GLAMONA: 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.
What changed
GLAMONA
NACE 50.400, Inland freight water transport
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€137,515
2024 · -€140,011+€2,496
Equity
€1.6m
2024 · €1.7m-€137,515
Cash
€160,021
2024 · €144,939+€15,082
Balance sheet total
€3.0m
2024 · €3.3m-€334,091
Largest movements
Assets
- Tangible fixed assets -€376,970
down €376,970 (-19.8%), from €1.9m to €1.5m
of which Plant, machinery and equipment: -€373,002
Equity and liabilities
- Debts after one year -€197,333
down €197,333 (-14.1%), from €1.4m to €1.2m
of which Financial debts: -€161,333
- Profit (loss) carried forward -€137,515
down €137,515 (-23.0%), from -€597,966 to -€735,480
Income statement
- Depreciation +€8,084
up €8,084 (+2.2%), from €372,224 to €380,308
- Taxes -€5,398
down €5,398 (-88.7%), from €6,082 to €684
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.
Result 2024
-€140,011
Gross operating margin
-€3,986
Staff costs
+€1,240
Depreciation
-€8,084
Other operating charges
+€780
Other operating items
+€4,800
Financial income
-€708
Financial charges
+€3,056
Taxes
+€5,398
Result 2025
-€137,515
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€215,916
Investment
-€3,338
Financing
-€197,496
Cash 2024
€144,939
From operations (derived)
+€215,916
Net result for the year
-€137,515
Depreciation
+€380,308
Receivables within one year
-€30,103
Deferred charges and accrued income
+€2,305
Smaller working-capital items
+€919
Investment (derived)
-€3,338
Investment in fixed assets (net)
-€3,338
Financing
-€197,496
Debts after one year
-€197,333
Short-term financial debts
-€163
Cash 2025
€160,021
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,348,304 | €3,014,213 | -€334,091 | -10.0% |
| Fixed assets | 21/28 | €2,056,001 | €1,679,030 | -€376,970 | -18.3% |
| Tangible fixed assets | 22/27 | €1,900,181 | €1,523,210 | -€376,970 | -19.8% |
| Plant, machinery and equipment | 23 | €1,879,639 | €1,506,637 | -€373,002 | -19.8% |
| Furniture and vehicles | 24 | €20,542 | €16,574 | -€3,969 | -19.3% |
| Financial fixed assets | 28 | €155,820 | €155,820 | = | 0.0% |
| Current assets | 29/58 | €1,292,303 | €1,335,183 | +€42,879 | +3.3% |
| Amounts receivable after more than one year | 29 | €900,000 | €900,000 | = | 0.0% |
| Other amounts receivable | 291 | €900,000 | €900,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €227,923 | €258,025 | +€30,103 | +13.2% |
| Trade receivables | 40 | €149,591 | €150,273 | +€681 | +0.5% |
| Other amounts receivable | 41 | €78,331 | €107,753 | +€29,421 | +37.6% |
| Cash at bank and in hand | 54/58 | €144,939 | €160,021 | +€15,082 | +10.4% |
| Deferred charges and accrued income | 490/1 | €19,442 | €17,137 | -€2,305 | -11.9% |
| Total equity and liabilities | 10/49 | €3,348,304 | €3,014,213 | -€334,091 | -10.0% |
| Equity | 10/15 | €1,704,508 | €1,566,993 | -€137,515 | -8.1% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €2,222,474 | €2,222,474 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,000 | €28,000 | = | 0.0% |
| Legal reserve | 130 | €28,000 | €28,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,194,474 | €2,194,474 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€597,966 | -€735,480 | -€137,515 | -23.0% |
| Amounts payable | 17/49 | €1,643,796 | €1,447,220 | -€196,577 | -12.0% |
| Amounts payable after more than one year | 17 | €1,396,326 | €1,198,992 | -€197,333 | -14.1% |
| Financial debts | 170/4 | €1,317,556 | €1,156,223 | -€161,333 | -12.2% |
| Other amounts payable | 178/9 | €78,770 | €42,770 | -€36,000 | -45.7% |
| Amounts payable within one year | 42/48 | €247,471 | €248,227 | +€757 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €161,333 | €161,333 | = | 0.0% |
| Financial debts | 43 | €37,185 | €37,022 | -€163 | -0.4% |
| Credit institutions | 430/8 | €1,185 | €1,022 | -€163 | -13.7% |
| Other loans | 439 | €36,000 | €36,000 | = | 0.0% |
| Trade debts | 44 | €32,597 | €33,121 | +€524 | +1.6% |
| Suppliers | 440/4 | €32,597 | €33,121 | +€524 | +1.6% |
| Taxes, remuneration and social security | 45 | €16,355 | €16,750 | +€396 | +2.4% |
| Taxes | 450/3 | €628 | €684 | +€56 | +9.0% |
| Remuneration and social security | 454/9 | €15,727 | €16,066 | +€339 | +2.2% |
| Remuneration, social security and pensions | 62 | €132,170 | €130,929 | -€1,240 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €372,224 | €380,308 | +€8,084 | +2.2% |
| Other operating charges | 640/8 | €6,277 | €5,496 | -€780 | -12.4% |
| Non-recurring operating charges | 66A | €4,800 | €0 | -€4,800 | -100% |
| Gross operating margin | 9900 | €443,224 | €439,238 | -€3,986 | -0.9% |
| Operating profit (loss) | 9901 | -€72,247 | -€77,496 | -€5,250 | -7.3% |
| Financial income | 75/76B | €27,916 | €27,209 | -€708 | -2.5% |
| Recurring financial income | 75 | €27,916 | €27,209 | -€708 | -2.5% |
| Financial charges | 65/66B | €89,598 | €86,543 | -€3,056 | -3.4% |
| Recurring financial charges | 65 | €89,598 | €86,543 | -€3,056 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€133,929 | -€136,830 | -€2,902 | -2.2% |
| Income taxes | 67/77 | €6,082 | €684 | -€5,398 | -88.7% |
| Profit (loss) for the period | 9904 | -€140,011 | -€137,515 | +€2,496 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,011 | -€137,515 | +€2,496 | +1.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.