GALNA: 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.
GALNA
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+168.9%), from €999,767 to €2.7m
of which Land and buildings: +€1.7m
- Receivables within one year +€194,100
up €194,100 (+287.9%), from €67,422 to €261,522
of which Trade receivables: +€174,535
- Receivables after one year +€150,000
new in 2025: €150,000
- Cash -€44,012
down €44,012 (-44.2%), from €99,535 to €55,523
mainly Investment in fixed assets (net) (-€1.7m) and Receivables within one year (-€194,100)
- Short-term financial debts +€2.0m
up €2.0m (+10060.3%), from €20,000 to €2.0m
of which Credit institutions: +€1.7m
- Debts after one year -€65,682
down €65,682 (-10.7%), from €616,197 to €550,515
- Reserves +€57,055
up €57,055 (+23.6%), from €241,345 to €298,400
of which Distributable reserves: +€57,055
- Other debts -€42,044
down €42,044 (-98.5%), from €42,672 to €629
- Trade debts +€38,766
up €38,766 (+2554.6%), from €1,517 to €40,283
- Gross operating margin -€41,859
down €41,859 (-16.4%), from €255,816 to €213,958
- Depreciation +€19,613
up €19,613 (+66.5%), from €29,481 to €49,094
- Taxes -€16,228
down €16,228 (-27.6%), from €58,758 to €42,530
- Financial charges +€5,557
up €5,557 (+28.9%), from €19,257 to €24,814
- Other operating charges -€4,526
down €4,526 (-45.8%), from €9,891 to €5,365
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 | €1,170,907 | €3,163,226 | +€2.0m | +170.2% |
| Fixed assets | 21/28 | €999,767 | €2,688,539 | +€1.7m | +168.9% |
| Tangible fixed assets | 22/27 | €999,767 | €2,688,539 | +€1.7m | +168.9% |
| Land and buildings | 22 | €968,761 | €2,624,092 | +€1.7m | +170.9% |
| Plant, machinery and equipment | 23 | €8,820 | €7,933 | -€887 | -10.1% |
| Furniture and vehicles | 24 | €22,187 | €56,513 | +€34,327 | +154.7% |
| Current assets | 29/58 | €171,140 | €474,687 | +€303,547 | +177.4% |
| Amounts receivable after more than one year | 29 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | - | €150,000 | +€150,000 | |
| Amounts receivable within one year | 40/41 | €67,422 | €261,522 | +€194,100 | +287.9% |
| Trade receivables | 40 | €45,854 | €220,389 | +€174,535 | +380.6% |
| Other amounts receivable | 41 | €21,568 | €41,133 | +€19,565 | +90.7% |
| Cash at bank and in hand | 54/58 | €99,535 | €55,523 | -€44,012 | -44.2% |
| Deferred charges and accrued income | 490/1 | €4,183 | €7,642 | +€3,459 | +82.7% |
| Total equity and liabilities | 10/49 | €1,170,907 | €3,163,226 | +€2.0m | +170.2% |
| Equity | 10/15 | €408,791 | €465,846 | +€57,055 | +14.0% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Reserves | 13 | €241,345 | €298,400 | +€57,055 | +23.6% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | €178,195 | €235,250 | +€57,055 | +32.0% |
| Profit (loss) carried forward | 14 | €156,246 | €156,246 | = | 0.0% |
| Amounts payable | 17/49 | €762,116 | €2,697,380 | +€1.9m | +253.9% |
| Amounts payable after more than one year | 17 | €616,197 | €550,515 | -€65,682 | -10.7% |
| Financial debts | 170/4 | €616,197 | €550,515 | -€65,682 | -10.7% |
| Amounts payable within one year | 42/48 | €143,598 | €2,146,865 | +€2.0m | +1395.1% |
| Current portion of amounts payable after more than one year | 42 | €65,037 | €65,682 | +€645 | +1.0% |
| Financial debts | 43 | €20,000 | €2,032,050 | +€2.0m | +10060.3% |
| Credit institutions | 430/8 | €20,000 | €1,747,050 | +€1.7m | +8635.3% |
| Other loans | 439 | - | €285,000 | +€285,000 | |
| Trade debts | 44 | €1,517 | €40,283 | +€38,766 | +2554.6% |
| Suppliers | 440/4 | €1,517 | €40,283 | +€38,766 | +2554.6% |
| Taxes, remuneration and social security | 45 | €14,372 | €8,221 | -€6,151 | -42.8% |
| Taxes | 450/3 | €14,372 | €8,221 | -€6,151 | -42.8% |
| Other amounts payable | 47/48 | €42,672 | €629 | -€42,044 | -98.5% |
| Accrued charges and deferred income | 492/3 | €2,321 | €0 | -€2,321 | -100.0% |
| Non-recurring operating income | 76A | €1 | €0 | -€1 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,481 | €49,094 | +€19,613 | +66.5% |
| Other operating charges | 640/8 | €9,891 | €5,365 | -€4,526 | -45.8% |
| Gross operating margin | 9900 | €255,816 | €213,958 | -€41,859 | -16.4% |
| Operating profit (loss) | 9901 | €216,444 | €159,499 | -€56,945 | -26.3% |
| Financial income | 75/76B | €323 | €3,545 | +€3,222 | +999.0% |
| Recurring financial income | 75 | €323 | €3,545 | +€3,222 | +999.0% |
| Financial charges | 65/66B | €19,257 | €24,814 | +€5,557 | +28.9% |
| Recurring financial charges | 65 | €19,257 | €24,814 | +€5,557 | +28.9% |
| Profit (loss) for the period before taxes | 9903 | €197,510 | €138,230 | -€59,279 | -30.0% |
| Income taxes | 67/77 | €58,758 | €42,530 | -€16,228 | -27.6% |
| Profit (loss) for the period | 9904 | €138,752 | €95,700 | -€43,052 | -31.0% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €0 | -€63,150 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,602 | €95,700 | +€20,098 | +26.6% |
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 30 September 2026 via checked.be.