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
- Tangible fixed assets +€30,867
up €30,867 (+4.4%), from €702,270 to €733,136
- Deferred charges and accrued income -€14,861
down €14,861 (-100%), from €14,861 to €0
- Cash -€9,949
down €9,949 (-35.3%), from €28,192 to €18,243
mainly Investment in fixed assets (net) (-€65,000) and Trade debts (-€29,997)
- Receivables within one year -€9,434
down €9,434 (-40.2%), from €23,454 to €14,020
of which Trade receivables: -€12,335
- Trade debts -€29,997
down €29,997 (-100%), from €29,997 to €0
- Reserves +€20,006
up €20,006 (+16.1%), from €124,111 to €144,118
- Depreciation +€9,599
up €9,599 (+39.1%), from €24,535 to €34,133
- Gross operating margin +€7,468
up €7,468 (+9.7%), from €77,094 to €84,562
- Financial charges +€1,779
up €1,779 (+16.1%), from €11,059 to €12,838
- Other operating charges -€864
down €864 (-10.4%), from €8,334 to €7,470
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 | €768,777 | €765,399 | -€3,378 | -0.4% |
| Fixed assets | 21/28 | €702,270 | €733,136 | +€30,867 | +4.4% |
| Tangible fixed assets | 22/27 | €702,270 | €733,136 | +€30,867 | +4.4% |
| Land and buildings | 22 | €702,270 | €733,136 | +€30,867 | +4.4% |
| Current assets | 29/58 | €66,507 | €32,263 | -€34,244 | -51.5% |
| Amounts receivable within one year | 40/41 | €23,454 | €14,020 | -€9,434 | -40.2% |
| Trade receivables | 40 | €13,685 | €1,349 | -€12,335 | -90.1% |
| Other amounts receivable | 41 | €9,770 | €12,670 | +€2,901 | +29.7% |
| Cash at bank and in hand | 54/58 | €28,192 | €18,243 | -€9,949 | -35.3% |
| Deferred charges and accrued income | 490/1 | €14,861 | €0 | -€14,861 | -100% |
| Total equity and liabilities | 10/49 | €768,777 | €765,399 | -€3,378 | -0.4% |
| Equity | 10/15 | €130,311 | €150,318 | +€20,006 | +15.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €124,111 | €144,118 | +€20,006 | +16.1% |
| Distributable reserves | 133 | €124,111 | €144,118 | +€20,006 | +16.1% |
| Amounts payable | 17/49 | €638,465 | €615,081 | -€23,384 | -3.7% |
| Amounts payable after more than one year | 17 | €384,461 | €390,192 | +€5,731 | +1.5% |
| Financial debts | 170/4 | €384,461 | €390,192 | +€5,731 | +1.5% |
| Amounts payable within one year | 42/48 | €254,004 | €224,889 | -€29,115 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €47,044 | €54,080 | +€7,037 | +15.0% |
| Financial debts | 43 | €5,076 | €2,360 | -€2,715 | -53.5% |
| Credit institutions | 430/8 | €5,076 | €2,360 | -€2,715 | -53.5% |
| Trade debts | 44 | €29,997 | €0 | -€29,997 | -100% |
| Suppliers | 440/4 | €29,997 | €0 | -€29,997 | -100% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €171,888 | €168,448 | -€3,440 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,535 | €34,133 | +€9,599 | +39.1% |
| Other operating charges | 640/8 | €8,334 | €7,470 | -€864 | -10.4% |
| Gross operating margin | 9900 | €77,094 | €84,562 | +€7,468 | +9.7% |
| Operating profit (loss) | 9901 | €44,225 | €42,958 | -€1,267 | -2.9% |
| Financial income | 75/76B | €24 | €0 | -€24 | -99.5% |
| Recurring financial income | 75 | €24 | €0 | -€24 | -99.5% |
| Financial charges | 65/66B | €11,059 | €12,838 | +€1,779 | +16.1% |
| Recurring financial charges | 65 | €11,059 | €12,838 | +€1,779 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €33,190 | €30,121 | -€3,069 | -9.2% |
| Income taxes | 67/77 | €10,269 | €10,114 | -€155 | -1.5% |
| Profit (loss) for the period | 9904 | €22,921 | €20,006 | -€2,915 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,921 | €20,006 | -€2,915 | -12.7% |
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 28 October 2026 via checked.be.