Glansdorff & Associés: 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.
Glansdorff & Associés
Largest movements
- Cash +€83,203
up €83,203 (+17.0%), from €488,015 to €571,218
mainly Net result for the year (+€83,670) and Other debts (+€65,600)
- Receivables after one year -€47,500
down €47,500 (-29.4%), from €161,500 to €114,000
- Tangible fixed assets -€9,751
down €9,751 (-35.2%), from €27,695 to €17,944
of which Furniture and vehicles: -€7,702
- Other debts +€65,600
up €65,600 (+136%), from €48,340 to €113,940
- Reserves -€38,000
down €38,000 (-6.3%), from €606,860 to €568,860
- Gross operating margin -€7,172
down €7,172 (-5.7%), from €125,650 to €118,478
- Financial income +€3,795
up €3,795 (+59.4%), from €6,390 to €10,184
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 | €697,607 | €725,333 | +€27,726 | +4.0% |
| Fixed assets | 21/28 | €27,695 | €17,944 | -€9,751 | -35.2% |
| Tangible fixed assets | 22/27 | €27,695 | €17,944 | -€9,751 | -35.2% |
| Furniture and vehicles | 24 | €21,845 | €14,144 | -€7,702 | -35.3% |
| Other tangible fixed assets | 26 | €5,849 | €3,800 | -€2,049 | -35.0% |
| Current assets | 29/58 | €669,912 | €707,389 | +€37,477 | +5.6% |
| Amounts receivable after more than one year | 29 | €161,500 | €114,000 | -€47,500 | -29.4% |
| Trade receivables | 290 | €161,500 | €114,000 | -€47,500 | -29.4% |
| Amounts receivable within one year | 40/41 | €15,658 | €17,102 | +€1,444 | +9.2% |
| Trade receivables | 40 | €15,658 | €16,485 | +€827 | +5.3% |
| Other amounts receivable | 41 | - | €618 | +€618 | |
| Cash at bank and in hand | 54/58 | €488,015 | €571,218 | +€83,203 | +17.0% |
| Deferred charges and accrued income | 490/1 | €4,739 | €5,069 | +€329 | +6.9% |
| Total equity and liabilities | 10/49 | €697,607 | €725,333 | +€27,726 | +4.0% |
| Equity | 10/15 | €630,546 | €593,016 | -€37,530 | -6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €606,860 | €568,860 | -€38,000 | -6.3% |
| Distributable reserves | 133 | €606,860 | €568,860 | -€38,000 | -6.3% |
| Profit (loss) carried forward | 14 | €5,086 | €5,556 | +€470 | +9.2% |
| Amounts payable | 17/49 | €67,061 | €132,317 | +€65,256 | +97.3% |
| Amounts payable within one year | 42/48 | €67,061 | €132,317 | +€65,256 | +97.3% |
| Trade debts | 44 | €2,595 | €1,968 | -€628 | -24.2% |
| Suppliers | 440/4 | €2,595 | €1,968 | -€628 | -24.2% |
| Taxes, remuneration and social security | 45 | €16,125 | €16,409 | +€284 | +1.8% |
| Taxes | 450/3 | €16,125 | €16,409 | +€284 | +1.8% |
| Other amounts payable | 47/48 | €48,340 | €113,940 | +€65,600 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,569 | €9,751 | +€182 | +1.9% |
| Other operating charges | 640/8 | €823 | €929 | +€106 | +12.9% |
| Gross operating margin | 9900 | €125,650 | €118,478 | -€7,172 | -5.7% |
| Operating profit (loss) | 9901 | €115,259 | €107,798 | -€7,460 | -6.5% |
| Financial income | 75/76B | €6,390 | €10,184 | +€3,795 | +59.4% |
| Recurring financial income | 75 | €6,390 | €10,184 | +€3,795 | +59.4% |
| Financial charges | 65/66B | €15 | €129 | +€114 | +750% |
| Recurring financial charges | 65 | €15 | €129 | +€114 | +750% |
| Profit (loss) for the period before taxes | 9903 | €121,633 | €117,854 | -€3,780 | -3.1% |
| Income taxes | 67/77 | €35,144 | €34,184 | -€961 | -2.7% |
| Profit (loss) for the period | 9904 | €86,489 | €83,670 | -€2,819 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €86,489 | €83,670 | -€2,819 | -3.3% |
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 1 November 2026 via checked.be.