GALOP SPIN: 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.
GALOP SPIN
Largest movements
- Receivables within one year -€9,529
down €9,529 (-29.3%), from €32,519 to €22,989
of which Trade receivables: -€15,730
- Tangible fixed assets -€3,410
down €3,410 (-22.6%), from €15,068 to €11,658
of which Assets under construction and advance payments: -€6,831
- Cash +€1,979
up €1,979 (+6.2%), from €32,132 to €34,110
mainly Receivables within one year (+€9,529) and Net result for the year (+€5,860)
- Deferred charges and accrued income +€1,591
up €1,591 (+79.5%), from €2,002 to €3,593
- Tax, wage and social debts -€5,237
down €5,237 (-23.8%), from €22,049 to €16,812
of which Taxes: -€5,343
- Current portion of long-term debt -€5,029
down €5,029 (-74.8%), from €6,719 to €1,690
- Reserves +€2,233
up €2,233 (+4.2%), from €53,698 to €55,931
- Other debts -€910
down €910 (-15.6%), from €5,813 to €4,903
- Gross operating margin -€10,741
down €10,741 (-43.0%), from €24,965 to €14,223
- Depreciation -€3,430
down €3,430 (-43.7%), from €7,854 to €4,424
- Taxes -€2,188
down €2,188 (-44.1%), from €4,965 to €2,776
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,153 | €79,783 | -€9,370 | -10.5% |
| Fixed assets | 21/28 | €22,501 | €19,091 | -€3,410 | -15.2% |
| Tangible fixed assets | 22/27 | €15,068 | €11,658 | -€3,410 | -22.6% |
| Plant, machinery and equipment | 23 | €2,570 | €2,097 | -€473 | -18.4% |
| Furniture and vehicles | 24 | €5,667 | €4,438 | -€1,229 | -21.7% |
| Other tangible fixed assets | 26 | - | €5,123 | +€5,123 | |
| Assets under construction and advance payments | 27 | €6,831 | - | -€6,831 | |
| Financial fixed assets | 28 | €7,433 | €7,433 | = | 0.0% |
| Current assets | 29/58 | €66,652 | €60,692 | -€5,960 | -8.9% |
| Amounts receivable within one year | 40/41 | €32,519 | €22,989 | -€9,529 | -29.3% |
| Trade receivables | 40 | €31,460 | €15,730 | -€15,730 | -50.0% |
| Other amounts receivable | 41 | €1,059 | €7,259 | +€6,201 | +585.8% |
| Cash at bank and in hand | 54/58 | €32,132 | €34,110 | +€1,979 | +6.2% |
| Deferred charges and accrued income | 490/1 | €2,002 | €3,593 | +€1,591 | +79.5% |
| Total equity and liabilities | 10/49 | €89,153 | €79,783 | -€9,370 | -10.5% |
| Equity | 10/15 | €53,698 | €55,931 | +€2,233 | +4.2% |
| Reserves | 13 | €53,698 | €55,931 | +€2,233 | +4.2% |
| Distributable reserves | 133 | €53,698 | €55,931 | +€2,233 | +4.2% |
| Amounts payable | 17/49 | €35,455 | €23,852 | -€11,603 | -32.7% |
| Amounts payable within one year | 42/48 | €34,833 | €23,852 | -€10,981 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €6,719 | €1,690 | -€5,029 | -74.8% |
| Financial debts | 43 | - | €138 | +€138 | |
| Credit institutions | 430/8 | - | €138 | +€138 | |
| Trade debts | 44 | €252 | €309 | +€57 | +22.7% |
| Suppliers | 440/4 | €252 | €309 | +€57 | +22.7% |
| Taxes, remuneration and social security | 45 | €22,049 | €16,812 | -€5,237 | -23.8% |
| Taxes | 450/3 | €17,202 | €11,858 | -€5,343 | -31.1% |
| Remuneration and social security | 454/9 | €4,848 | €4,954 | +€106 | +2.2% |
| Other amounts payable | 47/48 | €5,813 | €4,903 | -€910 | -15.6% |
| Accrued charges and deferred income | 492/3 | €622 | - | -€622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,854 | €4,424 | -€3,430 | -43.7% |
| Other operating charges | 640/8 | €199 | €199 | +€0 | +0.1% |
| Gross operating margin | 9900 | €24,965 | €14,223 | -€10,741 | -43.0% |
| Operating profit (loss) | 9901 | €16,911 | €9,599 | -€7,312 | -43.2% |
| Financial charges | 65/66B | €882 | €963 | +€81 | +9.1% |
| Recurring financial charges | 65 | €882 | €963 | +€81 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €16,029 | €8,636 | -€7,392 | -46.1% |
| Income taxes | 67/77 | €4,965 | €2,776 | -€2,188 | -44.1% |
| Profit (loss) for the period | 9904 | €11,064 | €5,860 | -€5,204 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,064 | €5,860 | -€5,204 | -47.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.