GloReno: 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.
GloReno
Largest movements
- Receivables within one year +€98,361
up €98,361 (+10.8%), from €908,936 to €1.0m
of which Other amounts receivable: +€123,522
- Tangible fixed assets +€57,888
up €57,888 (+29.0%), from €199,428 to €257,315
of which Furniture and vehicles: +€30,623
- Other debts +€153,729
up €153,729 (+17.5%), from €880,200 to €1.0m
- Debts after one year +€25,187
up €25,187 (+30.2%), from €83,275 to €108,462
- Profit (loss) carried forward -€20,003
new in 2025: -€20,003
- Tax, wage and social debts -€14,704
down €14,704 (-73.2%), from €20,078 to €5,373
of which Taxes: -€13,656
- Depreciation +€30,167
up €30,167 (+88.1%), from €34,236 to €64,404
- Gross operating margin +€5,553
up €5,553 (+7.7%), from €72,501 to €78,054
- Financial charges +€2,394
up €2,394 (+41.7%), from €5,741 to €8,136
- Taxes -€1,877
down €1,877 (-72.6%), from €2,585 to €708
- Staff costs +€831
up €831 (+3.7%), from €22,449 to €23,280
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 | €1,125,311 | €1,280,802 | +€155,492 | +13.8% |
| Fixed assets | 21/28 | €209,728 | €267,615 | +€57,888 | +27.6% |
| Tangible fixed assets | 22/27 | €199,428 | €257,315 | +€57,888 | +29.0% |
| Plant, machinery and equipment | 23 | €23,494 | €22,953 | -€542 | -2.3% |
| Furniture and vehicles | 24 | €7,875 | €38,498 | +€30,623 | +389% |
| Leasing and similar rights | 25 | €138,506 | €167,689 | +€29,183 | +21.1% |
| Other tangible fixed assets | 26 | €29,552 | €28,175 | -€1,377 | -4.7% |
| Financial fixed assets | 28 | €10,300 | €10,300 | = | 0.0% |
| Current assets | 29/58 | €915,583 | €1,013,187 | +€97,604 | +10.7% |
| Amounts receivable within one year | 40/41 | €908,936 | €1,007,297 | +€98,361 | +10.8% |
| Trade receivables | 40 | €36,850 | €11,689 | -€25,161 | -68.3% |
| Other amounts receivable | 41 | €872,085 | €995,607 | +€123,522 | +14.2% |
| Cash at bank and in hand | 54/58 | €6,254 | €5,503 | -€751 | -12.0% |
| Deferred charges and accrued income | 490/1 | €394 | €388 | -€6 | -1.6% |
| Total equity and liabilities | 10/49 | €1,125,311 | €1,280,802 | +€155,492 | +13.8% |
| Equity | 10/15 | €115,076 | €95,074 | -€20,003 | -17.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €96,476 | €96,476 | = | 0.0% |
| Distributable reserves | 133 | €96,476 | €96,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€20,003 | -€20,003 | |
| Amounts payable | 17/49 | €1,010,234 | €1,185,729 | +€175,494 | +17.4% |
| Amounts payable after more than one year | 17 | €83,275 | €108,462 | +€25,187 | +30.2% |
| Financial debts | 170/4 | €83,275 | €108,462 | +€25,187 | +30.2% |
| Amounts payable within one year | 42/48 | €926,960 | €1,077,267 | +€150,307 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €26,027 | €35,593 | +€9,565 | +36.8% |
| Trade debts | 44 | €654 | €2,371 | +€1,717 | +262% |
| Suppliers | 440/4 | €654 | €2,371 | +€1,717 | +262% |
| Taxes, remuneration and social security | 45 | €20,078 | €5,373 | -€14,704 | -73.2% |
| Taxes | 450/3 | €13,656 | - | -€13,656 | |
| Remuneration and social security | 454/9 | €6,422 | €5,373 | -€1,048 | -16.3% |
| Other amounts payable | 47/48 | €880,200 | €1,033,930 | +€153,729 | +17.5% |
| Non-recurring operating income | 76A | €31,900 | €48,740 | +€16,840 | +52.8% |
| Remuneration, social security and pensions | 62 | €22,449 | €23,280 | +€831 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,236 | €64,404 | +€30,167 | +88.1% |
| Other operating charges | 640/8 | €1,252 | €1,118 | -€134 | -10.7% |
| Non-recurring operating charges | 66A | €1,304 | €410 | -€894 | -68.5% |
| Gross operating margin | 9900 | €72,501 | €78,054 | +€5,553 | +7.7% |
| Operating profit (loss) | 9901 | €13,258 | -€11,159 | -€24,417 | |
| Financial charges | 65/66B | €5,741 | €8,136 | +€2,394 | +41.7% |
| Recurring financial charges | 65 | €5,741 | €8,136 | +€2,394 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €7,517 | -€19,295 | -€26,812 | |
| Income taxes | 67/77 | €2,585 | €708 | -€1,877 | -72.6% |
| Profit (loss) for the period | 9904 | €4,932 | -€20,003 | -€24,934 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,932 | -€20,003 | -€24,934 |
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.