GALLOO: 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.
What changed
GALLOO
NACE 38.210, Materials recovery from waste
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€23.8m
2024 · €13.0m+€10.8m
Equity
€183.4m
2024 · €180.4m+€3.0m
Cash
€1.2m
2024 · €1.2m+€52,736
Balance sheet total
€354.9m
2024 · €329.6m+€25.2m
Largest movements
Assets
- Current investments +€24.3m
up €24.3m, from €0 to €24.3m
- Stocks and contracts +€14.6m
up €14.6m (+16.8%), from €87.1m to €101.7m
- Receivables within one year -€11.7m
down €11.7m (-9.3%), from €125.2m to €113.6m
of which Trade receivables: -€15.7m
Equity and liabilities
- Other debts +€19.7m
up €19.7m (+226.9%), from €8.7m to €28.4m
- Trade debts +€13.7m
up €13.7m (+23.0%), from €59.6m to €73.4m
- Debts after one year -€5.0m
down €5.0m (-8.8%), from €57.1m to €52.0m
Income statement
- Turnover +€26.1m
up €26.1m (+5.4%), from €487.7m to €513.9m
- Services and other goods +€6.8m
up €6.8m (+9.3%), from €73.6m to €80.4m
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
€13.0m
Turnover
+€26.1m
Other operating income
-€686,603
Goods and materials
+€4.4m
Services and other goods
-€6.8m
Staff costs
-€1.0m
Depreciation
+€939,596
Write-downs
-€62,807
Provisions
+€2.1m
Other operating charges
+€139,911
Other operating items
-€5.7m
Financial income
-€1.2m
Financial charges
-€4.4m
Taxes
-€3.0m
Result 2025
€23.8m
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.
From operations
+€65.8m
Investment
-€37.7m
Financing
-€28.1m
Cash 2024
€1.2m
From operations (derived)
+€65.8m
Net result for the year
+€23.8m
Depreciation
+€15.3m
Stocks and contracts
-€14.6m
Receivables within one year
+€11.7m
Deferred charges and accrued income
+€217,623
Provisions
-€1.4m
Trade debts
+€13.7m
Tax, wage and social debts
+€127,386
Advances received
-€322,952
Other debts
+€19.7m
Accrued charges and deferred income
-€2.3m
Investment (derived)
-€37.7m
Investment in fixed assets (net)
-€13.5m
Current investments
-€24.3m
Financing
-€28.1m
Debts after one year
-€5.0m
Current portion of long-term debt
-€2.3m
Contributions, distributions and other
-€20.8m
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €329,639,150 | €354,877,719 | +€25.2m | +7.7% |
| Fixed assets | 21/28 | €115,630,372 | €113,843,556 | -€1.8m | -1.5% |
| Intangible fixed assets | 21 | €2,264,116 | €1,595,971 | -€668,145 | -29.5% |
| Tangible fixed assets | 22/27 | €68,313,465 | €67,186,083 | -€1.1m | -1.7% |
| Land and buildings | 22 | €28,380,492 | €29,211,635 | +€831,143 | +2.9% |
| Plant, machinery and equipment | 23 | €32,360,121 | €31,859,735 | -€500,386 | -1.5% |
| Furniture and vehicles | 24 | €7,572,852 | €6,114,714 | -€1.5m | -19.3% |
| Financial fixed assets | 28 | €45,052,791 | €45,061,501 | +€8,710 | 0.0% |
| Affiliated companies | 280/1 | €45,000,000 | €45,000,000 | = | 0.0% |
| Amounts receivable | 281 | €45,000,000 | €45,000,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €52,791 | €61,501 | +€8,710 | +16.5% |
| Amounts receivable and cash guarantees | 285/8 | €52,791 | €61,501 | +€8,710 | +16.5% |
| Current assets | 29/58 | €214,008,777 | €241,034,163 | +€27.0m | +12.6% |
| Stocks and contracts in progress | 3 | €87,056,953 | €101,668,865 | +€14.6m | +16.8% |
| Stocks | 30/36 | €87,056,953 | €101,668,865 | +€14.6m | +16.8% |
| Raw materials and consumables | 30/31 | €56,134,568 | €65,067,471 | +€8.9m | +15.9% |
| Work in progress | 32 | €60,715 | €40,420 | -€20,295 | -33.4% |
| Finished goods | 33 | €30,156,760 | €35,445,030 | +€5.3m | +17.5% |
| Advance payments | 36 | €704,909 | €1,115,944 | +€411,035 | +58.3% |
| Amounts receivable within one year | 40/41 | €125,238,632 | €113,561,673 | -€11.7m | -9.3% |
| Trade receivables | 40 | €62,715,847 | €46,991,683 | -€15.7m | -25.1% |
| Other amounts receivable | 41 | €62,522,785 | €66,569,990 | +€4.0m | +6.5% |
| Current investments | 50/53 | €0 | €24,255,319 | +€24.3m | |
| Other investments | 51/53 | €0 | €24,255,319 | +€24.3m | |
| Cash at bank and in hand | 54/58 | €1,176,880 | €1,229,616 | +€52,736 | +4.5% |
| Deferred charges and accrued income | 490/1 | €536,313 | €318,690 | -€217,623 | -40.6% |
| Total equity and liabilities | 10/49 | €329,639,150 | €354,877,719 | +€25.2m | +7.7% |
| Equity | 10/15 | €180,361,046 | €183,372,338 | +€3.0m | +1.7% |
| Contributions | 10/11 | €2,764,244 | €2,764,244 | = | 0.0% |
| Capital | 10 | €2,764,244 | €2,764,244 | = | 0.0% |
| Issued capital | 100 | €2,764,244 | €2,764,244 | = | 0.0% |
| Reserves | 13 | €176,611,984 | €179,979,576 | +€3.4m | +1.9% |
| Non-distributable reserves | 130/1 | €276,424 | €276,424 | = | 0.0% |
| Legal reserve | 130 | €276,424 | €276,424 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,289,957 | €47,628,735 | +€338,779 | +0.7% |
| Distributable reserves | 133 | €129,045,603 | €132,074,417 | +€3.0m | +2.3% |
| Investment grants | 15 | €984,818 | €628,518 | -€356,300 | -36.2% |
| Provisions and deferred taxes | 16 | €2,190,322 | €741,302 | -€1.4m | -66.2% |
| Provisions for liabilities and charges | 160/5 | €2,190,322 | €741,302 | -€1.4m | -66.2% |
| Major repairs and maintenance | 162 | €2,190,322 | - | -€2.2m | |
| Other liabilities and charges | 164/5 | - | €741,302 | +€741,302 | |
| Amounts payable | 17/49 | €147,087,782 | €170,764,079 | +€23.7m | +16.1% |
| Amounts payable after more than one year | 17 | €57,083,837 | €52,048,817 | -€5.0m | -8.8% |
| Financial debts | 170/4 | €57,083,837 | €52,048,817 | -€5.0m | -8.8% |
| Credit institutions | 173 | €34,416,691 | €32,991,671 | -€1.4m | -4.1% |
| Other loans | 174 | €22,667,146 | €19,057,146 | -€3.6m | -15.9% |
| Amounts payable within one year | 42/48 | €87,383,207 | €118,376,627 | +€31.0m | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €13,415,284 | €11,148,352 | -€2.3m | -16.9% |
| Trade debts | 44 | €59,632,933 | €73,353,449 | +€13.7m | +23.0% |
| Suppliers | 440/4 | €59,632,933 | €73,353,449 | +€13.7m | +23.0% |
| Advances received on contracts in progress | 46 | €2,436,760 | €2,113,808 | -€322,952 | -13.3% |
| Taxes, remuneration and social security | 45 | €3,199,903 | €3,327,289 | +€127,386 | +4.0% |
| Taxes | 450/3 | €486,309 | €404,194 | -€82,115 | -16.9% |
| Remuneration and social security | 454/9 | €2,713,594 | €2,923,095 | +€209,501 | +7.7% |
| Other amounts payable | 47/48 | €8,698,327 | €28,433,729 | +€19.7m | +226.9% |
| Accrued charges and deferred income | 492/3 | €2,620,737 | €338,635 | -€2.3m | -87.1% |
| Operating income | 70/76A | €508,091,340 | €527,911,004 | +€19.8m | +3.9% |
| Turnover | 70 | €487,740,465 | €513,881,754 | +€26.1m | +5.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €10,921,071 | €5,288,270 | -€5.6m | -51.6% |
| Other operating income | 74 | €9,291,263 | €8,604,660 | -€686,603 | -7.4% |
| Non-recurring operating income | 76A | €138,540 | €136,320 | -€2,220 | -1.6% |
| Operating charges | 60/66A | €494,711,265 | €495,121,267 | +€410,002 | +0.1% |
| Goods for resale, raw materials and consumables | 60 | €384,040,049 | €379,612,669 | -€4.4m | -1.2% |
| Purchases | 600/8 | €389,688,990 | €388,768,126 | -€920,864 | -0.2% |
| Change in stocks: decrease (increase) | 609 | -€5,648,941 | -€9,155,457 | -€3.5m | -62.1% |
| Services and other goods | 61 | €73,578,428 | €80,387,168 | +€6.8m | +9.3% |
| Remuneration, social security and pensions | 62 | €19,588,857 | €20,611,881 | +€1.0m | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,205,072 | €15,265,477 | -€939,596 | -5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€62,807 | €0 | +€62,807 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €632,926 | -€1,449,020 | -€2.1m | |
| Other operating charges | 640/8 | €668,873 | €528,962 | -€139,911 | -20.9% |
| Non-recurring operating charges | 66A | €59,866 | €164,130 | +€104,264 | +174.2% |
| Operating profit (loss) | 9901 | €13,380,075 | €32,789,737 | +€19.4m | +145.1% |
| Financial income | 75/76B | €6,253,210 | €5,019,572 | -€1.2m | -19.7% |
| Recurring financial income | 75 | €6,253,210 | €5,019,572 | -€1.2m | -19.7% |
| Income from current assets | 751 | €4,296,002 | €2,342,168 | -€2.0m | -45.5% |
| Other financial income | 752/9 | €1,957,207 | €2,677,403 | +€720,196 | +36.8% |
| Financial charges | 65/66B | €3,971,643 | €8,343,308 | +€4.4m | +110.1% |
| Recurring financial charges | 65 | €3,954,665 | €8,343,308 | +€4.4m | +111.0% |
| Debt charges | 650 | €3,113,971 | €3,318,008 | +€204,037 | +6.6% |
| Other financial charges | 652/9 | €840,694 | €5,025,300 | +€4.2m | +497.8% |
| Non-recurring financial charges | 66B | €16,978 | €0 | -€16,978 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €15,661,642 | €29,466,001 | +€13.8m | +88.1% |
| Income taxes | 67/77 | €2,671,812 | €5,697,998 | +€3.0m | +113.3% |
| Taxes | 670/3 | €2,671,812 | €5,697,998 | +€3.0m | +113.3% |
| Profit (loss) for the period | 9904 | €12,989,829 | €23,768,002 | +€10.8m | +83.0% |
| Transfer from tax-exempt reserves | 789 | €1,999,750 | €656,760 | -€1.3m | -67.2% |
| Transfer to tax-exempt reserves | 689 | €1,028,739 | €995,539 | -€33,201 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,960,840 | €23,429,224 | +€9.5m | +67.8% |
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 8 October 2026 via checked.be.