GLAZCAM: 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.
GLAZCAM
Largest movements
- Tangible fixed assets -€3,081
down €3,081 (-14.0%), from €22,044 to €18,964
of which Furniture and vehicles: -€2,641
- Cash -€1,146
down €1,146 (-94.8%), from €1,209 to €63
mainly Net result for the year (-€6,154) and Investment in fixed assets (net) (-€189)
- Financial fixed assets -€500
no longer reported in 2025 (was €500)
- Profit (loss) carried forward -€6,154
down €6,154 (-42.7%), from -€14,404 to -€20,558
- Trade debts +€1,212
up €1,212 (+208.3%), from €582 to €1,794
- Gross operating margin -€1,531
down €1,531 (-676.9%), from -€226 to -€1,757
- Depreciation -€1,018
down €1,018 (-21.3%), from €4,788 to €3,770
- Other operating charges -€331
down €331 (-45.3%), from €731 to €400
- Financial charges +€33
up €33 (+17.1%), from €195 to €228
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 | €24,122 | €19,320 | -€4,802 | -19.9% |
| Fixed assets | 21/28 | €22,544 | €18,964 | -€3,581 | -15.9% |
| Tangible fixed assets | 22/27 | €22,044 | €18,964 | -€3,081 | -14.0% |
| Plant, machinery and equipment | 23 | €1,251 | €811 | -€440 | -35.2% |
| Furniture and vehicles | 24 | €20,793 | €18,152 | -€2,641 | -12.7% |
| Financial fixed assets | 28 | €500 | - | -€500 | |
| Current assets | 29/58 | €1,578 | €356 | -€1,222 | -77.4% |
| Amounts receivable within one year | 40/41 | €127 | €2 | -€125 | -98.4% |
| Other amounts receivable | 41 | €127 | €2 | -€125 | -98.4% |
| Cash at bank and in hand | 54/58 | €1,209 | €63 | -€1,146 | -94.8% |
| Deferred charges and accrued income | 490/1 | €242 | €291 | +€49 | +20.5% |
| Total equity and liabilities | 10/49 | €24,122 | €19,320 | -€4,802 | -19.9% |
| Equity | 10/15 | €7,293 | €1,139 | -€6,154 | -84.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €15,496 | €15,496 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,636 | €13,636 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,404 | -€20,558 | -€6,154 | -42.7% |
| Amounts payable | 17/49 | €16,829 | €18,181 | +€1,352 | +8.0% |
| Amounts payable within one year | 42/48 | €16,829 | €18,181 | +€1,352 | +8.0% |
| Trade debts | 44 | €582 | €1,794 | +€1,212 | +208.3% |
| Suppliers | 440/4 | €582 | €1,794 | +€1,212 | +208.3% |
| Taxes, remuneration and social security | 45 | €39 | €79 | +€40 | +101.3% |
| Taxes | 450/3 | €39 | €79 | +€40 | +101.3% |
| Other amounts payable | 47/48 | €16,208 | €16,308 | +€100 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,788 | €3,770 | -€1,018 | -21.3% |
| Other operating charges | 640/8 | €731 | €400 | -€331 | -45.3% |
| Non-recurring operating charges | 66A | €1,362 | - | -€1,362 | |
| Gross operating margin | 9900 | -€226 | -€1,757 | -€1,531 | -676.9% |
| Operating profit (loss) | 9901 | -€7,107 | -€5,926 | +€1,181 | +16.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €195 | €228 | +€33 | +17.1% |
| Recurring financial charges | 65 | €195 | €228 | +€33 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,302 | -€6,154 | +€1,148 | +15.7% |
| Profit (loss) for the period | 9904 | -€7,302 | -€6,154 | +€1,148 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,302 | -€6,154 | +€1,148 | +15.7% |
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 8 October 2026 via checked.be.