Glotnor: 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.
Glotnor
Largest movements
- Receivables within one year -€113,239
down €113,239 (-93.6%), from €121,000 to €7,761
of which Trade receivables: -€121,000
- Cash +€63,965
up €63,965 (+296%), from €21,638 to €85,603
mainly Receivables within one year (+€113,239) and Receivables after one year (+€19,000)
- Tangible fixed assets +€29,891
up €29,891 (+86.1%), from €34,717 to €64,608
of which Furniture and vehicles: +€30,015
- Receivables after one year -€19,000
down €19,000 (-100%), from €19,000 to €0
of which Trade receivables: -€19,000
- Other debts -€31,912
down €31,912 (-94.4%), from €33,797 to €1,885
- Tax, wage and social debts -€13,968
down €13,968 (-77.5%), from €18,031 to €4,063
of which Taxes: -€16,455
- Reserves +€8,000
up €8,000 (+5.0%), from €161,116 to €169,115
- Gross operating margin -€52,593
down €52,593 (-66.4%), from €79,171 to €26,578
- Taxes -€18,163
down €18,163 (-84.9%), from €21,403 to €3,241
- Depreciation +€2,952
up €2,952 (+24.8%), from €11,887 to €14,840
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 | €233,700 | €195,212 | -€38,488 | -16.5% |
| Fixed assets | 21/28 | €35,242 | €65,133 | +€29,891 | +84.8% |
| Tangible fixed assets | 22/27 | €34,717 | €64,608 | +€29,891 | +86.1% |
| Plant, machinery and equipment | 23 | €340 | €216 | -€124 | -36.5% |
| Furniture and vehicles | 24 | €34,378 | €64,392 | +€30,015 | +87.3% |
| Financial fixed assets | 28 | €525 | €525 | = | 0.0% |
| Current assets | 29/58 | €198,458 | €130,079 | -€68,379 | -34.5% |
| Amounts receivable after more than one year | 29 | €19,000 | €0 | -€19,000 | -100% |
| Trade receivables | 290 | €19,000 | €0 | -€19,000 | -100% |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €121,000 | €7,761 | -€113,239 | -93.6% |
| Trade receivables | 40 | €121,000 | €0 | -€121,000 | -100% |
| Other amounts receivable | 41 | - | €7,761 | +€7,761 | |
| Current investments | 50/53 | €36,254 | €35,002 | -€1,252 | -3.5% |
| Cash at bank and in hand | 54/58 | €21,638 | €85,603 | +€63,965 | +296% |
| Deferred charges and accrued income | 490/1 | €566 | €1,712 | +€1,147 | +203% |
| Total equity and liabilities | 10/49 | €233,700 | €195,212 | -€38,488 | -16.5% |
| Equity | 10/15 | €181,116 | €189,115 | +€8,000 | +4.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €161,116 | €169,115 | +€8,000 | +5.0% |
| Distributable reserves | 133 | €161,116 | €169,115 | +€8,000 | +5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,584 | €6,097 | -€46,487 | -88.4% |
| Amounts payable within one year | 42/48 | €52,277 | €6,007 | -€46,270 | -88.5% |
| Trade debts | 44 | €450 | €59 | -€391 | -86.9% |
| Suppliers | 440/4 | €450 | €59 | -€391 | -86.9% |
| Taxes, remuneration and social security | 45 | €18,031 | €4,063 | -€13,968 | -77.5% |
| Taxes | 450/3 | €18,031 | €1,576 | -€16,455 | -91.3% |
| Remuneration and social security | 454/9 | - | €2,487 | +€2,487 | |
| Other amounts payable | 47/48 | €33,797 | €1,885 | -€31,912 | -94.4% |
| Accrued charges and deferred income | 492/3 | €307 | €90 | -€217 | -70.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,887 | €14,840 | +€2,952 | +24.8% |
| Other operating charges | 640/8 | €1,057 | €357 | -€700 | -66.3% |
| Gross operating margin | 9900 | €79,171 | €26,578 | -€52,593 | -66.4% |
| Operating profit (loss) | 9901 | €66,227 | €11,382 | -€54,846 | -82.8% |
| Financial income | 75/76B | €536 | €7 | -€529 | -98.6% |
| Recurring financial income | 75 | €536 | €7 | -€529 | -98.6% |
| Financial charges | 65/66B | €361 | €149 | -€213 | -58.8% |
| Recurring financial charges | 65 | €361 | €149 | -€213 | -58.8% |
| Profit (loss) for the period before taxes | 9903 | €66,402 | €11,240 | -€55,162 | -83.1% |
| Income taxes | 67/77 | €21,403 | €3,241 | -€18,163 | -84.9% |
| Profit (loss) for the period | 9904 | €44,999 | €8,000 | -€36,999 | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,999 | €8,000 | -€36,999 | -82.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.