GL & CO: 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.
GL & CO
Largest movements
- Stocks and contracts -€435,268
down €435,268 (-90.3%), from €481,883 to €46,615
- Tangible fixed assets -€184,809
down €184,809 (-3.8%), from €4.8m to €4.6m
of which Land and buildings: -€128,258
- Debts after one year -€787,315
down €787,315 (-19.8%), from €4.0m to €3.2m
of which Financial debts: -€786,680
- Profit (loss) carried forward +€95,523
up €95,523 (+7.0%), from -€1.4m to -€1.3m
- Revaluation surpluses -€67,620
down €67,620 (-2.7%), from €2.5m to €2.5m
- Reserves +€67,620
up €67,620 (+49.3%), from €137,228 to €204,848
- Gross operating margin +€244,313
up €244,313 (+93.7%), from €260,673 to €504,986
- Other operating charges +€55,651
up €55,651 (+171.3%), from €32,484 to €88,135
- Depreciation -€40,277
down €40,277 (-16.4%), from €245,338 to €205,061
- Taxes +€15,359
up €15,359 (+5406.3%), from €284 to €15,643
- Financial charges -€13,344
down €13,344 (-11.7%), from €113,968 to €100,625
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 | €5,791,271 | €5,155,932 | -€635,339 | -11.0% |
| Fixed assets | 21/28 | €5,269,295 | €5,084,486 | -€184,809 | -3.5% |
| Tangible fixed assets | 22/27 | €4,800,558 | €4,615,749 | -€184,809 | -3.8% |
| Land and buildings | 22 | €4,243,723 | €4,115,465 | -€128,258 | -3.0% |
| Plant, machinery and equipment | 23 | €556,836 | €498,638 | -€58,198 | -10.5% |
| Furniture and vehicles | 24 | €0 | €1,646 | +€1,646 | |
| Financial fixed assets | 28 | €468,737 | €468,737 | = | 0.0% |
| Current assets | 29/58 | €521,975 | €71,446 | -€450,529 | -86.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €481,883 | €46,615 | -€435,268 | -90.3% |
| Stocks | 30/36 | €481,883 | €46,615 | -€435,268 | -90.3% |
| Amounts receivable within one year | 40/41 | €6,750 | €0 | -€6,750 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €6,750 | €0 | -€6,750 | -100.0% |
| Cash at bank and in hand | 54/58 | €19,154 | €5,757 | -€13,397 | -69.9% |
| Deferred charges and accrued income | 490/1 | €14,188 | €19,073 | +€4,885 | +34.4% |
| Total equity and liabilities | 10/49 | €5,791,271 | €5,155,932 | -€635,339 | -11.0% |
| Equity | 10/15 | €1,353,897 | €1,449,419 | +€95,523 | +7.1% |
| Contributions | 10/11 | €53,501 | €53,501 | = | 0.0% |
| Revaluation surpluses | 12 | €2,526,828 | €2,459,209 | -€67,620 | -2.7% |
| Reserves | 13 | €137,228 | €204,848 | +€67,620 | +49.3% |
| Distributable reserves | 133 | €137,228 | €204,848 | +€67,620 | +49.3% |
| Profit (loss) carried forward | 14 | -€1,363,661 | -€1,268,139 | +€95,523 | +7.0% |
| Amounts payable | 17/49 | €4,437,374 | €3,706,513 | -€730,861 | -16.5% |
| Amounts payable after more than one year | 17 | €3,969,470 | €3,182,155 | -€787,315 | -19.8% |
| Financial debts | 170/4 | €3,861,397 | €3,074,718 | -€786,680 | -20.4% |
| Other amounts payable | 178/9 | €108,073 | €107,438 | -€635 | -0.6% |
| Amounts payable within one year | 42/48 | €450,595 | €506,620 | +€56,025 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €209,767 | €185,773 | -€23,995 | -11.4% |
| Financial debts | 43 | €818 | €636 | -€181 | -22.2% |
| Credit institutions | 430/8 | €818 | €636 | -€181 | -22.2% |
| Trade debts | 44 | €10,490 | €49,270 | +€38,779 | +369.7% |
| Suppliers | 440/4 | €10,490 | €49,270 | +€38,779 | +369.7% |
| Taxes, remuneration and social security | 45 | €480 | €7,643 | +€7,163 | +1492.2% |
| Taxes | 450/3 | €480 | €7,643 | +€7,163 | +1492.2% |
| Other amounts payable | 47/48 | €229,040 | €263,299 | +€34,259 | +15.0% |
| Accrued charges and deferred income | 492/3 | €17,309 | €17,737 | +€428 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245,338 | €205,061 | -€40,277 | -16.4% |
| Other operating charges | 640/8 | €32,484 | €88,135 | +€55,651 | +171.3% |
| Gross operating margin | 9900 | €260,673 | €504,986 | +€244,313 | +93.7% |
| Operating profit (loss) | 9901 | -€17,149 | €211,790 | +€228,939 | |
| Financial income | 75/76B | €492 | €0 | -€492 | -100.0% |
| Recurring financial income | 75 | €492 | €0 | -€492 | -100.0% |
| Financial charges | 65/66B | €113,968 | €100,625 | -€13,344 | -11.7% |
| Recurring financial charges | 65 | €113,968 | €100,625 | -€13,344 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€130,625 | €111,165 | +€241,791 | |
| Income taxes | 67/77 | €284 | €15,643 | +€15,359 | +5406.3% |
| Profit (loss) for the period | 9904 | -€130,909 | €95,523 | +€226,432 | |
| Profit (loss) for the period to be appropriated | 9905 | -€130,909 | €95,523 | +€226,432 |
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 9 October 2026 via checked.be.