GALMERA: 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.
GALMERA
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€22,940
down €22,940 (-47.3%), from €48,480 to €25,540
mainly Current investments (-€100,000) and Current portion of long-term debt (-€55,666)
- Tangible fixed assets -€20,216
down €20,216 (-1.5%), from €1.3m to €1.3m
- Reserves +€96,535
up €96,535 (+10.4%), from €932,483 to €1.0m
of which Distributable reserves: +€96,535
- Current portion of long-term debt -€55,666
down €55,666 (-66.7%), from €83,497 to €27,831
- Debts after one year -€27,311
no longer reported in 2025 (was €27,311)
- Trade debts +€19,009
up €19,009 (+52092.5%), from €36 to €19,045
- Other debts +€17,911
up €17,911 (+4.7%), from €377,869 to €395,780
- Gross operating margin +€32,460
up €32,460 (+8.4%), from €387,780 to €420,240
- Staff costs +€20,395
up €20,395 (+11.1%), from €183,877 to €204,272
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 | €1,539,476 | €1,584,280 | +€44,804 | +2.9% |
| Fixed assets | 21/28 | €1,344,210 | €1,323,994 | -€20,216 | -1.5% |
| Tangible fixed assets | 22/27 | €1,344,030 | €1,323,814 | -€20,216 | -1.5% |
| Land and buildings | 22 | €1,344,030 | €1,323,814 | -€20,216 | -1.5% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €195,266 | €260,286 | +€65,020 | +33.3% |
| Amounts receivable within one year | 40/41 | €145,456 | €134,746 | -€10,710 | -7.4% |
| Trade receivables | 40 | €18,446 | €27,546 | +€9,100 | +49.3% |
| Other amounts receivable | 41 | €127,010 | €107,200 | -€19,810 | -15.6% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €48,480 | €25,540 | -€22,940 | -47.3% |
| Deferred charges and accrued income | 490/1 | €1,330 | - | -€1,330 | |
| Total equity and liabilities | 10/49 | €1,539,476 | €1,584,280 | +€44,804 | +2.9% |
| Equity | 10/15 | €994,483 | €1,091,018 | +€96,535 | +9.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €932,483 | €1,029,018 | +€96,535 | +10.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €926,283 | €1,022,818 | +€96,535 | +10.4% |
| Amounts payable | 17/49 | €544,993 | €493,261 | -€51,731 | -9.5% |
| Amounts payable after more than one year | 17 | €27,311 | - | -€27,311 | |
| Financial debts | 170/4 | €27,311 | - | -€27,311 | |
| Amounts payable within one year | 42/48 | €517,682 | €493,261 | -€24,421 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €83,497 | €27,831 | -€55,666 | -66.7% |
| Trade debts | 44 | €36 | €19,045 | +€19,009 | +52092.5% |
| Suppliers | 440/4 | €36 | €19,045 | +€19,009 | +52092.5% |
| Taxes, remuneration and social security | 45 | €56,279 | €50,605 | -€5,674 | -10.1% |
| Taxes | 450/3 | €31,398 | €19,382 | -€12,016 | -38.3% |
| Remuneration and social security | 454/9 | €24,881 | €31,223 | +€6,342 | +25.5% |
| Other amounts payable | 47/48 | €377,869 | €395,780 | +€17,911 | +4.7% |
| Remuneration, social security and pensions | 62 | €183,877 | €204,272 | +€20,395 | +11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,216 | €20,216 | = | 0.0% |
| Other operating charges | 640/8 | €23,193 | €26,703 | +€3,509 | +15.1% |
| Gross operating margin | 9900 | €387,780 | €420,240 | +€32,460 | +8.4% |
| Operating profit (loss) | 9901 | €160,494 | €169,050 | +€8,556 | +5.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €23,495 | €26,821 | +€3,326 | +14.2% |
| Recurring financial charges | 65 | €23,495 | €26,821 | +€3,326 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €136,998 | €142,229 | +€5,230 | +3.8% |
| Income taxes | 67/77 | €43,796 | €45,694 | +€1,898 | +4.3% |
| Profit (loss) for the period | 9904 | €93,203 | €96,535 | +€3,333 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €93,203 | €96,535 | +€3,333 | +3.6% |
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.