GLO: 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.
GLO
Largest movements
- Cash -€81,908
down €81,908 (-99.6%), from €82,204 to €295
mainly Receivables within one year (-€61,249) and Current investments (-€43,528)
- Receivables within one year +€61,249
up €61,249 (+402%), from €15,246 to €76,495
of which Other amounts receivable: +€59,724
- Current investments +€43,528
new in 2025: €43,528
- Tangible fixed assets -€4,550
down €4,550 (-19.3%), from €23,623 to €19,072
- Deferred charges and accrued income -€1,499
down €1,499 (-40.8%), from €3,671 to €2,172
- Profit (loss) carried forward +€36,508
up €36,508 (+50.8%), from €71,899 to €108,407
- Tax, wage and social debts -€9,607
down €9,607 (-33.6%), from €28,628 to €19,021
- Debts after one year -€7,978
down €7,978 (-74.4%), from €10,718 to €2,740
- Accrued charges and deferred income -€1,600
no longer reported in 2025 (was €1,600)
- Gross operating margin -€42,317
down €42,317 (-41.2%), from €102,676 to €60,359
- Taxes -€8,010
down €8,010 (-40.3%), from €19,888 to €11,877
- Depreciation +€2,010
up €2,010 (+23.1%), from €8,708 to €10,719
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 | €124,743 | €141,562 | +€16,819 | +13.5% |
| Fixed assets | 21/28 | €23,623 | €19,072 | -€4,550 | -19.3% |
| Tangible fixed assets | 22/27 | €23,623 | €19,072 | -€4,550 | -19.3% |
| Furniture and vehicles | 24 | €23,623 | €19,072 | -€4,550 | -19.3% |
| Current assets | 29/58 | €101,121 | €122,490 | +€21,369 | +21.1% |
| Amounts receivable within one year | 40/41 | €15,246 | €76,495 | +€61,249 | +402% |
| Trade receivables | 40 | €15,246 | €16,771 | +€1,525 | +10.0% |
| Other amounts receivable | 41 | - | €59,724 | +€59,724 | |
| Current investments | 50/53 | - | €43,528 | +€43,528 | |
| Cash at bank and in hand | 54/58 | €82,204 | €295 | -€81,908 | -99.6% |
| Deferred charges and accrued income | 490/1 | €3,671 | €2,172 | -€1,499 | -40.8% |
| Total equity and liabilities | 10/49 | €124,743 | €141,562 | +€16,819 | +13.5% |
| Equity | 10/15 | €74,399 | €110,907 | +€36,508 | +49.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,899 | €108,407 | +€36,508 | +50.8% |
| Amounts payable | 17/49 | €50,344 | €30,655 | -€19,689 | -39.1% |
| Amounts payable after more than one year | 17 | €10,718 | €2,740 | -€7,978 | -74.4% |
| Financial debts | 170/4 | €10,718 | €2,740 | -€7,978 | -74.4% |
| Amounts payable within one year | 42/48 | €38,026 | €27,915 | -€10,111 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €7,630 | €7,978 | +€349 | +4.6% |
| Trade debts | 44 | €952 | €83 | -€869 | -91.3% |
| Suppliers | 440/4 | €952 | €83 | -€869 | -91.3% |
| Taxes, remuneration and social security | 45 | €28,628 | €19,021 | -€9,607 | -33.6% |
| Taxes | 450/3 | €28,628 | €19,021 | -€9,607 | -33.6% |
| Other amounts payable | 47/48 | €816 | €833 | +€17 | +2.0% |
| Accrued charges and deferred income | 492/3 | €1,600 | - | -€1,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,708 | €10,719 | +€2,010 | +23.1% |
| Other operating charges | 640/8 | €499 | €510 | +€11 | +2.1% |
| Gross operating margin | 9900 | €102,676 | €60,359 | -€42,317 | -41.2% |
| Operating profit (loss) | 9901 | €93,468 | €49,131 | -€44,338 | -47.4% |
| Financial income | 75/76B | - | €897 | +€897 | |
| Recurring financial income | 75 | - | €897 | +€897 | |
| Financial charges | 65/66B | €848 | €810 | -€39 | -4.6% |
| Recurring financial charges | 65 | €848 | €810 | -€39 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €92,620 | €49,218 | -€43,402 | -46.9% |
| Income taxes | 67/77 | €19,888 | €11,877 | -€8,010 | -40.3% |
| Profit (loss) for the period | 9904 | €72,732 | €37,341 | -€35,391 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,732 | €37,341 | -€35,391 | -48.7% |
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 15 October 2026 via checked.be.