Glaede: 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.
Glaede
Largest movements
- Deferred charges and accrued income +€98,034
up €98,034 (+365.8%), from €26,798 to €124,831
- Cash +€44,970
up €44,970 (+386.2%), from €11,645 to €56,615
mainly Debts after one year (+€118,031) and Current portion of long-term debt (+€30,244)
- Receivables within one year +€26,165
up €26,165 (+199.4%), from €13,122 to €39,287
of which Trade receivables: +€17,543
- Tangible fixed assets +€5,678
up €5,678 (+55.8%), from €10,170 to €15,848
- Debts after one year +€118,031
up €118,031 (+683.9%), from €17,258 to €135,288
- Current portion of long-term debt +€30,244
up €30,244 (+664.8%), from €4,549 to €34,793
- Other debts +€19,585
up €19,585 (+534.4%), from €3,665 to €23,250
- Trade debts +€14,990
up €14,990 (+177.9%), from €8,428 to €23,418
- Short-term financial debts +€7,071
new in 2025: €7,071
- Gross operating margin +€12,399
up €12,399 (+47.7%), from €25,985 to €38,384
- Financial charges +€7,488
up €7,488 (+575.0%), from €1,302 to €8,790
- Other operating charges +€6,528
up €6,528 (+641.3%), from €1,018 to €7,546
- Staff costs +€4,342
up €4,342 (+25.0%), from €17,343 to €21,686
- Taxes +€1,661
up €1,661 (+54.2%), from €3,067 to €4,728
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 | €61,735 | €236,582 | +€174,847 | +283.2% |
| Fixed assets | 21/28 | €10,170 | €15,848 | +€5,678 | +55.8% |
| Tangible fixed assets | 22/27 | €10,170 | €15,848 | +€5,678 | +55.8% |
| Furniture and vehicles | 24 | €10,170 | €15,848 | +€5,678 | +55.8% |
| Current assets | 29/58 | €51,565 | €220,734 | +€169,169 | +328.1% |
| Amounts receivable within one year | 40/41 | €13,122 | €39,287 | +€26,165 | +199.4% |
| Trade receivables | 40 | €12,015 | €29,557 | +€17,543 | +146.0% |
| Other amounts receivable | 41 | €1,107 | €9,730 | +€8,623 | +778.7% |
| Cash at bank and in hand | 54/58 | €11,645 | €56,615 | +€44,970 | +386.2% |
| Deferred charges and accrued income | 490/1 | €26,798 | €124,831 | +€98,034 | +365.8% |
| Total equity and liabilities | 10/49 | €61,735 | €236,582 | +€174,847 | +283.2% |
| Equity | 10/15 | €11,319 | €4,256 | -€7,063 | -62.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,447 | €5,447 | = | 0.0% |
| Distributable reserves | 133 | €5,447 | €5,447 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,872 | -€3,191 | -€7,063 | |
| Amounts payable | 17/49 | €50,416 | €232,326 | +€181,910 | +360.8% |
| Amounts payable after more than one year | 17 | €17,258 | €135,288 | +€118,031 | +683.9% |
| Financial debts | 170/4 | €17,258 | €135,288 | +€118,031 | +683.9% |
| Amounts payable within one year | 42/48 | €26,140 | €97,037 | +€70,897 | +271.2% |
| Current portion of amounts payable after more than one year | 42 | €4,549 | €34,793 | +€30,244 | +664.8% |
| Financial debts | 43 | - | €7,071 | +€7,071 | |
| Credit institutions | 430/8 | - | €7,071 | +€7,071 | |
| Trade debts | 44 | €8,428 | €23,418 | +€14,990 | +177.9% |
| Suppliers | 440/4 | €8,428 | €23,418 | +€14,990 | +177.9% |
| Taxes, remuneration and social security | 45 | €9,498 | €8,506 | -€992 | -10.4% |
| Taxes | 450/3 | €4,889 | €8,506 | +€3,617 | +74.0% |
| Remuneration and social security | 454/9 | €4,609 | €0 | -€4,609 | -100.0% |
| Other amounts payable | 47/48 | €3,665 | €23,250 | +€19,585 | +534.4% |
| Accrued charges and deferred income | 492/3 | €7,018 | €0 | -€7,018 | -100.0% |
| Remuneration, social security and pensions | 62 | €17,343 | €21,686 | +€4,342 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,258 | €2,815 | +€1,557 | +123.8% |
| Other operating charges | 640/8 | €1,018 | €7,546 | +€6,528 | +641.3% |
| Gross operating margin | 9900 | €25,985 | €38,384 | +€12,399 | +47.7% |
| Operating profit (loss) | 9901 | €6,366 | €6,337 | -€28 | -0.4% |
| Financial income | 75/76B | €0 | €118 | +€118 | |
| Recurring financial income | 75 | €0 | €118 | +€118 | |
| Financial charges | 65/66B | €1,302 | €8,790 | +€7,488 | +575.0% |
| Recurring financial charges | 65 | €1,302 | €8,790 | +€7,488 | +575.0% |
| Profit (loss) for the period before taxes | 9903 | €5,063 | -€2,335 | -€7,398 | |
| Income taxes | 67/77 | €3,067 | €4,728 | +€1,661 | +54.2% |
| Profit (loss) for the period | 9904 | €1,996 | -€7,063 | -€9,059 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,996 | -€7,063 | -€9,059 |
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.