GLOSAR: 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.
GLOSAR
Largest movements
- Receivables within one year +€21,007
up €21,007 (+84.3%), from €24,931 to €45,937
of which Other amounts receivable: +€13,027
- Tangible fixed assets -€13,049
down €13,049 (-20.2%), from €64,733 to €51,684
of which Furniture and vehicles: -€10,394
- Cash -€11,564
down €11,564 (-21.1%), from €54,749 to €43,185
mainly Contributions, distributions and other (-€112,779) and Receivables within one year (-€21,007)
- Deferred charges and accrued income +€1,578
up €1,578 (+136%), from €1,159 to €2,737
- Profit (loss) carried forward -€67,725
no longer reported in 2025 (was €67,725)
- Other debts +€59,803
up €59,803 (+341%), from €17,522 to €77,325
- Trade debts +€15,686
up €15,686 (+89.6%), from €17,504 to €33,191
- Tax, wage and social debts -€10,853
down €10,853 (-59.8%), from €18,162 to €7,309
of which Taxes: -€12,577
- Gross operating margin -€13,491
down €13,491 (-10.1%), from €133,690 to €120,198
- Staff costs +€9,477
up €9,477 (+28.0%), from €33,855 to €43,332
- Taxes -€3,464
down €3,464 (-18.9%), from €18,347 to €14,883
- Depreciation +€2,836
up €2,836 (+22.2%), from €12,752 to €15,588
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 | €145,935 | €143,543 | -€2,391 | -1.6% |
| Fixed assets | 21/28 | €65,096 | €51,684 | -€13,412 | -20.6% |
| Tangible fixed assets | 22/27 | €64,733 | €51,684 | -€13,049 | -20.2% |
| Land and buildings | 22 | €12,978 | €11,074 | -€1,904 | -14.7% |
| Furniture and vehicles | 24 | €50,439 | €40,044 | -€10,394 | -20.6% |
| Other tangible fixed assets | 26 | €1,316 | €565 | -€751 | -57.0% |
| Financial fixed assets | 28 | €363 | - | -€363 | |
| Current assets | 29/58 | €80,839 | €91,859 | +€11,020 | +13.6% |
| Amounts receivable within one year | 40/41 | €24,931 | €45,937 | +€21,007 | +84.3% |
| Trade receivables | 40 | €22,688 | €30,668 | +€7,980 | +35.2% |
| Other amounts receivable | 41 | €2,242 | €15,269 | +€13,027 | +581% |
| Cash at bank and in hand | 54/58 | €54,749 | €43,185 | -€11,564 | -21.1% |
| Deferred charges and accrued income | 490/1 | €1,159 | €2,737 | +€1,578 | +136% |
| Total equity and liabilities | 10/49 | €145,935 | €143,543 | -€2,391 | -1.6% |
| Equity | 10/15 | €88,185 | €20,460 | -€67,725 | -76.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,725 | - | -€67,725 | |
| Amounts payable | 17/49 | €57,749 | €123,083 | +€65,334 | +113% |
| Amounts payable within one year | 42/48 | €56,549 | €122,134 | +€65,585 | +116% |
| Financial debts | 43 | - | €949 | +€949 | |
| Credit institutions | 430/8 | - | €949 | +€949 | |
| Trade debts | 44 | €17,504 | €33,191 | +€15,686 | +89.6% |
| Suppliers | 440/4 | €17,504 | €33,191 | +€15,686 | +89.6% |
| Advances received on contracts in progress | 46 | €3,361 | €3,361 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,162 | €7,309 | -€10,853 | -59.8% |
| Taxes | 450/3 | €14,677 | €2,101 | -€12,577 | -85.7% |
| Remuneration and social security | 454/9 | €3,485 | €5,208 | +€1,723 | +49.4% |
| Other amounts payable | 47/48 | €17,522 | €77,325 | +€59,803 | +341% |
| Accrued charges and deferred income | 492/3 | €1,200 | €949 | -€251 | -20.9% |
| Remuneration, social security and pensions | 62 | €33,855 | €43,332 | +€9,477 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,752 | €15,588 | +€2,836 | +22.2% |
| Other operating charges | 640/8 | €317 | €665 | +€348 | +110% |
| Non-recurring operating charges | 66A | €1,301 | - | -€1,301 | |
| Gross operating margin | 9900 | €133,690 | €120,198 | -€13,491 | -10.1% |
| Operating profit (loss) | 9901 | €85,465 | €60,614 | -€24,851 | -29.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €859 | €677 | -€182 | -21.2% |
| Recurring financial charges | 65 | €859 | €677 | -€182 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €84,606 | €59,937 | -€24,669 | -29.2% |
| Income taxes | 67/77 | €18,347 | €14,883 | -€3,464 | -18.9% |
| Profit (loss) for the period | 9904 | €66,259 | €45,054 | -€21,205 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,259 | €45,054 | -€21,205 | -32.0% |
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 27 October 2026 via checked.be.