GALVAN: 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.
GALVAN
Largest movements
- Cash -€2,705
down €2,705 (-64.5%), from €4,191 to €1,487
mainly Investment in fixed assets (net) (-€3,479) and Receivables within one year (-€1,941)
- Receivables within one year +€1,941
up €1,941 (+79.2%), from €2,451 to €4,393
of which Trade receivables: +€1,972
- Tangible fixed assets +€1,304
up €1,304 (+21.2%), from €6,142 to €7,446
of which Furniture and vehicles: +€1,744
- Stocks and contracts +€287
up €287 (+14.0%), from €2,041 to €2,328
- Deferred charges and accrued income -€188
down €188 (-32.8%), from €572 to €385
- Trade debts +€1,623
up €1,623 (+81.4%), from €1,993 to €3,616
- Other debts -€1,202
down €1,202 (-47.3%), from €2,540 to €1,337
- Tax, wage and social debts +€175
up €175 (+16.7%), from €1,050 to €1,225
- Gross operating margin -€498
down €498 (-14.5%), from €3,434 to €2,936
- Other operating charges -€165
down €165 (-46.9%), from €351 to €187
- Financial charges -€128
down €128 (-19.8%), from €648 to €520
- Depreciation +€113
up €113 (+5.5%), from €2,062 to €2,175
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 | €15,528 | €16,168 | +€640 | +4.1% |
| Fixed assets | 21/28 | €6,272 | €7,576 | +€1,304 | +20.8% |
| Tangible fixed assets | 22/27 | €6,142 | €7,446 | +€1,304 | +21.2% |
| Furniture and vehicles | 24 | €4,698 | €6,442 | +€1,744 | +37.1% |
| Other tangible fixed assets | 26 | €1,444 | €1,004 | -€440 | -30.5% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €9,256 | €8,592 | -€664 | -7.2% |
| Stocks and contracts in progress | 3 | €2,041 | €2,328 | +€287 | +14.0% |
| Stocks | 30/36 | €2,041 | €2,328 | +€287 | +14.0% |
| Amounts receivable within one year | 40/41 | €2,451 | €4,393 | +€1,941 | +79.2% |
| Trade receivables | 40 | €1,389 | €3,361 | +€1,972 | +142.0% |
| Other amounts receivable | 41 | €1,062 | €1,032 | -€31 | -2.9% |
| Cash at bank and in hand | 54/58 | €4,191 | €1,487 | -€2,705 | -64.5% |
| Deferred charges and accrued income | 490/1 | €572 | €385 | -€188 | -32.8% |
| Total equity and liabilities | 10/49 | €15,528 | €16,168 | +€640 | +4.1% |
| Equity | 10/15 | €9,935 | €9,990 | +€55 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,665 | -€8,610 | +€55 | +0.6% |
| Amounts payable | 17/49 | €5,593 | €6,179 | +€585 | +10.5% |
| Amounts payable within one year | 42/48 | €5,583 | €6,179 | +€596 | +10.7% |
| Trade debts | 44 | €1,993 | €3,616 | +€1,623 | +81.4% |
| Suppliers | 440/4 | €1,993 | €3,616 | +€1,623 | +81.4% |
| Taxes, remuneration and social security | 45 | €1,050 | €1,225 | +€175 | +16.7% |
| Taxes | 450/3 | €1,050 | €1,225 | +€175 | +16.7% |
| Other amounts payable | 47/48 | €2,540 | €1,337 | -€1,202 | -47.3% |
| Accrued charges and deferred income | 492/3 | €11 | €0 | -€11 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,062 | €2,175 | +€113 | +5.5% |
| Other operating charges | 640/8 | €351 | €187 | -€165 | -46.9% |
| Gross operating margin | 9900 | €3,434 | €2,936 | -€498 | -14.5% |
| Operating profit (loss) | 9901 | €1,021 | €575 | -€446 | -43.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €648 | €520 | -€128 | -19.8% |
| Recurring financial charges | 65 | €648 | €520 | -€128 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €373 | €55 | -€318 | -85.3% |
| Profit (loss) for the period | 9904 | €373 | €55 | -€318 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €373 | €55 | -€318 | -85.3% |
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.