Glorius: 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.
Glorius
Largest movements
- Cash -€170,148
down €170,148 (-70.2%), from €242,409 to €72,261
mainly Trade debts (-€175,443) and Net result for the year (-€117,424)
- Receivables within one year -€166,124
down €166,124 (-62.1%), from €267,682 to €101,557
of which Trade receivables: -€151,482
- Stocks and contracts -€37,096
down €37,096 (-5.8%), from €643,192 to €606,096
- Tangible fixed assets -€17,297
down €17,297 (-15.0%), from €115,563 to €98,265
of which Furniture and vehicles: -€9,669
- Trade debts -€175,443
down €175,443 (-26.8%), from €654,233 to €478,790
- Reserves -€117,424
down €117,424 (-96.3%), from €121,922 to €4,498
- Debts after one year -€90,190
down €90,190 (-27.8%), from €324,300 to €234,110
- Tax, wage and social debts -€14,796
down €14,796 (-44.4%), from €33,343 to €18,547
of which Taxes: -€14,685
- Gross operating margin -€194,635
down €194,635, from €102,775 to -€91,860
- Taxes -€18,553
down €18,553 (-100%), from €18,553 to €0
- Depreciation +€9,765
up €9,765 (+83.4%), from €11,703 to €21,467
- Other operating charges +€2,273
up €2,273 (+330%), from €690 to €2,963
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 | €1,273,445 | €879,834 | -€393,612 | -30.9% |
| Formation expenses | 20 | €3,403 | €233 | -€3,170 | -93.2% |
| Fixed assets | 21/28 | €115,563 | €98,265 | -€17,297 | -15.0% |
| Tangible fixed assets | 22/27 | €115,563 | €98,265 | -€17,297 | -15.0% |
| Plant, machinery and equipment | 23 | €67,931 | €60,303 | -€7,628 | -11.2% |
| Furniture and vehicles | 24 | €47,632 | €37,962 | -€9,669 | -20.3% |
| Current assets | 29/58 | €1,154,480 | €781,336 | -€373,144 | -32.3% |
| Stocks and contracts in progress | 3 | €643,192 | €606,096 | -€37,096 | -5.8% |
| Stocks | 30/36 | €643,192 | €606,096 | -€37,096 | -5.8% |
| Amounts receivable within one year | 40/41 | €267,682 | €101,557 | -€166,124 | -62.1% |
| Trade receivables | 40 | €236,440 | €84,958 | -€151,482 | -64.1% |
| Other amounts receivable | 41 | €31,241 | €16,599 | -€14,642 | -46.9% |
| Cash at bank and in hand | 54/58 | €242,409 | €72,261 | -€170,148 | -70.2% |
| Deferred charges and accrued income | 490/1 | €1,198 | €1,421 | +€224 | +18.7% |
| Total equity and liabilities | 10/49 | €1,273,445 | €879,834 | -€393,612 | -30.9% |
| Equity | 10/15 | €131,922 | €14,498 | -€117,424 | -89.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €121,922 | €4,498 | -€117,424 | -96.3% |
| Distributable reserves | 133 | €121,922 | €4,498 | -€117,424 | -96.3% |
| Amounts payable | 17/49 | €1,141,523 | €865,336 | -€276,188 | -24.2% |
| Amounts payable after more than one year | 17 | €324,300 | €234,110 | -€90,190 | -27.8% |
| Financial debts | 170/4 | €324,300 | €234,110 | -€90,190 | -27.8% |
| Amounts payable within one year | 42/48 | €817,223 | €631,226 | -€185,997 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €120,000 | €129,668 | +€9,668 | +8.1% |
| Trade debts | 44 | €654,233 | €478,790 | -€175,443 | -26.8% |
| Suppliers | 440/4 | €654,233 | €478,790 | -€175,443 | -26.8% |
| Taxes, remuneration and social security | 45 | €33,343 | €18,547 | -€14,796 | -44.4% |
| Taxes | 450/3 | €33,232 | €18,547 | -€14,685 | -44.2% |
| Remuneration and social security | 454/9 | €111 | €0 | -€111 | -100% |
| Other amounts payable | 47/48 | €9,647 | €4,221 | -€5,426 | -56.2% |
| Remuneration, social security and pensions | 62 | - | €645 | +€645 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,703 | €21,467 | +€9,765 | +83.4% |
| Other operating charges | 640/8 | €690 | €2,963 | +€2,273 | +330% |
| Gross operating margin | 9900 | €102,775 | -€91,860 | -€194,635 | |
| Operating profit (loss) | 9901 | €90,383 | -€116,936 | -€207,319 | |
| Financial income | 75/76B | €532 | €955 | +€424 | +79.7% |
| Recurring financial income | 75 | €532 | €955 | +€424 | +79.7% |
| Financial charges | 65/66B | €2,075 | €1,444 | -€631 | -30.4% |
| Recurring financial charges | 65 | €2,075 | €1,444 | -€631 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €88,840 | -€117,424 | -€206,264 | |
| Income taxes | 67/77 | €18,553 | €0 | -€18,553 | -100% |
| Profit (loss) for the period | 9904 | €70,287 | -€117,424 | -€187,711 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,287 | -€117,424 | -€187,711 |
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 19 October 2026 via checked.be.