GALM: 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.
GALM
Largest movements
- Receivables within one year +€65,286
up €65,286 (+256.3%), from €25,469 to €90,755
of which Trade receivables: +€72,600
- Current investments -€50,596
down €50,596 (-90.4%), from €55,956 to €5,359
- Cash -€4,948
down €4,948 (-47.9%), from €10,337 to €5,389
mainly Contributions, distributions and other (-€76,091) and Receivables within one year (-€65,286)
- Tangible fixed assets +€1,867
up €1,867 (+13.4%), from €13,900 to €15,768
of which Other tangible fixed assets: +€6,713
- Other debts +€21,268
up €21,268 (+31.5%), from €67,444 to €88,713
- Tax, wage and social debts -€8,393
down €8,393 (-44.4%), from €18,891 to €10,498
- Reserves -€1,860
down €1,860 (-100.0%), from €1,860 to €0
- Gross operating margin +€10,568
up €10,568 (+10.4%), from €101,752 to €112,320
- Taxes +€9,159
up €9,159 (+40.0%), from €22,889 to €32,048
- Depreciation +€1,471
up €1,471 (+38.1%), from €3,864 to €5,335
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €108,389 | €120,163 | +€11,774 | +10.9% |
| Fixed assets | 21/28 | €13,900 | €15,768 | +€1,867 | +13.4% |
| Tangible fixed assets | 22/27 | €13,900 | €15,768 | +€1,867 | +13.4% |
| Furniture and vehicles | 24 | €13,900 | €9,055 | -€4,846 | -34.9% |
| Other tangible fixed assets | 26 | €0 | €6,713 | +€6,713 | |
| Current assets | 29/58 | €94,489 | €104,395 | +€9,906 | +10.5% |
| Amounts receivable within one year | 40/41 | €25,469 | €90,755 | +€65,286 | +256.3% |
| Trade receivables | 40 | €18,150 | €90,750 | +€72,600 | +400.0% |
| Other amounts receivable | 41 | €7,319 | €5 | -€7,314 | -99.9% |
| Current investments | 50/53 | €55,956 | €5,359 | -€50,596 | -90.4% |
| Cash at bank and in hand | 54/58 | €10,337 | €5,389 | -€4,948 | -47.9% |
| Deferred charges and accrued income | 490/1 | €2,727 | €2,892 | +€165 | +6.0% |
| Total equity and liabilities | 10/49 | €108,389 | €120,163 | +€11,774 | +10.9% |
| Equity | 10/15 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €87,929 | €101,563 | +€13,634 | +15.5% |
| Amounts payable within one year | 42/48 | €87,929 | €101,563 | +€13,634 | +15.5% |
| Financial debts | 43 | €33 | €0 | -€33 | -100.0% |
| Credit institutions | 430/8 | €33 | €0 | -€33 | -100.0% |
| Trade debts | 44 | €1,560 | €2,352 | +€792 | +50.8% |
| Suppliers | 440/4 | €1,560 | €2,352 | +€792 | +50.8% |
| Taxes, remuneration and social security | 45 | €18,891 | €10,498 | -€8,393 | -44.4% |
| Taxes | 450/3 | €18,891 | €10,498 | -€8,393 | -44.4% |
| Other amounts payable | 47/48 | €67,444 | €88,713 | +€21,268 | +31.5% |
| Non-recurring operating income | 76A | €1,373 | €0 | -€1,373 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,864 | €5,335 | +€1,471 | +38.1% |
| Other operating charges | 640/8 | €1,470 | €981 | -€489 | -33.3% |
| Gross operating margin | 9900 | €101,752 | €112,320 | +€10,568 | +10.4% |
| Operating profit (loss) | 9901 | €96,418 | €106,004 | +€9,586 | +9.9% |
| Financial income | 75/76B | €3 | €31 | +€28 | +859.8% |
| Recurring financial income | 75 | €3 | €31 | +€28 | +859.8% |
| Financial charges | 65/66B | -€178 | -€244 | -€66 | -37.2% |
| Recurring financial charges | 65 | -€178 | -€244 | -€66 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €96,599 | €106,279 | +€9,680 | +10.0% |
| Income taxes | 67/77 | €22,889 | €32,048 | +€9,159 | +40.0% |
| Profit (loss) for the period | 9904 | €73,710 | €74,231 | +€521 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,710 | €74,231 | +€521 | +0.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.