GALICO: 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
GALICO
NACE 46.841, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€297,567
2024 · €7,501+€290,066
Equity
€7.9m
2024 · €7.6m+€297,567
Cash
€896,423
2024 · €630,559+€265,864
Balance sheet total
€15.3m
2024 · €15.4m-€99,861
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-16.1%), from €6.2m to €5.2m
- Tangible fixed assets +€759,958
up €759,958 (+14.5%), from €5.2m to €6.0m
of which Assets under construction and advance payments: +€1.3m
- Current investments -€384,039
down €384,039 (-100%), from €384,039 to €0
- Intangible fixed assets +€367,176
up €367,176 (+125%), from €293,601 to €660,777
- Cash +€265,864
up €265,864 (+42.2%), from €630,559 to €896,423
mainly Stocks and contracts (+€1.0m) and Depreciation (+€780,069)
Equity and liabilities
- Reserves +€297,567
up €297,567 (+4.0%), from €7.5m to €7.8m
of which Distributable reserves: +€508,067
- Short-term financial debts -€212,500
down €212,500 (-15.2%), from €1.4m to €1.2m
- Debts after one year -€206,623
down €206,623 (-5.7%), from €3.6m to €3.4m
Income statement
- Services and other goods -€739,546
down €739,546 (-12.7%), from €5.8m to €5.1m
- Turnover -€531,835
down €531,835 (-3.1%), from €17.0m to €16.5m
- Goods and materials -€353,715
down €353,715 (-4.1%), from €8.7m to €8.4m
of which Purchases: -€2.1m
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
€7,501
Turnover
-€531,835
Other operating income
-€33,860
Goods and materials
+€353,715
Services and other goods
+€739,546
Staff costs
+€101,059
Depreciation
-€62,957
Write-downs
-€7,927
Other operating charges
-€38,423
Other operating items
-€3,104
Financial income
-€53,382
Financial charges
-€80,861
Taxes
-€91,904
Result 2025
€297,567
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
+€2.3m
Investment
-€1.5m
Financing
-€516,598
Cash 2024
€630,559
From operations (derived)
+€2.3m
Net result for the year
+€297,567
Depreciation
+€780,069
Stocks and contracts
+€1.0m
Receivables within one year
+€107,220
Smaller working-capital items
-€2,253
Trade debts
+€27,649
Tax, wage and social debts
+€78,586
Other debts
+€14,105
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€1.9m
Current investments
+€384,039
Financing
-€516,598
Debts after one year
-€206,623
Current portion of long-term debt
-€97,475
Short-term financial debts
-€212,500
Cash 2025
€896,423
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,404,626 | €15,304,765 | -€99,861 | -0.6% |
| Fixed assets | 21/28 | €5,558,226 | €6,685,359 | +€1.1m | +20.3% |
| Intangible fixed assets | 21 | €293,601 | €660,777 | +€367,176 | +125% |
| Tangible fixed assets | 22/27 | €5,244,186 | €6,004,143 | +€759,958 | +14.5% |
| Land and buildings | 22 | €4,632,861 | €4,176,973 | -€455,888 | -9.8% |
| Plant, machinery and equipment | 23 | €265,480 | €216,103 | -€49,376 | -18.6% |
| Furniture and vehicles | 24 | €97,230 | €90,601 | -€6,629 | -6.8% |
| Leasing and similar rights | 25 | €165,974 | €124,137 | -€41,837 | -25.2% |
| Assets under construction and advance payments | 27 | €82,641 | €1,396,329 | +€1.3m | +1,590% |
| Financial fixed assets | 28 | €20,439 | €20,439 | = | 0.0% |
| Other financial fixed assets | 284/8 | €20,439 | €20,439 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €20,439 | €20,439 | = | 0.0% |
| Current assets | 29/58 | €9,846,400 | €8,619,406 | -€1.2m | -12.5% |
| Stocks and contracts in progress | 3 | €6,233,432 | €5,230,751 | -€1.0m | -16.1% |
| Stocks | 30/36 | €6,233,432 | €5,230,751 | -€1.0m | -16.1% |
| Goods purchased for resale | 34 | €5,541,812 | €4,594,541 | -€947,271 | -17.1% |
| Advance payments | 36 | €691,620 | €636,210 | -€55,410 | -8.0% |
| Amounts receivable within one year | 40/41 | €2,525,198 | €2,417,978 | -€107,220 | -4.2% |
| Trade receivables | 40 | €2,264,409 | €2,386,107 | +€121,698 | +5.4% |
| Other amounts receivable | 41 | €260,789 | €31,871 | -€228,918 | -87.8% |
| Current investments | 50/53 | €384,039 | €0 | -€384,039 | -100% |
| Other investments | 51/53 | €384,039 | €0 | -€384,039 | -100% |
| Cash at bank and in hand | 54/58 | €630,559 | €896,423 | +€265,864 | +42.2% |
| Deferred charges and accrued income | 490/1 | €73,172 | €74,254 | +€1,083 | +1.5% |
| Total equity and liabilities | 10/49 | €15,404,626 | €15,304,765 | -€99,861 | -0.6% |
| Equity | 10/15 | €7,636,250 | €7,933,818 | +€297,567 | +3.9% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €7,512,304 | €7,809,871 | +€297,567 | +4.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,066,150 | €855,650 | -€210,500 | -19.7% |
| Distributable reserves | 133 | €6,433,759 | €6,941,826 | +€508,067 | +7.9% |
| Amounts payable | 17/49 | €7,768,376 | €7,370,948 | -€397,428 | -5.1% |
| Amounts payable after more than one year | 17 | €3,603,165 | €3,396,543 | -€206,623 | -5.7% |
| Financial debts | 170/4 | €3,603,165 | €3,396,543 | -€206,623 | -5.7% |
| Leasing and similar obligations | 172 | €104,824 | €51,235 | -€53,589 | -51.1% |
| Credit institutions | 173 | €3,498,341 | €3,345,308 | -€153,034 | -4.4% |
| Amounts payable within one year | 42/48 | €4,155,079 | €3,965,444 | -€189,635 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €840,884 | €743,409 | -€97,475 | -11.6% |
| Financial debts | 43 | €1,400,000 | €1,187,500 | -€212,500 | -15.2% |
| Credit institutions | 430/8 | €1,400,000 | €1,187,500 | -€212,500 | -15.2% |
| Trade debts | 44 | €1,437,649 | €1,465,298 | +€27,649 | +1.9% |
| Suppliers | 440/4 | €1,437,649 | €1,465,298 | +€27,649 | +1.9% |
| Taxes, remuneration and social security | 45 | €307,700 | €386,286 | +€78,586 | +25.5% |
| Taxes | 450/3 | €111,915 | €193,911 | +€81,997 | +73.3% |
| Remuneration and social security | 454/9 | €195,785 | €192,374 | -€3,411 | -1.7% |
| Other amounts payable | 47/48 | €168,846 | €182,951 | +€14,105 | +8.4% |
| Accrued charges and deferred income | 492/3 | €10,131 | €8,961 | -€1,170 | -11.6% |
| Operating income | 70/76A | €17,075,672 | €16,510,113 | -€565,559 | -3.3% |
| Turnover | 70 | €17,001,518 | €16,469,683 | -€531,835 | -3.1% |
| Other operating income | 74 | €74,154 | €40,294 | -€33,860 | -45.7% |
| Non-recurring operating income | 76A | - | €135 | +€135 | |
| Operating charges | 60/66A | €16,875,523 | €15,793,750 | -€1.1m | -6.4% |
| Goods for resale, raw materials and consumables | 60 | €8,704,178 | €8,350,463 | -€353,715 | -4.1% |
| Purchases | 600/8 | €9,538,088 | €7,448,087 | -€2.1m | -21.9% |
| Change in stocks: decrease (increase) | 609 | -€833,910 | €902,376 | +€1.7m | |
| Services and other goods | 61 | €5,814,303 | €5,074,757 | -€739,546 | -12.7% |
| Remuneration, social security and pensions | 62 | €1,563,624 | €1,462,565 | -€101,059 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €717,112 | €780,069 | +€62,957 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,968 | €44,895 | +€7,927 | +21.4% |
| Other operating charges | 640/8 | €39,338 | €77,761 | +€38,423 | +97.7% |
| Non-recurring operating charges | 66A | - | €3,239 | +€3,239 | |
| Operating profit (loss) | 9901 | €200,149 | €716,363 | +€516,214 | +258% |
| Financial income | 75/76B | €165,022 | €111,640 | -€53,382 | -32.3% |
| Recurring financial income | 75 | €165,022 | €111,640 | -€53,382 | -32.3% |
| Income from current assets | 751 | €7,434 | €14,975 | +€7,540 | +101% |
| Other financial income | 752/9 | €157,588 | €96,665 | -€60,923 | -38.7% |
| Financial charges | 65/66B | €337,512 | €418,373 | +€80,861 | +24.0% |
| Recurring financial charges | 65 | €337,512 | €418,373 | +€80,861 | +24.0% |
| Debt charges | 650 | €93,138 | €98,451 | +€5,313 | +5.7% |
| Other financial charges | 652/9 | €244,374 | €319,922 | +€75,549 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €27,660 | €409,630 | +€381,971 | +1,381% |
| Income taxes | 67/77 | €20,159 | €112,063 | +€91,904 | +456% |
| Taxes | 670/3 | €20,159 | €112,063 | +€91,904 | +456% |
| Profit (loss) for the period | 9904 | €7,501 | €297,567 | +€290,066 | +3,867% |
| Transfer from tax-exempt reserves | 789 | - | €210,500 | +€210,500 | |
| Transfer to tax-exempt reserves | 689 | €168,400 | €0 | -€168,400 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€160,899 | €508,067 | +€668,966 |
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 15 October 2026 via checked.be.