GLACE JOZEF: 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.
GLACE JOZEF
Largest movements
- Tangible fixed assets -€32,341
down €32,341 (-9.3%), from €347,864 to €315,523
of which Land and buildings: -€29,517
- Cash +€7,671
up €7,671 (+42.8%), from €17,934 to €25,605
mainly Depreciation (+€36,263) and Current investments (+€4,971)
- Current investments -€4,971
down €4,971 (-19.9%), from €24,971 to €20,000
- Debts after one year -€20,840
down €20,840 (-15.4%), from €135,121 to €114,281
of which Financial debts: -€17,656
- Reserves -€9,694
down €9,694 (-4.4%), from €221,730 to €212,035
of which Distributable reserves: -€9,694
- Gross operating margin +€4,360
up €4,360 (+7.7%), from €56,869 to €61,229
- Depreciation -€2,623
down €2,623 (-6.7%), from €38,886 to €36,263
- Staff costs +€1,127
up €1,127 (+4.4%), from €25,339 to €26,465
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 | €403,817 | €372,173 | -€31,644 | -7.8% |
| Fixed assets | 21/28 | €348,845 | €316,504 | -€32,341 | -9.3% |
| Tangible fixed assets | 22/27 | €347,864 | €315,523 | -€32,341 | -9.3% |
| Land and buildings | 22 | €332,171 | €302,653 | -€29,517 | -8.9% |
| Plant, machinery and equipment | 23 | €11,707 | €9,984 | -€1,723 | -14.7% |
| Furniture and vehicles | 24 | €3,986 | €2,885 | -€1,101 | -27.6% |
| Financial fixed assets | 28 | €981 | €981 | = | 0.0% |
| Current assets | 29/58 | €54,972 | €55,669 | +€697 | +1.3% |
| Stocks and contracts in progress | 3 | €447 | €533 | +€86 | +19.3% |
| Stocks | 30/36 | €447 | €533 | +€86 | +19.3% |
| Amounts receivable within one year | 40/41 | €9,586 | €7,399 | -€2,187 | -22.8% |
| Trade receivables | 40 | €1,485 | - | -€1,485 | |
| Other amounts receivable | 41 | €8,100 | €7,399 | -€702 | -8.7% |
| Current investments | 50/53 | €24,971 | €20,000 | -€4,971 | -19.9% |
| Cash at bank and in hand | 54/58 | €17,934 | €25,605 | +€7,671 | +42.8% |
| Deferred charges and accrued income | 490/1 | €2,035 | €2,132 | +€97 | +4.8% |
| Total equity and liabilities | 10/49 | €403,817 | €372,173 | -€31,644 | -7.8% |
| Equity | 10/15 | €240,330 | €230,635 | -€9,694 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,730 | €212,035 | -€9,694 | -4.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €95,922 | €95,922 | = | 0.0% |
| Distributable reserves | 133 | €123,948 | €114,254 | -€9,694 | -7.8% |
| Amounts payable | 17/49 | €163,487 | €141,537 | -€21,950 | -13.4% |
| Amounts payable after more than one year | 17 | €135,121 | €114,281 | -€20,840 | -15.4% |
| Financial debts | 170/4 | €124,952 | €107,295 | -€17,656 | -14.1% |
| Other amounts payable | 178/9 | €10,169 | €6,985 | -€3,184 | -31.3% |
| Amounts payable within one year | 42/48 | €28,274 | €27,257 | -€1,018 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €21,028 | €18,334 | -€2,695 | -12.8% |
| Trade debts | 44 | €1,360 | €2,642 | +€1,282 | +94.3% |
| Suppliers | 440/4 | €1,360 | €2,642 | +€1,282 | +94.3% |
| Taxes, remuneration and social security | 45 | €5,886 | €6,281 | +€395 | +6.7% |
| Taxes | 450/3 | - | €238 | +€238 | |
| Remuneration and social security | 454/9 | €5,886 | €6,043 | +€157 | +2.7% |
| Accrued charges and deferred income | 492/3 | €92 | - | -€92 | |
| Remuneration, social security and pensions | 62 | €25,339 | €26,465 | +€1,127 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,886 | €36,263 | -€2,623 | -6.7% |
| Other operating charges | 640/8 | €4,095 | €4,237 | +€141 | +3.5% |
| Gross operating margin | 9900 | €56,869 | €61,229 | +€4,360 | +7.7% |
| Operating profit (loss) | 9901 | -€11,452 | -€5,737 | +€5,715 | +49.9% |
| Financial income | 75/76B | €106 | €69 | -€37 | -35.0% |
| Recurring financial income | 75 | €106 | €69 | -€37 | -35.0% |
| Financial charges | 65/66B | €4,180 | €3,710 | -€470 | -11.2% |
| Recurring financial charges | 65 | €4,180 | €3,710 | -€470 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,525 | -€9,377 | +€6,148 | +39.6% |
| Income taxes | 67/77 | €315 | €317 | +€2 | +0.7% |
| Profit (loss) for the period | 9904 | -€15,840 | -€9,694 | +€6,146 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,840 | -€9,694 | +€6,146 | +38.8% |
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 30 October 2026 via checked.be.