GALGEST: 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.
GALGEST
Largest movements
- Cash +€65,676
up €65,676 (+84.4%), from €77,832 to €143,508
mainly Net result for the year (+€64,784) and Depreciation (+€5,262)
- Tangible fixed assets -€5,262
down €5,262 (-92.2%), from €5,709 to €447
- Receivables within one year +€4,404
up €4,404 (+57.1%), from €7,718 to €12,121
- Reserves +€64,784
up €64,784 (+72.2%), from €89,728 to €154,512
- Gross operating margin +€26,492
up €26,492 (+37.7%), from €70,287 to €96,779
- Taxes +€7,192
up €7,192 (+38.9%), from €18,495 to €25,687
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 | €91,414 | €156,244 | +€64,830 | +70.9% |
| Fixed assets | 21/28 | €5,709 | €447 | -€5,262 | -92.2% |
| Tangible fixed assets | 22/27 | €5,709 | €447 | -€5,262 | -92.2% |
| Furniture and vehicles | 24 | €5,709 | €447 | -€5,262 | -92.2% |
| Current assets | 29/58 | €85,704 | €155,797 | +€70,093 | +81.8% |
| Amounts receivable within one year | 40/41 | €7,718 | €12,121 | +€4,404 | +57.1% |
| Other amounts receivable | 41 | €7,718 | €12,121 | +€4,404 | +57.1% |
| Cash at bank and in hand | 54/58 | €77,832 | €143,508 | +€65,676 | +84.4% |
| Deferred charges and accrued income | 490/1 | €155 | €168 | +€13 | +8.5% |
| Total equity and liabilities | 10/49 | €91,414 | €156,244 | +€64,830 | +70.9% |
| Equity | 10/15 | €90,728 | €155,512 | +€64,784 | +71.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €89,728 | €154,512 | +€64,784 | +72.2% |
| Distributable reserves | 133 | €89,728 | €154,512 | +€64,784 | +72.2% |
| Amounts payable | 17/49 | €686 | €732 | +€46 | +6.7% |
| Amounts payable within one year | 42/48 | €686 | €732 | +€46 | +6.7% |
| Trade debts | 44 | €136 | €124 | -€12 | -8.8% |
| Suppliers | 440/4 | €136 | €124 | -€12 | -8.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €550 | €608 | +€58 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,262 | €5,262 | = | 0.0% |
| Other operating charges | 640/8 | €899 | €1,003 | +€105 | +11.6% |
| Gross operating margin | 9900 | €70,287 | €96,779 | +€26,492 | +37.7% |
| Operating profit (loss) | 9901 | €64,126 | €90,513 | +€26,388 | +41.1% |
| Financial charges | 65/66B | €42 | €42 | = | 0.0% |
| Recurring financial charges | 65 | €42 | €42 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €64,084 | €90,471 | +€26,388 | +41.2% |
| Income taxes | 67/77 | €18,495 | €25,687 | +€7,192 | +38.9% |
| Profit (loss) for the period | 9904 | €45,589 | €64,784 | +€19,195 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,589 | €64,784 | +€19,195 | +42.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 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.