GLASTEC: what changed
Two fiscal 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.
GLASTEC
Largest movements
- Cash +€138,745
up €138,745 (+117.1%), from €118,438 to €257,183
mainly Depreciation (+€92,910) and Net result for the year (+€78,653)
- Tangible fixed assets -€89,912
down €89,912 (-18.8%), from €477,188 to €387,276
of which Plant, machinery and equipment: -€52,127
- Current investments -€33,000
down €33,000 (-7.7%), from €426,665 to €393,665
- Reserves +€78,653
up €78,653 (+11.5%), from €684,045 to €762,699
- Debts after one year -€40,670
down €40,670 (-23.5%), from €173,266 to €132,596
- Current portion of long-term debt -€23,964
down €23,964 (-37.1%), from €64,634 to €40,670
- Tax, wage and social debts +€18,755
up €18,755 (+52.6%), from €35,643 to €54,398
of which Taxes: +€16,444
- Other debts -€12,235
down €12,235 (-22.8%), from €53,637 to €41,402
- Gross operating margin +€31,230
up €31,230 (+9.2%), from €340,098 to €371,328
- Depreciation -€10,357
down €10,357 (-10.0%), from €103,267 to €92,910
- Taxes +€9,742
up €9,742 (+44.7%), from €21,796 to €31,538
- Staff costs +€8,333
up €8,333 (+5.8%), from €143,729 to €152,061
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.
Cash bridge derived
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 | €1,138,216 | €1,160,930 | +€22,714 | +2.0% |
| Fixed assets | 21/28 | €477,188 | €387,276 | -€89,912 | -18.8% |
| Tangible fixed assets | 22/27 | €477,188 | €387,276 | -€89,912 | -18.8% |
| Land and buildings | 22 | €348,946 | €322,341 | -€26,605 | -7.6% |
| Plant, machinery and equipment | 23 | €93,720 | €41,593 | -€52,127 | -55.6% |
| Furniture and vehicles | 24 | €34,521 | €23,342 | -€11,179 | -32.4% |
| Current assets | 29/58 | €661,028 | €773,654 | +€112,626 | +17.0% |
| Stocks and contracts in progress | 3 | €31,843 | €30,525 | -€1,318 | -4.1% |
| Stocks | 30/36 | €31,843 | €30,525 | -€1,318 | -4.1% |
| Amounts receivable within one year | 40/41 | €79,718 | €87,997 | +€8,279 | +10.4% |
| Trade receivables | 40 | €79,718 | €87,997 | +€8,279 | +10.4% |
| Current investments | 50/53 | €426,665 | €393,665 | -€33,000 | -7.7% |
| Cash at bank and in hand | 54/58 | €118,438 | €257,183 | +€138,745 | +117.1% |
| Deferred charges and accrued income | 490/1 | €4,364 | €4,285 | -€79 | -1.8% |
| Total equity and liabilities | 10/49 | €1,138,216 | €1,160,930 | +€22,714 | +2.0% |
| Equity | 10/15 | €784,045 | €862,699 | +€78,653 | +10.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €684,045 | €762,699 | +€78,653 | +11.5% |
| Distributable reserves | 133 | €684,045 | €762,699 | +€78,653 | +11.5% |
| Amounts payable | 17/49 | €354,170 | €298,231 | -€55,939 | -15.8% |
| Amounts payable after more than one year | 17 | €173,266 | €132,596 | -€40,670 | -23.5% |
| Financial debts | 170/4 | €173,266 | €132,596 | -€40,670 | -23.5% |
| Amounts payable within one year | 42/48 | €180,844 | €165,635 | -€15,209 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €64,634 | €40,670 | -€23,964 | -37.1% |
| Trade debts | 44 | €26,931 | €29,165 | +€2,235 | +8.3% |
| Suppliers | 440/4 | €26,931 | €29,165 | +€2,235 | +8.3% |
| Taxes, remuneration and social security | 45 | €35,643 | €54,398 | +€18,755 | +52.6% |
| Taxes | 450/3 | €23,536 | €39,980 | +€16,444 | +69.9% |
| Remuneration and social security | 454/9 | €12,106 | €14,418 | +€2,312 | +19.1% |
| Other amounts payable | 47/48 | €53,637 | €41,402 | -€12,235 | -22.8% |
| Accrued charges and deferred income | 492/3 | €60 | - | -€60 | |
| Remuneration, social security and pensions | 62 | €143,729 | €152,061 | +€8,333 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,267 | €92,910 | -€10,357 | -10.0% |
| Other operating charges | 640/8 | €10,258 | €10,180 | -€77 | -0.8% |
| Gross operating margin | 9900 | €340,098 | €371,328 | +€31,230 | +9.2% |
| Operating profit (loss) | 9901 | €82,845 | €116,177 | +€33,332 | +40.2% |
| Financial income | 75/76B | €3,289 | €1,415 | -€1,874 | -57.0% |
| Recurring financial income | 75 | €3,289 | €1,415 | -€1,874 | -57.0% |
| Financial charges | 65/66B | €8,975 | €7,400 | -€1,575 | -17.5% |
| Recurring financial charges | 65 | €8,975 | €7,400 | -€1,575 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €77,160 | €110,192 | +€33,032 | +42.8% |
| Income taxes | 67/77 | €21,796 | €31,538 | +€9,742 | +44.7% |
| Profit (loss) for the period | 9904 | €55,364 | €78,653 | +€23,290 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,364 | €78,653 | +€23,290 | +42.1% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.