GLODA: 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.
GLODA
Largest movements
- Current investments +€947,683
new in 2025: €947,683
- Tangible fixed assets -€94,240
down €94,240 (-9.8%), from €961,542 to €867,302
of which Land and buildings: -€72,073
- Reserves +€611,888
up €611,888 (+931.3%), from €65,703 to €677,591
of which Distributable reserves: +€611,888
- Short-term financial debts +€220,000
up €220,000 (+440.0%), from €50,000 to €270,000
of which Other loans: +€220,000
- Tax, wage and social debts +€66,566
up €66,566 (+452828.4%), from €15 to €66,580
- Debts after one year -€47,409
down €47,409 (-10.4%), from €454,474 to €407,066
- Profit (loss) carried forward +€25,467
up €25,467, from -€25,467 to €0
- Gross operating margin +€925,443
up €925,443 (+2619.2%), from €35,333 to €960,777
- Taxes +€282,137
up €282,137 (+321231.0%), from €88 to €282,225
- Financial charges -€12,866
down €12,866 (-38.3%), from €33,584 to €20,718
of which Non-recurring financial charges: -€20,500
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 | €992,005 | €1,861,499 | +€869,494 | +87.7% |
| Fixed assets | 21/28 | €961,542 | €867,302 | -€94,240 | -9.8% |
| Tangible fixed assets | 22/27 | €961,542 | €867,302 | -€94,240 | -9.8% |
| Land and buildings | 22 | €932,000 | €859,927 | -€72,073 | -7.7% |
| Plant, machinery and equipment | 23 | €12,041 | €7,375 | -€4,667 | -38.8% |
| Other tangible fixed assets | 26 | €17,501 | €0 | -€17,501 | -100.0% |
| Current assets | 29/58 | €30,463 | €994,197 | +€963,734 | +3163.6% |
| Amounts receivable within one year | 40/41 | €1,213 | €7,580 | +€6,367 | +524.7% |
| Trade receivables | 40 | €1,213 | €7,580 | +€6,367 | +524.7% |
| Current investments | 50/53 | - | €947,683 | +€947,683 | |
| Cash at bank and in hand | 54/58 | €28,927 | €38,934 | +€10,007 | +34.6% |
| Deferred charges and accrued income | 490/1 | €322 | €0 | -€322 | -100.0% |
| Total equity and liabilities | 10/49 | €992,005 | €1,861,499 | +€869,494 | +87.7% |
| Equity | 10/15 | €102,237 | €739,591 | +€637,354 | +623.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €65,703 | €677,591 | +€611,888 | +931.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €59,503 | €671,391 | +€611,888 | +1028.3% |
| Profit (loss) carried forward | 14 | -€25,467 | €0 | +€25,467 | |
| Amounts payable | 17/49 | €889,768 | €1,121,908 | +€232,139 | +26.1% |
| Amounts payable after more than one year | 17 | €454,474 | €407,066 | -€47,409 | -10.4% |
| Financial debts | 170/4 | €454,474 | €407,066 | -€47,409 | -10.4% |
| Amounts payable within one year | 42/48 | €435,294 | €714,599 | +€279,305 | +64.2% |
| Current portion of amounts payable after more than one year | 42 | €46,269 | €47,409 | +€1,139 | +2.5% |
| Financial debts | 43 | €50,000 | €270,000 | +€220,000 | +440.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Other loans | 439 | - | €220,000 | +€220,000 | |
| Trade debts | 44 | €4,496 | €6,463 | +€1,967 | +43.8% |
| Suppliers | 440/4 | €4,496 | €6,463 | +€1,967 | +43.8% |
| Taxes, remuneration and social security | 45 | €15 | €66,580 | +€66,566 | +452828.4% |
| Taxes | 450/3 | €15 | €66,580 | +€66,566 | +452828.4% |
| Other amounts payable | 47/48 | €334,514 | €324,147 | -€10,367 | -3.1% |
| Accrued charges and deferred income | 492/3 | - | €243 | +€243 | |
| Non-recurring operating income | 76A | - | €940,442 | +€940,442 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,992 | €16,584 | -€1,408 | -7.8% |
| Other operating charges | 640/8 | €9,135 | €9,550 | +€415 | +4.5% |
| Gross operating margin | 9900 | €35,333 | €960,777 | +€925,443 | +2619.2% |
| Operating profit (loss) | 9901 | €8,205 | €934,642 | +€926,437 | +11290.6% |
| Financial income | 75/76B | - | €5,655 | +€5,655 | |
| Recurring financial income | 75 | - | €5,655 | +€5,655 | |
| Financial charges | 65/66B | €33,584 | €20,718 | -€12,866 | -38.3% |
| Recurring financial charges | 65 | €13,084 | €20,718 | +€7,634 | +58.3% |
| Non-recurring financial charges | 66B | €20,500 | €0 | -€20,500 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,379 | €919,579 | +€944,958 | |
| Income taxes | 67/77 | €88 | €282,225 | +€282,137 | +321231.0% |
| Profit (loss) for the period | 9904 | -€25,467 | €637,354 | +€662,821 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,467 | €637,354 | +€662,821 |
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 30 September 2026 via checked.be.