GLOE: 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.
GLOE
Largest movements
- Tangible fixed assets -€105,426
down €105,426 (-84.9%), from €124,166 to €18,739
of which Land and buildings: -€100,000
- Cash +€66,112
up €66,112 (+254%), from €26,025 to €92,137
mainly Investment in fixed assets (net) (+€99,546) and Depreciation (+€5,880)
- Receivables within one year +€7,352
up €7,352 (+3.9%), from €187,286 to €194,639
- Trade debts -€15,515
down €15,515 (-70.8%), from €21,915 to €6,400
- Other debts -€9,999
down €9,999 (-7.1%), from €141,566 to €131,567
- Profit (loss) carried forward -€6,900
down €6,900 (-12.2%), from -€56,742 to -€63,643
- Other operating charges +€99,301
up €99,301 (+3,856%), from €2,575 to €101,877
- Gross operating margin +€87,742
up €87,742 (+44.4%), from €197,800 to €285,542
- Staff costs -€36,782
down €36,782 (-16.7%), from €220,275 to €183,493
- Taxes -€6,640
down €6,640 (-99.6%), from €6,668 to €28
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 | €342,765 | €312,731 | -€30,034 | -8.8% |
| Fixed assets | 21/28 | €126,879 | €21,453 | -€105,426 | -83.1% |
| Tangible fixed assets | 22/27 | €124,166 | €18,739 | -€105,426 | -84.9% |
| Land and buildings | 22 | €100,167 | €167 | -€100,000 | -99.8% |
| Plant, machinery and equipment | 23 | €8,116 | €5,096 | -€3,020 | -37.2% |
| Furniture and vehicles | 24 | €3,575 | €2,621 | -€954 | -26.7% |
| Other tangible fixed assets | 26 | €12,308 | €10,855 | -€1,452 | -11.8% |
| Financial fixed assets | 28 | €2,713 | €2,713 | = | 0.0% |
| Current assets | 29/58 | €215,886 | €291,278 | +€75,392 | +34.9% |
| Stocks and contracts in progress | 3 | €2,575 | €4,075 | +€1,500 | +58.3% |
| Stocks | 30/36 | €2,575 | €4,075 | +€1,500 | +58.3% |
| Amounts receivable within one year | 40/41 | €187,286 | €194,639 | +€7,352 | +3.9% |
| Other amounts receivable | 41 | €187,286 | €194,639 | +€7,352 | +3.9% |
| Cash at bank and in hand | 54/58 | €26,025 | €92,137 | +€66,112 | +254% |
| Deferred charges and accrued income | 490/1 | - | €428 | +€428 | |
| Total equity and liabilities | 10/49 | €342,765 | €312,731 | -€30,034 | -8.8% |
| Equity | 10/15 | €161,858 | €154,957 | -€6,900 | -4.3% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€56,742 | -€63,643 | -€6,900 | -12.2% |
| Amounts payable | 17/49 | €180,907 | €157,774 | -€23,134 | -12.8% |
| Amounts payable within one year | 42/48 | €180,907 | €157,774 | -€23,134 | -12.8% |
| Trade debts | 44 | €21,915 | €6,400 | -€15,515 | -70.8% |
| Suppliers | 440/4 | €21,915 | €6,400 | -€15,515 | -70.8% |
| Taxes, remuneration and social security | 45 | €17,426 | €19,807 | +€2,381 | +13.7% |
| Taxes | 450/3 | €13,862 | €15,638 | +€1,776 | +12.8% |
| Remuneration and social security | 454/9 | €3,564 | €4,169 | +€605 | +17.0% |
| Other amounts payable | 47/48 | €141,566 | €131,567 | -€9,999 | -7.1% |
| Non-recurring operating income | 76A | - | €100,000 | +€100,000 | |
| Remuneration, social security and pensions | 62 | €220,275 | €183,493 | -€36,782 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,032 | €5,880 | -€152 | -2.5% |
| Other operating charges | 640/8 | €2,575 | €101,877 | +€99,301 | +3,856% |
| Gross operating margin | 9900 | €197,800 | €285,542 | +€87,742 | +44.4% |
| Operating profit (loss) | 9901 | -€31,083 | -€5,707 | +€25,375 | +81.6% |
| Financial income | 75/76B | - | €39 | +€39 | |
| Recurring financial income | 75 | - | €39 | +€39 | |
| Financial charges | 65/66B | €944 | €1,205 | +€261 | +27.6% |
| Recurring financial charges | 65 | €944 | €1,205 | +€261 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,026 | -€6,873 | +€25,154 | +78.5% |
| Income taxes | 67/77 | €6,668 | €28 | -€6,640 | -99.6% |
| Profit (loss) for the period | 9904 | -€38,694 | -€6,900 | +€31,793 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,694 | -€6,900 | +€31,793 | +82.2% |
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 17 October 2026 via checked.be.