GLDLV: 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.
GLDLV
Largest movements
- Receivables within one year -€97,125
down €97,125 (-49.8%), from €195,012 to €97,886
- Tangible fixed assets -€15,181
down €15,181 (-10.5%), from €145,169 to €129,988
of which Land and buildings: -€14,774
- Cash +€9,462
up €9,462 (+57.5%), from €16,465 to €25,927
mainly Receivables within one year (+€97,125) and Net result for the year (+€58,107)
- Reserves -€58,895
down €58,895 (-49.8%), from €118,255 to €59,361
- Debts after one year -€19,589
down €19,589 (-12.7%), from €154,151 to €134,562
- Current portion of long-term debt -€10,842
down €10,842 (-28.7%), from €37,784 to €26,942
- Other debts -€7,277
down €7,277 (-11.1%), from €65,384 to €58,107
- Gross operating margin -€5,132
down €5,132 (-5.0%), from €102,628 to €97,496
- Financial income -€4,141
down €4,141 (-35.7%), from €11,604 to €7,463
- Financial charges -€1,270
down €1,270 (-20.3%), from €6,240 to €4,971
of which Financial charges: -€1,136
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €388,818 | €286,818 | -€101,999 | -26.2% |
| Fixed assets | 21/28 | €145,169 | €129,988 | -€15,181 | -10.5% |
| Tangible fixed assets | 22/27 | €145,169 | €129,988 | -€15,181 | -10.5% |
| Land and buildings | 22 | €144,056 | €129,282 | -€14,774 | -10.3% |
| Furniture and vehicles | 24 | €1,113 | €706 | -€407 | -36.6% |
| Current assets | 29/58 | €243,648 | €156,830 | -€86,818 | -35.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €195,012 | €97,886 | -€97,125 | -49.8% |
| Other amounts receivable | 41 | €195,012 | €97,886 | -€97,125 | -49.8% |
| Cash at bank and in hand | 54/58 | €16,465 | €25,927 | +€9,462 | +57.5% |
| Deferred charges and accrued income | 490/1 | €2,172 | €3,017 | +€845 | +38.9% |
| Total equity and liabilities | 10/49 | €388,818 | €286,818 | -€101,999 | -26.2% |
| Equity | 10/15 | €118,805 | €59,911 | -€58,895 | -49.6% |
| Contributions | 10/11 | €550 | €550 | = | 0.0% |
| Reserves | 13 | €118,255 | €59,361 | -€58,895 | -49.8% |
| Distributable reserves | 133 | €118,255 | €59,361 | -€58,895 | -49.8% |
| Amounts payable | 17/49 | €270,012 | €226,907 | -€43,105 | -16.0% |
| Amounts payable after more than one year | 17 | €154,151 | €134,562 | -€19,589 | -12.7% |
| Financial debts | 170/4 | €154,151 | €134,562 | -€19,589 | -12.7% |
| Amounts payable within one year | 42/48 | €115,861 | €92,345 | -€23,516 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €37,784 | €26,942 | -€10,842 | -28.7% |
| Trade debts | 44 | €2,335 | €552 | -€1,783 | -76.4% |
| Suppliers | 440/4 | €2,335 | €552 | -€1,783 | -76.4% |
| Taxes, remuneration and social security | 45 | €10,359 | €6,744 | -€3,615 | -34.9% |
| Taxes | 450/3 | €10,359 | €6,744 | -€3,615 | -34.9% |
| Other amounts payable | 47/48 | €65,384 | €58,107 | -€7,277 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,994 | €15,181 | +€187 | +1.2% |
| Other operating charges | 640/8 | €406 | €419 | +€13 | +3.1% |
| Gross operating margin | 9900 | €102,628 | €97,496 | -€5,132 | -5.0% |
| Operating profit (loss) | 9901 | €87,227 | €81,896 | -€5,331 | -6.1% |
| Financial income | 75/76B | €11,604 | €7,463 | -€4,141 | -35.7% |
| Recurring financial income | 75 | €11,604 | €7,463 | -€4,141 | -35.7% |
| Financial charges | 65/66B | €6,240 | €4,971 | -€1,270 | -20.3% |
| Recurring financial charges | 65 | €6,107 | €4,971 | -€1,136 | -18.6% |
| Non-recurring financial charges | 66B | €134 | - | -€134 | |
| Profit (loss) for the period before taxes | 9903 | €92,591 | €84,389 | -€8,202 | -8.9% |
| Income taxes | 67/77 | €27,207 | €26,282 | -€925 | -3.4% |
| Profit (loss) for the period | 9904 | €65,384 | €58,107 | -€7,277 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,384 | €58,107 | -€7,277 | -11.1% |
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 16 October 2026 via checked.be.