GLCA: 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.
GLCA
Largest movements
- Cash -€475,498
down €475,498 (-94.8%), from €501,626 to €26,128
mainly Contributions, distributions and other (-€609,282) and Tax, wage and social debts (-€14,079)
- Reserves -€468,894
down €468,894 (-63.6%), from €737,463 to €268,569
- Tax, wage and social debts -€14,079
down €14,079 (-38.0%), from €37,091 to €23,012
- Financial income +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Gross operating margin +€9,444
up €9,444 (+7.2%), from €131,955 to €141,399
- Taxes +€7,186
up €7,186 (+17.1%), from €41,913 to €49,099
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 | €777,042 | €293,640 | -€483,403 | -62.2% |
| Fixed assets | 21/28 | €250,000 | €250,300 | +€300 | +0.1% |
| Tangible fixed assets | 22/27 | €0 | €300 | +€300 | |
| Plant, machinery and equipment | 23 | - | €300 | +€300 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €527,042 | €43,339 | -€483,703 | -91.8% |
| Amounts receivable within one year | 40/41 | €24,089 | €16,692 | -€7,397 | -30.7% |
| Trade receivables | 40 | €12,000 | €12,000 | = | 0.0% |
| Other amounts receivable | 41 | €12,089 | €4,692 | -€7,397 | -61.2% |
| Cash at bank and in hand | 54/58 | €501,626 | €26,128 | -€475,498 | -94.8% |
| Deferred charges and accrued income | 490/1 | €1,327 | €519 | -€808 | -60.9% |
| Total equity and liabilities | 10/49 | €777,042 | €293,640 | -€483,403 | -62.2% |
| Equity | 10/15 | €738,463 | €269,569 | -€468,894 | -63.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €737,463 | €268,569 | -€468,894 | -63.6% |
| Distributable reserves | 133 | €737,463 | €268,569 | -€468,894 | -63.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €38,579 | €24,071 | -€14,509 | -37.6% |
| Amounts payable within one year | 42/48 | €38,579 | €24,071 | -€14,509 | -37.6% |
| Trade debts | 44 | €1,054 | €1,037 | -€16 | -1.5% |
| Suppliers | 440/4 | €1,054 | €1,037 | -€16 | -1.5% |
| Taxes, remuneration and social security | 45 | €37,091 | €23,012 | -€14,079 | -38.0% |
| Taxes | 450/3 | €37,091 | €23,012 | -€14,079 | -38.0% |
| Other amounts payable | 47/48 | €434 | €21 | -€413 | -95.1% |
| Non-recurring operating income | 76A | - | €11,950 | +€11,950 | |
| Remuneration, social security and pensions | 62 | €0 | €35 | +€35 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80 | €100 | +€20 | +24.7% |
| Other operating charges | 640/8 | €1,641 | €1,371 | -€270 | -16.4% |
| Gross operating margin | 9900 | €131,955 | €141,399 | +€9,444 | +7.2% |
| Operating profit (loss) | 9901 | €130,234 | €139,893 | +€9,660 | +7.4% |
| Financial income | 75/76B | €40,000 | €50,000 | +€10,000 | +25.0% |
| Recurring financial income | 75 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Financial charges | 65/66B | €139 | €406 | +€267 | +192.3% |
| Recurring financial charges | 65 | €139 | €406 | +€267 | +192.3% |
| Profit (loss) for the period before taxes | 9903 | €170,095 | €189,487 | +€19,392 | +11.4% |
| Income taxes | 67/77 | €41,913 | €49,099 | +€7,186 | +17.1% |
| Profit (loss) for the period | 9904 | €128,182 | €140,388 | +€12,206 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €128,182 | €140,388 | +€12,206 | +9.5% |
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 12 October 2026 via checked.be.