GLEMD: 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.
GLEMD
Largest movements
- Financial fixed assets -€60,000
down €60,000 (-100%), from €60,000 to €0
- Tangible fixed assets +€18,575
up €18,575 (+297%), from €6,257 to €24,832
of which Furniture and vehicles: +€17,561
- Cash -€6,667
down €6,667 (-8.1%), from €82,505 to €75,838
mainly Tax, wage and social debts (-€38,357) and Other debts (-€21,000)
- Receivables within one year -€5,116
down €5,116 (-31.1%), from €16,429 to €11,313
of which Trade receivables: -€13,620
- Tax, wage and social debts -€38,357
down €38,357 (-92.3%), from €41,553 to €3,195
- Other debts -€21,000
down €21,000 (-100%), from €21,000 to €0
- Reserves +€6,608
up €6,608 (+6.6%), from €100,240 to €106,848
- Gross operating margin -€136,212
down €136,212 (-83.9%), from €162,327 to €26,114
- Financial income +€60,343
up €60,343 (+6,034,348%), from €1 to €60,344
of which Non-recurring financial income: +€60,000
- Financial charges -€59,923
down €59,923 (-99.4%), from €60,262 to €340
of which Non-recurring financial charges: -€60,000
- Taxes -€37,030
down €37,030 (-92.1%), from €40,225 to €3,195
- Depreciation -€3,923
down €3,923 (-32.8%), from €11,950 to €8,027
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 | €165,981 | €113,268 | -€52,713 | -31.8% |
| Fixed assets | 21/28 | €66,257 | €24,832 | -€41,425 | -62.5% |
| Tangible fixed assets | 22/27 | €6,257 | €24,832 | +€18,575 | +297% |
| Plant, machinery and equipment | 23 | - | €1,014 | +€1,014 | |
| Furniture and vehicles | 24 | €6,257 | €23,818 | +€17,561 | +281% |
| Financial fixed assets | 28 | €60,000 | €0 | -€60,000 | -100% |
| Current assets | 29/58 | €99,725 | €88,436 | -€11,288 | -11.3% |
| Amounts receivable within one year | 40/41 | €16,429 | €11,313 | -€5,116 | -31.1% |
| Trade receivables | 40 | €13,620 | €0 | -€13,620 | -100% |
| Other amounts receivable | 41 | €2,809 | €11,313 | +€8,504 | +303% |
| Cash at bank and in hand | 54/58 | €82,505 | €75,838 | -€6,667 | -8.1% |
| Deferred charges and accrued income | 490/1 | €791 | €1,286 | +€495 | +62.6% |
| Total equity and liabilities | 10/49 | €165,981 | €113,268 | -€52,713 | -31.8% |
| Equity | 10/15 | €103,240 | €109,848 | +€6,608 | +6.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €100,240 | €106,848 | +€6,608 | +6.6% |
| Distributable reserves | 133 | €100,240 | €106,848 | +€6,608 | +6.6% |
| Amounts payable | 17/49 | €62,741 | €3,420 | -€59,321 | -94.5% |
| Amounts payable within one year | 42/48 | €62,741 | €3,420 | -€59,321 | -94.5% |
| Financial debts | 43 | €175 | €0 | -€175 | -100% |
| Credit institutions | 430/8 | €175 | €0 | -€175 | -100% |
| Trade debts | 44 | €14 | €225 | +€212 | +1,567% |
| Suppliers | 440/4 | €14 | €225 | +€212 | +1,567% |
| Taxes, remuneration and social security | 45 | €41,553 | €3,195 | -€38,357 | -92.3% |
| Taxes | 450/3 | €41,553 | €3,195 | -€38,357 | -92.3% |
| Other amounts payable | 47/48 | €21,000 | €0 | -€21,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,950 | €8,027 | -€3,923 | -32.8% |
| Other operating charges | 640/8 | €1,336 | €1,467 | +€131 | +9.8% |
| Non-recurring operating charges | 66A | €0 | €66,822 | +€66,822 | |
| Gross operating margin | 9900 | €162,327 | €26,114 | -€136,212 | -83.9% |
| Operating profit (loss) | 9901 | €149,040 | -€50,202 | -€199,242 | |
| Financial income | 75/76B | €1 | €60,344 | +€60,343 | +6,034,348% |
| Recurring financial income | 75 | €1 | €344 | +€343 | +34,348% |
| Non-recurring financial income | 76B | - | €60,000 | +€60,000 | |
| Financial charges | 65/66B | €60,262 | €340 | -€59,923 | -99.4% |
| Recurring financial charges | 65 | €262 | €340 | +€77 | +29.4% |
| Non-recurring financial charges | 66B | €60,000 | €0 | -€60,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | €88,779 | €9,803 | -€78,976 | -89.0% |
| Income taxes | 67/77 | €40,225 | €3,195 | -€37,030 | -92.1% |
| Profit (loss) for the period | 9904 | €48,554 | €6,608 | -€41,946 | -86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,554 | €6,608 | -€41,946 | -86.4% |
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 15 October 2026 via checked.be.