Glaroen: 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.
Glaroen
Largest movements
- Receivables within one year +€34,683
up €34,683 (+151%), from €23,000 to €57,683
of which Trade receivables: +€31,263
- Tangible fixed assets -€13,899
down €13,899 (-36.3%), from €38,339 to €24,441
of which Furniture and vehicles: -€13,229
- Cash +€12,077
up €12,077 (+139%), from €8,664 to €20,741
mainly Net result for the year (+€28,070) and Tax, wage and social debts (+€14,682)
- Deferred charges and accrued income +€2,208
up €2,208 (+73.1%), from €3,019 to €5,227
- Reserves +€28,070
up €28,070 (+68.9%), from €40,720 to €68,791
- Tax, wage and social debts +€14,682
up €14,682 (+1,345%), from €1,091 to €15,773
of which Taxes: +€13,182
- Debts after one year -€9,096
down €9,096 (-54.1%), from €16,810 to €7,714
- Gross operating margin -€17,469
down €17,469 (-24.5%), from €71,343 to €53,874
- Taxes -€4,545
down €4,545 (-29.8%), from €15,267 to €10,722
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 | €73,023 | €108,092 | +€35,069 | +48.0% |
| Fixed assets | 21/28 | €38,339 | €24,441 | -€13,899 | -36.3% |
| Tangible fixed assets | 22/27 | €38,339 | €24,441 | -€13,899 | -36.3% |
| Furniture and vehicles | 24 | €33,847 | €20,618 | -€13,229 | -39.1% |
| Other tangible fixed assets | 26 | €4,492 | €3,822 | -€670 | -14.9% |
| Current assets | 29/58 | €34,684 | €83,651 | +€48,968 | +141% |
| Amounts receivable within one year | 40/41 | €23,000 | €57,683 | +€34,683 | +151% |
| Trade receivables | 40 | €22,119 | €53,382 | +€31,263 | +141% |
| Other amounts receivable | 41 | €882 | €4,302 | +€3,420 | +388% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,664 | €20,741 | +€12,077 | +139% |
| Deferred charges and accrued income | 490/1 | €3,019 | €5,227 | +€2,208 | +73.1% |
| Total equity and liabilities | 10/49 | €73,023 | €108,092 | +€35,069 | +48.0% |
| Equity | 10/15 | €45,720 | €73,791 | +€28,070 | +61.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,720 | €68,791 | +€28,070 | +68.9% |
| Distributable reserves | 133 | €40,720 | €68,791 | +€28,070 | +68.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,303 | €34,301 | +€6,999 | +25.6% |
| Amounts payable after more than one year | 17 | €16,810 | €7,714 | -€9,096 | -54.1% |
| Financial debts | 170/4 | €16,810 | €7,714 | -€9,096 | -54.1% |
| Amounts payable within one year | 42/48 | €10,493 | €26,488 | +€15,995 | +152% |
| Current portion of amounts payable after more than one year | 42 | €8,925 | €9,096 | +€171 | +1.9% |
| Trade debts | 44 | €359 | €1,116 | +€758 | +211% |
| Suppliers | 440/4 | €359 | €1,116 | +€758 | +211% |
| Taxes, remuneration and social security | 45 | €1,091 | €15,773 | +€14,682 | +1,345% |
| Taxes | 450/3 | €1,091 | €14,273 | +€13,182 | +1,208% |
| Remuneration and social security | 454/9 | €0 | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €118 | €502 | +€385 | +327% |
| Accrued charges and deferred income | 492/3 | €0 | €99 | +€99 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,899 | €13,899 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,081 | €1,047 | -€35 | -3.2% |
| Gross operating margin | 9900 | €71,343 | €53,874 | -€17,469 | -24.5% |
| Operating profit (loss) | 9901 | €56,363 | €38,929 | -€17,434 | -30.9% |
| Financial income | 75/76B | €250 | €341 | +€91 | +36.6% |
| Recurring financial income | 75 | €250 | €341 | +€91 | +36.6% |
| Financial charges | 65/66B | €626 | €478 | -€148 | -23.6% |
| Recurring financial charges | 65 | €626 | €478 | -€148 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €55,987 | €38,792 | -€17,195 | -30.7% |
| Income taxes | 67/77 | €15,267 | €10,722 | -€4,545 | -29.8% |
| Profit (loss) for the period | 9904 | €40,720 | €28,070 | -€12,650 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,720 | €28,070 | -€12,650 | -31.1% |
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 28 October 2026 via checked.be.