GLEJOR: 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.
GLEJOR
Largest movements
- Receivables within one year +€20,503
up €20,503 (+26.5%), from €77,263 to €97,766
of which Other amounts receivable: +€20,881
- Cash -€14,184
down €14,184 (-90.1%), from €15,745 to €1,561
mainly Receivables within one year (-€20,503) and Investment in fixed assets (net) (-€10,549)
- Tangible fixed assets +€7,395
up €7,395 (+187%), from €3,958 to €11,353
of which Furniture and vehicles: +€7,770
- Reserves +€29,042
up €29,042 (+69.6%), from €41,723 to €70,765
- Trade debts -€9,919
down €9,919 (-51.5%), from €19,247 to €9,328
- Current portion of long-term debt -€9,545
no longer reported in 2025 (was €9,545)
- Tax, wage and social debts +€5,015
up €5,015 (+24.1%), from €20,845 to €25,860
of which Taxes: +€6,065
- Gross operating margin +€41,337
up €41,337 (+150%), from €27,555 to €68,892
- Taxes +€13,574
up €13,574 (+306%), from €4,442 to €18,016
- Staff costs -€1,910
down €1,910 (-10.2%), from €18,763 to €16,854
- Financial charges +€1,872
up €1,872 (+166%), from €1,126 to €2,998
- Depreciation +€1,416
up €1,416 (+81.5%), from €1,737 to €3,153
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 | €97,560 | €112,153 | +€14,593 | +15.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,958 | €11,353 | +€7,395 | +187% |
| Tangible fixed assets | 22/27 | €3,958 | €11,353 | +€7,395 | +187% |
| Land and buildings | 22 | €2,525 | €2,150 | -€374 | -14.8% |
| Furniture and vehicles | 24 | €1,433 | €9,203 | +€7,770 | +542% |
| Current assets | 29/58 | €93,602 | €100,800 | +€7,198 | +7.7% |
| Amounts receivable within one year | 40/41 | €77,263 | €97,766 | +€20,503 | +26.5% |
| Trade receivables | 40 | €17,409 | €17,031 | -€378 | -2.2% |
| Other amounts receivable | 41 | €59,854 | €80,735 | +€20,881 | +34.9% |
| Cash at bank and in hand | 54/58 | €15,745 | €1,561 | -€14,184 | -90.1% |
| Deferred charges and accrued income | 490/1 | €594 | €1,473 | +€878 | +148% |
| Total equity and liabilities | 10/49 | €97,560 | €112,153 | +€14,593 | +15.0% |
| Equity | 10/15 | €47,923 | €76,965 | +€29,042 | +60.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €41,723 | €70,765 | +€29,042 | +69.6% |
| Distributable reserves | 133 | €41,723 | €70,765 | +€29,042 | +69.6% |
| Amounts payable | 17/49 | €49,637 | €35,188 | -€14,450 | -29.1% |
| Amounts payable within one year | 42/48 | €49,637 | €35,188 | -€14,450 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €9,545 | - | -€9,545 | |
| Trade debts | 44 | €19,247 | €9,328 | -€9,919 | -51.5% |
| Suppliers | 440/4 | €19,247 | €9,328 | -€9,919 | -51.5% |
| Taxes, remuneration and social security | 45 | €20,845 | €25,860 | +€5,015 | +24.1% |
| Taxes | 450/3 | €18,517 | €24,582 | +€6,065 | +32.8% |
| Remuneration and social security | 454/9 | €2,328 | €1,278 | -€1,050 | -45.1% |
| Non-recurring operating income | 76A | - | €826 | +€826 | |
| Remuneration, social security and pensions | 62 | €18,763 | €16,854 | -€1,910 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,737 | €3,153 | +€1,416 | +81.5% |
| Other operating charges | 640/8 | €2,389 | €2,572 | +€184 | +7.7% |
| Gross operating margin | 9900 | €27,555 | €68,892 | +€41,337 | +150% |
| Operating profit (loss) | 9901 | €4,666 | €46,313 | +€41,647 | +893% |
| Financial income | 75/76B | €3,674 | €3,744 | +€70 | +1.9% |
| Recurring financial income | 75 | €3,674 | €3,744 | +€70 | +1.9% |
| Financial charges | 65/66B | €1,126 | €2,998 | +€1,872 | +166% |
| Recurring financial charges | 65 | €1,126 | €2,998 | +€1,872 | +166% |
| Profit (loss) for the period before taxes | 9903 | €7,214 | €47,059 | +€39,845 | +552% |
| Income taxes | 67/77 | €4,442 | €18,016 | +€13,574 | +306% |
| Profit (loss) for the period | 9904 | €2,771 | €29,042 | +€26,271 | +948% |
| Profit (loss) for the period to be appropriated | 9905 | €2,771 | €29,042 | +€26,271 | +948% |
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 22 October 2026 via checked.be.