GLANO: 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.
GLANO
Largest movements
- Receivables within one year +€76,458
up €76,458 (+250.7%), from €30,492 to €106,950
- Cash -€68,709
down €68,709 (-81.9%), from €83,845 to €15,136
mainly Receivables within one year (-€76,458) and Debts after one year (-€35,981)
- Tangible fixed assets -€30,606
down €30,606 (-16.1%), from €190,175 to €159,569
of which Leasing and similar rights: -€31,066
- Debts after one year -€35,981
down €35,981 (-20.3%), from €176,878 to €140,898
- Other debts +€18,635
up €18,635 (+228.7%), from €8,149 to €26,785
- Tax, wage and social debts +€9,979
up €9,979 (+45.2%), from €22,081 to €32,060
of which Taxes: +€14,374
- Profit (loss) carried forward -€6,450
new in 2025: -€6,450
- Current portion of long-term debt -€3,147
down €3,147 (-8.0%), from €39,127 to €35,981
- Gross operating margin -€25,723
down €25,723 (-34.2%), from €75,208 to €49,484
- Taxes +€11,567
up €11,567, from -€10,984 to €583
- Other operating charges -€2,567
down €2,567 (-72.6%), from €3,535 to €967
- Financial charges -€2,112
down €2,112 (-14.7%), from €14,338 to €12,227
- Staff costs +€2,054
up €2,054 (+95.3%), from €2,156 to €4,210
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 | €311,033 | €290,512 | -€20,521 | -6.6% |
| Fixed assets | 21/28 | €190,175 | €159,569 | -€30,606 | -16.1% |
| Tangible fixed assets | 22/27 | €190,175 | €159,569 | -€30,606 | -16.1% |
| Land and buildings | 22 | €4,824 | €3,825 | -€999 | -20.7% |
| Plant, machinery and equipment | 23 | €4,193 | €3,000 | -€1,192 | -28.4% |
| Furniture and vehicles | 24 | €9,546 | €12,197 | +€2,651 | +27.8% |
| Leasing and similar rights | 25 | €171,613 | €140,547 | -€31,066 | -18.1% |
| Current assets | 29/58 | €120,859 | €130,943 | +€10,085 | +8.3% |
| Amounts receivable within one year | 40/41 | €30,492 | €106,950 | +€76,458 | +250.7% |
| Trade receivables | 40 | €30,492 | €106,950 | +€76,458 | +250.7% |
| Cash at bank and in hand | 54/58 | €83,845 | €15,136 | -€68,709 | -81.9% |
| Deferred charges and accrued income | 490/1 | €6,522 | €8,857 | +€2,336 | +35.8% |
| Total equity and liabilities | 10/49 | €311,033 | €290,512 | -€20,521 | -6.6% |
| Equity | 10/15 | €47,351 | €40,901 | -€6,450 | -13.6% |
| Contributions | 10/11 | €13,039 | €13,039 | = | 0.0% |
| Outside capital | 11 | €13,039 | €13,039 | = | 0.0% |
| Other | 1109/19 | €13,039 | €13,039 | = | 0.0% |
| Reserves | 13 | €34,312 | €34,312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,091 | €29,091 | = | 0.0% |
| Reserves not available under the articles | 1311 | €29,091 | €29,091 | = | 0.0% |
| Distributable reserves | 133 | €5,221 | €5,221 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,450 | -€6,450 | |
| Amounts payable | 17/49 | €263,682 | €249,611 | -€14,072 | -5.3% |
| Amounts payable after more than one year | 17 | €176,878 | €140,898 | -€35,981 | -20.3% |
| Financial debts | 170/4 | €176,878 | €140,898 | -€35,981 | -20.3% |
| Amounts payable within one year | 42/48 | €86,315 | €108,713 | +€22,398 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €39,127 | €35,981 | -€3,147 | -8.0% |
| Trade debts | 44 | €16,913 | €13,888 | -€3,026 | -17.9% |
| Suppliers | 440/4 | €16,913 | €13,888 | -€3,026 | -17.9% |
| Advances received on contracts in progress | 46 | €44 | - | -€44 | |
| Taxes, remuneration and social security | 45 | €22,081 | €32,060 | +€9,979 | +45.2% |
| Taxes | 450/3 | €14,169 | €28,543 | +€14,374 | +101.4% |
| Remuneration and social security | 454/9 | €7,912 | €3,517 | -€4,395 | -55.5% |
| Other amounts payable | 47/48 | €8,149 | €26,785 | +€18,635 | +228.7% |
| Accrued charges and deferred income | 492/3 | €489 | - | -€489 | |
| Remuneration, social security and pensions | 62 | €2,156 | €4,210 | +€2,054 | +95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,154 | €37,947 | +€794 | +2.1% |
| Other operating charges | 640/8 | €3,535 | €967 | -€2,567 | -72.6% |
| Gross operating margin | 9900 | €75,208 | €49,484 | -€25,723 | -34.2% |
| Operating profit (loss) | 9901 | €32,364 | €6,360 | -€26,004 | -80.3% |
| Financial income | 75/76B | €122 | €0 | -€122 | -100.0% |
| Recurring financial income | 75 | €122 | €0 | -€122 | -100.0% |
| Financial charges | 65/66B | €14,338 | €12,227 | -€2,112 | -14.7% |
| Recurring financial charges | 65 | €14,338 | €12,227 | -€2,112 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €18,147 | -€5,867 | -€24,014 | |
| Income taxes | 67/77 | -€10,984 | €583 | +€11,567 | |
| Profit (loss) for the period | 9904 | €29,132 | -€6,450 | -€35,581 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,132 | -€6,450 | -€35,581 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.