G.L.A.M.: what changed
G.L.A.M.
Largest movements
- Cash +€14,282
up €14,282 (+802%), from €1,781 to €16,063
mainly Other debts (+€11,952) and Tax, wage and social debts (+€7,604)
- Receivables within one year +€10,854
up €10,854 (+470%), from €2,310 to €13,164
of which Trade receivables: +€13,139
- Stocks and contracts +€1,333
up €1,333 (+38.7%), from €3,445 to €4,778
- Tangible fixed assets -€1,248
down €1,248 (-6.3%), from €19,824 to €18,576
of which Furniture and vehicles: -€2,355
- Other debts +€11,952
up €11,952 (+104%), from €11,448 to €23,400
- Tax, wage and social debts +€7,604
new in 2025: €7,604
- Profit (loss) carried forward +€6,448
up €6,448 (+44.3%), from -€14,553 to -€8,105
- Debts after one year -€4,901
down €4,901 (-65.7%), from €7,465 to €2,563
- Trade debts +€3,173
up €3,173 (+656%), from €484 to €3,657
- Gross operating margin +€14,998
up €14,998, from -€1,309 to €13,689
- Financial charges +€1,596
up €1,596 (+91.6%), from €1,742 to €3,338
- Other operating charges +€228
up €228 (+17.7%), from €1,290 to €1,518
- Financial income +€162
up €162 (+80,935%), from €0 to €162
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 | €27,360 | €52,581 | +€25,220 | +92.2% |
| Fixed assets | 21/28 | €19,824 | €18,576 | -€1,248 | -6.3% |
| Tangible fixed assets | 22/27 | €19,824 | €18,576 | -€1,248 | -6.3% |
| Plant, machinery and equipment | 23 | - | €1,107 | +€1,107 | |
| Furniture and vehicles | 24 | €19,824 | €17,469 | -€2,355 | -11.9% |
| Current assets | 29/58 | €7,536 | €34,004 | +€26,468 | +351% |
| Stocks and contracts in progress | 3 | €3,445 | €4,778 | +€1,333 | +38.7% |
| Stocks | 30/36 | €3,445 | €4,778 | +€1,333 | +38.7% |
| Amounts receivable within one year | 40/41 | €2,310 | €13,164 | +€10,854 | +470% |
| Trade receivables | 40 | - | €13,139 | +€13,139 | |
| Other amounts receivable | 41 | €2,310 | €24 | -€2,286 | -99.0% |
| Cash at bank and in hand | 54/58 | €1,781 | €16,063 | +€14,282 | +802% |
| Total equity and liabilities | 10/49 | €27,360 | €52,581 | +€25,220 | +92.2% |
| Equity | 10/15 | €3,242 | €9,690 | +€6,448 | +199% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,395 | €5,395 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €3,535 | €3,535 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,553 | -€8,105 | +€6,448 | +44.3% |
| Amounts payable | 17/49 | €24,118 | €42,891 | +€18,773 | +77.8% |
| Amounts payable after more than one year | 17 | €7,465 | €2,563 | -€4,901 | -65.7% |
| Financial debts | 170/4 | €7,465 | €2,563 | -€4,901 | -65.7% |
| Amounts payable within one year | 42/48 | €16,654 | €40,328 | +€23,674 | +142% |
| Current portion of amounts payable after more than one year | 42 | €4,616 | €4,901 | +€286 | +6.2% |
| Financial debts | 43 | €106 | €765 | +€659 | +621% |
| Credit institutions | 430/8 | €106 | €765 | +€659 | +621% |
| Trade debts | 44 | €484 | €3,657 | +€3,173 | +656% |
| Suppliers | 440/4 | €484 | €3,657 | +€3,173 | +656% |
| Taxes, remuneration and social security | 45 | - | €7,604 | +€7,604 | |
| Taxes | 450/3 | - | €7,604 | +€7,604 | |
| Other amounts payable | 47/48 | €11,448 | €23,400 | +€11,952 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,537 | €2,438 | -€99 | -3.9% |
| Other operating charges | 640/8 | €1,290 | €1,518 | +€228 | +17.7% |
| Gross operating margin | 9900 | -€1,309 | €13,689 | +€14,998 | |
| Operating profit (loss) | 9901 | -€5,135 | €9,733 | +€14,868 | |
| Financial income | 75/76B | €0 | €162 | +€162 | +80,935% |
| Recurring financial income | 75 | €0 | €162 | +€162 | +80,935% |
| Financial charges | 65/66B | €1,742 | €3,338 | +€1,596 | +91.6% |
| Recurring financial charges | 65 | €1,742 | €3,338 | +€1,596 | +91.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,877 | €6,557 | +€13,434 | |
| Income taxes | 67/77 | - | €109 | +€109 | |
| Profit (loss) for the period | 9904 | -€6,877 | €6,448 | +€13,325 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,877 | €6,448 | +€13,325 |
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.