GLORIA GIUISA: 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.
GLORIA GIUISA
Largest movements
- Tangible fixed assets -€69,376
down €69,376 (-13.8%), from €502,878 to €433,502
of which Plant, machinery and equipment: -€46,920
- Debts after one year -€43,095
down €43,095 (-15.5%), from €278,501 to €235,406
- Trade debts -€23,365
down €23,365 (-37.7%), from €62,043 to €38,678
of which Suppliers: -€18,795
- Other debts -€15,000
no longer reported in 2025 (was €15,000)
- Reserves +€10,000
up €10,000 (+13.0%), from €76,860 to €86,860
- Current portion of long-term debt -€8,986
down €8,986 (-13.7%), from €65,740 to €56,754
- Depreciation +€17,446
up €17,446 (+41.7%), from €41,829 to €59,276
- Gross operating margin -€12,475
down €12,475 (-2.9%), from €436,544 to €424,069
- Staff costs -€7,659
down €7,659 (-2.3%), from €329,262 to €321,603
- Taxes -€5,785
down €5,785 (-45.4%), from €12,731 to €6,946
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 | €645,163 | €572,156 | -€73,006 | -11.3% |
| Fixed assets | 21/28 | €505,978 | €436,602 | -€69,376 | -13.7% |
| Tangible fixed assets | 22/27 | €502,878 | €433,502 | -€69,376 | -13.8% |
| Land and buildings | 22 | €316,854 | €301,033 | -€15,821 | -5.0% |
| Plant, machinery and equipment | 23 | €168,492 | €121,573 | -€46,920 | -27.8% |
| Furniture and vehicles | 24 | €17,532 | €10,896 | -€6,635 | -37.8% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €139,185 | €135,554 | -€3,631 | -2.6% |
| Stocks and contracts in progress | 3 | €14,395 | €11,108 | -€3,287 | -22.8% |
| Stocks | 30/36 | €14,395 | €11,108 | -€3,287 | -22.8% |
| Amounts receivable within one year | 40/41 | €106,912 | €105,057 | -€1,854 | -1.7% |
| Trade receivables | 40 | - | €3,045 | +€3,045 | |
| Other amounts receivable | 41 | €106,912 | €102,012 | -€4,899 | -4.6% |
| Cash at bank and in hand | 54/58 | €17,879 | €19,390 | +€1,511 | +8.5% |
| Total equity and liabilities | 10/49 | €645,163 | €572,156 | -€73,006 | -11.3% |
| Equity | 10/15 | €211,398 | €221,398 | +€10,000 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,860 | €86,860 | +€10,000 | +13.0% |
| Non-distributable reserves | 130/1 | €76,860 | €86,860 | +€10,000 | +13.0% |
| Reserves not available under the articles | 1311 | €76,860 | €86,860 | +€10,000 | +13.0% |
| Profit (loss) carried forward | 14 | €115,938 | €115,938 | +€0 | 0.0% |
| Amounts payable | 17/49 | €433,765 | €350,759 | -€83,006 | -19.1% |
| Amounts payable after more than one year | 17 | €278,501 | €235,406 | -€43,095 | -15.5% |
| Financial debts | 170/4 | €278,501 | €235,406 | -€43,095 | -15.5% |
| Amounts payable within one year | 42/48 | €155,264 | €115,353 | -€39,911 | -25.7% |
| Current portion of amounts payable after more than one year | 42 | €65,740 | €56,754 | -€8,986 | -13.7% |
| Financial debts | 43 | €307 | €564 | +€257 | +84.0% |
| Credit institutions | 430/8 | €307 | €564 | +€257 | +84.0% |
| Trade debts | 44 | €62,043 | €38,678 | -€23,365 | -37.7% |
| Suppliers | 440/4 | €57,473 | €38,678 | -€18,795 | -32.7% |
| Bills of exchange payable | 441 | €4,570 | - | -€4,570 | |
| Taxes, remuneration and social security | 45 | €12,175 | €19,357 | +€7,182 | +59.0% |
| Taxes | 450/3 | €12,175 | €19,357 | +€7,182 | +59.0% |
| Other amounts payable | 47/48 | €15,000 | - | -€15,000 | |
| Non-recurring operating income | 76A | €1,902 | €2,321 | +€420 | +22.1% |
| Remuneration, social security and pensions | 62 | €329,262 | €321,603 | -€7,659 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,829 | €59,276 | +€17,446 | +41.7% |
| Other operating charges | 640/8 | €6,631 | €6,910 | +€279 | +4.2% |
| Gross operating margin | 9900 | €436,544 | €424,069 | -€12,475 | -2.9% |
| Operating profit (loss) | 9901 | €58,821 | €36,280 | -€22,541 | -38.3% |
| Financial income | 75/76B | €561 | €482 | -€79 | -14.1% |
| Recurring financial income | 75 | €561 | €482 | -€79 | -14.1% |
| Financial charges | 65/66B | €20,457 | €19,816 | -€642 | -3.1% |
| Recurring financial charges | 65 | €20,457 | €19,816 | -€642 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €38,925 | €16,946 | -€21,979 | -56.5% |
| Income taxes | 67/77 | €12,731 | €6,946 | -€5,785 | -45.4% |
| Profit (loss) for the period | 9904 | €26,194 | €10,000 | -€16,194 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,194 | €10,000 | -€16,194 | -61.8% |
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 25 October 2026 via checked.be.