Glittek: 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.
Glittek
Largest movements
- Tangible fixed assets +€12.1m
up €12.1m (+305.7%), from €4.0m to €16.0m
of which Land and buildings: +€12.1m
- Short-term financial debts +€10.9m
up €10.9m (+571.9%), from €1.9m to €12.8m
- Other debts +€1.6m
up €1.6m (+87.5%), from €1.8m to €3.4m
- Reserves -€280,241
down €280,241 (-76.2%), from €367,908 to €87,667
of which Distributable reserves: -€280,241
- Depreciation +€234,281
up €234,281 (+114.5%), from €204,544 to €438,825
- Gross operating margin +€120,854
up €120,854 (+41.6%), from €290,355 to €411,208
- Other operating charges +€55,748
up €55,748 (+82.5%), from €67,604 to €123,352
- Financial charges +€46,574
up €46,574 (+54.2%), from €86,000 to €132,574
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 | €4,423,927 | €16,557,638 | +€12.1m | +274.3% |
| Fixed assets | 21/28 | €4,044,459 | €16,125,415 | +€12.1m | +298.7% |
| Tangible fixed assets | 22/27 | €3,951,459 | €16,032,415 | +€12.1m | +305.7% |
| Land and buildings | 22 | €3,491,459 | €15,572,415 | +€12.1m | +346.0% |
| Other tangible fixed assets | 26 | €460,000 | €460,000 | = | 0.0% |
| Financial fixed assets | 28 | €93,000 | €93,000 | = | 0.0% |
| Current assets | 29/58 | €379,468 | €432,222 | +€52,754 | +13.9% |
| Amounts receivable within one year | 40/41 | €330,793 | €337,716 | +€6,923 | +2.1% |
| Other amounts receivable | 41 | €330,793 | €337,716 | +€6,923 | +2.1% |
| Cash at bank and in hand | 54/58 | €26,220 | €94,231 | +€68,011 | +259.4% |
| Deferred charges and accrued income | 490/1 | €22,455 | €276 | -€22,180 | -98.8% |
| Total equity and liabilities | 10/49 | €4,423,927 | €16,557,638 | +€12.1m | +274.3% |
| Equity | 10/15 | €634,333 | €354,092 | -€280,241 | -44.2% |
| Contributions | 10/11 | €266,425 | €266,425 | = | 0.0% |
| Capital | 10 | €266,425 | €266,425 | = | 0.0% |
| Issued capital | 100 | €266,425 | €266,425 | = | 0.0% |
| Reserves | 13 | €367,908 | €87,667 | -€280,241 | -76.2% |
| Non-distributable reserves | 130/1 | €16,778 | €16,778 | = | 0.0% |
| Legal reserve | 130 | €16,778 | €16,778 | = | 0.0% |
| Distributable reserves | 133 | €351,130 | €70,889 | -€280,241 | -79.8% |
| Provisions and deferred taxes | 16 | €20,438 | €17,136 | -€3,302 | -16.2% |
| Deferred taxes | 168 | €20,438 | €17,136 | -€3,302 | -16.2% |
| Amounts payable | 17/49 | €3,769,155 | €16,186,409 | +€12.4m | +329.4% |
| Amounts payable within one year | 42/48 | €3,761,654 | €16,174,757 | +€12.4m | +330.0% |
| Current portion of amounts payable after more than one year | 42 | €20,886 | - | -€20,886 | |
| Financial debts | 43 | €1,900,000 | €12,766,667 | +€10.9m | +571.9% |
| Credit institutions | 430/8 | €1,900,000 | €12,766,667 | +€10.9m | +571.9% |
| Trade debts | 44 | €32,683 | €7,205 | -€25,479 | -78.0% |
| Suppliers | 440/4 | €32,683 | €7,205 | -€25,479 | -78.0% |
| Taxes, remuneration and social security | 45 | €6,479 | €23,241 | +€16,762 | +258.7% |
| Taxes | 450/3 | €6,479 | €23,241 | +€16,762 | +258.7% |
| Other amounts payable | 47/48 | €1,801,606 | €3,377,645 | +€1.6m | +87.5% |
| Accrued charges and deferred income | 492/3 | €7,502 | €11,653 | +€4,151 | +55.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,544 | €438,825 | +€234,281 | +114.5% |
| Other operating charges | 640/8 | €67,604 | €123,352 | +€55,748 | +82.5% |
| Gross operating margin | 9900 | €290,355 | €411,208 | +€120,854 | +41.6% |
| Operating profit (loss) | 9901 | €18,207 | -€150,969 | -€169,176 | |
| Financial charges | 65/66B | €86,000 | €132,574 | +€46,574 | +54.2% |
| Recurring financial charges | 65 | €86,000 | €132,574 | +€46,574 | +54.2% |
| Profit (loss) for the period before taxes | 9903 | -€67,793 | -€283,543 | -€215,750 | -318.2% |
| Transfer from deferred taxes | 780 | €3,302 | €3,302 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€64,490 | -€280,241 | -€215,750 | -334.5% |
| Transfer from tax-exempt reserves | 789 | €1,731 | - | -€1,731 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,760 | -€280,241 | -€217,481 | -346.5% |
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 5 October 2026 via checked.be.