GALF Immo: 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.
GALF Immo
Largest movements
- Tangible fixed assets -€12,657
down €12,657 (-3.4%), from €371,817 to €359,160
of which Land and buildings: -€12,177
- Debts after one year -€15,043
down €15,043 (-4.4%), from €344,259 to €329,216
of which Financial debts: -€15,043
- Depreciation +€2,386
up €2,386 (+23.2%), from €10,271 to €12,657
- Gross operating margin +€2,126
up €2,126 (+10.4%), from €20,355 to €22,480
- Taxes +€661
up €661 (+78.7%), from €839 to €1,500
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 | €379,837 | €367,955 | -€11,882 | -3.1% |
| Fixed assets | 21/28 | €371,817 | €359,160 | -€12,657 | -3.4% |
| Tangible fixed assets | 22/27 | €371,817 | €359,160 | -€12,657 | -3.4% |
| Land and buildings | 22 | €370,031 | €357,855 | -€12,177 | -3.3% |
| Plant, machinery and equipment | 23 | €1,786 | €1,305 | -€480 | -26.9% |
| Current assets | 29/58 | €8,020 | €8,795 | +€775 | +9.7% |
| Amounts receivable within one year | 40/41 | €661 | - | -€661 | |
| Other amounts receivable | 41 | €661 | - | -€661 | |
| Cash at bank and in hand | 54/58 | €7,359 | €8,265 | +€906 | +12.3% |
| Deferred charges and accrued income | 490/1 | - | €530 | +€530 | |
| Total equity and liabilities | 10/49 | €379,837 | €367,955 | -€11,882 | -3.1% |
| Equity | 10/15 | €20,062 | €22,654 | +€2,592 | +12.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €16,062 | €16,062 | = | 0.0% |
| Distributable reserves | 133 | €16,062 | €16,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €2,592 | +€2,592 | |
| Amounts payable | 17/49 | €359,774 | €345,301 | -€14,473 | -4.0% |
| Amounts payable after more than one year | 17 | €344,259 | €329,216 | -€15,043 | -4.4% |
| Financial debts | 170/4 | €263,059 | €248,016 | -€15,043 | -5.7% |
| Other amounts payable | 178/9 | €81,200 | €81,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,515 | €16,085 | +€569 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €14,823 | €15,043 | +€219 | +1.5% |
| Trade debts | 44 | €692 | €1,042 | +€350 | +50.6% |
| Suppliers | 440/4 | €692 | €1,042 | +€350 | +50.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,271 | €12,657 | +€2,386 | +23.2% |
| Other operating charges | 640/8 | €1,431 | €1,474 | +€43 | +3.0% |
| Gross operating margin | 9900 | €20,355 | €22,480 | +€2,126 | +10.4% |
| Operating profit (loss) | 9901 | €8,653 | €8,349 | -€303 | -3.5% |
| Financial charges | 65/66B | €4,457 | €4,258 | -€199 | -4.5% |
| Recurring financial charges | 65 | €4,457 | €4,258 | -€199 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €4,196 | €4,092 | -€104 | -2.5% |
| Income taxes | 67/77 | €839 | €1,500 | +€661 | +78.7% |
| Profit (loss) for the period | 9904 | €3,357 | €2,592 | -€765 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,357 | €2,592 | -€765 | -22.8% |
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.