Glass4Wheels: what changed
Glass4Wheels
Largest movements
- Stocks and contracts +€121,764
up €121,764 (+53.7%), from €226,549 to €348,313
- Cash -€94,035
down €94,035 (-60.8%), from €154,753 to €60,718
mainly Stocks and contracts (-€121,764) and Investment in fixed assets (net) (-€118,638)
- Tangible fixed assets +€83,985
up €83,985 (+181%), from €46,310 to €130,295
of which Furniture and vehicles: +€54,462
- Receivables within one year +€51,665
up €51,665 (+12.9%), from €399,812 to €451,477
of which Trade receivables: +€54,171
- Deferred charges and accrued income -€10,819
down €10,819 (-54.4%), from €19,871 to €9,052
- Profit (loss) carried forward +€139,853
up €139,853 (+45.2%), from €309,551 to €449,405
- Short-term financial debts -€50,000
down €50,000 (-40.0%), from €125,000 to €75,000
- Trade debts +€33,360
up €33,360 (+26.3%), from €127,061 to €160,421
- Tax, wage and social debts +€10,153
up €10,153 (+5.8%), from €176,103 to €186,256
of which Remuneration and social security: +€13,456
- Gross operating margin +€148,212
up €148,212 (+15.5%), from €955,577 to €1.1m
- Staff costs +€129,412
up €129,412 (+18.2%), from €711,268 to €840,680
- Depreciation +€31,341
up €31,341 (+388%), from €8,073 to €39,415
- Other operating charges +€12,236
up €12,236 (+116%), from €10,531 to €22,767
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 | €854,263 | €1,002,062 | +€147,799 | +17.3% |
| Fixed assets | 21/28 | €53,278 | €132,501 | +€79,223 | +149% |
| Intangible fixed assets | 21 | €5,064 | €1,801 | -€3,262 | -64.4% |
| Tangible fixed assets | 22/27 | €46,310 | €130,295 | +€83,985 | +181% |
| Plant, machinery and equipment | 23 | €1,241 | €4,792 | +€3,551 | +286% |
| Furniture and vehicles | 24 | €4,234 | €58,695 | +€54,462 | +1,286% |
| Leasing and similar rights | 25 | €40,835 | €66,808 | +€25,972 | +63.6% |
| Financial fixed assets | 28 | €1,905 | €405 | -€1,500 | -78.7% |
| Current assets | 29/58 | €800,985 | €869,560 | +€68,576 | +8.6% |
| Stocks and contracts in progress | 3 | €226,549 | €348,313 | +€121,764 | +53.7% |
| Stocks | 30/36 | €226,549 | €348,313 | +€121,764 | +53.7% |
| Amounts receivable within one year | 40/41 | €399,812 | €451,477 | +€51,665 | +12.9% |
| Trade receivables | 40 | €396,362 | €450,534 | +€54,171 | +13.7% |
| Other amounts receivable | 41 | €3,450 | €943 | -€2,506 | -72.7% |
| Cash at bank and in hand | 54/58 | €154,753 | €60,718 | -€94,035 | -60.8% |
| Deferred charges and accrued income | 490/1 | €19,871 | €9,052 | -€10,819 | -54.4% |
| Total equity and liabilities | 10/49 | €854,263 | €1,002,062 | +€147,799 | +17.3% |
| Equity | 10/15 | €319,551 | €459,405 | +€139,853 | +43.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €309,551 | €449,405 | +€139,853 | +45.2% |
| Amounts payable | 17/49 | €534,712 | €542,657 | +€7,945 | +1.5% |
| Amounts payable after more than one year | 17 | €70,274 | €76,752 | +€6,478 | +9.2% |
| Financial debts | 170/4 | €70,274 | €76,752 | +€6,478 | +9.2% |
| Amounts payable within one year | 42/48 | €447,320 | €453,254 | +€5,934 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €18,136 | €26,646 | +€8,510 | +46.9% |
| Financial debts | 43 | €125,000 | €75,000 | -€50,000 | -40.0% |
| Credit institutions | 430/8 | €125,000 | €75,000 | -€50,000 | -40.0% |
| Trade debts | 44 | €127,061 | €160,421 | +€33,360 | +26.3% |
| Suppliers | 440/4 | €127,061 | €160,421 | +€33,360 | +26.3% |
| Taxes, remuneration and social security | 45 | €176,103 | €186,256 | +€10,153 | +5.8% |
| Taxes | 450/3 | €90,855 | €87,551 | -€3,304 | -3.6% |
| Remuneration and social security | 454/9 | €85,248 | €98,705 | +€13,456 | +15.8% |
| Other amounts payable | 47/48 | €1,020 | €4,931 | +€3,911 | +383% |
| Accrued charges and deferred income | 492/3 | €17,118 | €12,651 | -€4,466 | -26.1% |
| Remuneration, social security and pensions | 62 | €711,268 | €840,680 | +€129,412 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,073 | €39,415 | +€31,341 | +388% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,662 | -€1,004 | -€3,665 | |
| Other operating charges | 640/8 | €10,531 | €22,767 | +€12,236 | +116% |
| Gross operating margin | 9900 | €955,577 | €1,103,789 | +€148,212 | +15.5% |
| Operating profit (loss) | 9901 | €223,044 | €201,931 | -€21,113 | -9.5% |
| Financial income | 75/76B | €3,307 | €4,447 | +€1,140 | +34.5% |
| Recurring financial income | 75 | €3,307 | €4,447 | +€1,140 | +34.5% |
| Financial charges | 65/66B | €14,035 | €14,299 | +€264 | +1.9% |
| Recurring financial charges | 65 | €14,035 | €14,299 | +€264 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €212,316 | €192,079 | -€20,237 | -9.5% |
| Income taxes | 67/77 | €59,861 | €52,226 | -€7,635 | -12.8% |
| Profit (loss) for the period | 9904 | €152,455 | €139,853 | -€12,602 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €152,455 | €139,853 | -€12,602 | -8.3% |
Next steps
Calculation and sources
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 3 November 2026 via checked.be.