GALUDO: 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.
GALUDO
Largest movements
- Cash +€15,240
up €15,240 (+80.8%), from €18,859 to €34,099
mainly Net result for the year (+€35,804) and Tax, wage and social debts (+€14,754)
- Tangible fixed assets -€4,091
down €4,091 (-51.3%), from €7,968 to €3,877
- Reserves +€50,000
up €50,000 (+299.8%), from €16,677 to €66,677
of which Distributable reserves: +€50,000
- Other debts -€39,232
down €39,232 (-61.1%), from €64,215 to €24,983
- Tax, wage and social debts +€14,754
up €14,754 (+421.8%), from €3,498 to €18,252
of which Taxes: +€14,689
- Profit (loss) carried forward -€14,196
down €14,196 (-6.5%), from €218,775 to €204,578
- Gross operating margin +€32,464
up €32,464 (+108.0%), from €30,052 to €62,516
- Taxes +€11,190
up €11,190 (+117.8%), from €9,498 to €20,689
- Staff costs +€757
new in 2025: €757
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 | €317,199 | €330,174 | +€12,975 | +4.1% |
| Fixed assets | 21/28 | €295,889 | €291,798 | -€4,091 | -1.4% |
| Tangible fixed assets | 22/27 | €7,968 | €3,877 | -€4,091 | -51.3% |
| Furniture and vehicles | 24 | €7,968 | €3,877 | -€4,091 | -51.3% |
| Financial fixed assets | 28 | €287,921 | €287,921 | = | 0.0% |
| Current assets | 29/58 | €21,310 | €38,376 | +€17,066 | +80.1% |
| Amounts receivable within one year | 40/41 | €2,197 | €2,126 | -€71 | -3.2% |
| Trade receivables | 40 | €2,089 | €2,018 | -€71 | -3.4% |
| Other amounts receivable | 41 | €108 | €108 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,859 | €34,099 | +€15,240 | +80.8% |
| Deferred charges and accrued income | 490/1 | €254 | €2,151 | +€1,897 | +747.1% |
| Total equity and liabilities | 10/49 | €317,199 | €330,174 | +€12,975 | +4.1% |
| Equity | 10/15 | €241,652 | €277,455 | +€35,804 | +14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €16,677 | €66,677 | +€50,000 | +299.8% |
| 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 | €14,818 | €64,818 | +€50,000 | +337.4% |
| Profit (loss) carried forward | 14 | €218,775 | €204,578 | -€14,196 | -6.5% |
| Amounts payable | 17/49 | €75,547 | €52,719 | -€22,828 | -30.2% |
| Amounts payable within one year | 42/48 | €74,166 | €52,719 | -€21,447 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €2,292 | €2,285 | -€7 | -0.3% |
| Trade debts | 44 | €4,160 | €7,198 | +€3,038 | +73.0% |
| Suppliers | 440/4 | €4,160 | €7,198 | +€3,038 | +73.0% |
| Taxes, remuneration and social security | 45 | €3,498 | €18,252 | +€14,754 | +421.8% |
| Taxes | 450/3 | €3,498 | €18,187 | +€14,689 | +419.9% |
| Remuneration and social security | 454/9 | - | €65 | +€65 | |
| Other amounts payable | 47/48 | €64,215 | €24,983 | -€39,232 | -61.1% |
| Accrued charges and deferred income | 492/3 | €1,381 | - | -€1,381 | |
| Remuneration, social security and pensions | 62 | - | €757 | +€757 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,091 | €4,091 | = | 0.0% |
| Other operating charges | 640/8 | €899 | €528 | -€370 | -41.2% |
| Gross operating margin | 9900 | €30,052 | €62,516 | +€32,464 | +108.0% |
| Operating profit (loss) | 9901 | €25,063 | €57,140 | +€32,077 | +128.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €708 | €648 | -€60 | -8.5% |
| Recurring financial charges | 65 | €708 | €648 | -€60 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €24,355 | €56,492 | +€32,137 | +132.0% |
| Income taxes | 67/77 | €9,498 | €20,689 | +€11,190 | +117.8% |
| Profit (loss) for the period | 9904 | €14,857 | €35,804 | +€20,947 | +141.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,857 | €35,804 | +€20,947 | +141.0% |
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 7 October 2026 via checked.be.