GLABELLA: 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.
GLABELLA
Largest movements
- Current investments +€129,147
new in 2025: €129,147
- Cash -€43,479
down €43,479 (-30.5%), from €142,648 to €99,169
mainly Current investments (-€129,147) and Debts after one year (-€9,016)
- Tangible fixed assets -€8,718
down €8,718 (-20.4%), from €42,795 to €34,077
- Reserves +€82,426
up €82,426 (+62.4%), from €132,146 to €214,572
- Debts after one year -€9,016
down €9,016 (-32.9%), from €27,407 to €18,392
- Trade debts +€3,003
up €3,003 (+2003.0%), from €150 to €3,153
- Gross operating margin +€11,181
up €11,181 (+10.5%), from €106,841 to €118,022
- Taxes +€2,905
up €2,905 (+15.0%), from €19,341 to €22,245
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 | €202,929 | €279,964 | +€77,035 | +38.0% |
| Fixed assets | 21/28 | €42,795 | €34,077 | -€8,718 | -20.4% |
| Tangible fixed assets | 22/27 | €42,795 | €34,077 | -€8,718 | -20.4% |
| Furniture and vehicles | 24 | €42,795 | €34,077 | -€8,718 | -20.4% |
| Current assets | 29/58 | €160,135 | €245,888 | +€85,753 | +53.6% |
| Amounts receivable within one year | 40/41 | €16,298 | €15,824 | -€474 | -2.9% |
| Other amounts receivable | 41 | €16,298 | €15,824 | -€474 | -2.9% |
| Current investments | 50/53 | - | €129,147 | +€129,147 | |
| Cash at bank and in hand | 54/58 | €142,648 | €99,169 | -€43,479 | -30.5% |
| Deferred charges and accrued income | 490/1 | €1,189 | €1,748 | +€559 | +47.0% |
| Total equity and liabilities | 10/49 | €202,929 | €279,964 | +€77,035 | +38.0% |
| Equity | 10/15 | €132,147 | €214,573 | +€82,426 | +62.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €132,146 | €214,572 | +€82,426 | +62.4% |
| Distributable reserves | 133 | €132,146 | €214,572 | +€82,426 | +62.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,782 | €65,392 | -€5,391 | -7.6% |
| Amounts payable after more than one year | 17 | €27,407 | €18,392 | -€9,016 | -32.9% |
| Financial debts | 170/4 | €27,407 | €18,392 | -€9,016 | -32.9% |
| Amounts payable within one year | 42/48 | €43,340 | €47,000 | +€3,660 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €8,640 | €9,016 | +€376 | +4.4% |
| Trade debts | 44 | €150 | €3,153 | +€3,003 | +2003.0% |
| Suppliers | 440/4 | €150 | €3,153 | +€3,003 | +2003.0% |
| Taxes, remuneration and social security | 45 | €27,930 | €30,330 | +€2,399 | +8.6% |
| Taxes | 450/3 | €24,630 | €27,030 | +€2,399 | +9.7% |
| Remuneration and social security | 454/9 | €3,300 | €3,300 | = | 0.0% |
| Other amounts payable | 47/48 | €6,620 | €4,502 | -€2,119 | -32.0% |
| Accrued charges and deferred income | 492/3 | €35 | €0 | -€35 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,000 | €11,017 | +€17 | +0.2% |
| Other operating charges | 640/8 | €627 | €644 | +€17 | +2.7% |
| Gross operating margin | 9900 | €106,841 | €118,022 | +€11,181 | +10.5% |
| Operating profit (loss) | 9901 | €95,214 | €106,361 | +€11,147 | +11.7% |
| Financial income | 75/76B | €0 | €551 | +€551 | |
| Recurring financial income | 75 | €0 | €551 | +€551 | |
| Financial charges | 65/66B | €2,293 | €2,241 | -€52 | -2.3% |
| Recurring financial charges | 65 | €2,293 | €2,241 | -€52 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €92,921 | €104,671 | +€11,750 | +12.6% |
| Income taxes | 67/77 | €19,341 | €22,245 | +€2,905 | +15.0% |
| Profit (loss) for the period | 9904 | €73,580 | €82,426 | +€8,845 | +12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €73,580 | €82,426 | +€8,845 | +12.0% |
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.