Glamm: 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.
Glamm
Largest movements
- Receivables within one year +€544,495
up €544,495 (+176.0%), from €309,336 to €853,830
of which Other amounts receivable: +€555,467
- Cash -€94,460
down €94,460 (-62.5%), from €151,031 to €56,571
mainly Receivables within one year (-€544,495) and Investment in fixed assets (net) (-€5,318)
- Stocks and contracts -€61,996
down €61,996 (-15.2%), from €408,450 to €346,454
- Trade debts +€143,962
up €143,962 (+117.8%), from €122,237 to €266,199
- Reserves +€119,470
up €119,470 (+26.8%), from €445,000 to €564,470
of which Distributable reserves: +€119,470
- Tax, wage and social debts +€46,000
up €46,000 (+48.5%), from €94,801 to €140,801
of which Taxes: +€44,983
- Current portion of long-term debt +€34,086
up €34,086 (+20.7%), from €164,954 to €199,040
- Other debts +€32,994
up €32,994 (+52.8%), from €62,500 to €95,494
- Financial income +€25,312
new in 2025: €25,312
- Other operating charges +€20,286
up €20,286 (+98.0%), from €20,710 to €40,996
- Gross operating margin +€19,995
up €19,995 (+4.6%), from €434,093 to €454,088
- Staff costs +€12,686
up €12,686 (+6.4%), from €199,322 to €212,007
- Taxes +€11,019
up €11,019 (+19.0%), from €57,871 to €68,890
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 | €1,079,806 | €1,468,452 | +€388,646 | +36.0% |
| Fixed assets | 21/28 | €94,948 | €94,089 | -€858 | -0.9% |
| Intangible fixed assets | 21 | €6,125 | €4,325 | -€1,800 | -29.4% |
| Tangible fixed assets | 22/27 | €9,294 | €10,262 | +€968 | +10.4% |
| Plant, machinery and equipment | 23 | €3,889 | €7,202 | +€3,313 | +85.2% |
| Furniture and vehicles | 24 | €5,405 | €3,060 | -€2,346 | -43.4% |
| Financial fixed assets | 28 | €79,529 | €79,503 | -€26 | 0.0% |
| Current assets | 29/58 | €984,858 | €1,374,363 | +€389,505 | +39.5% |
| Amounts receivable after more than one year | 29 | €115,000 | €115,000 | = | 0.0% |
| Trade receivables | 290 | €115,000 | €0 | -€115,000 | -100.0% |
| Other amounts receivable | 291 | - | €115,000 | +€115,000 | |
| Stocks and contracts in progress | 3 | €408,450 | €346,454 | -€61,996 | -15.2% |
| Stocks | 30/36 | €408,450 | €346,454 | -€61,996 | -15.2% |
| Amounts receivable within one year | 40/41 | €309,336 | €853,830 | +€544,495 | +176.0% |
| Trade receivables | 40 | €30,662 | €19,690 | -€10,972 | -35.8% |
| Other amounts receivable | 41 | €278,674 | €834,141 | +€555,467 | +199.3% |
| Current investments | 50/53 | €0 | €0 | -€0 | -100.0% |
| Cash at bank and in hand | 54/58 | €151,031 | €56,571 | -€94,460 | -62.5% |
| Deferred charges and accrued income | 490/1 | €1,042 | €2,508 | +€1,466 | +140.6% |
| Total equity and liabilities | 10/49 | €1,079,806 | €1,468,452 | +€388,646 | +36.0% |
| Equity | 10/15 | €497,915 | €617,386 | +€119,470 | +24.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €445,000 | €564,470 | +€119,470 | +26.8% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €443,000 | €562,470 | +€119,470 | +27.0% |
| Profit (loss) carried forward | 14 | €32,915 | €32,915 | = | 0.0% |
| Amounts payable | 17/49 | €581,890 | €851,067 | +€269,176 | +46.3% |
| Amounts payable after more than one year | 17 | €132,399 | €128,748 | -€3,651 | -2.8% |
| Financial debts | 170/4 | €132,399 | €128,748 | -€3,651 | -2.8% |
| Amounts payable within one year | 42/48 | €449,491 | €722,318 | +€272,827 | +60.7% |
| Current portion of amounts payable after more than one year | 42 | €164,954 | €199,040 | +€34,086 | +20.7% |
| Financial debts | 43 | €5,000 | €20,785 | +€15,785 | +315.7% |
| Credit institutions | 430/8 | €5,000 | €20,785 | +€15,785 | +315.7% |
| Trade debts | 44 | €122,237 | €266,199 | +€143,962 | +117.8% |
| Suppliers | 440/4 | €122,237 | €266,199 | +€143,962 | +117.8% |
| Taxes, remuneration and social security | 45 | €94,801 | €140,801 | +€46,000 | +48.5% |
| Taxes | 450/3 | €60,312 | €105,295 | +€44,983 | +74.6% |
| Remuneration and social security | 454/9 | €34,488 | €35,506 | +€1,017 | +2.9% |
| Other amounts payable | 47/48 | €62,500 | €95,494 | +€32,994 | +52.8% |
| Non-recurring operating income | 76A | €28,790 | €1,452 | -€27,338 | -95.0% |
| Remuneration, social security and pensions | 62 | €199,322 | €212,007 | +€12,686 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,453 | €6,176 | +€724 | +13.3% |
| Other operating charges | 640/8 | €20,710 | €40,996 | +€20,286 | +98.0% |
| Gross operating margin | 9900 | €434,093 | €454,088 | +€19,995 | +4.6% |
| Operating profit (loss) | 9901 | €208,608 | €194,908 | -€13,700 | -6.6% |
| Financial income | 75/76B | - | €25,312 | +€25,312 | |
| Recurring financial income | 75 | - | €25,312 | +€25,312 | |
| Financial charges | 65/66B | €31,837 | €31,859 | +€22 | +0.1% |
| Recurring financial charges | 65 | €31,837 | €31,859 | +€22 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €176,771 | €188,361 | +€11,590 | +6.6% |
| Income taxes | 67/77 | €57,871 | €68,890 | +€11,019 | +19.0% |
| Profit (loss) for the period | 9904 | €118,900 | €119,470 | +€570 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €118,900 | €119,470 | +€570 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.