GALOR: what changed
GALOR
Largest movements
- Tangible fixed assets +€106,874
up €106,874 (+40.5%), from €263,778 to €370,652
of which Land and buildings: +€109,801
- Receivables within one year -€26,127
no longer reported in 2025 (was €26,127)
- Deferred charges and accrued income +€9,060
up €9,060 (+11.6%), from €77,802 to €86,862
- Cash -€8,355
down €8,355 (-78.9%), from €10,592 to €2,237
mainly Investment in fixed assets (net) (-€128,022) and Deferred charges and accrued income (-€9,060)
- Other debts +€77,000
up €77,000 (+110%), from €70,140 to €147,140
- Depreciation +€5,780
up €5,780 (+37.6%), from €15,368 to €21,148
- Gross operating margin -€2,992
down €2,992 (-10.1%), from €29,756 to €26,764
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €378,299 | €459,751 | +€81,452 | +21.5% |
| Fixed assets | 21/28 | €263,778 | €370,652 | +€106,874 | +40.5% |
| Tangible fixed assets | 22/27 | €263,778 | €370,652 | +€106,874 | +40.5% |
| Land and buildings | 22 | €244,778 | €354,579 | +€109,801 | +44.9% |
| Plant, machinery and equipment | 23 | €19,000 | €16,074 | -€2,927 | -15.4% |
| Current assets | 29/58 | €114,521 | €89,099 | -€25,422 | -22.2% |
| Amounts receivable within one year | 40/41 | €26,127 | - | -€26,127 | |
| Trade receivables | 40 | €26,127 | - | -€26,127 | |
| Cash at bank and in hand | 54/58 | €10,592 | €2,237 | -€8,355 | -78.9% |
| Deferred charges and accrued income | 490/1 | €77,802 | €86,862 | +€9,060 | +11.6% |
| Total equity and liabilities | 10/49 | €378,299 | €459,751 | +€81,452 | +21.5% |
| Equity | 10/15 | €304,782 | €308,006 | +€3,224 | +1.1% |
| Contributions | 10/11 | €446,208 | €446,208 | = | 0.0% |
| Capital | 10 | €446,208 | €446,208 | = | 0.0% |
| Issued capital | 100 | €446,208 | €446,208 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,426 | -€138,203 | +€3,224 | +2.3% |
| Amounts payable | 17/49 | €73,517 | €151,745 | +€78,228 | +106% |
| Amounts payable within one year | 42/48 | €73,517 | €151,345 | +€77,828 | +106% |
| Trade debts | 44 | €3,377 | €4,205 | +€828 | +24.5% |
| Suppliers | 440/4 | €3,377 | €4,205 | +€828 | +24.5% |
| Other amounts payable | 47/48 | €70,140 | €147,140 | +€77,000 | +110% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,368 | €21,148 | +€5,780 | +37.6% |
| Other operating charges | 640/8 | €2,133 | €2,133 | -€0 | 0.0% |
| Gross operating margin | 9900 | €29,756 | €26,764 | -€2,992 | -10.1% |
| Operating profit (loss) | 9901 | €12,255 | €3,483 | -€8,772 | -71.6% |
| Financial charges | 65/66B | €367 | €260 | -€108 | -29.3% |
| Recurring financial charges | 65 | €367 | €260 | -€108 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €11,888 | €3,224 | -€8,664 | -72.9% |
| Profit (loss) for the period | 9904 | €11,888 | €3,224 | -€8,664 | -72.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,888 | €3,224 | -€8,664 | -72.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.