Glenn Van Hal: 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.
Glenn Van Hal
Largest movements
- Cash -€25,323
down €25,323 (-100.0%), from €25,323 to €0
mainly Net result for the year (-€32,287) and Trade debts (-€10,237)
- Receivables within one year -€9,674
down €9,674 (-19.8%), from €48,897 to €39,223
of which Trade receivables: -€10,234
- Deferred charges and accrued income -€2,906
down €2,906 (-85.2%), from €3,411 to €505
- Stocks and contracts -€1,132
down €1,132 (-68.4%), from €1,655 to €522
- Profit (loss) carried forward -€32,287
down €32,287, from €4,901 to -€27,386
- Trade debts -€10,237
down €10,237 (-52.3%), from €19,587 to €9,350
- Short-term financial debts +€5,001
new in 2025: €5,001
- Other debts +€3,525
up €3,525 (+125%), from €2,829 to €6,354
- Tax, wage and social debts -€2,907
down €2,907 (-42.3%), from €6,874 to €3,967
of which Taxes: -€3,558
- Gross operating margin -€58,655
down €58,655, from €30,675 to -€27,980
- Taxes -€2,884
no longer reported in 2025 (was €2,884)
- Financial charges +€1,363
up €1,363 (+75.0%), from €1,816 to €3,179
- Other operating charges -€430
down €430 (-30.2%), from €1,424 to €994
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 | €79,286 | €40,783 | -€38,503 | -48.6% |
| Fixed assets | 21/28 | €0 | €533 | +€533 | |
| Tangible fixed assets | 22/27 | €0 | €533 | +€533 | |
| Plant, machinery and equipment | 23 | €0 | €533 | +€533 | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €79,286 | €40,250 | -€39,036 | -49.2% |
| Stocks and contracts in progress | 3 | €1,655 | €522 | -€1,132 | -68.4% |
| Stocks | 30/36 | €1,655 | €522 | -€1,132 | -68.4% |
| Amounts receivable within one year | 40/41 | €48,897 | €39,223 | -€9,674 | -19.8% |
| Trade receivables | 40 | €48,897 | €38,663 | -€10,234 | -20.9% |
| Other amounts receivable | 41 | - | €560 | +€560 | |
| Cash at bank and in hand | 54/58 | €25,323 | €0 | -€25,323 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,411 | €505 | -€2,906 | -85.2% |
| Total equity and liabilities | 10/49 | €79,286 | €40,783 | -€38,503 | -48.6% |
| Equity | 10/15 | €48,398 | €16,111 | -€32,287 | -66.7% |
| Contributions | 10/11 | €7,065 | €7,065 | = | 0.0% |
| Reserves | 13 | €36,432 | €36,432 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €34,432 | €34,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,901 | -€27,386 | -€32,287 | |
| Amounts payable | 17/49 | €30,888 | €24,672 | -€6,216 | -20.1% |
| Amounts payable within one year | 42/48 | €29,290 | €24,672 | -€4,618 | -15.8% |
| Financial debts | 43 | - | €5,001 | +€5,001 | |
| Credit institutions | 430/8 | - | €5,001 | +€5,001 | |
| Trade debts | 44 | €19,587 | €9,350 | -€10,237 | -52.3% |
| Suppliers | 440/4 | €19,587 | €9,350 | -€10,237 | -52.3% |
| Taxes, remuneration and social security | 45 | €6,874 | €3,967 | -€2,907 | -42.3% |
| Taxes | 450/3 | €6,367 | €2,809 | -€3,558 | -55.9% |
| Remuneration and social security | 454/9 | €507 | €1,158 | +€651 | +128% |
| Other amounts payable | 47/48 | €2,829 | €6,354 | +€3,525 | +125% |
| Accrued charges and deferred income | 492/3 | €1,598 | - | -€1,598 | |
| Non-recurring operating income | 76A | €2,500 | - | -€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €179 | +€179 | |
| Other operating charges | 640/8 | €1,424 | €994 | -€430 | -30.2% |
| Gross operating margin | 9900 | €30,675 | -€27,980 | -€58,655 | |
| Operating profit (loss) | 9901 | €29,251 | -€29,152 | -€58,404 | |
| Financial income | 75/76B | €267 | €45 | -€222 | -83.1% |
| Recurring financial income | 75 | €267 | €45 | -€222 | -83.1% |
| Financial charges | 65/66B | €1,816 | €3,179 | +€1,363 | +75.0% |
| Recurring financial charges | 65 | €1,816 | €3,179 | +€1,363 | +75.0% |
| Profit (loss) for the period before taxes | 9903 | €27,702 | -€32,287 | -€59,989 | |
| Income taxes | 67/77 | €2,884 | - | -€2,884 | |
| Profit (loss) for the period | 9904 | €24,818 | -€32,287 | -€57,105 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,818 | -€32,287 | -€57,105 |
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.