GLIZZ: 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.
GLIZZ
Largest movements
- Intangible fixed assets +€50,754
up €50,754 (+108%), from €47,078 to €97,832
- Receivables within one year -€50,312
down €50,312 (-60.5%), from €83,151 to €32,839
of which Trade receivables: -€53,018
- Tangible fixed assets +€21,668
up €21,668 (+10.0%), from €217,260 to €238,927
of which Plant, machinery and equipment: +€29,640
- Cash +€8,398
up €8,398 (+28.5%), from €29,458 to €37,857
mainly Depreciation (+€64,943) and Receivables within one year (+€50,312)
- Deferred charges and accrued income -€7,572
down €7,572 (-54.3%), from €13,935 to €6,363
- Trade debts -€58,363
down €58,363 (-45.8%), from €127,368 to €69,005
- Tax, wage and social debts +€44,605
up €44,605 (+324%), from €13,753 to €58,358
of which Remuneration and social security: +€25,710
- Profit (loss) carried forward -€38,854
down €38,854, from €2,891 to -€35,963
- Debts after one year +€29,346
up €29,346 (+21.4%), from €136,902 to €166,247
- Current portion of long-term debt +€28,113
up €28,113 (+51.1%), from €54,968 to €83,081
- Gross operating margin +€274,976
up €274,976 (+462%), from €59,468 to €334,444
- Staff costs +€255,011
up €255,011 (+683%), from €37,355 to €292,367
- Depreciation +€53,886
up €53,886 (+487%), from €11,057 to €64,943
- Financial charges +€7,893
up €7,893 (+113%), from €6,955 to €14,848
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 | €390,882 | €413,817 | +€22,935 | +5.9% |
| Fixed assets | 21/28 | €264,337 | €336,759 | +€72,422 | +27.4% |
| Intangible fixed assets | 21 | €47,078 | €97,832 | +€50,754 | +108% |
| Tangible fixed assets | 22/27 | €217,260 | €238,927 | +€21,668 | +10.0% |
| Plant, machinery and equipment | 23 | €70,555 | €100,195 | +€29,640 | +42.0% |
| Furniture and vehicles | 24 | €5,927 | €5,319 | -€609 | -10.3% |
| Leasing and similar rights | 25 | €60,800 | €47,840 | -€12,960 | -21.3% |
| Other tangible fixed assets | 26 | €79,978 | €85,574 | +€5,596 | +7.0% |
| Current assets | 29/58 | €126,544 | €77,058 | -€49,486 | -39.1% |
| Amounts receivable within one year | 40/41 | €83,151 | €32,839 | -€50,312 | -60.5% |
| Trade receivables | 40 | €68,218 | €15,200 | -€53,018 | -77.7% |
| Other amounts receivable | 41 | €14,933 | €17,639 | +€2,706 | +18.1% |
| Cash at bank and in hand | 54/58 | €29,458 | €37,857 | +€8,398 | +28.5% |
| Deferred charges and accrued income | 490/1 | €13,935 | €6,363 | -€7,572 | -54.3% |
| Total equity and liabilities | 10/49 | €390,882 | €413,817 | +€22,935 | +5.9% |
| Equity | 10/15 | €52,891 | €14,037 | -€38,854 | -73.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,891 | -€35,963 | -€38,854 | |
| Amounts payable | 17/49 | €337,991 | €399,780 | +€61,789 | +18.3% |
| Amounts payable after more than one year | 17 | €136,902 | €166,247 | +€29,346 | +21.4% |
| Financial debts | 170/4 | €136,902 | €166,247 | +€29,346 | +21.4% |
| Amounts payable within one year | 42/48 | €201,089 | €220,552 | +€19,463 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €54,968 | €83,081 | +€28,113 | +51.1% |
| Trade debts | 44 | €127,368 | €69,005 | -€58,363 | -45.8% |
| Suppliers | 440/4 | €127,368 | €69,005 | -€58,363 | -45.8% |
| Taxes, remuneration and social security | 45 | €13,753 | €58,358 | +€44,605 | +324% |
| Taxes | 450/3 | €8,149 | €27,045 | +€18,896 | +232% |
| Remuneration and social security | 454/9 | €5,603 | €31,313 | +€25,710 | +459% |
| Other amounts payable | 47/48 | €5,000 | €10,108 | +€5,108 | +102% |
| Accrued charges and deferred income | 492/3 | - | €12,980 | +€12,980 | |
| Remuneration, social security and pensions | 62 | €37,355 | €292,367 | +€255,011 | +683% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,057 | €64,943 | +€53,886 | +487% |
| Other operating charges | 640/8 | €1,186 | €933 | -€253 | -21.3% |
| Non-recurring operating charges | 66A | - | €36 | +€36 | |
| Gross operating margin | 9900 | €59,468 | €334,444 | +€274,976 | +462% |
| Operating profit (loss) | 9901 | €9,869 | -€23,835 | -€33,704 | |
| Financial income | 75/76B | €4 | €1 | -€3 | -82.4% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -82.4% |
| Financial charges | 65/66B | €6,955 | €14,848 | +€7,893 | +113% |
| Recurring financial charges | 65 | €6,955 | €14,848 | +€7,893 | +113% |
| Profit (loss) for the period before taxes | 9903 | €2,919 | -€38,682 | -€41,601 | |
| Income taxes | 67/77 | €28 | €171 | +€144 | +519% |
| Profit (loss) for the period | 9904 | €2,891 | -€38,854 | -€41,745 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,891 | -€38,854 | -€41,745 |
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 14 October 2026 via checked.be.