | +€8,647 | +17.7% |
| Gross operating margin | 9900 | €844,409 | €706,658 | -€137,751 | -16.3% |
| Operating profit (loss) | 9901 | €224,994 | €336,897 | +€111,902 | +49.7% |
| Financial income | 75/76B | €4,873 | €5,968 | +€1,095 | +22.5% |
| Recurring financial income | 75 | €4,873 | €5,968 | +€1,095 | +22.5% |
| Financial charges | 65/66B | €233,464 | €297,062 | +€63,599 | +27.2% |
| Recurring financial charges | 65 | €233,464 | €297,062 | +€63,599 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,596 | €45,802 | +€49,398 | |
| Transfer from deferred taxes | 780 | €4,147 | €3,936 | -€212 | -5.1% |
| Income taxes | 67/77 | €941 | €12,751 | +€11,810 | +1,255% |
| Profit (loss) for the period | 9904 | -€390 | €36,987 | +€37,377 | |
| Transfer from tax-exempt reserves | 789 | €12,442 | €11,807 | -€635 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,052 | €48,794 | +€36,742 | +305% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.