GLOW: 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.
GLOW
Largest movements
- Cash -€4,031
down €4,031 (-91.1%), from €4,426 to €395
mainly Net result for the year (-€5,549) and Other debts (-€2,423)
- Tangible fixed assets -€2,276
down €2,276 (-43.3%), from €5,260 to €2,985
of which Furniture and vehicles: -€2,040
- Receivables within one year +€723
up €723 (+7.6%), from €9,470 to €10,193
- Profit (loss) carried forward -€5,549
down €5,549 (-35.3%), from -€15,725 to -€21,274
- Other debts -€2,423
down €2,423 (-20.5%), from €11,826 to €9,403
- Trade debts +€1,806
up €1,806 (+52.5%), from €3,441 to €5,247
- Tax, wage and social debts +€368
up €368 (+22.4%), from €1,639 to €2,007
- Gross operating margin +€11,466
up €11,466 (+85.7%), from -€13,381 to -€1,915
- Financial charges +€289
up €289 (+642.6%), from €45 to €334
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 | €19,781 | €13,983 | -€5,798 | -29.3% |
| Formation expenses | 20 | €86 | - | -€86 | |
| Fixed assets | 21/28 | €5,260 | €2,985 | -€2,276 | -43.3% |
| Tangible fixed assets | 22/27 | €5,260 | €2,985 | -€2,276 | -43.3% |
| Furniture and vehicles | 24 | €2,720 | €680 | -€2,040 | -75.0% |
| Other tangible fixed assets | 26 | €2,541 | €2,305 | -€236 | -9.3% |
| Current assets | 29/58 | €14,435 | €10,999 | -€3,436 | -23.8% |
| Amounts receivable within one year | 40/41 | €9,470 | €10,193 | +€723 | +7.6% |
| Trade receivables | 40 | €9,470 | €10,193 | +€723 | +7.6% |
| Cash at bank and in hand | 54/58 | €4,426 | €395 | -€4,031 | -91.1% |
| Deferred charges and accrued income | 490/1 | €539 | €411 | -€129 | -23.9% |
| Total equity and liabilities | 10/49 | €19,781 | €13,983 | -€5,798 | -29.3% |
| Equity | 10/15 | €2,875 | -€2,674 | -€5,549 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,725 | -€21,274 | -€5,549 | -35.3% |
| Amounts payable | 17/49 | €16,907 | €16,658 | -€249 | -1.5% |
| Amounts payable within one year | 42/48 | €16,907 | €16,658 | -€249 | -1.5% |
| Trade debts | 44 | €3,441 | €5,247 | +€1,806 | +52.5% |
| Suppliers | 440/4 | €3,441 | €5,247 | +€1,806 | +52.5% |
| Taxes, remuneration and social security | 45 | €1,639 | €2,007 | +€368 | +22.4% |
| Taxes | 450/3 | €1,639 | €2,007 | +€368 | +22.4% |
| Other amounts payable | 47/48 | €11,826 | €9,403 | -€2,423 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,443 | €2,362 | -€81 | -3.3% |
| Other operating charges | 640/8 | €828 | €795 | -€34 | -4.1% |
| Gross operating margin | 9900 | -€13,381 | -€1,915 | +€11,466 | +85.7% |
| Operating profit (loss) | 9901 | -€16,653 | -€5,072 | +€11,581 | +69.5% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.8% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.8% |
| Financial charges | 65/66B | €45 | €334 | +€289 | +642.6% |
| Recurring financial charges | 65 | €45 | €334 | +€289 | +642.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,697 | -€5,406 | +€11,291 | +67.6% |
| Income taxes | 67/77 | €135 | €143 | +€7 | +5.4% |
| Profit (loss) for the period | 9904 | -€16,832 | -€5,549 | +€11,284 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,832 | -€5,549 | +€11,284 | +67.0% |
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 11 October 2026 via checked.be.