Ets. GLOTEX: 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.
Ets. GLOTEX
Largest movements
- Cash -€82,559
down €82,559 (-36.9%), from €223,626 to €141,067
mainly Net result for the year (-€136,926) and Provisions (-€16,356)
- Receivables within one year -€71,415
down €71,415 (-97.8%), from €73,018 to €1,603
of which Trade receivables: -€69,300
- Tangible fixed assets -€6,759
down €6,759 (-6.8%), from €98,953 to €92,194
of which Land and buildings: -€5,382
- Profit (loss) carried forward -€105,174
down €105,174 (-2,519%), from -€4,175 to -€109,350
- Reserves -€31,752
down €31,752 (-83.7%), from €37,952 to €6,200
of which Tax-exempt reserves: -€31,752
- Provisions -€16,356
no longer reported in 2025 (was €16,356)
- Tax, wage and social debts -€7,139
down €7,139 (-72.0%), from €9,919 to €2,779
of which Remuneration and social security: -€4,000
- Financial charges +€69,215
up €69,215 (+58,183%), from €119 to €69,334
of which Non-recurring financial charges: +€69,240
- Gross operating margin +€21,805
up €21,805 (+22.7%), from -€96,049 to -€74,244
- Depreciation -€9,365
down €9,365 (-58.1%), from €16,124 to €6,759
- Other operating charges -€1,776
down €1,776 (-40.6%), from €4,370 to €2,594
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 | €396,712 | €235,587 | -€161,125 | -40.6% |
| Fixed assets | 21/28 | €98,953 | €92,194 | -€6,759 | -6.8% |
| Tangible fixed assets | 22/27 | €98,953 | €92,194 | -€6,759 | -6.8% |
| Land and buildings | 22 | €96,633 | €91,251 | -€5,382 | -5.6% |
| Furniture and vehicles | 24 | €2,320 | €943 | -€1,377 | -59.4% |
| Current assets | 29/58 | €297,759 | €143,393 | -€154,366 | -51.8% |
| Amounts receivable within one year | 40/41 | €73,018 | €1,603 | -€71,415 | -97.8% |
| Trade receivables | 40 | €69,300 | - | -€69,300 | |
| Other amounts receivable | 41 | €3,717 | €1,603 | -€2,115 | -56.9% |
| Cash at bank and in hand | 54/58 | €223,626 | €141,067 | -€82,559 | -36.9% |
| Deferred charges and accrued income | 490/1 | €1,115 | €724 | -€391 | -35.1% |
| Total equity and liabilities | 10/49 | €396,712 | €235,587 | -€161,125 | -40.6% |
| Equity | 10/15 | €95,776 | -€41,150 | -€136,926 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €37,952 | €6,200 | -€31,752 | -83.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,752 | - | -€31,752 | |
| Profit (loss) carried forward | 14 | -€4,175 | -€109,350 | -€105,174 | -2,519% |
| Provisions and deferred taxes | 16 | €16,356 | - | -€16,356 | |
| Deferred taxes | 168 | €16,356 | - | -€16,356 | |
| Amounts payable | 17/49 | €284,580 | €276,737 | -€7,843 | -2.8% |
| Amounts payable after more than one year | 17 | €274,566 | €273,957 | -€608 | -0.2% |
| Other amounts payable | 178/9 | €274,566 | €273,957 | -€608 | -0.2% |
| Amounts payable within one year | 42/48 | €10,014 | €2,779 | -€7,235 | -72.2% |
| Trade debts | 44 | €96 | - | -€96 | |
| Suppliers | 440/4 | €96 | - | -€96 | |
| Taxes, remuneration and social security | 45 | €9,919 | €2,779 | -€7,139 | -72.0% |
| Taxes | 450/3 | €5,919 | €2,779 | -€3,139 | -53.0% |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Non-recurring operating income | 76A | - | €1,448 | +€1,448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,124 | €6,759 | -€9,365 | -58.1% |
| Other operating charges | 640/8 | €4,370 | €2,594 | -€1,776 | -40.6% |
| Gross operating margin | 9900 | -€96,049 | -€74,244 | +€21,805 | +22.7% |
| Operating profit (loss) | 9901 | -€116,543 | -€83,597 | +€32,946 | +28.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €119 | €69,334 | +€69,215 | +58,183% |
| Recurring financial charges | 65 | €119 | €94 | -€25 | -21.4% |
| Non-recurring financial charges | 66B | - | €69,240 | +€69,240 | |
| Profit (loss) for the period before taxes | 9903 | -€116,662 | -€152,930 | -€36,268 | -31.1% |
| Transfer from deferred taxes | 780 | €1,533 | €16,356 | +€14,822 | +967% |
| Income taxes | 67/77 | €363 | €351 | -€12 | -3.4% |
| Profit (loss) for the period | 9904 | -€115,492 | -€136,926 | -€21,434 | -18.6% |
| Transfer from tax-exempt reserves | 789 | €2,978 | €31,752 | +€28,774 | +966% |
| Profit (loss) for the period to be appropriated | 9905 | -€112,514 | -€105,174 | +€7,340 | +6.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.