GALIPSO: 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.
GALIPSO
Largest movements
- Cash +€59,831
up €59,831 (+232.0%), from €25,793 to €85,624
mainly Other debts (+€161,213) and Depreciation (+€76,096)
- Tangible fixed assets -€33,138
down €33,138 (-2.8%), from €1.2m to €1.2m
of which Land and buildings: -€26,498
- Other debts +€161,213
up €161,213 (+19.3%), from €836,049 to €997,262
- Current portion of long-term debt -€74,475
down €74,475 (-94.2%), from €79,091 to €4,616
- Profit (loss) carried forward -€32,832
down €32,832 (-5.4%), from -€612,298 to -€645,130
- Tax, wage and social debts -€16,686
down €16,686 (-76.3%), from €21,859 to €5,173
- Financial charges -€54,004
down €54,004 (-89.4%), from €60,428 to €6,425
- Depreciation -€9,317
down €9,317 (-10.9%), from €85,413 to €76,096
- Purchases and services +€5,733
up €5,733 (+8.6%), from €67,031 to €72,764
- Gross operating margin -€4,359
down €4,359 (-7.1%), from €61,529 to €57,170
- Turnover -€2,068
down €2,068 (-3.2%), from €64,006 to €61,938
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 | €1,238,213 | €1,268,693 | +€30,480 | +2.5% |
| Fixed assets | 21/28 | €1,200,107 | €1,166,969 | -€33,138 | -2.8% |
| Tangible fixed assets | 22/27 | €1,200,107 | €1,166,969 | -€33,138 | -2.8% |
| Land and buildings | 22 | €1,187,224 | €1,160,727 | -€26,498 | -2.2% |
| Furniture and vehicles | 24 | €12,883 | €6,242 | -€6,640 | -51.5% |
| Current assets | 29/58 | €38,106 | €101,724 | +€63,618 | +167.0% |
| Amounts receivable within one year | 40/41 | €9,279 | €13,003 | +€3,723 | +40.1% |
| Trade receivables | 40 | €9,279 | €13,003 | +€3,723 | +40.1% |
| Cash at bank and in hand | 54/58 | €25,793 | €85,624 | +€59,831 | +232.0% |
| Deferred charges and accrued income | 490/1 | €3,033 | €3,097 | +€64 | +2.1% |
| Total equity and liabilities | 10/49 | €1,238,213 | €1,268,693 | +€30,480 | +2.5% |
| Equity | 10/15 | €287,702 | €254,870 | -€32,832 | -11.4% |
| Contributions | 10/11 | €900,000 | €900,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€612,298 | -€645,130 | -€32,832 | -5.4% |
| Amounts payable | 17/49 | €950,511 | €1,013,823 | +€63,312 | +6.7% |
| Amounts payable after more than one year | 17 | €2,309 | - | -€2,309 | |
| Financial debts | 170/4 | €2,309 | - | -€2,309 | |
| Amounts payable within one year | 42/48 | €947,997 | €1,013,816 | +€65,819 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €79,091 | €4,616 | -€74,475 | -94.2% |
| Trade debts | 44 | €10,998 | €6,765 | -€4,233 | -38.5% |
| Suppliers | 440/4 | €10,998 | €6,765 | -€4,233 | -38.5% |
| Taxes, remuneration and social security | 45 | €21,859 | €5,173 | -€16,686 | -76.3% |
| Taxes | 450/3 | €21,859 | €5,173 | -€16,686 | -76.3% |
| Other amounts payable | 47/48 | €836,049 | €997,262 | +€161,213 | +19.3% |
| Accrued charges and deferred income | 492/3 | €205 | €7 | -€197 | -96.5% |
| Turnover | 70 | €64,006 | €61,938 | -€2,068 | -3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €67,031 | €72,764 | +€5,733 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,413 | €76,096 | -€9,317 | -10.9% |
| Other operating charges | 640/8 | €6,619 | €6,913 | +€294 | +4.4% |
| Gross operating margin | 9900 | €61,529 | €57,170 | -€4,359 | -7.1% |
| Operating profit (loss) | 9901 | -€30,504 | -€25,840 | +€4,664 | +15.3% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €60,428 | €6,425 | -€54,004 | -89.4% |
| Recurring financial charges | 65 | €60,428 | €6,425 | -€54,004 | -89.4% |
| Profit (loss) for the period before taxes | 9903 | -€90,930 | -€32,264 | +€58,665 | +64.5% |
| Income taxes | 67/77 | €973 | €568 | -€405 | -41.7% |
| Profit (loss) for the period | 9904 | -€91,903 | -€32,832 | +€59,070 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€91,903 | -€32,832 | +€59,070 | +64.3% |
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 10 October 2026 via checked.be.