GL Trading: 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 Trading
Largest movements
- Cash +€154,223
up €154,223 (+1,579%), from €9,764 to €163,987
mainly Other debts (+€143,757) and Deferred charges and accrued income (+€87,879)
- Tangible fixed assets +€100,572
up €100,572 (+25.2%), from €399,408 to €499,980
of which Other tangible fixed assets: +€100,299
- Deferred charges and accrued income -€87,879
down €87,879 (-65.9%), from €133,305 to €45,426
- Receivables within one year -€81,081
down €81,081 (-94.4%), from €85,921 to €4,840
of which Trade receivables: -€65,953
- Other debts +€143,757
up €143,757 (+205%), from €69,964 to €213,721
- Profit (loss) carried forward -€42,911
down €42,911 (-38.1%), from €112,539 to €69,629
- Debts after one year -€28,344
down €28,344 (-16.4%), from €173,347 to €145,003
- Tax, wage and social debts +€8,808
up €8,808 (+113%), from €7,817 to €16,625
of which Taxes: +€8,808
- Gross operating margin -€44,459
down €44,459 (-69.2%), from €64,249 to €19,790
- Depreciation +€22,079
up €22,079 (+124%), from €17,809 to €39,888
- Financial charges +€7,701
up €7,701 (+83.5%), from €9,224 to €16,925
- Taxes -€744
down €744 (-81.3%), from €914 to €171
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 | €744,235 | €830,070 | +€85,835 | +11.5% |
| Fixed assets | 21/28 | €515,184 | €615,756 | +€100,572 | +19.5% |
| Tangible fixed assets | 22/27 | €399,408 | €499,980 | +€100,572 | +25.2% |
| Furniture and vehicles | 24 | €375 | €648 | +€273 | +73.0% |
| Other tangible fixed assets | 26 | €399,033 | €499,332 | +€100,299 | +25.1% |
| Financial fixed assets | 28 | €115,776 | €115,776 | = | 0.0% |
| Current assets | 29/58 | €229,051 | €214,314 | -€14,737 | -6.4% |
| Stocks and contracts in progress | 3 | €61 | €61 | = | 0.0% |
| Stocks | 30/36 | €61 | €61 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €85,921 | €4,840 | -€81,081 | -94.4% |
| Trade receivables | 40 | €70,793 | €4,840 | -€65,953 | -93.2% |
| Other amounts receivable | 41 | €15,128 | - | -€15,128 | |
| Cash at bank and in hand | 54/58 | €9,764 | €163,987 | +€154,223 | +1,579% |
| Deferred charges and accrued income | 490/1 | €133,305 | €45,426 | -€87,879 | -65.9% |
| Total equity and liabilities | 10/49 | €744,235 | €830,070 | +€85,835 | +11.5% |
| Equity | 10/15 | €242,348 | €199,438 | -€42,911 | -17.7% |
| Contributions | 10/11 | €66,000 | €66,000 | = | 0.0% |
| Reserves | 13 | €63,809 | €63,809 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,209 | €38,209 | = | 0.0% |
| Distributable reserves | 133 | €25,600 | €25,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,539 | €69,629 | -€42,911 | -38.1% |
| Provisions and deferred taxes | 16 | €206,778 | €208,820 | +€2,042 | +1.0% |
| Provisions for liabilities and charges | 160/5 | €206,778 | €208,820 | +€2,042 | +1.0% |
| Other liabilities and charges | 164/5 | €206,778 | €208,820 | +€2,042 | +1.0% |
| Amounts payable | 17/49 | €295,109 | €421,812 | +€126,704 | +42.9% |
| Amounts payable after more than one year | 17 | €173,347 | €145,003 | -€28,344 | -16.4% |
| Financial debts | 170/4 | €173,347 | €145,003 | -€28,344 | -16.4% |
| Amounts payable within one year | 42/48 | €119,688 | €276,690 | +€157,002 | +131% |
| Current portion of amounts payable after more than one year | 42 | €29,796 | €28,344 | -€1,452 | -4.9% |
| Trade debts | 44 | €12,112 | €18,000 | +€5,889 | +48.6% |
| Suppliers | 440/4 | €12,112 | €18,000 | +€5,889 | +48.6% |
| Taxes, remuneration and social security | 45 | €7,817 | €16,625 | +€8,808 | +113% |
| Taxes | 450/3 | €5,567 | €14,375 | +€8,808 | +158% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €69,964 | €213,721 | +€143,757 | +205% |
| Accrued charges and deferred income | 492/3 | €2,074 | €119 | -€1,954 | -94.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,809 | €39,888 | +€22,079 | +124% |
| Other operating charges | 640/8 | €3,920 | €4,096 | +€176 | +4.5% |
| Non-recurring operating charges | 66A | €11,148 | €2,042 | -€9,106 | -81.7% |
| Gross operating margin | 9900 | €64,249 | €19,790 | -€44,459 | -69.2% |
| Operating profit (loss) | 9901 | €31,372 | -€26,236 | -€57,608 | |
| Financial income | 75/76B | €257 | €421 | +€164 | +63.9% |
| Recurring financial income | 75 | €257 | €421 | +€164 | +63.9% |
| Financial charges | 65/66B | €9,224 | €16,925 | +€7,701 | +83.5% |
| Recurring financial charges | 65 | €9,224 | €16,925 | +€7,701 | +83.5% |
| Profit (loss) for the period before taxes | 9903 | €22,405 | -€42,740 | -€65,145 | |
| Income taxes | 67/77 | €914 | €171 | -€744 | -81.3% |
| Profit (loss) for the period | 9904 | €21,490 | -€42,911 | -€64,401 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,490 | -€42,911 | -€64,401 |
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 14 October 2026 via checked.be.