GALOP SPIN: 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.
GALOP SPIN
Largest movements
- Receivables within one year -€2,747
down €2,747 (-11.9%), from €22,989 to €20,242
of which Other amounts receivable: -€2,263
- Tangible fixed assets -€2,540
down €2,540 (-21.8%), from €11,658 to €9,118
of which Other tangible fixed assets: -€1,708
- Deferred charges and accrued income +€2,403
up €2,403 (+66.9%), from €3,593 to €5,996
- Tax, wage and social debts -€4,971
down €4,971 (-29.6%), from €16,812 to €11,841
of which Remuneration and social security: -€4,954
- Other debts +€4,434
up €4,434 (+90.4%), from €4,903 to €9,337
- Trade debts +€1,795
up €1,795 (+582%), from €309 to €2,104
- Current portion of long-term debt -€1,690
down €1,690 (-100%), from €1,690 to €0
- Reserves -€1,524
down €1,524 (-2.7%), from €55,931 to €54,407
- Gross operating margin -€2,322
down €2,322 (-16.3%), from €14,223 to €11,902
- Financial charges -€492
down €492 (-51.1%), from €963 to €471
- Other operating charges +€392
up €392 (+196%), from €199 to €591
- Taxes -€223
down €223 (-8.0%), from €2,776 to €2,553
- Depreciation -€220
down €220 (-5.0%), from €4,424 to €4,204
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 | €79,783 | €77,689 | -€2,094 | -2.6% |
| Fixed assets | 21/28 | €19,091 | €16,551 | -€2,540 | -13.3% |
| Tangible fixed assets | 22/27 | €11,658 | €9,118 | -€2,540 | -21.8% |
| Plant, machinery and equipment | 23 | €2,097 | €2,494 | +€397 | +18.9% |
| Furniture and vehicles | 24 | €4,438 | €3,209 | -€1,229 | -27.7% |
| Other tangible fixed assets | 26 | €5,123 | €3,415 | -€1,708 | -33.3% |
| Financial fixed assets | 28 | €7,433 | €7,433 | = | 0.0% |
| Current assets | 29/58 | €60,692 | €61,137 | +€445 | +0.7% |
| Amounts receivable within one year | 40/41 | €22,989 | €20,242 | -€2,747 | -11.9% |
| Trade receivables | 40 | €15,730 | €15,246 | -€484 | -3.1% |
| Other amounts receivable | 41 | €7,259 | €4,996 | -€2,263 | -31.2% |
| Cash at bank and in hand | 54/58 | €34,110 | €34,899 | +€789 | +2.3% |
| Deferred charges and accrued income | 490/1 | €3,593 | €5,996 | +€2,403 | +66.9% |
| Total equity and liabilities | 10/49 | €79,783 | €77,689 | -€2,094 | -2.6% |
| Equity | 10/15 | €55,931 | €54,407 | -€1,524 | -2.7% |
| Reserves | 13 | €55,931 | €54,407 | -€1,524 | -2.7% |
| Distributable reserves | 133 | €55,931 | €54,407 | -€1,524 | -2.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €23,852 | €23,282 | -€571 | -2.4% |
| Amounts payable within one year | 42/48 | €23,852 | €23,282 | -€571 | -2.4% |
| Current portion of amounts payable after more than one year | 42 | €1,690 | €0 | -€1,690 | -100% |
| Financial debts | 43 | €138 | €0 | -€138 | -100% |
| Credit institutions | 430/8 | €138 | €0 | -€138 | -100% |
| Trade debts | 44 | €309 | €2,104 | +€1,795 | +582% |
| Suppliers | 440/4 | €309 | €2,104 | +€1,795 | +582% |
| Taxes, remuneration and social security | 45 | €16,812 | €11,841 | -€4,971 | -29.6% |
| Taxes | 450/3 | €11,858 | €11,841 | -€18 | -0.1% |
| Remuneration and social security | 454/9 | €4,954 | €0 | -€4,954 | -100% |
| Other amounts payable | 47/48 | €4,903 | €9,337 | +€4,434 | +90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,424 | €4,204 | -€220 | -5.0% |
| Other operating charges | 640/8 | €199 | €591 | +€392 | +196% |
| Gross operating margin | 9900 | €14,223 | €11,902 | -€2,322 | -16.3% |
| Operating profit (loss) | 9901 | €9,599 | €7,106 | -€2,493 | -26.0% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €963 | €471 | -€492 | -51.1% |
| Recurring financial charges | 65 | €963 | €471 | -€492 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €8,636 | €6,638 | -€1,998 | -23.1% |
| Income taxes | 67/77 | €2,776 | €2,553 | -€223 | -8.0% |
| Profit (loss) for the period | 9904 | €5,860 | €4,085 | -€1,775 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,860 | €4,085 | -€1,775 | -30.3% |
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 15 October 2026 via checked.be.