GLEXSO: 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.
GLEXSO
Largest movements
- Cash -€9,445
down €9,445 (-20.9%), from €45,111 to €35,666
mainly Contributions, distributions and other (-€38,000) and Tax, wage and social debts (-€13,336)
- Receivables within one year -€5,159
down €5,159 (-15.7%), from €32,922 to €27,763
of which Trade receivables: -€23,328
- Tax, wage and social debts -€13,336
down €13,336 (-41.6%), from €32,072 to €18,736
of which Taxes: -€14,852
- Other debts -€2,655
down €2,655 (-8.7%), from €30,478 to €27,823
- Trade debts +€1,526
up €1,526 (+95.1%), from €1,605 to €3,131
- Gross operating margin +€26,115
up €26,115 (+29.7%), from €87,794 to €113,908
- Staff costs +€10,441
up €10,441 (+23.3%), from €44,755 to €55,196
- Taxes +€9,703
up €9,703 (+155.5%), from €6,240 to €15,943
- Financial income -€2,334
down €2,334 (-83.7%), from €2,790 to €456
- Depreciation +€1,759
up €1,759 (+339.0%), from €519 to €2,278
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 | €84,633 | €70,527 | -€14,106 | -16.7% |
| Fixed assets | 21/28 | €4,992 | €5,259 | +€267 | +5.3% |
| Tangible fixed assets | 22/27 | €4,992 | €5,259 | +€267 | +5.3% |
| Plant, machinery and equipment | 23 | €2,050 | €2,038 | -€11 | -0.6% |
| Furniture and vehicles | 24 | €2,943 | €3,221 | +€278 | +9.4% |
| Current assets | 29/58 | €79,641 | €65,269 | -€14,373 | -18.0% |
| Amounts receivable within one year | 40/41 | €32,922 | €27,763 | -€5,159 | -15.7% |
| Trade receivables | 40 | €32,922 | €9,595 | -€23,328 | -70.9% |
| Other amounts receivable | 41 | - | €18,168 | +€18,168 | |
| Cash at bank and in hand | 54/58 | €45,111 | €35,666 | -€9,445 | -20.9% |
| Deferred charges and accrued income | 490/1 | €1,608 | €1,840 | +€232 | +14.4% |
| Total equity and liabilities | 10/49 | €84,633 | €70,527 | -€14,106 | -16.7% |
| Equity | 10/15 | €20,478 | €20,838 | +€360 | +1.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18 | €378 | +€360 | +1985.4% |
| Amounts payable | 17/49 | €64,155 | €49,690 | -€14,465 | -22.5% |
| Amounts payable within one year | 42/48 | €64,155 | €49,690 | -€14,465 | -22.5% |
| Trade debts | 44 | €1,605 | €3,131 | +€1,526 | +95.1% |
| Suppliers | 440/4 | €1,605 | €3,131 | +€1,526 | +95.1% |
| Taxes, remuneration and social security | 45 | €32,072 | €18,736 | -€13,336 | -41.6% |
| Taxes | 450/3 | €26,252 | €11,400 | -€14,852 | -56.6% |
| Remuneration and social security | 454/9 | €5,820 | €7,336 | +€1,516 | +26.0% |
| Other amounts payable | 47/48 | €30,478 | €27,823 | -€2,655 | -8.7% |
| Remuneration, social security and pensions | 62 | €44,755 | €55,196 | +€10,441 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €519 | €2,278 | +€1,759 | +339.0% |
| Other operating charges | 640/8 | €1,111 | €916 | -€195 | -17.6% |
| Gross operating margin | 9900 | €87,794 | €113,908 | +€26,115 | +29.7% |
| Operating profit (loss) | 9901 | €41,409 | €55,519 | +€14,110 | +34.1% |
| Financial income | 75/76B | €2,790 | €456 | -€2,334 | -83.7% |
| Recurring financial income | 75 | €2,790 | €456 | -€2,334 | -83.7% |
| Financial charges | 65/66B | €466 | €1,672 | +€1,206 | +258.9% |
| Recurring financial charges | 65 | €466 | €1,672 | +€1,206 | +258.9% |
| Profit (loss) for the period before taxes | 9903 | €43,733 | €54,302 | +€10,569 | +24.2% |
| Income taxes | 67/77 | €6,240 | €15,943 | +€9,703 | +155.5% |
| Profit (loss) for the period | 9904 | €37,493 | €38,360 | +€866 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,493 | €38,360 | +€866 | +2.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.