GLOREA: 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.
GLOREA
Largest movements
- Cash -€37,631
down €37,631 (-39.1%), from €96,272 to €58,641
mainly Trade debts (-€94,942) and Receivables within one year (-€5,420)
- Stocks and contracts -€10,560
down €10,560 (-57.0%), from €18,540 to €7,980
- Receivables within one year +€5,420
up €5,420 (+103.2%), from €5,250 to €10,670
of which Other amounts receivable: +€10,076
- Deferred charges and accrued income -€2,935
down €2,935 (-95.8%), from €3,064 to €129
- Trade debts -€94,942
down €94,942 (-97.4%), from €97,494 to €2,552
- Tax, wage and social debts +€26,741
up €26,741 (+172.6%), from €15,497 to €42,238
of which Taxes: +€19,275
- Profit (loss) carried forward +€14,244
no longer reported in 2025 (was -€14,244)
- Reserves +€11,434
up €11,434 (+615.1%), from €1,859 to €13,293
of which Distributable reserves: +€11,434
- Other debts -€3,183
down €3,183 (-78.9%), from €4,036 to €853
- Gross operating margin +€87,289
up €87,289 (+80.4%), from €108,535 to €195,824
- Staff costs +€60,870
up €60,870 (+62.3%), from €97,739 to €158,609
- Taxes +€7,002
up €7,002 (+283.7%), from €2,468 to €9,470
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 | €123,234 | €77,528 | -€45,706 | -37.1% |
| Fixed assets | 21/28 | €108 | €108 | = | 0.0% |
| Financial fixed assets | 28 | €108 | €108 | = | 0.0% |
| Current assets | 29/58 | €123,126 | €77,420 | -€45,706 | -37.1% |
| Stocks and contracts in progress | 3 | €18,540 | €7,980 | -€10,560 | -57.0% |
| Stocks | 30/36 | €18,540 | €7,980 | -€10,560 | -57.0% |
| Amounts receivable within one year | 40/41 | €5,250 | €10,670 | +€5,420 | +103.2% |
| Trade receivables | 40 | €4,656 | - | -€4,656 | |
| Other amounts receivable | 41 | €594 | €10,670 | +€10,076 | +1696.3% |
| Cash at bank and in hand | 54/58 | €96,272 | €58,641 | -€37,631 | -39.1% |
| Deferred charges and accrued income | 490/1 | €3,064 | €129 | -€2,935 | -95.8% |
| Total equity and liabilities | 10/49 | €123,234 | €77,528 | -€45,706 | -37.1% |
| Equity | 10/15 | €6,207 | €31,885 | +€25,678 | +413.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €13,293 | +€11,434 | +615.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | - | €11,434 | +€11,434 | |
| Profit (loss) carried forward | 14 | -€14,244 | - | +€14,244 | |
| Amounts payable | 17/49 | €117,027 | €45,643 | -€71,384 | -61.0% |
| Amounts payable within one year | 42/48 | €117,027 | €45,643 | -€71,384 | -61.0% |
| Trade debts | 44 | €97,494 | €2,552 | -€94,942 | -97.4% |
| Suppliers | 440/4 | €97,494 | €2,552 | -€94,942 | -97.4% |
| Taxes, remuneration and social security | 45 | €15,497 | €42,238 | +€26,741 | +172.6% |
| Taxes | 450/3 | €7,066 | €26,341 | +€19,275 | +272.8% |
| Remuneration and social security | 454/9 | €8,431 | €15,897 | +€7,466 | +88.6% |
| Other amounts payable | 47/48 | €4,036 | €853 | -€3,183 | -78.9% |
| Remuneration, social security and pensions | 62 | €97,739 | €158,609 | +€60,870 | +62.3% |
| Other operating charges | 640/8 | €182 | €553 | +€371 | +203.8% |
| Gross operating margin | 9900 | €108,535 | €195,824 | +€87,289 | +80.4% |
| Operating profit (loss) | 9901 | €10,614 | €36,662 | +€26,048 | +245.4% |
| Financial charges | 65/66B | €1,747 | €1,514 | -€233 | -13.3% |
| Recurring financial charges | 65 | €1,747 | €1,514 | -€233 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €8,867 | €35,148 | +€26,281 | +296.4% |
| Income taxes | 67/77 | €2,468 | €9,470 | +€7,002 | +283.7% |
| Profit (loss) for the period | 9904 | €6,399 | €25,678 | +€19,279 | +301.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,399 | €25,678 | +€19,279 | +301.3% |
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 7 October 2026 via checked.be.