Glenpatrick Stables: what changed
Two fiscal 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.
Glenpatrick Stables
Largest movements
- Stocks and contracts -€48,000
down €48,000 (-13.2%), from €365,000 to €317,000
- Cash +€35,386
up €35,386 (+547.4%), from €6,465 to €41,851
mainly Stocks and contracts (+€48,000) and Receivables within one year (+€23,036)
- Receivables within one year -€23,036
down €23,036 (-78.1%), from €29,503 to €6,467
of which Trade receivables: -€12,497
- Tangible fixed assets -€9,701
down €9,701 (-23.0%), from €42,234 to €32,533
- Trade debts -€77,362
down €77,362 (-40.3%), from €191,904 to €114,542
- Other debts +€15,456
up €15,456 (+6.6%), from €235,088 to €250,544
- Tax, wage and social debts +€10,089
up €10,089 (+173.8%), from €5,805 to €15,894
of which Remuneration and social security: +€5,080
- Profit (loss) carried forward +€8,759
up €8,759 (+99.1%), from €8,834 to €17,593
- Gross operating margin +€31,147
up €31,147 (+86.3%), from €36,104 to €67,251
- Staff costs +€20,071
up €20,071 (+102.3%), from €19,627 to €39,699
- Depreciation +€9,509
up €9,509 (+597.3%), from €1,592 to €11,101
- Financial charges +€1,617
up €1,617 (+733.4%), from €221 to €1,838
- Other operating charges +€1,167
up €1,167 (+306.8%), from €381 to €1,548
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 | €444,631 | €401,572 | -€43,059 | -9.7% |
| Formation expenses | 20 | €247 | €0 | -€247 | -100.0% |
| Fixed assets | 21/28 | €42,234 | €32,533 | -€9,701 | -23.0% |
| Tangible fixed assets | 22/27 | €42,234 | €32,533 | -€9,701 | -23.0% |
| Furniture and vehicles | 24 | €42,234 | €32,533 | -€9,701 | -23.0% |
| Current assets | 29/58 | €402,150 | €369,039 | -€33,111 | -8.2% |
| Stocks and contracts in progress | 3 | €365,000 | €317,000 | -€48,000 | -13.2% |
| Stocks | 30/36 | €365,000 | €317,000 | -€48,000 | -13.2% |
| Amounts receivable within one year | 40/41 | €29,503 | €6,467 | -€23,036 | -78.1% |
| Trade receivables | 40 | €14,941 | €2,444 | -€12,497 | -83.6% |
| Other amounts receivable | 41 | €14,561 | €4,023 | -€10,539 | -72.4% |
| Cash at bank and in hand | 54/58 | €6,465 | €41,851 | +€35,386 | +547.4% |
| Deferred charges and accrued income | 490/1 | €1,182 | €3,721 | +€2,539 | +214.8% |
| Total equity and liabilities | 10/49 | €444,631 | €401,572 | -€43,059 | -9.7% |
| Equity | 10/15 | €11,834 | €20,593 | +€8,759 | +74.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,834 | €17,593 | +€8,759 | +99.1% |
| Amounts payable | 17/49 | €432,797 | €380,980 | -€51,817 | -12.0% |
| Amounts payable within one year | 42/48 | €432,797 | €380,980 | -€51,817 | -12.0% |
| Trade debts | 44 | €191,904 | €114,542 | -€77,362 | -40.3% |
| Suppliers | 440/4 | €191,904 | €114,542 | -€77,362 | -40.3% |
| Taxes, remuneration and social security | 45 | €5,805 | €15,894 | +€10,089 | +173.8% |
| Taxes | 450/3 | €3,628 | €8,637 | +€5,008 | +138.0% |
| Remuneration and social security | 454/9 | €2,177 | €7,257 | +€5,080 | +233.4% |
| Other amounts payable | 47/48 | €235,088 | €250,544 | +€15,456 | +6.6% |
| Remuneration, social security and pensions | 62 | €19,627 | €39,699 | +€20,071 | +102.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,592 | €11,101 | +€9,509 | +597.3% |
| Other operating charges | 640/8 | €381 | €1,548 | +€1,167 | +306.8% |
| Gross operating margin | 9900 | €36,104 | €67,251 | +€31,147 | +86.3% |
| Operating profit (loss) | 9901 | €14,504 | €14,903 | +€399 | +2.8% |
| Financial income | 75/76B | €0 | €148 | +€148 | +87064.7% |
| Recurring financial income | 75 | €0 | €148 | +€148 | +87064.7% |
| Financial charges | 65/66B | €221 | €1,838 | +€1,617 | +733.4% |
| Recurring financial charges | 65 | €221 | €1,838 | +€1,617 | +733.4% |
| Profit (loss) for the period before taxes | 9903 | €14,283 | €13,213 | -€1,070 | -7.5% |
| Income taxes | 67/77 | €3,038 | €3,622 | +€584 | +19.2% |
| Profit (loss) for the period | 9904 | €11,246 | €9,592 | -€1,654 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,246 | €9,592 | -€1,654 | -14.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.