GLESA: 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.
GLESA
Largest movements
- Cash +€30,698
up €30,698 (+69.7%), from €44,066 to €74,764
mainly Net result for the year (+€63,135) and Other debts (+€12,250)
- Receivables within one year -€10,678
down €10,678 (-34.4%), from €31,061 to €20,383
of which Trade receivables: -€8,365
- Other debts +€12,250
up €12,250 (+20.2%), from €60,561 to €72,810
- Tax, wage and social debts +€9,216
up €9,216 (+85.7%), from €10,749 to €19,965
- Gross operating margin +€19,758
up €19,758 (+30.6%), from €64,599 to €84,357
- Taxes +€2,783
up €2,783 (+17.7%), from €15,701 to €18,484
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 | €77,747 | €98,979 | +€21,232 | +27.3% |
| Fixed assets | 21/28 | €1,434 | €2,285 | +€851 | +59.3% |
| Tangible fixed assets | 22/27 | €1,434 | €2,285 | +€851 | +59.3% |
| Furniture and vehicles | 24 | €998 | €2,089 | +€1,091 | +109% |
| Other tangible fixed assets | 26 | €436 | €196 | -€241 | -55.1% |
| Current assets | 29/58 | €76,313 | €96,694 | +€20,381 | +26.7% |
| Amounts receivable within one year | 40/41 | €31,061 | €20,383 | -€10,678 | -34.4% |
| Trade receivables | 40 | €28,748 | €20,383 | -€8,365 | -29.1% |
| Other amounts receivable | 41 | €2,313 | €0 | -€2,313 | -100% |
| Cash at bank and in hand | 54/58 | €44,066 | €74,764 | +€30,698 | +69.7% |
| Deferred charges and accrued income | 490/1 | €1,185 | €1,546 | +€361 | +30.5% |
| Total equity and liabilities | 10/49 | €77,747 | €98,979 | +€21,232 | +27.3% |
| Equity | 10/15 | €4,713 | €4,847 | +€135 | +2.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,213 | €2,347 | +€135 | +6.1% |
| Amounts payable | 17/49 | €73,034 | €94,131 | +€21,097 | +28.9% |
| Amounts payable within one year | 42/48 | €72,720 | €94,131 | +€21,411 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Trade debts | 44 | €1,411 | €1,356 | -€55 | -3.9% |
| Suppliers | 440/4 | €1,411 | €1,356 | -€55 | -3.9% |
| Taxes, remuneration and social security | 45 | €10,749 | €19,965 | +€9,216 | +85.7% |
| Taxes | 450/3 | €10,749 | €19,965 | +€9,216 | +85.7% |
| Other amounts payable | 47/48 | €60,561 | €72,810 | +€12,250 | +20.2% |
| Accrued charges and deferred income | 492/3 | €314 | €0 | -€314 | -100% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,326 | €1,454 | +€127 | +9.6% |
| Other operating charges | 640/8 | €1,073 | €995 | -€77 | -7.2% |
| Gross operating margin | 9900 | €64,599 | €84,357 | +€19,758 | +30.6% |
| Operating profit (loss) | 9901 | €62,200 | €81,908 | +€19,708 | +31.7% |
| Financial income | 75/76B | €108 | €219 | +€111 | +103% |
| Recurring financial income | 75 | €108 | €219 | +€111 | +103% |
| Financial charges | 65/66B | €505 | €508 | +€3 | +0.6% |
| Recurring financial charges | 65 | €505 | €508 | +€3 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €61,803 | €81,618 | +€19,815 | +32.1% |
| Income taxes | 67/77 | €15,701 | €18,484 | +€2,783 | +17.7% |
| Profit (loss) for the period | 9904 | €46,102 | €63,135 | +€17,032 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,102 | €63,135 | +€17,032 | +36.9% |
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 13 October 2026 via checked.be.