Glasfaser Ostbelgien: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Glasfaser Ostbelgien
Largest movements
- Current investments -€34.5m
down €34.5m (-100%), from €34.5m to €0
- Tangible fixed assets +€21.1m
up €21.1m (+185%), from €11.4m to €32.5m
of which Land and buildings: +€14.7m
- Cash +€15.4m
up €15.4m (+537%), from €2.9m to €18.3m
mainly Current investments (+€34.5m) and Trade debts (+€2.8m)
- Trade debts +€2.8m
up €2.8m (+122%), from €2.3m to €5.1m
- Profit (loss) carried forward -€1.4m
down €1.4m (-88.7%), from -€1.5m to -€2.9m
- Financial income -€364,053
down €364,053 (-40.8%), from €891,690 to €527,637
- Depreciation +€284,984
up €284,984 (+14,278%), from €1,996 to €286,980
- Gross operating margin -€266,774
down €266,774 (-88.5%), from -€301,334 to -€568,108
- Financial charges +€193,853
up €193,853 (+32.3%), from €599,666 to €793,519
- Staff costs +€33,154
up €33,154 (+14.9%), from €223,157 to €256,311
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,344,480 | €52,617,818 | +€1.3m | +2.5% |
| Formation expenses | 20 | €1,402 | €961 | -€441 | -31.5% |
| Fixed assets | 21/28 | €12,422,690 | €33,387,018 | +€21.0m | +169% |
| Intangible fixed assets | 21 | €1,003,487 | €885,821 | -€117,666 | -11.7% |
| Tangible fixed assets | 22/27 | €11,414,687 | €32,496,680 | +€21.1m | +185% |
| Land and buildings | 22 | €46,379 | €14,768,165 | +€14.7m | +31,742% |
| Assets under construction and advance payments | 27 | €11,368,307 | €17,728,515 | +€6.4m | +55.9% |
| Financial fixed assets | 28 | €4,516 | €4,516 | = | 0.0% |
| Current assets | 29/58 | €38,920,388 | €19,229,839 | -€19.7m | -50.6% |
| Amounts receivable within one year | 40/41 | €1,293,905 | €885,748 | -€408,157 | -31.5% |
| Trade receivables | 40 | €604,337 | €284,708 | -€319,629 | -52.9% |
| Other amounts receivable | 41 | €689,568 | €601,041 | -€88,528 | -12.8% |
| Current investments | 50/53 | €34,500,000 | €0 | -€34.5m | -100% |
| Cash at bank and in hand | 54/58 | €2,873,180 | €18,303,874 | +€15.4m | +537% |
| Deferred charges and accrued income | 490/1 | €253,303 | €40,217 | -€213,086 | -84.1% |
| Total equity and liabilities | 10/49 | €51,344,480 | €52,617,818 | +€1.3m | +2.5% |
| Equity | 10/15 | €31,622,388 | €30,203,433 | -€1.4m | -4.5% |
| Contributions | 10/11 | €3,155,000 | €3,155,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,532,612 | -€2,891,799 | -€1.4m | -88.7% |
| Investment grants | 15 | €30,000,000 | €29,940,233 | -€59,767 | -0.2% |
| Provisions and deferred taxes | 16 | €10,000,000 | €9,980,078 | -€19,922 | -0.2% |
| Deferred taxes | 168 | €10,000,000 | €9,980,078 | -€19,922 | -0.2% |
| Amounts payable | 17/49 | €9,722,092 | €12,434,307 | +€2.7m | +27.9% |
| Amounts payable after more than one year | 17 | €7,250,000 | €7,250,000 | = | 0.0% |
| Financial debts | 170/4 | €7,250,000 | €7,250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,330,933 | €5,142,257 | +€2.8m | +121% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €2,303,255 | €5,111,071 | +€2.8m | +122% |
| Suppliers | 440/4 | €2,303,255 | €5,111,071 | +€2.8m | +122% |
| Taxes, remuneration and social security | 45 | €27,678 | €31,186 | +€3,508 | +12.7% |
| Remuneration and social security | 454/9 | €27,678 | €31,186 | +€3,508 | +12.7% |
| Accrued charges and deferred income | 492/3 | €141,159 | €42,051 | -€99,109 | -70.2% |
| Remuneration, social security and pensions | 62 | €223,157 | €256,311 | +€33,154 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,996 | €286,980 | +€284,984 | +14,278% |
| Other operating charges | 640/8 | €2,376 | €1,211 | -€1,166 | -49.0% |
| Gross operating margin | 9900 | -€301,334 | -€568,108 | -€266,774 | -88.5% |
| Operating profit (loss) | 9901 | -€528,863 | -€1,112,610 | -€583,747 | -110% |
| Financial income | 75/76B | €891,690 | €527,637 | -€364,053 | -40.8% |
| Recurring financial income | 75 | €891,690 | €527,637 | -€364,053 | -40.8% |
| Financial charges | 65/66B | €599,666 | €793,519 | +€193,853 | +32.3% |
| Recurring financial charges | 65 | €599,666 | €793,519 | +€193,853 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | -€236,838 | -€1,378,492 | -€1.1m | -482% |
| Transfer from deferred taxes | 780 | - | €19,922 | +€19,922 | |
| Income taxes | 67/77 | €185 | €618 | +€433 | +235% |
| Profit (loss) for the period | 9904 | -€237,023 | -€1,359,187 | -€1.1m | -473% |
| Profit (loss) for the period to be appropriated | 9905 | -€237,023 | -€1,359,187 | -€1.1m | -473% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.