GLAZNOST: 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.
GLAZNOST
Largest movements
- Receivables within one year -€42,315
down €42,315 (-25.2%), from €167,630 to €125,315
of which Trade receivables: -€40,414
- Cash +€34,678
up €34,678 (+25.6%), from €135,293 to €169,971
mainly Receivables within one year (+€42,315) and Net result for the year (+€37,482)
- Tangible fixed assets -€8,105
down €8,105 (-25.1%), from €32,275 to €24,171
- Trade debts -€57,555
down €57,555 (-78.8%), from €72,999 to €15,444
- Profit (loss) carried forward +€23,889
up €23,889, from -€23,889 to €0
- Reserves +€13,593
up €13,593 (+5.5%), from €249,378 to €262,971
- Tax, wage and social debts +€12,862
up €12,862 (+806%), from €1,596 to €14,457
- Other debts -€8,528
down €8,528 (-29.1%), from €29,300 to €20,773
- Gross operating margin +€75,093
up €75,093, from -€11,786 to €63,307
- Taxes +€12,901
up €12,901 (+2,643%), from €488 to €13,390
- Write-downs -€10,052
down €10,052, from €0 to -€10,052
- Other operating charges +€9,939
up €9,939 (+456%), from €2,178 to €12,117
- Staff costs +€930
new in 2025: €930
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 | €335,584 | €319,845 | -€15,739 | -4.7% |
| Fixed assets | 21/28 | €32,275 | €24,171 | -€8,105 | -25.1% |
| Tangible fixed assets | 22/27 | €32,275 | €24,171 | -€8,105 | -25.1% |
| Furniture and vehicles | 24 | €32,275 | €24,171 | -€8,105 | -25.1% |
| Current assets | 29/58 | €303,309 | €295,674 | -€7,634 | -2.5% |
| Amounts receivable within one year | 40/41 | €167,630 | €125,315 | -€42,315 | -25.2% |
| Trade receivables | 40 | €164,859 | €124,445 | -€40,414 | -24.5% |
| Other amounts receivable | 41 | €2,771 | €870 | -€1,901 | -68.6% |
| Cash at bank and in hand | 54/58 | €135,293 | €169,971 | +€34,678 | +25.6% |
| Deferred charges and accrued income | 490/1 | €386 | €389 | +€3 | +0.7% |
| Total equity and liabilities | 10/49 | €335,584 | €319,845 | -€15,739 | -4.7% |
| Equity | 10/15 | €231,689 | €269,171 | +€37,482 | +16.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €249,378 | €262,971 | +€13,593 | +5.5% |
| Distributable reserves | 133 | €249,378 | €262,971 | +€13,593 | +5.5% |
| Profit (loss) carried forward | 14 | -€23,889 | €0 | +€23,889 | |
| Amounts payable | 17/49 | €103,895 | €50,674 | -€53,221 | -51.2% |
| Amounts payable within one year | 42/48 | €103,895 | €50,674 | -€53,221 | -51.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €72,999 | €15,444 | -€57,555 | -78.8% |
| Suppliers | 440/4 | €72,999 | €15,444 | -€57,555 | -78.8% |
| Taxes, remuneration and social security | 45 | €1,596 | €14,457 | +€12,862 | +806% |
| Taxes | 450/3 | €1,596 | €14,457 | +€12,862 | +806% |
| Other amounts payable | 47/48 | €29,300 | €20,773 | -€8,528 | -29.1% |
| Remuneration, social security and pensions | 62 | - | €930 | +€930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,183 | €9,375 | +€192 | +2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€10,052 | -€10,052 | |
| Other operating charges | 640/8 | €2,178 | €12,117 | +€9,939 | +456% |
| Gross operating margin | 9900 | -€11,786 | €63,307 | +€75,093 | |
| Operating profit (loss) | 9901 | -€23,146 | €50,937 | +€74,083 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €255 | €66 | -€189 | -74.2% |
| Recurring financial charges | 65 | €255 | €66 | -€189 | -74.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,401 | €50,872 | +€74,272 | |
| Income taxes | 67/77 | €488 | €13,390 | +€12,901 | +2,643% |
| Profit (loss) for the period | 9904 | -€23,889 | €37,482 | +€61,371 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,889 | €37,482 | +€61,371 |
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 20 October 2026 via checked.be.