GLAM CODE: 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.
GLAM CODE
Largest movements
- Stocks and contracts -€28,200
down €28,200 (-89.5%), from €31,500 to €3,300
- Cash -€8,832
down €8,832 (-90.1%), from €9,803 to €971
- Receivables within one year -€3,482
down €3,482 (-44.0%), from €7,917 to €4,435
- Deferred charges and accrued income +€1,107
up €1,107, from €0 to €1,107
- Profit (loss) carried forward -€65,205
down €65,205 (-168%), from -€38,730 to -€103,935
- Other debts +€49,640
up €49,640 (+126%), from €39,368 to €89,008
- Tax, wage and social debts -€12,997
down €12,997 (-70.8%), from €18,349 to €5,352
of which Taxes: -€6,803
- Trade debts -€10,639
down €10,639 (-40.3%), from €26,378 to €15,739
- Gross operating margin -€67,274
down €67,274, from €27,881 to -€39,393
- Other operating charges +€2,995
up €2,995 (+209%), from €1,434 to €4,428
- Taxes -€1,173
down €1,173 (-60.6%), from €1,936 to €763
- Staff costs -€865
down €865 (-5.2%), from €16,701 to €15,836
- Financial charges +€828
up €828 (+37.4%), from €2,216 to €3,044
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €57,765 | €18,564 | -€39,201 | -67.9% |
| Fixed assets | 21/28 | €8,546 | €8,751 | +€206 | +2.4% |
| Tangible fixed assets | 22/27 | €2,996 | €3,201 | +€206 | +6.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €449 | €0 | -€449 | -100% |
| Other tangible fixed assets | 26 | €2,547 | €3,201 | +€654 | +25.7% |
| Financial fixed assets | 28 | €5,550 | €5,550 | = | 0.0% |
| Current assets | 29/58 | €49,219 | €9,813 | -€39,407 | -80.1% |
| Stocks and contracts in progress | 3 | €31,500 | €3,300 | -€28,200 | -89.5% |
| Stocks | 30/36 | €31,500 | €3,300 | -€28,200 | -89.5% |
| Amounts receivable within one year | 40/41 | €7,917 | €4,435 | -€3,482 | -44.0% |
| Trade receivables | 40 | €7,917 | €4,435 | -€3,482 | -44.0% |
| Cash at bank and in hand | 54/58 | €9,803 | €971 | -€8,832 | -90.1% |
| Deferred charges and accrued income | 490/1 | €0 | €1,107 | +€1,107 | |
| Total equity and liabilities | 10/49 | €57,765 | €18,564 | -€39,201 | -67.9% |
| Equity | 10/15 | -€26,330 | -€91,535 | -€65,205 | -248% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,730 | -€103,935 | -€65,205 | -168% |
| Amounts payable | 17/49 | €84,095 | €110,099 | +€26,004 | +30.9% |
| Amounts payable within one year | 42/48 | €84,095 | €110,099 | +€26,004 | +30.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €26,378 | €15,739 | -€10,639 | -40.3% |
| Suppliers | 440/4 | €26,378 | €15,739 | -€10,639 | -40.3% |
| Taxes, remuneration and social security | 45 | €18,349 | €5,352 | -€12,997 | -70.8% |
| Taxes | 450/3 | €7,655 | €852 | -€6,803 | -88.9% |
| Remuneration and social security | 454/9 | €10,694 | €4,500 | -€6,194 | -57.9% |
| Other amounts payable | 47/48 | €39,368 | €89,008 | +€49,640 | +126% |
| Remuneration, social security and pensions | 62 | €16,701 | €15,836 | -€865 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,528 | €1,744 | -€784 | -31.0% |
| Other operating charges | 640/8 | €1,434 | €4,428 | +€2,995 | +209% |
| Gross operating margin | 9900 | €27,881 | -€39,393 | -€67,274 | |
| Operating profit (loss) | 9901 | €7,219 | -€61,401 | -€68,620 | |
| Financial income | 75/76B | €39 | €3 | -€36 | -92.1% |
| Recurring financial income | 75 | €39 | €3 | -€36 | -92.1% |
| Financial charges | 65/66B | €2,216 | €3,044 | +€828 | +37.4% |
| Recurring financial charges | 65 | €2,216 | €3,044 | +€828 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €5,042 | -€64,442 | -€69,484 | |
| Income taxes | 67/77 | €1,936 | €763 | -€1,173 | -60.6% |
| Profit (loss) for the period | 9904 | €3,106 | -€65,205 | -€68,311 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,106 | -€65,205 | -€68,311 |
Source: filed annual accounts (NBB), financial years ended 30 September 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.