GLADIS: 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.
GLADIS
Largest movements
- Tangible fixed assets -€151,400
down €151,400 (-13.6%), from €1.1m to €960,278
of which Land and buildings: -€77,759
- Receivables within one year +€67,448
up €67,448 (+94.4%), from €71,427 to €138,875
of which Trade receivables: +€95,788
- Cash -€65,724
down €65,724 (-11.7%), from €562,358 to €496,633
mainly Contributions, distributions and other (-€125,000) and Debts after one year (-€110,917)
- Stocks and contracts +€58,699
up €58,699 (+20.2%), from €290,175 to €348,874
- Debts after one year -€110,917
down €110,917 (-30.8%), from €360,418 to €249,501
- Trade debts +€98,606
up €98,606 (+22.4%), from €441,174 to €539,780
- Current portion of long-term debt -€84,868
down €84,868 (-40.4%), from €210,320 to €125,452
- Other debts +€80,000
up €80,000 (+177.8%), from €45,000 to €125,000
- Reserves -€50,000
down €50,000 (-6.5%), from €768,720 to €718,720
of which Distributable reserves: -€50,000
- Turnover -€6.7m
no longer reported in 2025 (was €6.7m)
- Purchases and services -€5.7m
no longer reported in 2025 (was €5.7m)
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 | €2,037,191 | €1,958,671 | -€78,520 | -3.9% |
| Fixed assets | 21/28 | €1,112,617 | €961,218 | -€151,400 | -13.6% |
| Tangible fixed assets | 22/27 | €1,111,677 | €960,278 | -€151,400 | -13.6% |
| Land and buildings | 22 | €822,230 | €744,471 | -€77,759 | -9.5% |
| Plant, machinery and equipment | 23 | €261,301 | €196,597 | -€64,703 | -24.8% |
| Furniture and vehicles | 24 | €28,147 | €19,210 | -€8,937 | -31.8% |
| Financial fixed assets | 28 | €940 | €940 | = | 0.0% |
| Current assets | 29/58 | €924,574 | €997,453 | +€72,879 | +7.9% |
| Stocks and contracts in progress | 3 | €290,175 | €348,874 | +€58,699 | +20.2% |
| Stocks | 30/36 | €290,175 | €348,874 | +€58,699 | +20.2% |
| Amounts receivable within one year | 40/41 | €71,427 | €138,875 | +€67,448 | +94.4% |
| Trade receivables | 40 | €33,622 | €129,410 | +€95,788 | +284.9% |
| Other amounts receivable | 41 | €37,805 | €9,465 | -€28,340 | -75.0% |
| Cash at bank and in hand | 54/58 | €562,358 | €496,633 | -€65,724 | -11.7% |
| Deferred charges and accrued income | 490/1 | €614 | €13,071 | +€12,457 | +2028.8% |
| Total equity and liabilities | 10/49 | €2,037,191 | €1,958,671 | -€78,520 | -3.9% |
| Equity | 10/15 | €839,118 | €793,556 | -€45,562 | -5.4% |
| Contributions | 10/11 | €57,200 | €57,200 | = | 0.0% |
| Reserves | 13 | €768,720 | €718,720 | -€50,000 | -6.5% |
| Non-distributable reserves | 130/1 | €13,720 | €13,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,720 | €13,720 | = | 0.0% |
| Distributable reserves | 133 | €755,000 | €705,000 | -€50,000 | -6.6% |
| Profit (loss) carried forward | 14 | €13,198 | €17,636 | +€4,438 | +33.6% |
| Amounts payable | 17/49 | €1,198,073 | €1,165,115 | -€32,958 | -2.8% |
| Amounts payable after more than one year | 17 | €360,418 | €249,501 | -€110,917 | -30.8% |
| Financial debts | 170/4 | €360,418 | €249,501 | -€110,917 | -30.8% |
| Amounts payable within one year | 42/48 | €823,842 | €908,566 | +€84,723 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €210,320 | €125,452 | -€84,868 | -40.4% |
| Trade debts | 44 | €441,174 | €539,780 | +€98,606 | +22.4% |
| Suppliers | 440/4 | €441,174 | €539,780 | +€98,606 | +22.4% |
| Taxes, remuneration and social security | 45 | €127,349 | €118,334 | -€9,015 | -7.1% |
| Taxes | 450/3 | €73,581 | €56,582 | -€16,999 | -23.1% |
| Remuneration and social security | 454/9 | €53,767 | €61,751 | +€7,984 | +14.8% |
| Other amounts payable | 47/48 | €45,000 | €125,000 | +€80,000 | +177.8% |
| Accrued charges and deferred income | 492/3 | €13,812 | €7,049 | -€6,764 | -49.0% |
| Turnover | 70 | €6,742,160 | - | -€6.7m | |
| Goods, raw materials, services and sundry goods | 60/61 | €5,705,391 | - | -€5.7m | |
| Remuneration, social security and pensions | 62 | €607,830 | €630,587 | +€22,757 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,892 | €177,076 | -€43,816 | -19.8% |
| Other operating charges | 640/8 | €32,392 | €30,161 | -€2,230 | -6.9% |
| Gross operating margin | 9900 | €1,036,769 | €991,225 | -€45,544 | -4.4% |
| Operating profit (loss) | 9901 | €175,655 | €153,400 | -€22,255 | -12.7% |
| Financial income | 75/76B | €369 | €2,478 | +€2,109 | +571.6% |
| Recurring financial income | 75 | €369 | €2,478 | +€2,109 | +571.6% |
| Financial charges | 65/66B | €30,309 | €40,172 | +€9,863 | +32.5% |
| Recurring financial charges | 65 | €30,309 | €40,172 | +€9,863 | +32.5% |
| Profit (loss) for the period before taxes | 9903 | €145,715 | €115,706 | -€30,009 | -20.6% |
| Income taxes | 67/77 | €57,487 | €36,268 | -€21,219 | -36.9% |
| Profit (loss) for the period | 9904 | €88,228 | €79,438 | -€8,790 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €88,228 | €79,438 | -€8,790 | -10.0% |
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 4 October 2026 via checked.be.