GALVACORTEN: what changed
Two financial 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.
GALVACORTEN
Largest movements
- Stocks and contracts -€11,426
down €11,426 (-29.5%), from €38,737 to €27,311
- Tangible fixed assets -€8,689
down €8,689 (-34.1%), from €25,461 to €16,772
of which Leasing and similar rights: -€7,453
- Receivables within one year +€4,067
new in 2025: €4,067
- Deferred charges and accrued income -€1,821
down €1,821 (-76.9%), from €2,368 to €547
- Cash +€854
up €854 (+100%), from €854 to €1,709
mainly Stocks and contracts (+€11,426) and Depreciation (+€8,689)
- Profit (loss) carried forward -€8,441
down €8,441 (-51.5%), from -€16,405 to -€24,846
- Debts after one year -€6,365
down €6,365 (-41.6%), from €15,305 to €8,940
- Trade debts -€2,954
down €2,954 (-41.0%), from €7,202 to €4,248
- Gross operating margin +€199
up €199 (+4.4%), from €4,521 to €4,720
- Financial charges +€193
up €193 (+5.2%), from €3,677 to €3,870
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.
Derived cash bridge
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 | €67,420 | €50,406 | -€17,014 | -25.2% |
| Fixed assets | 21/28 | €25,461 | €16,772 | -€8,689 | -34.1% |
| Tangible fixed assets | 22/27 | €25,461 | €16,772 | -€8,689 | -34.1% |
| Plant, machinery and equipment | 23 | €1,236 | - | -€1,236 | |
| Leasing and similar rights | 25 | €24,224 | €16,772 | -€7,453 | -30.8% |
| Current assets | 29/58 | €41,959 | €33,634 | -€8,325 | -19.8% |
| Stocks and contracts in progress | 3 | €38,737 | €27,311 | -€11,426 | -29.5% |
| Stocks | 30/36 | €38,737 | €27,311 | -€11,426 | -29.5% |
| Amounts receivable within one year | 40/41 | - | €4,067 | +€4,067 | |
| Trade receivables | 40 | - | €4,067 | +€4,067 | |
| Cash at bank and in hand | 54/58 | €854 | €1,709 | +€854 | +100% |
| Deferred charges and accrued income | 490/1 | €2,368 | €547 | -€1,821 | -76.9% |
| Total equity and liabilities | 10/49 | €67,420 | €50,406 | -€17,014 | -25.2% |
| Equity | 10/15 | -€12,405 | -€20,846 | -€8,441 | -68.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,405 | -€24,846 | -€8,441 | -51.5% |
| Amounts payable | 17/49 | €79,824 | €71,252 | -€8,573 | -10.7% |
| Amounts payable after more than one year | 17 | €15,305 | €8,940 | -€6,365 | -41.6% |
| Financial debts | 170/4 | €15,305 | €8,940 | -€6,365 | -41.6% |
| Amounts payable within one year | 42/48 | €64,519 | €62,311 | -€2,208 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €5,953 | €6,365 | +€412 | +6.9% |
| Trade debts | 44 | €7,202 | €4,248 | -€2,954 | -41.0% |
| Suppliers | 440/4 | €7,202 | €4,248 | -€2,954 | -41.0% |
| Taxes, remuneration and social security | 45 | €932 | €1,162 | +€230 | +24.7% |
| Taxes | 450/3 | €932 | €1,162 | +€230 | +24.7% |
| Other amounts payable | 47/48 | €50,432 | €50,536 | +€104 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,703 | €8,689 | -€14 | -0.2% |
| Other operating charges | 640/8 | €564 | €602 | +€38 | +6.8% |
| Gross operating margin | 9900 | €4,521 | €4,720 | +€199 | +4.4% |
| Operating profit (loss) | 9901 | -€4,746 | -€4,571 | +€174 | +3.7% |
| Financial income | 75/76B | €8 | €0 | -€8 | -99.9% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -99.9% |
| Financial charges | 65/66B | €3,677 | €3,870 | +€193 | +5.2% |
| Recurring financial charges | 65 | €3,677 | €3,870 | +€193 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,415 | -€8,441 | -€26 | -0.3% |
| Profit (loss) for the period | 9904 | -€8,415 | -€8,441 | -€26 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,415 | -€8,441 | -€26 | -0.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.