Galibier Holding: 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
Galibier Holding
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€231,434
2024 · €748,078-€516,644
Equity
€62.9m
2024 · €56.7m+€6.2m
Cash
€690,065
2024 · €478,521+€211,545
Balance sheet total
€78.5m
2024 · €73.5m+€5.0m
Largest movements
Assets
- Financial fixed assets +€13.5m
up €13.5m (+21.5%), from €62.9m to €76.4m
- Receivables within one year -€8.7m
down €8.7m (-86.4%), from €10.1m to €1.4m
of which Other amounts receivable: -€8.6m
Equity and liabilities
- Contributions +€6.0m
up €6.0m (+10.5%), from €57.0m to €63.0m
- Debts after one year -€1.3m
down €1.3m (-8.7%), from €15.3m to €14.0m
Income statement
- Financial income -€789,360
down €789,360 (-74.7%), from €1.1m to €267,467
- Services and other goods +€624,133
up €624,133 (+55.4%), from €1.1m to €1.8m
- Turnover +€587,745
up €587,745 (+33.9%), from €1.7m to €2.3m
- Financial charges -€309,295
down €309,295 (-34.0%), from €910,633 to €601,338
of which Financial charges: -€311,295
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
€748,078
Turnover
+€587,745
Services and other goods
-€624,133
Other operating charges
-€192
Financial income
-€789,360
Financial charges
+€309,295
Result 2025
€231,434
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
+€9.0m
Investment
-€13.5m
Financing
+€4.7m
Cash 2024
€478,521
From operations (derived)
+€9.0m
Net result for the year
+€231,434
Receivables within one year
+€8.7m
Smaller working-capital items
+€29,712
Trade debts
+€53,150
Investment (derived)
-€13.5m
Investment in fixed assets (net)
-€13.5m
Financing
+€4.7m
Debts after one year
-€1.3m
Current portion of long-term debt
-€0
Contributions, distributions and other
+€6.0m
Cash 2025
€690,065
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,479,992 | €78,461,308 | +€5.0m | +6.8% |
| Fixed assets | 21/28 | €62,895,772 | €76,395,772 | +€13.5m | +21.5% |
| Financial fixed assets | 28 | €62,895,772 | €76,395,772 | +€13.5m | +21.5% |
| Affiliated companies | 280/1 | €62,895,772 | €76,395,772 | +€13.5m | +21.5% |
| Participating interests | 280 | €62,895,772 | €76,395,772 | +€13.5m | +21.5% |
| Current assets | 29/58 | €10,584,220 | €2,065,536 | -€8.5m | -80.5% |
| Amounts receivable within one year | 40/41 | €10,105,700 | €1,375,117 | -€8.7m | -86.4% |
| Trade receivables | 40 | €359,238 | €253,156 | -€106,082 | -29.5% |
| Other amounts receivable | 41 | €9,746,461 | €1,121,960 | -€8.6m | -88.5% |
| Cash at bank and in hand | 54/58 | €478,521 | €690,065 | +€211,545 | +44.2% |
| Deferred charges and accrued income | 490/1 | - | €354 | +€354 | |
| Total equity and liabilities | 10/49 | €73,479,992 | €78,461,308 | +€5.0m | +6.8% |
| Equity | 10/15 | €56,669,585 | €62,901,019 | +€6.2m | +11.0% |
| Contributions | 10/11 | €56,993,772 | €62,993,772 | +€6.0m | +10.5% |
| Capital | 10 | €56,993,772 | €62,993,772 | +€6.0m | +10.5% |
| Issued capital | 100 | €56,993,772 | €62,993,772 | +€6.0m | +10.5% |
| Profit (loss) carried forward | 14 | -€324,187 | -€92,753 | +€231,434 | +71.4% |
| Amounts payable | 17/49 | €16,810,407 | €15,560,289 | -€1.3m | -7.4% |
| Amounts payable after more than one year | 17 | €15,333,333 | €14,000,000 | -€1.3m | -8.7% |
| Financial debts | 170/4 | €15,333,333 | €14,000,000 | -€1.3m | -8.7% |
| Credit institutions | 173 | €15,333,333 | €14,000,000 | -€1.3m | -8.7% |
| Amounts payable within one year | 42/48 | €1,477,074 | €1,560,289 | +€83,215 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €1,333,333 | €1,333,333 | -€0 | 0.0% |
| Trade debts | 44 | €132,795 | €185,945 | +€53,150 | +40.0% |
| Suppliers | 440/4 | €132,795 | €185,945 | +€53,150 | +40.0% |
| Taxes, remuneration and social security | 45 | €10,945 | €11,011 | +€65 | +0.6% |
| Taxes | 450/3 | €10,945 | €11,011 | +€65 | +0.6% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Operating income | 70/76A | €1,731,682 | €2,319,427 | +€587,745 | +33.9% |
| Turnover | 70 | €1,731,682 | €2,319,427 | +€587,745 | +33.9% |
| Operating charges | 60/66A | €1,129,798 | €1,754,122 | +€624,324 | +55.3% |
| Services and other goods | 61 | €1,127,180 | €1,751,313 | +€624,133 | +55.4% |
| Other operating charges | 640/8 | €2,618 | €2,809 | +€192 | +7.3% |
| Operating profit (loss) | 9901 | €601,884 | €565,305 | -€36,579 | -6.1% |
| Financial income | 75/76B | €1,056,826 | €267,467 | -€789,360 | -74.7% |
| Recurring financial income | 75 | €1,056,826 | €267,467 | -€789,360 | -74.7% |
| Income from current assets | 751 | €1,056,826 | €267,467 | -€789,360 | -74.7% |
| Financial charges | 65/66B | €910,633 | €601,338 | -€309,295 | -34.0% |
| Recurring financial charges | 65 | €910,633 | €599,338 | -€311,295 | -34.2% |
| Debt charges | 650 | €885,156 | €573,007 | -€312,149 | -35.3% |
| Other financial charges | 652/9 | €25,477 | €26,331 | +€854 | +3.4% |
| Non-recurring financial charges | 66B | - | €2,000 | +€2,000 | |
| Profit (loss) for the period before taxes | 9903 | €748,078 | €231,434 | -€516,644 | -69.1% |
| Taxes | 670/3 | - | €50,000 | +€50,000 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €50,000 | +€50,000 | |
| Profit (loss) for the period | 9904 | €748,078 | €231,434 | -€516,644 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €748,078 | €231,434 | -€516,644 | -69.1% |
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 25 October 2026 via checked.be.