GLAMAC: 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.
GLAMAC
Largest movements
- Tangible fixed assets -€19,576
down €19,576 (-3.9%), from €505,929 to €486,354
- Debts after one year -€37,511
down €37,511 (-74.6%), from €50,312 to €12,800
- Profit (loss) carried forward +€7,840
up €7,840 (+20.6%), from €38,063 to €45,904
- Other debts +€6,267
up €6,267 (+4.4%), from €143,916 to €150,183
- Accrued charges and deferred income +€5,961
up €5,961 (+1,099%), from €542 to €6,503
- Gross operating margin -€9,069
down €9,069 (-20.9%), from €43,364 to €34,295
- Taxes -€7,861
down €7,861 (-67.5%), from €11,646 to €3,785
- Depreciation -€1,608
down €1,608 (-7.6%), from €21,184 to €19,576
- Financial charges -€773
down €773 (-17.8%), from €4,343 to €3,570
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 | €507,835 | €486,927 | -€20,909 | -4.1% |
| Fixed assets | 21/28 | €505,929 | €486,354 | -€19,576 | -3.9% |
| Tangible fixed assets | 22/27 | €505,929 | €486,354 | -€19,576 | -3.9% |
| Land and buildings | 22 | €505,929 | €486,354 | -€19,576 | -3.9% |
| Current assets | 29/58 | €1,906 | €573 | -€1,333 | -69.9% |
| Amounts receivable within one year | 40/41 | €783 | €0 | -€783 | -100% |
| Trade receivables | 40 | €783 | €0 | -€783 | -100% |
| Cash at bank and in hand | 54/58 | €26 | €1 | -€25 | -97.7% |
| Deferred charges and accrued income | 490/1 | €1,097 | €572 | -€525 | -47.8% |
| Total equity and liabilities | 10/49 | €507,835 | €486,927 | -€20,909 | -4.1% |
| Equity | 10/15 | €215,967 | €219,294 | +€3,327 | +1.5% |
| Contributions | 10/11 | €87,631 | €87,631 | = | 0.0% |
| Reserves | 13 | €90,272 | €85,759 | -€4,513 | -5.0% |
| Tax-exempt reserves | 132 | €90,272 | €85,759 | -€4,513 | -5.0% |
| Profit (loss) carried forward | 14 | €38,063 | €45,904 | +€7,840 | +20.6% |
| Provisions and deferred taxes | 16 | €46,483 | €44,159 | -€2,324 | -5.0% |
| Deferred taxes | 168 | €46,483 | €44,159 | -€2,324 | -5.0% |
| Amounts payable | 17/49 | €245,386 | €223,474 | -€21,912 | -8.9% |
| Amounts payable after more than one year | 17 | €50,312 | €12,800 | -€37,511 | -74.6% |
| Financial debts | 170/4 | €50,312 | €12,800 | -€37,511 | -74.6% |
| Amounts payable within one year | 42/48 | €194,532 | €204,170 | +€9,638 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €39,172 | €43,635 | +€4,463 | +11.4% |
| Financial debts | 43 | €4,189 | €4,196 | +€7 | +0.2% |
| Credit institutions | 430/8 | €4,189 | €4,196 | +€7 | +0.2% |
| Trade debts | 44 | €7,254 | €6,155 | -€1,099 | -15.1% |
| Suppliers | 440/4 | €7,254 | €6,155 | -€1,099 | -15.1% |
| Other amounts payable | 47/48 | €143,916 | €150,183 | +€6,267 | +4.4% |
| Accrued charges and deferred income | 492/3 | €542 | €6,503 | +€5,961 | +1,099% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,184 | €19,576 | -€1,608 | -7.6% |
| Other operating charges | 640/8 | €6,397 | €6,361 | -€36 | -0.6% |
| Gross operating margin | 9900 | €43,364 | €34,295 | -€9,069 | -20.9% |
| Operating profit (loss) | 9901 | €15,783 | €8,358 | -€7,424 | -47.0% |
| Financial charges | 65/66B | €4,343 | €3,570 | -€773 | -17.8% |
| Recurring financial charges | 65 | €4,343 | €3,570 | -€773 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €11,440 | €4,789 | -€6,651 | -58.1% |
| Transfer from deferred taxes | 780 | €2,324 | €2,324 | = | 0.0% |
| Income taxes | 67/77 | €11,646 | €3,785 | -€7,861 | -67.5% |
| Profit (loss) for the period | 9904 | €2,118 | €3,327 | +€1,210 | +57.1% |
| Transfer from tax-exempt reserves | 789 | €4,513 | €4,513 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,630 | €7,840 | +€1,210 | +18.2% |
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 15 October 2026 via checked.be.