GLMC: 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.
GLMC
Largest movements
- Tangible fixed assets -€56,963
down €56,963 (-4.6%), from €1.2m to €1.2m
of which Land and buildings: -€44,423
- Receivables within one year +€48,664
up €48,664 (+90.5%), from €53,757 to €102,421
of which Trade receivables: +€35,977
- Receivables after one year +€40,100
up €40,100 (+11.9%), from €338,000 to €378,100
- Profit (loss) carried forward +€139,122
up €139,122 (+24.4%), from €570,258 to €709,380
- Debts after one year -€82,394
down €82,394 (-6.1%), from €1.4m to €1.3m
- Tax, wage and social debts -€59,801
down €59,801 (-99.9%), from €59,883 to €82
- Trade debts +€24,317
up €24,317 (+31.0%), from €78,316 to €102,633
- Gross operating margin -€16,989
down €16,989 (-5.2%), from €324,883 to €307,894
- Financial charges -€10,222
down €10,222 (-25.7%), from €39,791 to €29,570
- Other operating charges +€4,280
up €4,280 (+39.5%), from €10,827 to €15,107
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 | €2,247,223 | €2,279,011 | +€31,788 | +1.4% |
| Fixed assets | 21/28 | €1,791,110 | €1,734,147 | -€56,963 | -3.2% |
| Tangible fixed assets | 22/27 | €1,240,140 | €1,183,177 | -€56,963 | -4.6% |
| Land and buildings | 22 | €1,184,256 | €1,139,832 | -€44,423 | -3.8% |
| Plant, machinery and equipment | 23 | €9,257 | €10,847 | +€1,590 | +17.2% |
| Furniture and vehicles | 24 | €46,628 | €32,497 | -€14,130 | -30.3% |
| Financial fixed assets | 28 | €550,970 | €550,970 | = | 0.0% |
| Current assets | 29/58 | €456,113 | €544,864 | +€88,751 | +19.5% |
| Amounts receivable after more than one year | 29 | €338,000 | €378,100 | +€40,100 | +11.9% |
| Trade receivables | 290 | €338,000 | €378,100 | +€40,100 | +11.9% |
| Amounts receivable within one year | 40/41 | €53,757 | €102,421 | +€48,664 | +90.5% |
| Trade receivables | 40 | €29,023 | €65,000 | +€35,977 | +124.0% |
| Other amounts receivable | 41 | €24,734 | €37,421 | +€12,688 | +51.3% |
| Cash at bank and in hand | 54/58 | €62,094 | €61,986 | -€108 | -0.2% |
| Deferred charges and accrued income | 490/1 | €2,262 | €2,357 | +€95 | +4.2% |
| Total equity and liabilities | 10/49 | €2,247,223 | €2,279,011 | +€31,788 | +1.4% |
| Equity | 10/15 | €599,391 | €738,512 | +€139,122 | +23.2% |
| Contributions | 10/11 | €18,597 | €18,597 | = | 0.0% |
| Reserves | 13 | €10,535 | €10,535 | = | 0.0% |
| Distributable reserves | 133 | €10,535 | €10,535 | = | 0.0% |
| Profit (loss) carried forward | 14 | €570,258 | €709,380 | +€139,122 | +24.4% |
| Amounts payable | 17/49 | €1,647,833 | €1,540,499 | -€107,334 | -6.5% |
| Amounts payable after more than one year | 17 | €1,358,381 | €1,275,986 | -€82,394 | -6.1% |
| Financial debts | 170/4 | €1,358,381 | €1,275,986 | -€82,394 | -6.1% |
| Amounts payable within one year | 42/48 | €277,909 | €256,335 | -€21,574 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €139,710 | €150,768 | +€11,058 | +7.9% |
| Trade debts | 44 | €78,316 | €102,633 | +€24,317 | +31.0% |
| Suppliers | 440/4 | €78,316 | €102,633 | +€24,317 | +31.0% |
| Advances received on contracts in progress | 46 | - | €2,852 | +€2,852 | |
| Taxes, remuneration and social security | 45 | €59,883 | €82 | -€59,801 | -99.9% |
| Taxes | 450/3 | €59,883 | €82 | -€59,801 | -99.9% |
| Accrued charges and deferred income | 492/3 | €11,543 | €8,178 | -€3,366 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,007 | €62,210 | +€204 | +0.3% |
| Other operating charges | 640/8 | €10,827 | €15,107 | +€4,280 | +39.5% |
| Gross operating margin | 9900 | €324,883 | €307,894 | -€16,989 | -5.2% |
| Operating profit (loss) | 9901 | €252,049 | €230,577 | -€21,472 | -8.5% |
| Financial income | 75/76B | €4,494 | €1,458 | -€3,036 | -67.6% |
| Recurring financial income | 75 | €2,232 | €1,458 | -€774 | -34.7% |
| Non-recurring financial income | 76B | €2,262 | - | -€2,262 | |
| Financial charges | 65/66B | €39,791 | €29,570 | -€10,222 | -25.7% |
| Recurring financial charges | 65 | €39,791 | €29,570 | -€10,222 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | €216,753 | €202,466 | -€14,287 | -6.6% |
| Income taxes | 67/77 | €61,267 | €63,344 | +€2,077 | +3.4% |
| Profit (loss) for the period | 9904 | €155,486 | €139,122 | -€16,364 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €155,486 | €139,122 | -€16,364 | -10.5% |
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.