GALHAUBAN: what changed
What changed
GALHAUBAN
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€16,477
2024 · €14,384+€2,093
Equity
€406,212
2024 · €438,740-€32,528
Cash
€493
2024 · €3,795-€3,302
Balance sheet total
€696,006
2024 · €733,227-€37,221
Largest movements
Assets
- Tangible fixed assets -€35,650
down €35,650 (-4.9%), from €727,713 to €692,063
Equity and liabilities
- Profit (loss) carried forward -€32,528
down €32,528 (-19.6%), from -€165,573 to -€198,101
- Accrued charges and deferred income +€9,613
new in 2025: €9,613
- Debts after one year -€8,549
down €8,549 (-3.3%), from €259,402 to €250,853
of which Financial debts: -€14,065
Income statement
- Gross operating margin +€6,239
up €6,239 (+33.6%), from €18,575 to €24,814
- Purchases and services -€6,044
down €6,044 (-23.4%), from €25,793 to €19,749
- Depreciation +€3,423
up €3,423 (+10.6%), from €32,227 to €35,650
- Other operating charges -€2,259
down €2,259 (-23.0%), from €9,831 to €7,572
- Taxes -€1,600
down €1,600 (-13.8%), from €11,613 to €10,013
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,384
Gross operating margin
+€6,239
Depreciation
-€3,423
Other operating charges
+€2,259
Financial charges
-€917
Taxes
+€1,600
Deferred taxes and other
-€3,665
Result 2025
€16,477
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€53,882
Investment
€0
Financing
-€57,184
Cash 2024
€3,795
From operations (derived)
+€53,882
Net result for the year
+€16,477
Depreciation
+€35,650
Receivables within one year
-€1,731
Trade debts
-€510
Tax, wage and social debts
-€2,877
Advances received
-€2,740
Accrued charges and deferred income
+€9,613
Financing
-€57,184
Debts after one year
-€8,549
Current portion of long-term debt
+€370
Contributions, distributions and other
-€49,005
Cash 2025
€493
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €733,227 | €696,006 | -€37,221 | -5.1% |
| Fixed assets | 21/28 | €727,713 | €692,063 | -€35,650 | -4.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €727,713 | €692,063 | -€35,650 | -4.9% |
| Land and buildings | 22 | €727,713 | €692,063 | -€35,650 | -4.9% |
| Current assets | 29/58 | €5,514 | €3,943 | -€1,571 | -28.5% |
| Amounts receivable after more than one year | 29 | €25 | €25 | = | 0.0% |
| Other amounts receivable | 291 | €25 | €25 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,694 | €3,425 | +€1,731 | +102% |
| Trade receivables | 40 | €1,694 | €3,425 | +€1,731 | +102% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €3,795 | €493 | -€3,302 | -87.0% |
| Total equity and liabilities | 10/49 | €733,227 | €696,006 | -€37,221 | -5.1% |
| Equity | 10/15 | €438,740 | €406,212 | -€32,528 | -7.4% |
| Contributions | 10/11 | €303,200 | €303,200 | = | 0.0% |
| Revaluation surpluses | 12 | €201,113 | €201,113 | = | 0.0% |
| Reserves | 13 | €100,000 | €100,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€165,573 | -€198,101 | -€32,528 | -19.6% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €294,487 | €289,794 | -€4,693 | -1.6% |
| Amounts payable after more than one year | 17 | €259,402 | €250,853 | -€8,549 | -3.3% |
| Financial debts | 170/4 | €123,149 | €109,084 | -€14,065 | -11.4% |
| Other amounts payable | 178/9 | €136,253 | €141,769 | +€5,516 | +4.0% |
| Amounts payable within one year | 42/48 | €35,085 | €29,328 | -€5,757 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €16,080 | €16,450 | +€370 | +2.3% |
| Trade debts | 44 | €2,740 | €2,230 | -€510 | -18.6% |
| Suppliers | 440/4 | €2,740 | €2,230 | -€510 | -18.6% |
| Advances received on contracts in progress | 46 | €2,740 | - | -€2,740 | |
| Taxes, remuneration and social security | 45 | €13,525 | €10,648 | -€2,877 | -21.3% |
| Taxes | 450/3 | €13,525 | €10,648 | -€2,877 | -21.3% |
| Accrued charges and deferred income | 492/3 | - | €9,613 | +€9,613 | |
| Turnover | 70 | €43,308 | €44,243 | +€935 | +2.2% |
| Non-recurring operating income | 76A | €1,060 | €320 | -€740 | -69.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €25,793 | €19,749 | -€6,044 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,227 | €35,650 | +€3,423 | +10.6% |
| Other operating charges | 640/8 | €9,831 | €7,572 | -€2,259 | -23.0% |
| Gross operating margin | 9900 | €18,575 | €24,814 | +€6,239 | +33.6% |
| Operating profit (loss) | 9901 | -€23,483 | -€18,408 | +€5,075 | +21.6% |
| Financial charges | 65/66B | €1,835 | €2,752 | +€917 | +50.0% |
| Recurring financial charges | 65 | €1,835 | €2,752 | +€917 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,318 | -€21,160 | +€4,158 | +16.4% |
| Transfer from deferred taxes | 780 | €51,315 | €47,650 | -€3,665 | -7.1% |
| Income taxes | 67/77 | €11,613 | €10,013 | -€1,600 | -13.8% |
| Profit (loss) for the period | 9904 | €14,384 | €16,477 | +€2,093 | +14.6% |
| Transfer from tax-exempt reserves | 789 | €153,945 | €142,949 | -€10,996 | -7.1% |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €168,329 | €159,426 | -€8,903 | -5.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.