Galleon: 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.
Galleon
Largest movements
- Cash -€174,612
down €174,612 (-97.7%), from €178,813 to €4,201
mainly Other debts (-€69,615) and Contributions, distributions and other (-€65,107)
- Receivables within one year +€57,826
up €57,826 (+86.3%), from €66,990 to €124,817
of which Trade receivables: +€55,989
- Tangible fixed assets +€18,257
up €18,257 (+54.0%), from €33,785 to €52,043
of which Furniture and vehicles: +€14,330
- Other debts -€69,615
down €69,615 (-45.3%), from €153,671 to €84,055
- Tax, wage and social debts -€31,396
down €31,396 (-51.4%), from €61,066 to €29,670
- Gross operating margin -€30,557
down €30,557 (-21.8%), from €140,161 to €109,604
- Taxes -€9,998
down €9,998 (-28.9%), from €34,573 to €24,575
- Depreciation +€4,164
up €4,164 (+29.4%), from €14,155 to €18,319
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €280,148 | €183,911 | -€96,237 | -34.4% |
| Fixed assets | 21/28 | €33,785 | €52,043 | +€18,257 | +54.0% |
| Tangible fixed assets | 22/27 | €33,785 | €52,043 | +€18,257 | +54.0% |
| Plant, machinery and equipment | 23 | €372 | €3,351 | +€2,979 | +800% |
| Furniture and vehicles | 24 | €25,553 | €39,884 | +€14,330 | +56.1% |
| Other tangible fixed assets | 26 | €7,860 | €8,808 | +€948 | +12.1% |
| Current assets | 29/58 | €246,362 | €131,868 | -€114,494 | -46.5% |
| Amounts receivable within one year | 40/41 | €66,990 | €124,817 | +€57,826 | +86.3% |
| Trade receivables | 40 | €16,611 | €72,600 | +€55,989 | +337% |
| Other amounts receivable | 41 | €50,380 | €52,217 | +€1,837 | +3.6% |
| Cash at bank and in hand | 54/58 | €178,813 | €4,201 | -€174,612 | -97.7% |
| Deferred charges and accrued income | 490/1 | €559 | €2,850 | +€2,292 | +410% |
| Total equity and liabilities | 10/49 | €280,148 | €183,911 | -€96,237 | -34.4% |
| Equity | 10/15 | €46,690 | €46,690 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,690 | €45,690 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €45,590 | €45,590 | = | 0.0% |
| Amounts payable | 17/49 | €233,458 | €137,221 | -€96,237 | -41.2% |
| Amounts payable after more than one year | 17 | €8,815 | €10,596 | +€1,780 | +20.2% |
| Financial debts | 170/4 | €8,815 | €10,596 | +€1,780 | +20.2% |
| Amounts payable within one year | 42/48 | €224,643 | €126,626 | -€98,017 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €9,600 | €11,934 | +€2,334 | +24.3% |
| Trade debts | 44 | €306 | €967 | +€661 | +216% |
| Suppliers | 440/4 | €306 | €967 | +€661 | +216% |
| Taxes, remuneration and social security | 45 | €61,066 | €29,670 | -€31,396 | -51.4% |
| Taxes | 450/3 | €61,066 | €29,670 | -€31,396 | -51.4% |
| Other amounts payable | 47/48 | €153,671 | €84,055 | -€69,615 | -45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,155 | €18,319 | +€4,164 | +29.4% |
| Other operating charges | 640/8 | €1,028 | €756 | -€272 | -26.4% |
| Gross operating margin | 9900 | €140,161 | €109,604 | -€30,557 | -21.8% |
| Operating profit (loss) | 9901 | €124,978 | €90,529 | -€34,449 | -27.6% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €1,164 | €850 | -€314 | -27.0% |
| Recurring financial charges | 65 | €1,164 | €850 | -€314 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €123,814 | €89,682 | -€34,132 | -27.6% |
| Income taxes | 67/77 | €34,573 | €24,575 | -€9,998 | -28.9% |
| Profit (loss) for the period | 9904 | €89,241 | €65,107 | -€24,134 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €89,241 | €65,107 | -€24,134 | -27.0% |
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 30 October 2026 via checked.be.