Glorieux Concept: 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.
Glorieux Concept
Largest movements
- Receivables after one year -€41,886
down €41,886 (-51.7%), from €81,000 to €39,114
- Receivables within one year -€35,876
down €35,876 (-89.9%), from €39,919 to €4,043
of which Trade receivables: -€38,620
- Cash -€26,221
down €26,221 (-60.7%), from €43,228 to €17,007
mainly Deferred charges and accrued income (-€20,024) and Contributions, distributions and other (-€20,000)
- Deferred charges and accrued income +€20,024
up €20,024 (+24,230%), from €83 to €20,107
- Profit (loss) carried forward -€38,083
down €38,083 (-39.4%), from €96,567 to €58,484
- Current portion of long-term debt -€16,569
down €16,569 (-82.9%), from €19,977 to €3,408
- Tax, wage and social debts -€12,807
down €12,807 (-57.5%), from €22,290 to €9,482
of which Remuneration and social security: -€10,542
- Other debts -€9,263
down €9,263 (-93.9%), from €9,865 to €602
- Short-term financial debts -€4,708
no longer reported in 2025 (was €4,708)
- Gross operating margin -€50,061
down €50,061, from €46,241 to -€3,820
- Other operating charges +€11,998
up €11,998 (+629%), from €1,909 to €13,906
- Taxes -€3,625
down €3,625 (-93.4%), from €3,882 to €257
- Depreciation -€2,421
down €2,421 (-77.2%), from €3,135 to €713
- Financial income -€1,949
down €1,949 (-55.5%), from €3,510 to €1,562
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 | €164,943 | €80,271 | -€84,672 | -51.3% |
| Fixed assets | 21/28 | €713 | - | -€713 | |
| Tangible fixed assets | 22/27 | €713 | - | -€713 | |
| Furniture and vehicles | 24 | €713 | - | -€713 | |
| Current assets | 29/58 | €164,230 | €80,271 | -€83,959 | -51.1% |
| Amounts receivable after more than one year | 29 | €81,000 | €39,114 | -€41,886 | -51.7% |
| Other amounts receivable | 291 | €81,000 | €39,114 | -€41,886 | -51.7% |
| Amounts receivable within one year | 40/41 | €39,919 | €4,043 | -€35,876 | -89.9% |
| Trade receivables | 40 | €39,919 | €1,299 | -€38,620 | -96.7% |
| Other amounts receivable | 41 | - | €2,744 | +€2,744 | |
| Cash at bank and in hand | 54/58 | €43,228 | €17,007 | -€26,221 | -60.7% |
| Deferred charges and accrued income | 490/1 | €83 | €20,107 | +€20,024 | +24,230% |
| Total equity and liabilities | 10/49 | €164,943 | €80,271 | -€84,672 | -51.3% |
| Equity | 10/15 | €101,567 | €63,484 | -€38,083 | -37.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,567 | €58,484 | -€38,083 | -39.4% |
| Amounts payable | 17/49 | €63,376 | €16,787 | -€46,589 | -73.5% |
| Amounts payable after more than one year | 17 | €3,408 | - | -€3,408 | |
| Financial debts | 170/4 | €3,408 | - | -€3,408 | |
| Amounts payable within one year | 42/48 | €59,907 | €16,787 | -€43,119 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €19,977 | €3,408 | -€16,569 | -82.9% |
| Financial debts | 43 | €4,708 | - | -€4,708 | |
| Credit institutions | 430/8 | €4,708 | - | -€4,708 | |
| Trade debts | 44 | €3,067 | €3,295 | +€227 | +7.4% |
| Suppliers | 440/4 | €3,067 | €3,295 | +€227 | +7.4% |
| Taxes, remuneration and social security | 45 | €22,290 | €9,482 | -€12,807 | -57.5% |
| Taxes | 450/3 | €11,748 | €9,482 | -€2,265 | -19.3% |
| Remuneration and social security | 454/9 | €10,542 | - | -€10,542 | |
| Other amounts payable | 47/48 | €9,865 | €602 | -€9,263 | -93.9% |
| Accrued charges and deferred income | 492/3 | €62 | - | -€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,135 | €713 | -€2,421 | -77.2% |
| Other operating charges | 640/8 | €1,909 | €13,906 | +€11,998 | +629% |
| Gross operating margin | 9900 | €46,241 | -€3,820 | -€50,061 | |
| Operating profit (loss) | 9901 | €41,198 | -€18,439 | -€59,637 | |
| Financial income | 75/76B | €3,510 | €1,562 | -€1,949 | -55.5% |
| Recurring financial income | 75 | €3,510 | €1,562 | -€1,949 | -55.5% |
| Financial charges | 65/66B | €1,653 | €949 | -€704 | -42.6% |
| Recurring financial charges | 65 | €1,653 | €949 | -€704 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €43,055 | -€17,827 | -€60,882 | |
| Income taxes | 67/77 | €3,882 | €257 | -€3,625 | -93.4% |
| Profit (loss) for the period | 9904 | €39,174 | -€18,083 | -€57,257 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,174 | -€18,083 | -€57,257 |
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 22 October 2026 via checked.be.