GLAMA: what changed
GLAMA
Largest movements
- Receivables within one year -€7,831
down €7,831 (-18.8%), from €41,741 to €33,910
of which Other amounts receivable: -€4,242
- Cash -€7,286
down €7,286 (-87.3%), from €8,344 to €1,058
mainly Advances received (-€12,815) and Trade debts (-€9,208)
- Deferred charges and accrued income -€4,853
down €4,853 (-44.3%), from €10,947 to €6,094
- Advances received -€12,815
no longer reported in 2025 (was €12,815)
- Trade debts -€9,208
down €9,208 (-90.5%), from €10,176 to €968
- Profit (loss) carried forward +€1,191
up €1,191, from -€460 to €731
- Write-downs +€12,825
up €12,825 (+42.3%), from €30,296 to €43,121
- Gross operating margin -€4,879
down €4,879 (-10.0%), from €48,561 to €43,683
- Financial charges -€726
down €726 (-91.0%), from €798 to €72
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,099 | €41,764 | -€20,335 | -32.7% |
| Fixed assets | 21/28 | €1,068 | €702 | -€366 | -34.3% |
| Tangible fixed assets | 22/27 | €1,068 | €702 | -€366 | -34.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,068 | €702 | -€366 | -34.3% |
| Current assets | 29/58 | €61,032 | €41,062 | -€19,969 | -32.7% |
| Amounts receivable within one year | 40/41 | €41,741 | €33,910 | -€7,831 | -18.8% |
| Trade receivables | 40 | €7,209 | €3,620 | -€3,589 | -49.8% |
| Other amounts receivable | 41 | €34,532 | €30,290 | -€4,242 | -12.3% |
| Cash at bank and in hand | 54/58 | €8,344 | €1,058 | -€7,286 | -87.3% |
| Deferred charges and accrued income | 490/1 | €10,947 | €6,094 | -€4,853 | -44.3% |
| Total equity and liabilities | 10/49 | €62,099 | €41,764 | -€20,335 | -32.7% |
| Equity | 10/15 | €38,031 | €39,222 | +€1,191 | +3.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €26,091 | €26,091 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,865 | €9,865 | = | 0.0% |
| Distributable reserves | 133 | €14,226 | €14,226 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€460 | €731 | +€1,191 | |
| Amounts payable | 17/49 | €24,069 | €2,542 | -€21,526 | -89.4% |
| Amounts payable within one year | 42/48 | €24,069 | €2,542 | -€21,526 | -89.4% |
| Trade debts | 44 | €10,176 | €968 | -€9,208 | -90.5% |
| Suppliers | 440/4 | €10,176 | €968 | -€9,208 | -90.5% |
| Advances received on contracts in progress | 46 | €12,815 | - | -€12,815 | |
| Taxes, remuneration and social security | 45 | €1,077 | €1,574 | +€497 | +46.1% |
| Taxes | 450/3 | €1,077 | €1,574 | +€497 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31 | €366 | +€336 | +1,100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,296 | €43,121 | +€12,825 | +42.3% |
| Other operating charges | 640/8 | €180 | - | -€180 | |
| Gross operating margin | 9900 | €48,561 | €43,683 | -€4,879 | -10.0% |
| Operating profit (loss) | 9901 | €18,054 | €196 | -€17,859 | -98.9% |
| Financial income | 75/76B | €1,208 | €1,565 | +€357 | +29.5% |
| Recurring financial income | 75 | €1,208 | €1,565 | +€357 | +29.5% |
| Financial charges | 65/66B | €798 | €72 | -€726 | -91.0% |
| Recurring financial charges | 65 | €798 | €72 | -€726 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €18,464 | €1,688 | -€16,776 | -90.9% |
| Income taxes | 67/77 | €958 | €497 | -€460 | -48.1% |
| Profit (loss) for the period | 9904 | €17,507 | €1,191 | -€16,316 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,507 | €1,191 | -€16,316 | -93.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.