De Glastuin: what changed
Two fiscal 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.
De Glastuin
Largest movements
- Current investments -€1.0m
down €1.0m (-76.1%), from €1.3m to €315,758
- Cash +€878,460
up €878,460 (+283.9%), from €309,378 to €1.2m
mainly Current investments (+€1.0m) and Other debts (+€583,732)
- Receivables after one year -€500,000
no longer reported in 2025 (was €500,000)
- Tangible fixed assets -€116,205
down €116,205 (-2.9%), from €4.0m to €3.8m
of which Land and buildings: -€192,711
- Receivables within one year -€113,746
down €113,746 (-24.6%), from €463,162 to €349,415
of which Trade receivables: -€87,408
- Reserves -€759,210
down €759,210 (-24.6%), from €3.1m to €2.3m
- Other debts +€583,732
up €583,732 (+2766502.7%), from €21 to €583,753
- Debts after one year -€377,869
down €377,869 (-21.5%), from €1.8m to €1.4m
- Trade debts -€253,106
down €253,106 (-49.9%), from €507,724 to €254,618
- Gross operating margin -€263,018
down €263,018 (-14.3%), from €1.8m to €1.6m
- Taxes -€86,402
down €86,402 (-29.0%), from €297,659 to €211,257
- Staff costs +€74,788
up €74,788 (+17.6%), from €424,381 to €499,170
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 | €6,700,931 | €5,824,227 | -€876,704 | -13.1% |
| Fixed assets | 21/28 | €3,965,598 | €3,844,893 | -€120,705 | -3.0% |
| Tangible fixed assets | 22/27 | €3,959,848 | €3,843,643 | -€116,205 | -2.9% |
| Land and buildings | 22 | €2,637,041 | €2,444,330 | -€192,711 | -7.3% |
| Plant, machinery and equipment | 23 | €1,311,011 | €1,207,651 | -€103,360 | -7.9% |
| Furniture and vehicles | 24 | €11,796 | €191,662 | +€179,866 | +1524.8% |
| Financial fixed assets | 28 | €5,750 | €1,250 | -€4,500 | -78.3% |
| Current assets | 29/58 | €2,735,334 | €1,979,334 | -€756,000 | -27.6% |
| Amounts receivable after more than one year | 29 | €500,000 | - | -€500,000 | |
| Other amounts receivable | 291 | €500,000 | - | -€500,000 | |
| Stocks and contracts in progress | 3 | €90,882 | €95,872 | +€4,990 | +5.5% |
| Stocks | 30/36 | €90,882 | €95,872 | +€4,990 | +5.5% |
| Amounts receivable within one year | 40/41 | €463,162 | €349,415 | -€113,746 | -24.6% |
| Trade receivables | 40 | €382,867 | €295,460 | -€87,408 | -22.8% |
| Other amounts receivable | 41 | €80,294 | €53,956 | -€26,339 | -32.8% |
| Current investments | 50/53 | €1,320,234 | €315,758 | -€1.0m | -76.1% |
| Cash at bank and in hand | 54/58 | €309,378 | €1,187,837 | +€878,460 | +283.9% |
| Deferred charges and accrued income | 490/1 | €51,678 | €30,451 | -€21,227 | -41.1% |
| Total equity and liabilities | 10/49 | €6,700,931 | €5,824,227 | -€876,704 | -13.1% |
| Equity | 10/15 | €3,823,922 | €3,019,013 | -€804,909 | -21.0% |
| Contributions | 10/11 | €388,578 | €388,578 | = | 0.0% |
| Reserves | 13 | €3,090,263 | €2,331,053 | -€759,210 | -24.6% |
| Distributable reserves | 133 | €3,090,263 | €2,331,053 | -€759,210 | -24.6% |
| Profit (loss) carried forward | 14 | €13,050 | €12,871 | -€179 | -1.4% |
| Investment grants | 15 | €332,031 | €286,511 | -€45,520 | -13.7% |
| Amounts payable | 17/49 | €2,877,010 | €2,805,214 | -€71,796 | -2.5% |
| Amounts payable after more than one year | 17 | €1,761,299 | €1,383,430 | -€377,869 | -21.5% |
| Financial debts | 170/4 | €1,761,299 | €1,383,430 | -€377,869 | -21.5% |
| Amounts payable within one year | 42/48 | €1,113,935 | €1,420,117 | +€306,181 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €415,369 | €377,869 | -€37,500 | -9.0% |
| Trade debts | 44 | €507,724 | €254,618 | -€253,106 | -49.9% |
| Suppliers | 440/4 | €507,724 | €254,618 | -€253,106 | -49.9% |
| Taxes, remuneration and social security | 45 | €190,822 | €203,877 | +€13,055 | +6.8% |
| Taxes | 450/3 | €133,660 | €142,965 | +€9,305 | +7.0% |
| Remuneration and social security | 454/9 | €57,162 | €60,912 | +€3,750 | +6.6% |
| Other amounts payable | 47/48 | €21 | €583,753 | +€583,732 | +2766502.7% |
| Accrued charges and deferred income | 492/3 | €1,775 | €1,667 | -€108 | -6.1% |
| Remuneration, social security and pensions | 62 | €424,381 | €499,170 | +€74,788 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €456,233 | €451,758 | -€4,475 | -1.0% |
| Other operating charges | 640/8 | €17,794 | €22,751 | +€4,957 | +27.9% |
| Gross operating margin | 9900 | €1,843,127 | €1,580,109 | -€263,018 | -14.3% |
| Operating profit (loss) | 9901 | €944,719 | €606,430 | -€338,289 | -35.8% |
| Financial income | 75/76B | €84,411 | €93,504 | +€9,093 | +10.8% |
| Recurring financial income | 75 | €84,411 | €93,504 | +€9,093 | +10.8% |
| Financial charges | 65/66B | €47,287 | €46,129 | -€1,158 | -2.4% |
| Recurring financial charges | 65 | €47,287 | €41,629 | -€5,658 | -12.0% |
| Non-recurring financial charges | 66B | - | €4,500 | +€4,500 | |
| Profit (loss) for the period before taxes | 9903 | €981,843 | €653,805 | -€328,038 | -33.4% |
| Income taxes | 67/77 | €297,659 | €211,257 | -€86,402 | -29.0% |
| Profit (loss) for the period | 9904 | €684,185 | €442,548 | -€241,636 | -35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €684,185 | €442,548 | -€241,636 | -35.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.