Glovan: 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.
Glovan
Largest movements
- Cash +€44,265
up €44,265 (+68.7%), from €64,395 to €108,659
mainly Net result for the year (+€138,404) and Other debts (+€87,100)
- Receivables within one year -€31,009
down €31,009 (-20.9%), from €148,722 to €117,712
of which Trade receivables: -€21,009
- Tangible fixed assets -€21,805
down €21,805 (-6.6%), from €330,869 to €309,065
of which Furniture and vehicles: -€17,607
- Reserves -€116,890
down €116,890 (-20.7%), from €564,932 to €448,042
of which Distributable reserves: -€116,890
- Other debts +€87,100
up €87,100 (+830.3%), from €10,490 to €97,590
- Tax, wage and social debts +€25,500
up €25,500 (+111.6%), from €22,855 to €48,355
of which Taxes: +€25,017
- Gross operating margin +€7,394
up €7,394 (+3.8%), from €196,379 to €203,772
- Financial charges -€5,745
down €5,745 (-97.0%), from €5,924 to €179
- Financial income +€5,321
up €5,321 (+74.8%), from €7,109 to €12,430
- Taxes -€2,477
down €2,477 (-6.4%), from €38,549 to €36,071
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 | €634,928 | €627,610 | -€7,318 | -1.2% |
| Fixed assets | 21/28 | €340,869 | €319,065 | -€21,805 | -6.4% |
| Tangible fixed assets | 22/27 | €330,869 | €309,065 | -€21,805 | -6.6% |
| Land and buildings | 22 | €246,222 | €238,527 | -€7,695 | -3.1% |
| Plant, machinery and equipment | 23 | €2,046 | €1,744 | -€302 | -14.8% |
| Furniture and vehicles | 24 | €82,601 | €64,994 | -€17,607 | -21.3% |
| Other tangible fixed assets | 26 | - | €3,800 | +€3,800 | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €294,059 | €308,546 | +€14,486 | +4.9% |
| Amounts receivable within one year | 40/41 | €148,722 | €117,712 | -€31,009 | -20.9% |
| Trade receivables | 40 | €138,722 | €117,712 | -€21,009 | -15.1% |
| Other amounts receivable | 41 | €10,000 | €0 | -€10,000 | -100.0% |
| Current investments | 50/53 | €78,453 | €78,453 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €64,395 | €108,659 | +€44,265 | +68.7% |
| Deferred charges and accrued income | 490/1 | €2,490 | €3,721 | +€1,231 | +49.4% |
| Total equity and liabilities | 10/49 | €634,928 | €627,610 | -€7,318 | -1.2% |
| Equity | 10/15 | €583,482 | €466,592 | -€116,890 | -20.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €564,932 | €448,042 | -€116,890 | -20.7% |
| Tax-exempt reserves | 132 | €29,784 | €29,784 | = | 0.0% |
| Distributable reserves | 133 | €535,148 | €418,258 | -€116,890 | -21.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,447 | €161,018 | +€109,572 | +213.0% |
| Amounts payable within one year | 42/48 | €43,832 | €158,518 | +€114,686 | +261.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €13 | €207 | +€194 | +1501.1% |
| Credit institutions | 430/8 | €13 | €207 | +€194 | +1501.1% |
| Trade debts | 44 | €10,473 | €12,365 | +€1,892 | +18.1% |
| Suppliers | 440/4 | €10,473 | €12,365 | +€1,892 | +18.1% |
| Taxes, remuneration and social security | 45 | €22,855 | €48,355 | +€25,500 | +111.6% |
| Taxes | 450/3 | €18,317 | €43,334 | +€25,017 | +136.6% |
| Remuneration and social security | 454/9 | €4,538 | €5,022 | +€484 | +10.7% |
| Other amounts payable | 47/48 | €10,490 | €97,590 | +€87,100 | +830.3% |
| Accrued charges and deferred income | 492/3 | €7,615 | €2,500 | -€5,115 | -67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,047 | €39,937 | +€890 | +2.3% |
| Other operating charges | 640/8 | €1,223 | €1,611 | +€388 | +31.7% |
| Gross operating margin | 9900 | €196,379 | €203,772 | +€7,394 | +3.8% |
| Operating profit (loss) | 9901 | €156,109 | €162,224 | +€6,115 | +3.9% |
| Financial income | 75/76B | €7,109 | €12,430 | +€5,321 | +74.8% |
| Recurring financial income | 75 | €7,109 | €12,430 | +€5,321 | +74.8% |
| Financial charges | 65/66B | €5,924 | €179 | -€5,745 | -97.0% |
| Recurring financial charges | 65 | €5,924 | €179 | -€5,745 | -97.0% |
| Profit (loss) for the period before taxes | 9903 | €157,294 | €174,476 | +€17,181 | +10.9% |
| Income taxes | 67/77 | €38,549 | €36,071 | -€2,477 | -6.4% |
| Profit (loss) for the period | 9904 | €118,746 | €138,404 | +€19,659 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €118,746 | €138,404 | +€19,659 | +16.6% |
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 10 October 2026 via checked.be.