GLOVIA: 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.
GLOVIA
Largest movements
- Receivables after one year -€550,000
down €550,000 (-100%), from €550,000 to €0
- Deferred charges and accrued income +€284,645
up €284,645 (+347%), from €82,107 to €366,752
- Cash -€278,627
down €278,627 (-85.4%), from €326,132 to €47,504
mainly Contributions, distributions and other (-€1.0m) and Deferred charges and accrued income (-€284,645)
- Contributions -€903,616
down €903,616 (-12.5%), from €7.2m to €6.3m
- Reserves +€462,357
up €462,357 (+60.1%), from €769,057 to €1.2m
of which Distributable reserves: +€462,357
- Other debts -€204,607
down €204,607 (-69.2%), from €295,552 to €90,944
- Gross operating margin +€196,948
up €196,948 (+244%), from €80,736 to €277,684
- Financial income -€131,477
down €131,477 (-18.5%), from €711,713 to €580,236
- Staff costs +€67,634
up €67,634 (+35.1%), from €192,759 to €260,393
- Other operating charges +€22,794
up €22,794 (+625%), from €3,644 to €26,438
- Financial charges +€6,576
up €6,576 (+882%), from €745 to €7,321
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 | €8,370,526 | €7,865,535 | -€504,991 | -6.0% |
| Fixed assets | 21/28 | €7,234,872 | €7,221,111 | -€13,762 | -0.2% |
| Tangible fixed assets | 22/27 | €6,372 | €11,111 | +€4,739 | +74.4% |
| Plant, machinery and equipment | 23 | €3,013 | €1,319 | -€1,694 | -56.2% |
| Furniture and vehicles | 24 | €3,359 | €9,792 | +€6,433 | +192% |
| Financial fixed assets | 28 | €7,228,500 | €7,210,000 | -€18,500 | -0.3% |
| Current assets | 29/58 | €1,135,653 | €644,424 | -€491,229 | -43.3% |
| Amounts receivable after more than one year | 29 | €550,000 | €0 | -€550,000 | -100% |
| Other amounts receivable | 291 | €550,000 | €0 | -€550,000 | -100% |
| Amounts receivable within one year | 40/41 | €177,414 | €230,168 | +€52,754 | +29.7% |
| Trade receivables | 40 | €7,926 | €0 | -€7,926 | -100% |
| Other amounts receivable | 41 | €169,488 | €230,168 | +€60,680 | +35.8% |
| Cash at bank and in hand | 54/58 | €326,132 | €47,504 | -€278,627 | -85.4% |
| Deferred charges and accrued income | 490/1 | €82,107 | €366,752 | +€284,645 | +347% |
| Total equity and liabilities | 10/49 | €8,370,526 | €7,865,535 | -€504,991 | -6.0% |
| Equity | 10/15 | €7,979,057 | €7,537,798 | -€441,258 | -5.5% |
| Contributions | 10/11 | €7,210,000 | €6,306,384 | -€903,616 | -12.5% |
| Reserves | 13 | €769,057 | €1,231,414 | +€462,357 | +60.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €769,057 | €1,231,414 | +€462,357 | +60.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €391,469 | €327,737 | -€63,732 | -16.3% |
| Amounts payable within one year | 42/48 | €391,271 | €326,116 | -€65,155 | -16.7% |
| Trade debts | 44 | €10,900 | €89,238 | +€78,338 | +719% |
| Suppliers | 440/4 | €10,900 | €89,238 | +€78,338 | +719% |
| Taxes, remuneration and social security | 45 | €84,820 | €145,934 | +€61,114 | +72.1% |
| Taxes | 450/3 | €55,572 | €106,161 | +€50,589 | +91.0% |
| Remuneration and social security | 454/9 | €29,248 | €39,773 | +€10,525 | +36.0% |
| Other amounts payable | 47/48 | €295,552 | €90,944 | -€204,607 | -69.2% |
| Accrued charges and deferred income | 492/3 | €198 | €1,621 | +€1,423 | +720% |
| Remuneration, social security and pensions | 62 | €192,759 | €260,393 | +€67,634 | +35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,953 | €3,785 | -€168 | -4.2% |
| Other operating charges | 640/8 | €3,644 | €26,438 | +€22,794 | +625% |
| Gross operating margin | 9900 | €80,736 | €277,684 | +€196,948 | +244% |
| Operating profit (loss) | 9901 | -€119,620 | -€12,932 | +€106,688 | +89.2% |
| Financial income | 75/76B | €711,713 | €580,236 | -€131,477 | -18.5% |
| Recurring financial income | 75 | €711,713 | €580,236 | -€131,477 | -18.5% |
| Financial charges | 65/66B | €745 | €7,321 | +€6,576 | +882% |
| Recurring financial charges | 65 | €745 | €7,321 | +€6,576 | +882% |
| Profit (loss) for the period before taxes | 9903 | €591,348 | €559,984 | -€31,364 | -5.3% |
| Income taxes | 67/77 | €245 | €1,242 | +€997 | +407% |
| Profit (loss) for the period | 9904 | €591,103 | €558,742 | -€32,361 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €591,103 | €558,742 | -€32,361 | -5.5% |
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 25 October 2026 via checked.be.