GL HF: 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.
GL HF
Largest movements
- Receivables within one year -€4,634
down €4,634 (-21.7%), from €21,307 to €16,674
of which Trade receivables: -€3,809
- Cash +€2,293
up €2,293 (+45.7%), from €5,013 to €7,305
mainly Receivables within one year (+€4,634) and Other debts (+€1,615)
- Tangible fixed assets -€287
down €287 (-15.5%), from €1,852 to €1,566
- Profit (loss) carried forward -€2,519
down €2,519, from €1,447 to -€1,072
- Accrued charges and deferred income -€1,785
no longer reported in 2025 (was €1,785)
- Other debts +€1,615
up €1,615 (+116.6%), from €1,385 to €2,999
- Tax, wage and social debts +€895
up €895 (+10.2%), from €8,740 to €9,635
- Trade debts -€834
down €834 (-6.0%), from €13,816 to €12,983
- Staff costs +€4,415
new in 2025: €4,415
- Financial charges +€1,693
up €1,693 (+52.6%), from €3,218 to €4,911
- Gross operating margin -€1,206
down €1,206 (-13.2%), from €9,138 to €7,933
- Taxes -€1,122
down €1,122 (-79.0%), from €1,420 to €298
- Other operating charges +€307
up €307 (+121.7%), from €252 to €559
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 | €28,172 | €25,544 | -€2,628 | -9.3% |
| Fixed assets | 21/28 | €1,852 | €1,566 | -€287 | -15.5% |
| Tangible fixed assets | 22/27 | €1,852 | €1,566 | -€287 | -15.5% |
| Other tangible fixed assets | 26 | €1,852 | €1,566 | -€287 | -15.5% |
| Current assets | 29/58 | €26,320 | €23,979 | -€2,341 | -8.9% |
| Amounts receivable within one year | 40/41 | €21,307 | €16,674 | -€4,634 | -21.7% |
| Trade receivables | 40 | €19,839 | €16,029 | -€3,809 | -19.2% |
| Other amounts receivable | 41 | €1,469 | €644 | -€824 | -56.1% |
| Cash at bank and in hand | 54/58 | €5,013 | €7,305 | +€2,293 | +45.7% |
| Total equity and liabilities | 10/49 | €28,172 | €25,544 | -€2,628 | -9.3% |
| Equity | 10/15 | €2,447 | -€72 | -€2,519 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,447 | -€1,072 | -€2,519 | |
| Amounts payable | 17/49 | €25,726 | €25,617 | -€109 | -0.4% |
| Amounts payable within one year | 42/48 | €23,941 | €25,617 | +€1,676 | +7.0% |
| Trade debts | 44 | €13,816 | €12,983 | -€834 | -6.0% |
| Suppliers | 440/4 | €13,816 | €12,983 | -€834 | -6.0% |
| Taxes, remuneration and social security | 45 | €8,740 | €9,635 | +€895 | +10.2% |
| Taxes | 450/3 | €8,740 | €9,635 | +€895 | +10.2% |
| Other amounts payable | 47/48 | €1,385 | €2,999 | +€1,615 | +116.6% |
| Accrued charges and deferred income | 492/3 | €1,785 | - | -€1,785 | |
| Remuneration, social security and pensions | 62 | - | €4,415 | +€4,415 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €397 | €287 | -€110 | -27.8% |
| Other operating charges | 640/8 | €252 | €559 | +€307 | +121.7% |
| Gross operating margin | 9900 | €9,138 | €7,933 | -€1,206 | -13.2% |
| Operating profit (loss) | 9901 | €8,489 | €2,672 | -€5,817 | -68.5% |
| Financial income | 75/76B | €130 | €17 | -€113 | -86.7% |
| Recurring financial income | 75 | €130 | €17 | -€113 | -86.7% |
| Financial charges | 65/66B | €3,218 | €4,911 | +€1,693 | +52.6% |
| Recurring financial charges | 65 | €3,218 | €4,911 | +€1,693 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €5,401 | -€2,221 | -€7,622 | |
| Income taxes | 67/77 | €1,420 | €298 | -€1,122 | -79.0% |
| Profit (loss) for the period | 9904 | €3,981 | -€2,519 | -€6,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,981 | -€2,519 | -€6,500 |
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 8 October 2026 via checked.be.