GALMART - BORREMANS: 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.
GALMART - BORREMANS
Largest movements
- Cash -€108,914
down €108,914 (-52.2%), from €208,664 to €99,750
mainly Contributions, distributions and other (-€130,000) and Receivables within one year (-€67,184)
- Receivables within one year +€67,184
up €67,184 (+12.8%), from €524,904 to €592,088
of which Trade receivables: +€43,483
- Stocks and contracts +€41,620
up €41,620 (+11.0%), from €377,990 to €419,610
- Other debts +€34,931
up €34,931 (+19.9%), from €175,946 to €210,877
- Tax, wage and social debts -€29,461
down €29,461 (-42.8%), from €68,791 to €39,331
of which Taxes: -€33,068
- Staff costs +€23,932
up €23,932 (+9.4%), from €254,876 to €278,808
- Taxes -€8,454
down €8,454 (-15.6%), from €54,274 to €45,820
- Gross operating margin -€6,487
down €6,487 (-1.4%), from €477,310 to €470,823
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 | €1,157,378 | €1,162,316 | +€4,938 | +0.4% |
| Fixed assets | 21/28 | €43,216 | €42,041 | -€1,176 | -2.7% |
| Tangible fixed assets | 22/27 | €38,216 | €37,041 | -€1,176 | -3.1% |
| Land and buildings | 22 | €23,547 | €24,888 | +€1,342 | +5.7% |
| Plant, machinery and equipment | 23 | €1,108 | €703 | -€404 | -36.5% |
| Furniture and vehicles | 24 | €13,562 | €11,449 | -€2,113 | -15.6% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €1,114,161 | €1,120,275 | +€6,114 | +0.5% |
| Stocks and contracts in progress | 3 | €377,990 | €419,610 | +€41,620 | +11.0% |
| Stocks | 30/36 | €377,990 | €419,610 | +€41,620 | +11.0% |
| Amounts receivable within one year | 40/41 | €524,904 | €592,088 | +€67,184 | +12.8% |
| Trade receivables | 40 | €156,755 | €200,238 | +€43,483 | +27.7% |
| Other amounts receivable | 41 | €368,149 | €391,850 | +€23,701 | +6.4% |
| Cash at bank and in hand | 54/58 | €208,664 | €99,750 | -€108,914 | -52.2% |
| Deferred charges and accrued income | 490/1 | €2,603 | €8,828 | +€6,225 | +239% |
| Total equity and liabilities | 10/49 | €1,157,378 | €1,162,316 | +€4,938 | +0.4% |
| Equity | 10/15 | €704,662 | €711,076 | +€6,414 | +0.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €686,070 | €692,484 | +€6,414 | +0.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €684,211 | €690,625 | +€6,414 | +0.9% |
| Amounts payable | 17/49 | €452,715 | €451,240 | -€1,476 | -0.3% |
| Amounts payable within one year | 42/48 | €452,715 | €451,240 | -€1,476 | -0.3% |
| Trade debts | 44 | €207,979 | €201,032 | -€6,946 | -3.3% |
| Suppliers | 440/4 | €207,979 | €201,032 | -€6,946 | -3.3% |
| Taxes, remuneration and social security | 45 | €68,791 | €39,331 | -€29,461 | -42.8% |
| Taxes | 450/3 | €40,099 | €7,031 | -€33,068 | -82.5% |
| Remuneration and social security | 454/9 | €28,692 | €32,299 | +€3,608 | +12.6% |
| Other amounts payable | 47/48 | €175,946 | €210,877 | +€34,931 | +19.9% |
| Remuneration, social security and pensions | 62 | €254,876 | €278,808 | +€23,932 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,564 | €8,888 | +€1,324 | +17.5% |
| Other operating charges | 640/8 | €1,409 | €1,601 | +€191 | +13.6% |
| Gross operating margin | 9900 | €477,310 | €470,823 | -€6,487 | -1.4% |
| Operating profit (loss) | 9901 | €213,460 | €181,526 | -€31,934 | -15.0% |
| Financial income | 75/76B | €1,868 | €1,347 | -€521 | -27.9% |
| Recurring financial income | 75 | €1,868 | €1,347 | -€521 | -27.9% |
| Financial charges | 65/66B | €398 | €640 | +€242 | +60.7% |
| Recurring financial charges | 65 | €398 | €640 | +€242 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €214,930 | €182,234 | -€32,697 | -15.2% |
| Income taxes | 67/77 | €54,274 | €45,820 | -€8,454 | -15.6% |
| Profit (loss) for the period | 9904 | €160,656 | €136,414 | -€24,242 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €160,656 | €136,414 | -€24,242 | -15.1% |
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 1 November 2026 via checked.be.