GLORA: 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.
GLORA
Largest movements
- Tangible fixed assets -€13,809
down €13,809 (-71.6%), from €19,272 to €5,464
of which Leasing and similar rights: -€13,041
- Cash +€7,902
up €7,902 (+137.1%), from €5,762 to €13,664
mainly Net result for the year (+€30,979) and Other debts (+€27,014)
- Receivables within one year +€3,801
up €3,801 (+28.6%), from €13,310 to €17,111
of which Trade receivables: +€3,796
- Other debts +€27,014
up €27,014 (+352.5%), from €7,663 to €34,677
- Current portion of long-term debt -€15,150
down €15,150 (-58.6%), from €25,852 to €10,702
- Debts after one year -€10,714
down €10,714 (-12.5%), from €85,714 to €75,000
- Reserves -€8,021
down €8,021 (-17.8%), from €44,947 to €36,926
- Tax, wage and social debts +€4,978
up €4,978 (+51.9%), from €9,583 to €14,561
- Gross operating margin -€2,683
down €2,683 (-4.2%), from €63,630 to €60,948
- Taxes -€1,224
down €1,224 (-9.6%), from €12,730 to €11,507
- Financial charges +€982
up €982 (+80.2%), from €1,225 to €2,207
- Other operating charges +€862
up €862 (+54.4%), from €1,584 to €2,447
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 | €193,345 | €191,238 | -€2,106 | -1.1% |
| Fixed assets | 21/28 | €174,272 | €160,464 | -€13,809 | -7.9% |
| Tangible fixed assets | 22/27 | €19,272 | €5,464 | -€13,809 | -71.6% |
| Furniture and vehicles | 24 | €3,156 | €2,388 | -€768 | -24.3% |
| Leasing and similar rights | 25 | €16,116 | €3,076 | -€13,041 | -80.9% |
| Financial fixed assets | 28 | €155,000 | €155,000 | = | 0.0% |
| Current assets | 29/58 | €19,072 | €30,775 | +€11,702 | +61.4% |
| Amounts receivable within one year | 40/41 | €13,310 | €17,111 | +€3,801 | +28.6% |
| Trade receivables | 40 | €13,310 | €17,106 | +€3,796 | +28.5% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €5,762 | €13,664 | +€7,902 | +137.1% |
| Total equity and liabilities | 10/49 | €193,345 | €191,238 | -€2,106 | -1.1% |
| Equity | 10/15 | €63,547 | €55,526 | -€8,021 | -12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €44,947 | €36,926 | -€8,021 | -17.8% |
| Distributable reserves | 133 | €44,947 | €36,926 | -€8,021 | -17.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €129,798 | €135,713 | +€5,915 | +4.6% |
| Amounts payable after more than one year | 17 | €85,714 | €75,000 | -€10,714 | -12.5% |
| Financial debts | 170/4 | €85,714 | €75,000 | -€10,714 | -12.5% |
| Amounts payable within one year | 42/48 | €44,084 | €60,713 | +€16,629 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €25,852 | €10,702 | -€15,150 | -58.6% |
| Trade debts | 44 | €986 | €773 | -€213 | -21.6% |
| Suppliers | 440/4 | €986 | €773 | -€213 | -21.6% |
| Taxes, remuneration and social security | 45 | €9,583 | €14,561 | +€4,978 | +51.9% |
| Taxes | 450/3 | €9,583 | €14,561 | +€4,978 | +51.9% |
| Other amounts payable | 47/48 | €7,663 | €34,677 | +€27,014 | +352.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,181 | €13,809 | +€627 | +4.8% |
| Other operating charges | 640/8 | €1,584 | €2,447 | +€862 | +54.4% |
| Gross operating margin | 9900 | €63,630 | €60,948 | -€2,683 | -4.2% |
| Operating profit (loss) | 9901 | €48,865 | €44,692 | -€4,173 | -8.5% |
| Financial income | 75/76B | €309 | €0 | -€309 | -100.0% |
| Recurring financial income | 75 | €309 | €0 | -€309 | -100.0% |
| Financial charges | 65/66B | €1,225 | €2,207 | +€982 | +80.2% |
| Recurring financial charges | 65 | €1,225 | €2,207 | +€982 | +80.2% |
| Profit (loss) for the period before taxes | 9903 | €47,949 | €42,486 | -€5,463 | -11.4% |
| Income taxes | 67/77 | €12,730 | €11,507 | -€1,224 | -9.6% |
| Profit (loss) for the period | 9904 | €35,219 | €30,979 | -€4,239 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,219 | €30,979 | -€4,239 | -12.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.