GLAUDIS PROJECTS: 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.
GLAUDIS PROJECTS
Largest movements
- Current investments -€900,000
down €900,000 (-100%), from €900,000 to €0
- Cash +€211,977
up €211,977 (+29.2%), from €727,000 to €938,977
mainly Current investments (+€900,000) and Net result for the year (+€215,118)
- Receivables within one year -€62,173
down €62,173 (-30.6%), from €202,869 to €140,695
of which Trade receivables: -€80,282
- Accrued charges and deferred income -€428,330
down €428,330 (-76.0%), from €563,422 to €135,092
- Trade debts -€236,132
down €236,132 (-42.8%), from €551,888 to €315,756
- Other debts -€49,347
down €49,347 (-15.9%), from €309,887 to €260,540
- Reserves -€34,882
down €34,882 (-21.5%), from €162,378 to €127,495
- Gross operating margin -€207,014
down €207,014 (-39.2%), from €528,415 to €321,401
- Financial charges -€49,606
down €49,606 (-53.7%), from €92,444 to €42,838
- Taxes -€34,112
down €34,112 (-30.4%), from €112,312 to €78,200
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 | €1,864,453 | €1,125,669 | -€738,784 | -39.6% |
| Fixed assets | 21/28 | €3,324 | €2,939 | -€385 | -11.6% |
| Tangible fixed assets | 22/27 | €3,174 | €2,789 | -€385 | -12.1% |
| Plant, machinery and equipment | 23 | €3,174 | €2,789 | -€385 | -12.1% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €1,861,129 | €1,122,731 | -€738,398 | -39.7% |
| Amounts receivable within one year | 40/41 | €202,869 | €140,695 | -€62,173 | -30.6% |
| Trade receivables | 40 | €146,277 | €65,995 | -€80,282 | -54.9% |
| Other amounts receivable | 41 | €56,592 | €74,700 | +€18,108 | +32.0% |
| Current investments | 50/53 | €900,000 | €0 | -€900,000 | -100% |
| Cash at bank and in hand | 54/58 | €727,000 | €938,977 | +€211,977 | +29.2% |
| Deferred charges and accrued income | 490/1 | €31,260 | €43,058 | +€11,798 | +37.7% |
| Total equity and liabilities | 10/49 | €1,864,453 | €1,125,669 | -€738,784 | -39.6% |
| Equity | 10/15 | €262,378 | €227,495 | -€34,882 | -13.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €162,378 | €127,495 | -€34,882 | -21.5% |
| Distributable reserves | 133 | €162,378 | €127,495 | -€34,882 | -21.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,602,075 | €898,174 | -€703,901 | -43.9% |
| Amounts payable within one year | 42/48 | €1,038,653 | €763,082 | -€275,571 | -26.5% |
| Trade debts | 44 | €551,888 | €315,756 | -€236,132 | -42.8% |
| Suppliers | 440/4 | €551,888 | €315,756 | -€236,132 | -42.8% |
| Taxes, remuneration and social security | 45 | €176,878 | €186,786 | +€9,908 | +5.6% |
| Taxes | 450/3 | €176,878 | €186,786 | +€9,908 | +5.6% |
| Other amounts payable | 47/48 | €309,887 | €260,540 | -€49,347 | -15.9% |
| Accrued charges and deferred income | 492/3 | €563,422 | €135,092 | -€428,330 | -76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €385 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €1,060 | +€673 | +174% |
| Gross operating margin | 9900 | €528,415 | €321,401 | -€207,014 | -39.2% |
| Operating profit (loss) | 9901 | €527,642 | €319,955 | -€207,687 | -39.4% |
| Financial income | 75/76B | €15,086 | €16,200 | +€1,114 | +7.4% |
| Recurring financial income | 75 | €15,086 | €16,200 | +€1,114 | +7.4% |
| Financial charges | 65/66B | €92,444 | €42,838 | -€49,606 | -53.7% |
| Recurring financial charges | 65 | €92,444 | €42,838 | -€49,606 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €450,284 | €293,317 | -€156,967 | -34.9% |
| Income taxes | 67/77 | €112,312 | €78,200 | -€34,112 | -30.4% |
| Profit (loss) for the period | 9904 | €337,972 | €215,118 | -€122,854 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €337,972 | €215,118 | -€122,854 | -36.4% |
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 14 October 2026 via checked.be.