GALVER: 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.
What changed
GALVER
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2023 against 2024filed annual accounts (NBB)
Net result for the year
-€897
2023 · €106,154-€107,051
Equity
€864,919
2023 · €865,816-€897
Cash
€22,837
2023 · €8,559+€14,278
Balance sheet total
€2.1m
2023 · €2.2m-€100,320
Largest movements
Assets
- Receivables within one year -€118,078
down €118,078 (-6.3%), from €1.9m to €1.8m
of which Other amounts receivable: -€114,668
Equity and liabilities
- Debts after one year -€175,858
down €175,858 (-16.3%), from €1.1m to €905,405
- Other debts +€68,000
up €68,000 (+115.3%), from €59,000 to €127,000
Income statement
- Gross operating margin -€132,995
down €132,995 (-57.9%), from €229,735 to €96,740
- Depreciation +€6,206
up €6,206 (+44.9%), from €13,824 to €20,030
- Financial charges +€5,311
up €5,311 (+10.5%), from €50,519 to €55,830
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.
Result 2023
€106,154
Gross operating margin
-€132,995
Depreciation
-€6,206
Other operating charges
-€899
Financial income
-€0
Financial charges
-€5,311
Deferred taxes and other
+€38,360
Result 2024
-€897
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.
From operations
+€192,663
Investment
-€23,933
Financing
-€154,452
Cash 2023
€8,559
From operations (derived)
+€192,663
Net result for the year
-€897
Depreciation
+€20,030
Receivables within one year
+€118,078
Smaller working-capital items
+€495
Trade debts
-€1,232
Tax, wage and social debts
-€11,812
Other debts
+€68,000
Investment (derived)
-€23,933
Investment in fixed assets (net)
-€23,933
Financing
-€154,452
Debts after one year
-€175,858
Current portion of long-term debt
+€21,405
Cash 2024
€22,837
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,219,533 | €2,119,213 | -€100,320 | -4.5% |
| Fixed assets | 21/28 | €339,084 | €342,986 | +€3,902 | +1.2% |
| Tangible fixed assets | 22/27 | €339,027 | €342,986 | +€3,959 | +1.2% |
| Land and buildings | 22 | €194,598 | €208,227 | +€13,630 | +7.0% |
| Plant, machinery and equipment | 23 | €144,427 | €134,759 | -€9,667 | -6.7% |
| Furniture and vehicles | 24 | €3 | €0 | -€3 | -100.0% |
| Financial fixed assets | 28 | €57 | €0 | -€57 | -100.0% |
| Current assets | 29/58 | €1,880,449 | €1,776,226 | -€104,222 | -5.5% |
| Amounts receivable within one year | 40/41 | €1,870,392 | €1,752,314 | -€118,078 | -6.3% |
| Trade receivables | 40 | €3,410 | €0 | -€3,410 | -100.0% |
| Other amounts receivable | 41 | €1,866,982 | €1,752,314 | -€114,668 | -6.1% |
| Cash at bank and in hand | 54/58 | €8,559 | €22,837 | +€14,278 | +166.8% |
| Deferred charges and accrued income | 490/1 | €1,498 | €1,075 | -€422 | -28.2% |
| Total equity and liabilities | 10/49 | €2,219,533 | €2,119,213 | -€100,320 | -4.5% |
| Equity | 10/15 | €865,816 | €864,919 | -€897 | -0.1% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €617,922 | €617,025 | -€897 | -0.1% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,748 | €114,415 | -€333 | -0.3% |
| Distributable reserves | 133 | €478,385 | €477,821 | -€564 | -0.1% |
| Provisions and deferred taxes | 16 | €38,249 | €38,138 | -€111 | -0.3% |
| Deferred taxes | 168 | €38,249 | €38,138 | -€111 | -0.3% |
| Amounts payable | 17/49 | €1,315,468 | €1,216,156 | -€99,312 | -7.5% |
| Amounts payable after more than one year | 17 | €1,081,263 | €905,405 | -€175,858 | -16.3% |
| Financial debts | 170/4 | €1,081,263 | €905,405 | -€175,858 | -16.3% |
| Amounts payable within one year | 42/48 | €229,540 | €305,902 | +€76,362 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €154,326 | €175,732 | +€21,405 | +13.9% |
| Trade debts | 44 | €4,402 | €3,170 | -€1,232 | -28.0% |
| Suppliers | 440/4 | €4,402 | €3,170 | -€1,232 | -28.0% |
| Taxes, remuneration and social security | 45 | €11,812 | €0 | -€11,812 | -100.0% |
| Taxes | 450/3 | €11,812 | €0 | -€11,812 | -100.0% |
| Other amounts payable | 47/48 | €59,000 | €127,000 | +€68,000 | +115.3% |
| Accrued charges and deferred income | 492/3 | €4,665 | €4,849 | +€184 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,824 | €20,030 | +€6,206 | +44.9% |
| Other operating charges | 640/8 | €20,989 | €21,888 | +€899 | +4.3% |
| Gross operating margin | 9900 | €229,735 | €96,740 | -€132,995 | -57.9% |
| Operating profit (loss) | 9901 | €194,922 | €54,822 | -€140,100 | -71.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €50,519 | €55,830 | +€5,311 | +10.5% |
| Recurring financial charges | 65 | €50,519 | €55,830 | +€5,311 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €144,403 | -€1,008 | -€145,411 | |
| Transfer from deferred taxes | 780 | €5 | €111 | +€106 | +2041.7% |
| Transfer to deferred taxes | 680 | €38,254 | €0 | -€38,254 | -100.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €106,154 | -€897 | -€107,051 | |
| Transfer from tax-exempt reserves | 789 | €16 | €333 | +€317 | +2042.9% |
| Transfer to tax-exempt reserves | 689 | €114,763 | €0 | -€114,763 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,594 | -€564 | +€8,030 | +93.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.