Glow 21: 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 21
Largest movements
- Receivables within one year +€1,565
up €1,565 (+105%), from €1,494 to €3,059
of which Other amounts receivable: +€1,121
- Cash +€1,317
up €1,317 (+95.7%), from €1,375 to €2,692
mainly Other debts (+€6,915) and Trade debts (+€3,420)
- Deferred charges and accrued income +€1,144
up €1,144 (+1,351%), from €85 to €1,228
- Tangible fixed assets -€1,041
down €1,041 (-35.0%), from €2,979 to €1,937
- Profit (loss) carried forward -€8,210
down €8,210 (-66.7%), from -€12,308 to -€20,518
- Other debts +€6,915
up €6,915 (+56.4%), from €12,250 to €19,165
- Trade debts +€3,420
up €3,420 (+320%), from €1,068 to €4,488
- Tax, wage and social debts +€859
new in 2025: €859
of which Taxes: +€810
- Gross operating margin -€4,871
down €4,871 (-249%), from -€1,958 to -€6,830
- Taxes -€1,315
down €1,315, from €1,241 to -€74
- Financial charges -€888
down €888 (-98.6%), from €901 to €13
- Depreciation +€337
up €337 (+47.9%), from €704 to €1,041
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 | €6,009 | €8,994 | +€2,984 | +49.7% |
| Fixed assets | 21/28 | €3,055 | €2,014 | -€1,041 | -34.1% |
| Tangible fixed assets | 22/27 | €2,979 | €1,937 | -€1,041 | -35.0% |
| Furniture and vehicles | 24 | €2,979 | €1,937 | -€1,041 | -35.0% |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €2,954 | €6,980 | +€4,026 | +136% |
| Amounts receivable within one year | 40/41 | €1,494 | €3,059 | +€1,565 | +105% |
| Trade receivables | 40 | €740 | €1,184 | +€445 | +60.1% |
| Other amounts receivable | 41 | €754 | €1,875 | +€1,121 | +149% |
| Cash at bank and in hand | 54/58 | €1,375 | €2,692 | +€1,317 | +95.7% |
| Deferred charges and accrued income | 490/1 | €85 | €1,228 | +€1,144 | +1,351% |
| Total equity and liabilities | 10/49 | €6,009 | €8,994 | +€2,984 | +49.7% |
| Equity | 10/15 | -€7,308 | -€15,518 | -€8,210 | -112% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,308 | -€20,518 | -€8,210 | -66.7% |
| Amounts payable | 17/49 | €13,318 | €24,512 | +€11,194 | +84.1% |
| Amounts payable within one year | 42/48 | €13,318 | €24,512 | +€11,194 | +84.1% |
| Trade debts | 44 | €1,068 | €4,488 | +€3,420 | +320% |
| Suppliers | 440/4 | €1,068 | €4,488 | +€3,420 | +320% |
| Taxes, remuneration and social security | 45 | - | €859 | +€859 | |
| Taxes | 450/3 | - | €810 | +€810 | |
| Remuneration and social security | 454/9 | - | €49 | +€49 | |
| Other amounts payable | 47/48 | €12,250 | €19,165 | +€6,915 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €1,041 | +€337 | +47.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€1,958 | -€6,830 | -€4,871 | -249% |
| Operating profit (loss) | 9901 | -€3,050 | -€8,271 | -€5,221 | -171% |
| Financial charges | 65/66B | €901 | €13 | -€888 | -98.6% |
| Recurring financial charges | 65 | €901 | €13 | -€888 | -98.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,951 | -€8,284 | -€4,333 | -110% |
| Income taxes | 67/77 | €1,241 | -€74 | -€1,315 | |
| Profit (loss) for the period | 9904 | -€5,192 | -€8,210 | -€3,018 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,192 | -€8,210 | -€3,018 | -58.1% |
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 26 October 2026 via checked.be.