Glorified Group: what changed
Glorified Group
Largest movements
- Receivables within one year -€467,150
down €467,150 (-93.9%), from €497,400 to €30,250
of which Other amounts receivable: -€497,400
- Financial fixed assets +€274,770
up €274,770 (+67.5%), from €407,098 to €681,868
- Cash -€197,522
down €197,522 (-96.8%), from €203,948 to €6,426
mainly Trade debts (-€293,321) and Investment in fixed assets (net) (-€274,353)
- Trade debts -€293,321
down €293,321 (-95.2%), from €308,250 to €14,929
- Profit (loss) carried forward -€186,613
down €186,613, from €35,275 to -€151,338
- Debts after one year +€67,200
up €67,200 (+33.7%), from €199,233 to €266,433
- Provisions +€20,000
new in 2025: €20,000
- Financial income -€463,562
down €463,562 (-91.5%), from €506,843 to €43,281
of which Non-recurring financial income: -€453,595
- Gross operating margin +€214,515
up €214,515 (+79.9%), from -€268,570 to -€54,055
- Purchases and services -€111,069
down €111,069 (-34.6%), from €320,570 to €209,501
- Financial charges -€106,129
down €106,129 (-83.4%), from €127,290 to €21,161
of which Financial charges: -€56,129
- Turnover +€98,000
up €98,000 (+188%), from €52,000 to €150,000
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,128,735 | €728,321 | -€400,414 | -35.5% |
| Formation expenses | 20 | €1,402 | - | -€1,402 | |
| Fixed assets | 21/28 | €410,051 | €683,480 | +€273,429 | +66.7% |
| Tangible fixed assets | 22/27 | €2,953 | €1,613 | -€1,341 | -45.4% |
| Furniture and vehicles | 24 | €2,953 | €1,613 | -€1,341 | -45.4% |
| Financial fixed assets | 28 | €407,098 | €681,868 | +€274,770 | +67.5% |
| Current assets | 29/58 | €717,282 | €44,841 | -€672,441 | -93.7% |
| Amounts receivable within one year | 40/41 | €497,400 | €30,250 | -€467,150 | -93.9% |
| Trade receivables | 40 | - | €30,250 | +€30,250 | |
| Other amounts receivable | 41 | €497,400 | - | -€497,400 | |
| Cash at bank and in hand | 54/58 | €203,948 | €6,426 | -€197,522 | -96.8% |
| Deferred charges and accrued income | 490/1 | €15,934 | €8,165 | -€7,769 | -48.8% |
| Total equity and liabilities | 10/49 | €1,128,735 | €728,321 | -€400,414 | -35.5% |
| Equity | 10/15 | €553,474 | €366,862 | -€186,613 | -33.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €18,200 | €18,200 | = | 0.0% |
| Distributable reserves | 133 | €18,200 | €18,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,275 | -€151,338 | -€186,613 | |
| Provisions and deferred taxes | 16 | - | €20,000 | +€20,000 | |
| Provisions for liabilities and charges | 160/5 | - | €20,000 | +€20,000 | |
| Other liabilities and charges | 164/5 | - | €20,000 | +€20,000 | |
| Amounts payable | 17/49 | €575,261 | €341,460 | -€233,801 | -40.6% |
| Amounts payable after more than one year | 17 | €199,233 | €266,433 | +€67,200 | +33.7% |
| Financial debts | 170/4 | €199,233 | €266,433 | +€67,200 | +33.7% |
| Amounts payable within one year | 42/48 | €376,027 | €75,027 | -€301,001 | -80.0% |
| Current portion of amounts payable after more than one year | 42 | €27,800 | €27,800 | +€0 | 0.0% |
| Trade debts | 44 | €308,250 | €14,929 | -€293,321 | -95.2% |
| Suppliers | 440/4 | €308,250 | €14,929 | -€293,321 | -95.2% |
| Taxes, remuneration and social security | 45 | €39,978 | €32,298 | -€7,680 | -19.2% |
| Taxes | 450/3 | €13,535 | €6,796 | -€6,739 | -49.8% |
| Remuneration and social security | 454/9 | €26,443 | €25,502 | -€941 | -3.6% |
| Turnover | 70 | €52,000 | €150,000 | +€98,000 | +188% |
| Goods, raw materials, services and sundry goods | 60/61 | €320,570 | €209,501 | -€111,069 | -34.6% |
| Remuneration, social security and pensions | 62 | €70,315 | €88,362 | +€18,047 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,035 | €2,326 | +€291 | +14.3% |
| Other operating charges | 640/8 | €1,080 | €34,905 | +€33,826 | +3,133% |
| Non-recurring operating charges | 66A | - | €28,084 | +€28,084 | |
| Gross operating margin | 9900 | -€268,570 | -€54,055 | +€214,515 | +79.9% |
| Operating profit (loss) | 9901 | -€342,000 | -€207,733 | +€134,267 | +39.3% |
| Financial income | 75/76B | €506,843 | €43,281 | -€463,562 | -91.5% |
| Recurring financial income | 75 | €10,000 | €33 | -€9,967 | -99.7% |
| Non-recurring financial income | 76B | €496,843 | €43,248 | -€453,595 | -91.3% |
| Financial charges | 65/66B | €127,290 | €21,161 | -€106,129 | -83.4% |
| Recurring financial charges | 65 | €77,290 | €21,161 | -€56,129 | -72.6% |
| Non-recurring financial charges | 66B | €50,000 | - | -€50,000 | |
| Profit (loss) for the period before taxes | 9903 | €37,553 | -€185,613 | -€223,166 | |
| Income taxes | 67/77 | €2,278 | €1,000 | -€1,278 | -56.1% |
| Profit (loss) for the period | 9904 | €35,275 | -€186,613 | -€221,887 | |
| Profit (loss) for the period to be appropriated | 9905 | €35,275 | -€186,613 | -€221,887 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.