GLO-RES: 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-RES
Largest movements
- Cash +€322,174
up €322,174 (+3,361%), from €9,586 to €331,760
mainly Other debts (+€409,564) and Net result for the year (+€201,237)
- Financial fixed assets -€115,500
down €115,500 (-31.4%), from €367,950 to €252,450
- Receivables within one year -€109,791
down €109,791 (-24.0%), from €456,727 to €346,936
of which Trade receivables: -€84,700
- Tangible fixed assets -€50,928
down €50,928 (-5.3%), from €953,950 to €903,022
of which Land and buildings: -€43,087
- Other debts +€409,564
up €409,564 (+439%), from €93,236 to €502,801
- Reserves -€200,263
down €200,263 (-20.2%), from €989,816 to €789,553
- Debts after one year -€150,000
down €150,000 (-50.0%), from €300,000 to €150,000
- Gross operating margin -€43,439
down €43,439 (-10.7%), from €406,909 to €363,470
- Taxes -€18,137
down €18,137 (-17.1%), from €106,183 to €88,045
- Depreciation +€15,009
up €15,009 (+28.1%), from €53,339 to €68,349
- Financial charges -€5,276
down €5,276 (-42.2%), from €12,497 to €7,221
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 | €1,792,852 | €1,838,833 | +€45,981 | +2.6% |
| Fixed assets | 21/28 | €1,321,900 | €1,155,472 | -€166,428 | -12.6% |
| Tangible fixed assets | 22/27 | €953,950 | €903,022 | -€50,928 | -5.3% |
| Land and buildings | 22 | €935,911 | €892,824 | -€43,087 | -4.6% |
| Plant, machinery and equipment | 23 | €5,745 | €8,224 | +€2,478 | +43.1% |
| Furniture and vehicles | 24 | €12,293 | €1,974 | -€10,320 | -83.9% |
| Financial fixed assets | 28 | €367,950 | €252,450 | -€115,500 | -31.4% |
| Current assets | 29/58 | €470,952 | €683,361 | +€212,409 | +45.1% |
| Amounts receivable within one year | 40/41 | €456,727 | €346,936 | -€109,791 | -24.0% |
| Trade receivables | 40 | €430,760 | €346,060 | -€84,700 | -19.7% |
| Other amounts receivable | 41 | €25,967 | €877 | -€25,091 | -96.6% |
| Cash at bank and in hand | 54/58 | €9,586 | €331,760 | +€322,174 | +3,361% |
| Deferred charges and accrued income | 490/1 | €4,638 | €4,665 | +€26 | +0.6% |
| Total equity and liabilities | 10/49 | €1,792,852 | €1,838,833 | +€45,981 | +2.6% |
| Equity | 10/15 | €1,289,816 | €1,089,553 | -€200,263 | -15.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €989,816 | €789,553 | -€200,263 | -20.2% |
| Distributable reserves | 133 | €989,816 | €789,553 | -€200,263 | -20.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €503,036 | €749,280 | +€246,244 | +49.0% |
| Amounts payable after more than one year | 17 | €300,000 | €150,000 | -€150,000 | -50.0% |
| Financial debts | 170/4 | €300,000 | €150,000 | -€150,000 | -50.0% |
| Amounts payable within one year | 42/48 | €203,036 | €595,125 | +€392,089 | +193% |
| Trade debts | 44 | €12,225 | €8,268 | -€3,957 | -32.4% |
| Suppliers | 440/4 | €12,225 | €8,268 | -€3,957 | -32.4% |
| Taxes, remuneration and social security | 45 | €97,575 | €84,056 | -€13,518 | -13.9% |
| Taxes | 450/3 | €97,575 | €84,056 | -€13,518 | -13.9% |
| Other amounts payable | 47/48 | €93,236 | €502,801 | +€409,564 | +439% |
| Accrued charges and deferred income | 492/3 | - | €4,155 | +€4,155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,339 | €68,349 | +€15,009 | +28.1% |
| Other operating charges | 640/8 | €3,524 | €3,268 | -€257 | -7.3% |
| Gross operating margin | 9900 | €406,909 | €363,470 | -€43,439 | -10.7% |
| Operating profit (loss) | 9901 | €350,045 | €291,854 | -€58,191 | -16.6% |
| Financial income | 75/76B | €7,886 | €4,649 | -€3,237 | -41.0% |
| Recurring financial income | 75 | €7,886 | €4,649 | -€3,237 | -41.0% |
| Financial charges | 65/66B | €12,497 | €7,221 | -€5,276 | -42.2% |
| Recurring financial charges | 65 | €12,497 | €7,221 | -€5,276 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €345,434 | €289,282 | -€56,152 | -16.3% |
| Income taxes | 67/77 | €106,183 | €88,045 | -€18,137 | -17.1% |
| Profit (loss) for the period | 9904 | €239,251 | €201,237 | -€38,014 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €239,251 | €201,237 | -€38,014 | -15.9% |
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 30 October 2026 via checked.be.