GLAMU: 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.
GLAMU
Largest movements
- Tangible fixed assets -€12,011
down €12,011 (-12.5%), from €95,791 to €83,780
of which Plant, machinery and equipment: -€6,157
- Receivables within one year -€2,292
down €2,292 (-2.9%), from €79,092 to €76,800
of which Trade receivables: -€2,329
- Debts after one year -€11,053
down €11,053 (-11.1%), from €99,615 to €88,562
- Tax, wage and social debts +€6,211
up €6,211 (+188%), from €3,300 to €9,511
- Trade debts -€5,758
down €5,758 (-47.9%), from €12,029 to €6,271
- Advances received -€3,738
down €3,738 (-100%), from €3,738 to €0
- Profit (loss) carried forward +€2,955
up €2,955 (+7.6%), from €39,108 to €42,064
- Gross operating margin -€2,149
down €2,149 (-10.6%), from €20,208 to €18,059
- Financial charges -€1,208
down €1,208 (-21.7%), from €5,564 to €4,356
- Taxes +€573
up €573 (+72.3%), from €793 to €1,366
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 | €179,350 | €164,799 | -€14,552 | -8.1% |
| Fixed assets | 21/28 | €95,791 | €83,780 | -€12,011 | -12.5% |
| Tangible fixed assets | 22/27 | €95,791 | €83,780 | -€12,011 | -12.5% |
| Land and buildings | 22 | €78,643 | €72,956 | -€5,687 | -7.2% |
| Plant, machinery and equipment | 23 | €16,587 | €10,430 | -€6,157 | -37.1% |
| Furniture and vehicles | 24 | €561 | €394 | -€167 | -29.8% |
| Current assets | 29/58 | €83,559 | €81,018 | -€2,540 | -3.0% |
| Stocks and contracts in progress | 3 | €3,501 | €3,002 | -€499 | -14.3% |
| Stocks | 30/36 | €3,501 | €3,002 | -€499 | -14.3% |
| Amounts receivable within one year | 40/41 | €79,092 | €76,800 | -€2,292 | -2.9% |
| Trade receivables | 40 | €8,646 | €6,318 | -€2,329 | -26.9% |
| Other amounts receivable | 41 | €70,446 | €70,482 | +€37 | +0.1% |
| Cash at bank and in hand | 54/58 | €29 | €0 | -€29 | -100% |
| Deferred charges and accrued income | 490/1 | €937 | €1,216 | +€280 | +29.8% |
| Total equity and liabilities | 10/49 | €179,350 | €164,799 | -€14,552 | -8.1% |
| Equity | 10/15 | €44,108 | €47,064 | +€2,955 | +6.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,108 | €42,064 | +€2,955 | +7.6% |
| Amounts payable | 17/49 | €135,242 | €117,735 | -€17,507 | -12.9% |
| Amounts payable after more than one year | 17 | €99,615 | €88,562 | -€11,053 | -11.1% |
| Financial debts | 170/4 | €99,615 | €88,562 | -€11,053 | -11.1% |
| Amounts payable within one year | 42/48 | €35,052 | €28,932 | -€6,121 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €12,656 | €11,053 | -€1,603 | -12.7% |
| Financial debts | 43 | €3,330 | €2,097 | -€1,233 | -37.0% |
| Credit institutions | 430/8 | €3,330 | €2,097 | -€1,233 | -37.0% |
| Trade debts | 44 | €12,029 | €6,271 | -€5,758 | -47.9% |
| Suppliers | 440/4 | €12,029 | €6,271 | -€5,758 | -47.9% |
| Advances received on contracts in progress | 46 | €3,738 | €0 | -€3,738 | -100% |
| Taxes, remuneration and social security | 45 | €3,300 | €9,511 | +€6,211 | +188% |
| Taxes | 450/3 | €3,300 | €9,511 | +€6,211 | +188% |
| Accrued charges and deferred income | 492/3 | €575 | €241 | -€333 | -58.0% |
| Non-recurring operating income | 76A | €0 | €15,634 | +€15,634 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,107 | €12,011 | -€96 | -0.8% |
| Other operating charges | 640/8 | €1,121 | €1,095 | -€26 | -2.3% |
| Gross operating margin | 9900 | €20,208 | €18,059 | -€2,149 | -10.6% |
| Operating profit (loss) | 9901 | €6,980 | €4,954 | -€2,026 | -29.0% |
| Financial income | 75/76B | €3,776 | €3,724 | -€53 | -1.4% |
| Recurring financial income | 75 | €3,776 | €3,724 | -€53 | -1.4% |
| Financial charges | 65/66B | €5,564 | €4,356 | -€1,208 | -21.7% |
| Recurring financial charges | 65 | €5,564 | €4,356 | -€1,208 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €5,192 | €4,321 | -€871 | -16.8% |
| Income taxes | 67/77 | €793 | €1,366 | +€573 | +72.3% |
| Profit (loss) for the period | 9904 | €4,400 | €2,955 | -€1,444 | -32.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,400 | €2,955 | -€1,444 | -32.8% |
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 20 October 2026 via checked.be.