Glory Box: what changed
Two fiscal 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.
Glory Box
Largest movements
- Tangible fixed assets -€93,885
down €93,885 (-61.2%), from €153,489 to €59,604
of which Other tangible fixed assets: -€69,735
- Receivables within one year +€24,033
up €24,033 (+68.4%), from €35,151 to €59,185
of which Trade receivables: +€22,711
- Receivables after one year -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Cash -€4,654
down €4,654 (-6.1%), from €76,065 to €71,411
mainly Contributions, distributions and other (-€240,000) and Receivables within one year (-€24,033)
- Reserves -€171,508
down €171,508 (-67.5%), from €254,096 to €82,588
- Other debts +€66,260
up €66,260 (+2061.4%), from €3,214 to €69,475
- Trade debts +€11,348
up €11,348 (+72.7%), from €15,602 to €26,950
- Gross operating margin +€118,459
up €118,459, from -€25,530 to €92,929
- Depreciation -€29,557
down €29,557 (-57.8%), from €51,102 to €21,545
- Other operating charges -€10,188
down €10,188 (-89.5%), from €11,385 to €1,197
- Financial charges -€8,709
down €8,709 (-95.4%), from €9,134 to €425
of which Non-recurring financial charges: -€7,764
- Financial income +€1,685
up €1,685 (+571.7%), from €295 to €1,980
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.
Cash bridge derived
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 | €294,729 | €200,813 | -€93,916 | -31.9% |
| Fixed assets | 21/28 | €153,989 | €60,120 | -€93,868 | -61.0% |
| Tangible fixed assets | 22/27 | €153,489 | €59,604 | -€93,885 | -61.2% |
| Plant, machinery and equipment | 23 | €12,368 | €0 | -€12,368 | -100.0% |
| Furniture and vehicles | 24 | €63,444 | €51,662 | -€11,782 | -18.6% |
| Other tangible fixed assets | 26 | €77,677 | €7,942 | -€69,735 | -89.8% |
| Financial fixed assets | 28 | €500 | €517 | +€17 | +3.3% |
| Current assets | 29/58 | €140,740 | €140,692 | -€48 | 0.0% |
| Amounts receivable after more than one year | 29 | €20,000 | €0 | -€20,000 | -100.0% |
| Other amounts receivable | 291 | €20,000 | €0 | -€20,000 | -100.0% |
| Stocks and contracts in progress | 3 | €3,500 | €3,500 | = | 0.0% |
| Stocks | 30/36 | €3,500 | €3,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €35,151 | €59,185 | +€24,033 | +68.4% |
| Trade receivables | 40 | €11,487 | €34,198 | +€22,711 | +197.7% |
| Other amounts receivable | 41 | €23,665 | €24,987 | +€1,322 | +5.6% |
| Current investments | 50/53 | €500 | €1,550 | +€1,050 | +210.0% |
| Cash at bank and in hand | 54/58 | €76,065 | €71,411 | -€4,654 | -6.1% |
| Deferred charges and accrued income | 490/1 | €5,524 | €5,046 | -€478 | -8.6% |
| Total equity and liabilities | 10/49 | €294,729 | €200,813 | -€93,916 | -31.9% |
| Equity | 10/15 | €274,096 | €102,588 | -€171,508 | -62.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €254,096 | €82,588 | -€171,508 | -67.5% |
| Distributable reserves | 133 | €254,096 | €82,588 | -€171,508 | -67.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €20,633 | €98,225 | +€77,591 | +376.0% |
| Amounts payable within one year | 42/48 | €20,617 | €98,225 | +€77,608 | +376.4% |
| Trade debts | 44 | €15,602 | €26,950 | +€11,348 | +72.7% |
| Suppliers | 440/4 | €15,602 | €26,950 | +€11,348 | +72.7% |
| Taxes, remuneration and social security | 45 | €1,800 | €1,800 | = | 0.0% |
| Taxes | 450/3 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €3,214 | €69,475 | +€66,260 | +2061.4% |
| Accrued charges and deferred income | 492/3 | €17 | €0 | -€17 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,102 | €21,545 | -€29,557 | -57.8% |
| Other operating charges | 640/8 | €11,385 | €1,197 | -€10,188 | -89.5% |
| Gross operating margin | 9900 | -€25,530 | €92,929 | +€118,459 | |
| Operating profit (loss) | 9901 | -€88,017 | €70,187 | +€158,205 | |
| Financial income | 75/76B | €295 | €1,980 | +€1,685 | +571.7% |
| Recurring financial income | 75 | €295 | €1,980 | +€1,685 | +571.7% |
| Financial charges | 65/66B | €9,134 | €425 | -€8,709 | -95.4% |
| Recurring financial charges | 65 | €1,370 | €425 | -€945 | -69.0% |
| Non-recurring financial charges | 66B | €7,764 | €0 | -€7,764 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€96,856 | €71,743 | +€168,599 | |
| Income taxes | 67/77 | €4,528 | €3,251 | -€1,277 | -28.2% |
| Profit (loss) for the period | 9904 | -€101,384 | €68,492 | +€169,876 | |
| Profit (loss) for the period to be appropriated | 9905 | -€101,384 | €68,492 | +€169,876 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.