GL Holdco: 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 Holdco
Largest movements
- Receivables within one year +€498,404
up €498,404 (+3916.6%), from €12,725 to €511,129
- Accrued charges and deferred income +€1.2m
up €1.2m (+120.2%), from €970,986 to €2.1m
- Debts after one year -€534,739
down €534,739 (-8.1%), from €6.6m to €6.1m
- Profit (loss) carried forward -€146,557
down €146,557 (-2.5%), from -€5.9m to -€6.1m
- Financial income -€500,000
down €500,000 (-50.0%), from €1.0m to €500,000
- Financial charges -€379,075
down €379,075 (-37.4%), from €1.0m to €635,226
- Other operating charges -€1,089
down €1,089 (-92.4%), from €1,179 to €90
- Gross operating margin +€872
up €872 (+7.2%), from -€12,112 to -€11,241
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 | €1,689,909 | €2,175,854 | +€485,945 | +28.8% |
| Fixed assets | 21/28 | €1,641,187 | €1,641,187 | = | 0.0% |
| Financial fixed assets | 28 | €1,641,187 | €1,641,187 | = | 0.0% |
| Current assets | 29/58 | €48,722 | €534,667 | +€485,945 | +997.4% |
| Amounts receivable within one year | 40/41 | €12,725 | €511,129 | +€498,404 | +3916.6% |
| Other amounts receivable | 41 | €12,725 | €511,129 | +€498,404 | +3916.6% |
| Cash at bank and in hand | 54/58 | €35,996 | €23,537 | -€12,459 | -34.6% |
| Total equity and liabilities | 10/49 | €1,689,909 | €2,175,854 | +€485,945 | +28.8% |
| Equity | 10/15 | -€5,900,837 | -€6,047,394 | -€146,557 | -2.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,910,837 | -€6,057,394 | -€146,557 | -2.5% |
| Amounts payable | 17/49 | €7,590,746 | €8,223,248 | +€632,502 | +8.3% |
| Amounts payable after more than one year | 17 | €6,619,760 | €6,085,022 | -€534,739 | -8.1% |
| Financial debts | 170/4 | €6,619,760 | €6,085,022 | -€534,739 | -8.1% |
| Accrued charges and deferred income | 492/3 | €970,986 | €2,138,226 | +€1.2m | +120.2% |
| Other operating charges | 640/8 | €1,179 | €90 | -€1,089 | -92.4% |
| Gross operating margin | 9900 | -€12,112 | -€11,241 | +€872 | +7.2% |
| Operating profit (loss) | 9901 | -€13,292 | -€11,331 | +€1,961 | +14.8% |
| Financial income | 75/76B | €1,000,000 | €500,000 | -€500,000 | -50.0% |
| Recurring financial income | 75 | €1,000,000 | €500,000 | -€500,000 | -50.0% |
| Financial charges | 65/66B | €1,014,301 | €635,226 | -€379,075 | -37.4% |
| Recurring financial charges | 65 | €1,014,301 | €635,226 | -€379,075 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,592 | -€146,557 | -€118,964 | -431.1% |
| Profit (loss) for the period | 9904 | -€27,592 | -€146,557 | -€118,964 | -431.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,592 | -€146,557 | -€118,964 | -431.1% |
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.