GALX: 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.
GALX
Largest movements
- Tangible fixed assets -€30,517
down €30,517 (-24.6%), from €124,195 to €93,678
of which Furniture and vehicles: -€30,311
- Current investments +€8,169
new in 2025: €8,169
- Receivables within one year +€4,738
up €4,738 (+74.3%), from €6,373 to €11,111
of which Trade receivables: +€3,843
- Intangible fixed assets -€4,000
down €4,000 (-31.2%), from €12,822 to €8,822
- Cash -€1,565
no longer reported in 2025 (was €1,565)
mainly Debts after one year (-€21,475) and Net result for the year (-€15,572)
- Debts after one year -€21,475
down €21,475 (-43.9%), from €48,875 to €27,401
- Profit (loss) carried forward -€15,572
down €15,572 (-17,977%), from -€87 to -€15,658
- Other debts +€7,394
up €7,394 (+12.6%), from €58,611 to €66,006
- Trade debts +€4,663
up €4,663 (+157%), from €2,970 to €7,633
- Depreciation +€4,638
up €4,638 (+15.5%), from €29,879 to €34,517
- Gross operating margin -€1,476
down €1,476 (-5.8%), from €25,435 to €23,959
- Other operating charges +€1,421
up €1,421 (+221%), from €643 to €2,064
- Financial charges -€428
down €428 (-13.1%), from €3,274 to €2,846
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 | €145,394 | €122,030 | -€23,363 | -16.1% |
| Fixed assets | 21/28 | €137,267 | €102,750 | -€34,517 | -25.1% |
| Intangible fixed assets | 21 | €12,822 | €8,822 | -€4,000 | -31.2% |
| Tangible fixed assets | 22/27 | €124,195 | €93,678 | -€30,517 | -24.6% |
| Plant, machinery and equipment | 23 | €889 | €684 | -€206 | -23.1% |
| Furniture and vehicles | 24 | €123,306 | €92,995 | -€30,311 | -24.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €8,127 | €19,280 | +€11,153 | +137% |
| Amounts receivable within one year | 40/41 | €6,373 | €11,111 | +€4,738 | +74.3% |
| Trade receivables | 40 | €2,482 | €6,325 | +€3,843 | +155% |
| Other amounts receivable | 41 | €3,891 | €4,786 | +€895 | +23.0% |
| Current investments | 50/53 | - | €8,169 | +€8,169 | |
| Cash at bank and in hand | 54/58 | €1,565 | - | -€1,565 | |
| Deferred charges and accrued income | 490/1 | €189 | - | -€189 | |
| Total equity and liabilities | 10/49 | €145,394 | €122,030 | -€23,363 | -16.1% |
| Equity | 10/15 | €4,913 | -€10,658 | -€15,572 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87 | -€15,658 | -€15,572 | -17,977% |
| Amounts payable | 17/49 | €140,480 | €132,688 | -€7,792 | -5.5% |
| Amounts payable after more than one year | 17 | €48,875 | €27,401 | -€21,475 | -43.9% |
| Financial debts | 170/4 | €48,875 | €27,401 | -€21,475 | -43.9% |
| Amounts payable within one year | 42/48 | €91,605 | €104,938 | +€13,333 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €20,533 | €21,475 | +€942 | +4.6% |
| Trade debts | 44 | €2,970 | €7,633 | +€4,663 | +157% |
| Suppliers | 440/4 | €2,970 | €7,633 | +€4,663 | +157% |
| Advances received on contracts in progress | 46 | €2,821 | €2,821 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,670 | €7,003 | +€333 | +5.0% |
| Taxes | 450/3 | €4,670 | €7,003 | +€2,333 | +50.0% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €58,611 | €66,006 | +€7,394 | +12.6% |
| Accrued charges and deferred income | 492/3 | - | €350 | +€350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,879 | €34,517 | +€4,638 | +15.5% |
| Other operating charges | 640/8 | €643 | €2,064 | +€1,421 | +221% |
| Gross operating margin | 9900 | €25,435 | €23,959 | -€1,476 | -5.8% |
| Operating profit (loss) | 9901 | -€5,087 | -€12,621 | -€7,534 | -148% |
| Financial income | 75/76B | €1 | €1 | -€0 | -30.2% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -30.2% |
| Financial charges | 65/66B | €3,274 | €2,846 | -€428 | -13.1% |
| Recurring financial charges | 65 | €3,274 | €2,846 | -€428 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,361 | -€15,467 | -€7,106 | -85.0% |
| Income taxes | 67/77 | €109 | €105 | -€4 | -3.6% |
| Profit (loss) for the period | 9904 | -€8,470 | -€15,572 | -€7,102 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,470 | -€15,572 | -€7,102 | -83.9% |
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 17 October 2026 via checked.be.