GALMART - VAN LATHEM: what changed
GALMART - VAN LATHEM
Largest movements
- Receivables within one year -€852,586
down €852,586 (-93.2%), from €915,096 to €62,510
of which Trade receivables: -€736,205
- Tangible fixed assets +€688,616
up €688,616 (+88.5%), from €778,386 to €1.5m
of which Land and buildings: +€698,825
- Current investments +€350,000
new in 2025: €350,000
- Cash -€107,346
down €107,346 (-39.2%), from €273,535 to €166,189
mainly Investment in fixed assets (net) (-€747,751) and Current investments (-€350,000)
- Reserves +€76,631
up €76,631 (+1.9%), from €4.1m to €4.1m
of which Distributable reserves: +€76,631
- Financial income -€29,750
down €29,750 (-89.6%), from €33,216 to €3,466
- Staff costs +€21,933
up €21,933 (+5.7%), from €383,421 to €405,354
- Depreciation +€19,358
up €19,358 (+48.7%), from €39,778 to €59,136
- Financial charges -€14,272
down €14,272 (-94.0%), from €15,182 to €910
- Taxes -€13,662
down €13,662 (-31.2%), from €43,858 to €30,196
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,212,228 | €4,282,567 | +€70,339 | +1.7% |
| Fixed assets | 21/28 | €3,013,337 | €3,701,953 | +€688,616 | +22.9% |
| Tangible fixed assets | 22/27 | €778,386 | €1,467,002 | +€688,616 | +88.5% |
| Land and buildings | 22 | €722,224 | €1,421,049 | +€698,825 | +96.8% |
| Furniture and vehicles | 24 | €35,662 | €25,453 | -€10,209 | -28.6% |
| Other tangible fixed assets | 26 | €20,500 | €20,500 | = | 0.0% |
| Financial fixed assets | 28 | €2,234,951 | €2,234,951 | = | 0.0% |
| Current assets | 29/58 | €1,198,891 | €580,615 | -€618,276 | -51.6% |
| Amounts receivable within one year | 40/41 | €915,096 | €62,510 | -€852,586 | -93.2% |
| Trade receivables | 40 | €795,872 | €59,666 | -€736,205 | -92.5% |
| Other amounts receivable | 41 | €119,224 | €2,843 | -€116,381 | -97.6% |
| Current investments | 50/53 | - | €350,000 | +€350,000 | |
| Cash at bank and in hand | 54/58 | €273,535 | €166,189 | -€107,346 | -39.2% |
| Deferred charges and accrued income | 490/1 | €10,260 | €1,916 | -€8,344 | -81.3% |
| Total equity and liabilities | 10/49 | €4,212,228 | €4,282,567 | +€70,339 | +1.7% |
| Equity | 10/15 | €4,119,264 | €4,195,895 | +€76,631 | +1.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,057,764 | €4,134,395 | +€76,631 | +1.9% |
| Non-distributable reserves | 130/1 | €56,200 | €56,200 | = | 0.0% |
| Legal reserve | 130 | €56,200 | €56,200 | = | 0.0% |
| Distributable reserves | 133 | €4,001,564 | €4,078,195 | +€76,631 | +1.9% |
| Amounts payable | 17/49 | €92,964 | €86,672 | -€6,292 | -6.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €92,964 | €86,672 | -€6,292 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €34,507 | €24,808 | -€9,699 | -28.1% |
| Suppliers | 440/4 | €34,507 | €24,808 | -€9,699 | -28.1% |
| Taxes, remuneration and social security | 45 | €58,457 | €61,864 | +€3,407 | +5.8% |
| Taxes | 450/3 | €8,524 | €4,156 | -€4,367 | -51.2% |
| Remuneration and social security | 454/9 | €49,933 | €57,708 | +€7,774 | +15.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €383,421 | €405,354 | +€21,933 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,778 | €59,136 | +€19,358 | +48.7% |
| Other operating charges | 640/8 | €5,741 | €6,610 | +€869 | +15.1% |
| Gross operating margin | 9900 | €571,148 | €575,370 | +€4,222 | +0.7% |
| Operating profit (loss) | 9901 | €142,208 | €104,271 | -€37,937 | -26.7% |
| Financial income | 75/76B | €33,216 | €3,466 | -€29,750 | -89.6% |
| Recurring financial income | 75 | €33,216 | €3,466 | -€29,750 | -89.6% |
| Financial charges | 65/66B | €15,182 | €910 | -€14,272 | -94.0% |
| Recurring financial charges | 65 | €15,182 | €910 | -€14,272 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €160,243 | €106,827 | -€53,416 | -33.3% |
| Income taxes | 67/77 | €43,858 | €30,196 | -€13,662 | -31.2% |
| Profit (loss) for the period | 9904 | €116,385 | €76,631 | -€39,754 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €116,385 | €76,631 | -€39,754 | -34.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.