MD GALABAU: 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.
MD GALABAU
Largest movements
- Tangible fixed assets +€157,230
up €157,230 (+71.3%), from €220,549 to €377,779
of which Land and buildings: +€200,733
- Receivables within one year +€37,196
up €37,196 (+66.4%), from €56,047 to €93,243
of which Trade receivables: +€32,449
- Cash -€19,720
down €19,720 (-16.8%), from €117,182 to €97,462
mainly Investment in fixed assets (net) (-€239,402) and Contributions, distributions and other (-€87,836)
- Stocks and contracts +€10,050
up €10,050 (+80.4%), from €12,500 to €22,550
of which Stocks: +€20,050
- Debts after one year +€149,245
up €149,245 (+173%), from €86,347 to €235,593
- Other debts +€52,569
up €52,569 (+35.5%), from €148,045 to €200,614
- Tax, wage and social debts -€19,104
down €19,104 (-22.5%), from €84,721 to €65,618
of which Taxes: -€30,501
- Staff costs +€55,698
up €55,698 (+22.1%), from €251,527 to €307,225
- Gross operating margin +€30,478
up €30,478 (+6.4%), from €479,542 to €510,020
- Depreciation +€30,072
up €30,072 (+57.7%), from €52,100 to €82,172
- Financial charges -€13,274
down €13,274 (-67.8%), from €19,592 to €6,318
- Taxes -€10,043
down €10,043 (-28.5%), from €35,297 to €25,254
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 | €416,318 | €601,807 | +€185,489 | +44.6% |
| Fixed assets | 21/28 | €220,549 | €377,779 | +€157,230 | +71.3% |
| Tangible fixed assets | 22/27 | €220,549 | €377,779 | +€157,230 | +71.3% |
| Land and buildings | 22 | €98,288 | €299,020 | +€200,733 | +204% |
| Plant, machinery and equipment | 23 | €64,678 | €38,286 | -€26,392 | -40.8% |
| Furniture and vehicles | 24 | €57,584 | €40,473 | -€17,111 | -29.7% |
| Current assets | 29/58 | €195,769 | €224,028 | +€28,259 | +14.4% |
| Stocks and contracts in progress | 3 | €12,500 | €22,550 | +€10,050 | +80.4% |
| Stocks | 30/36 | €2,500 | €22,550 | +€20,050 | +802% |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €56,047 | €93,243 | +€37,196 | +66.4% |
| Trade receivables | 40 | €53,344 | €85,794 | +€32,449 | +60.8% |
| Other amounts receivable | 41 | €2,703 | €7,449 | +€4,746 | +176% |
| Cash at bank and in hand | 54/58 | €117,182 | €97,462 | -€19,720 | -16.8% |
| Deferred charges and accrued income | 490/1 | €10,040 | €10,773 | +€733 | +7.3% |
| Total equity and liabilities | 10/49 | €416,318 | €601,807 | +€185,489 | +44.6% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €397,718 | €583,207 | +€185,489 | +46.6% |
| Amounts payable after more than one year | 17 | €86,347 | €235,593 | +€149,245 | +173% |
| Financial debts | 170/4 | €86,347 | €235,593 | +€149,245 | +173% |
| Amounts payable within one year | 42/48 | €311,143 | €347,615 | +€36,472 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €48,722 | €46,484 | -€2,238 | -4.6% |
| Trade debts | 44 | €29,654 | €34,899 | +€5,244 | +17.7% |
| Suppliers | 440/4 | €29,654 | €34,899 | +€5,244 | +17.7% |
| Taxes, remuneration and social security | 45 | €84,721 | €65,618 | -€19,104 | -22.5% |
| Taxes | 450/3 | €55,271 | €24,770 | -€30,501 | -55.2% |
| Remuneration and social security | 454/9 | €29,450 | €40,848 | +€11,398 | +38.7% |
| Other amounts payable | 47/48 | €148,045 | €200,614 | +€52,569 | +35.5% |
| Accrued charges and deferred income | 492/3 | €228 | - | -€228 | |
| Remuneration, social security and pensions | 62 | €251,527 | €307,225 | +€55,698 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,100 | €82,172 | +€30,072 | +57.7% |
| Other operating charges | 640/8 | €4,694 | €1,272 | -€3,422 | -72.9% |
| Gross operating margin | 9900 | €479,542 | €510,020 | +€30,478 | +6.4% |
| Operating profit (loss) | 9901 | €171,222 | €119,352 | -€51,870 | -30.3% |
| Financial income | 75/76B | €338 | €57 | -€281 | -83.2% |
| Recurring financial income | 75 | €338 | €57 | -€281 | -83.2% |
| Financial charges | 65/66B | €19,592 | €6,318 | -€13,274 | -67.8% |
| Recurring financial charges | 65 | €19,592 | €6,318 | -€13,274 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | €151,967 | €113,090 | -€38,877 | -25.6% |
| Income taxes | 67/77 | €35,297 | €25,254 | -€10,043 | -28.5% |
| Profit (loss) for the period | 9904 | €116,670 | €87,836 | -€28,834 | -24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €116,670 | €87,836 | -€28,834 | -24.7% |
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 31 October 2026 via checked.be.