GLASS DESIGN: 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.
What changed
GLASS DESIGN
NACE 43.410, Roofing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€42,140
2024 · -€25,972+€68,112
Equity
€1.9m
2024 · €1.8m+€59,274
Cash
€102,148
2024 · €120,620-€18,472
Balance sheet total
€3.3m
2024 · €3.0m+€348,407
Largest movements
Assets
- Receivables within one year +€209,403
up €209,403 (+30.4%), from €689,731 to €899,134
of which Trade receivables: +€163,163
- Tangible fixed assets +€118,242
up €118,242 (+5.5%), from €2.1m to €2.3m
of which Land and buildings: +€181,677
- Stocks and contracts +€50,025
new in 2025: €50,025
Equity and liabilities
- Debts after one year +€119,499
up €119,499 (+27.2%), from €439,985 to €559,484
- Trade debts +€89,994
up €89,994 (+45.1%), from €199,370 to €289,364
- Investment grants +€77,468
up €77,468 (+398%), from €19,458 to €96,926
- Reserves -€65,861
down €65,861 (-5.5%), from €1.2m to €1.1m
of which Tax-exempt reserves: -€65,861
- Tax, wage and social debts +€65,835
up €65,835 (+146%), from €44,970 to €110,805
of which Taxes: +€51,864
Income statement
- Financial income +€15,482
up €15,482 (+425%), from €3,643 to €19,125
- Staff costs -€8,267
down €8,267 (-3.7%), from €225,000 to €216,733
- Other operating charges +€5,684
up €5,684 (+17.4%), from €32,718 to €38,401
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.
Result 2024
-€25,972
Gross operating margin
-€57
Staff costs
+€8,267
Depreciation
+€3,454
Other operating charges
-€5,684
Other operating items
-€928
Financial income
+€15,482
Financial charges
-€986
Taxes
+€314
Deferred taxes and other
+€48,249
Result 2025
€42,140
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€123,040
Investment
-€274,634
Financing
+€133,122
Cash 2024
€120,620
From operations (derived)
+€123,040
Net result for the year
+€42,140
Depreciation
+€156,392
Stocks and contracts
-€50,025
Receivables within one year
-€209,403
Deferred charges and accrued income
+€10,791
Provisions
-€21,954
Trade debts
+€89,994
Tax, wage and social debts
+€65,835
Advances received
+€44,083
Accrued charges and deferred income
-€4,814
Investment (derived)
-€274,634
Investment in fixed assets (net)
-€274,634
Financing
+€133,122
Debts after one year
+€119,499
Current portion of long-term debt
-€3,511
Contributions, distributions and other
+€17,134
Cash 2025
€102,148
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,971,221 | €3,319,628 | +€348,407 | +11.7% |
| Fixed assets | 21/28 | €2,148,537 | €2,266,779 | +€118,242 | +5.5% |
| Tangible fixed assets | 22/27 | €2,148,127 | €2,266,369 | +€118,242 | +5.5% |
| Land and buildings | 22 | €1,939,937 | €2,121,614 | +€181,677 | +9.4% |
| Plant, machinery and equipment | 23 | €166,602 | €144,755 | -€21,846 | -13.1% |
| Furniture and vehicles | 24 | €41,589 | - | -€41,589 | |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €822,684 | €1,052,849 | +€230,165 | +28.0% |
| Stocks and contracts in progress | 3 | - | €50,025 | +€50,025 | |
| Stocks | 30/36 | - | €50,025 | +€50,025 | |
| Amounts receivable within one year | 40/41 | €689,731 | €899,134 | +€209,403 | +30.4% |
| Trade receivables | 40 | €574,875 | €738,038 | +€163,163 | +28.4% |
| Other amounts receivable | 41 | €114,856 | €161,096 | +€46,240 | +40.3% |
| Cash at bank and in hand | 54/58 | €120,620 | €102,148 | -€18,472 | -15.3% |
| Deferred charges and accrued income | 490/1 | €12,333 | €1,542 | -€10,791 | -87.5% |
| Total equity and liabilities | 10/49 | €2,971,221 | €3,319,628 | +€348,407 | +11.7% |
| Equity | 10/15 | €1,790,839 | €1,850,114 | +€59,274 | +3.3% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Reserves | 13 | €1,190,517 | €1,124,657 | -€65,861 | -5.5% |
| Tax-exempt reserves | 132 | €1,188,657 | €1,122,797 | -€65,861 | -5.5% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €564,664 | €612,331 | +€47,667 | +8.4% |
| Investment grants | 15 | €19,458 | €96,926 | +€77,468 | +398% |
| Provisions and deferred taxes | 16 | €393,254 | €371,300 | -€21,954 | -5.6% |
| Deferred taxes | 168 | €393,254 | €371,300 | -€21,954 | -5.6% |
| Amounts payable | 17/49 | €787,128 | €1,098,214 | +€311,086 | +39.5% |
| Amounts payable after more than one year | 17 | €439,985 | €559,484 | +€119,499 | +27.2% |
| Financial debts | 170/4 | €439,985 | €559,484 | +€119,499 | +27.2% |
| Amounts payable within one year | 42/48 | €336,341 | €532,742 | +€196,401 | +58.4% |
| Current portion of amounts payable after more than one year | 42 | €69,601 | €66,089 | -€3,511 | -5.0% |
| Trade debts | 44 | €199,370 | €289,364 | +€89,994 | +45.1% |
| Suppliers | 440/4 | €199,370 | €289,364 | +€89,994 | +45.1% |
| Advances received on contracts in progress | 46 | - | €44,083 | +€44,083 | |
| Taxes, remuneration and social security | 45 | €44,970 | €110,805 | +€65,835 | +146% |
| Taxes | 450/3 | €19,585 | €71,449 | +€51,864 | +265% |
| Remuneration and social security | 454/9 | €25,385 | €39,356 | +€13,971 | +55.0% |
| Other amounts payable | 47/48 | €22,400 | €22,400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,802 | €5,988 | -€4,814 | -44.6% |
| Non-recurring operating income | 76A | - | €427 | +€427 | |
| Remuneration, social security and pensions | 62 | €225,000 | €216,733 | -€8,267 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,846 | €156,392 | -€3,454 | -2.2% |
| Other operating charges | 640/8 | €32,718 | €38,401 | +€5,684 | +17.4% |
| Non-recurring operating charges | 66A | - | €928 | +€928 | |
| Gross operating margin | 9900 | €372,654 | €372,597 | -€57 | 0.0% |
| Operating profit (loss) | 9901 | -€44,909 | -€39,857 | +€5,052 | +11.2% |
| Financial income | 75/76B | €3,643 | €19,125 | +€15,482 | +425% |
| Recurring financial income | 75 | €3,643 | €19,125 | +€15,482 | +425% |
| Financial charges | 65/66B | €18,191 | €19,177 | +€986 | +5.4% |
| Recurring financial charges | 65 | €18,191 | €19,177 | +€986 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | -€59,458 | -€39,909 | +€19,548 | +32.9% |
| Transfer from deferred taxes | 780 | €34,039 | €82,288 | +€48,249 | +142% |
| Income taxes | 67/77 | €553 | €238 | -€314 | -56.9% |
| Profit (loss) for the period | 9904 | -€25,972 | €42,140 | +€68,112 | |
| Transfer from tax-exempt reserves | 789 | €102,116 | €5,527 | -€96,589 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,144 | €47,667 | -€28,477 | -37.4% |
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.