GLOWON: 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.
GLOWON
Largest movements
- Receivables within one year -€6,410
down €6,410 (-75.5%), from €8,489 to €2,079
of which Trade receivables: -€3,740
- Tangible fixed assets -€6,376
no longer reported in 2025 (was €6,376)
- Cash -€4,138
no longer reported in 2025 (was €4,138)
mainly Net result for the year (-€16,891) and Tax, wage and social debts (-€1,582)
- Deferred charges and accrued income +€1,326
up €1,326 (+683.1%), from €194 to €1,520
- Profit (loss) carried forward -€16,891
down €16,891, from €15,048 to -€1,843
- Trade debts +€2,667
up €2,667 (+500.9%), from €533 to €3,200
- Tax, wage and social debts -€1,582
no longer reported in 2025 (was €1,582)
- Short-term financial debts +€242
new in 2025: €242
- Gross operating margin -€13,106
down €13,106, from €3,126 to -€9,979
- Depreciation -€2,599
no longer reported in 2025 (was €2,599)
- Other operating charges +€632
up €632 (+535.6%), from €118 to €750
- Financial income -€225
down €225 (-40.8%), from €551 to €326
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 | €19,197 | €3,599 | -€15,598 | -81.3% |
| Fixed assets | 21/28 | €6,376 | - | -€6,376 | |
| Tangible fixed assets | 22/27 | €6,376 | - | -€6,376 | |
| Plant, machinery and equipment | 23 | €6,376 | - | -€6,376 | |
| Current assets | 29/58 | €12,821 | €3,599 | -€9,222 | -71.9% |
| Amounts receivable within one year | 40/41 | €8,489 | €2,079 | -€6,410 | -75.5% |
| Trade receivables | 40 | €3,740 | - | -€3,740 | |
| Other amounts receivable | 41 | €4,749 | €2,079 | -€2,670 | -56.2% |
| Cash at bank and in hand | 54/58 | €4,138 | - | -€4,138 | |
| Deferred charges and accrued income | 490/1 | €194 | €1,520 | +€1,326 | +683.1% |
| Total equity and liabilities | 10/49 | €19,197 | €3,599 | -€15,598 | -81.3% |
| Equity | 10/15 | €17,048 | €157 | -€16,891 | -99.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,048 | -€1,843 | -€16,891 | |
| Amounts payable | 17/49 | €2,149 | €3,441 | +€1,292 | +60.1% |
| Amounts payable within one year | 42/48 | €2,149 | €3,441 | +€1,292 | +60.1% |
| Financial debts | 43 | - | €242 | +€242 | |
| Credit institutions | 430/8 | - | €242 | +€242 | |
| Trade debts | 44 | €533 | €3,200 | +€2,667 | +500.9% |
| Suppliers | 440/4 | €533 | €3,200 | +€2,667 | +500.9% |
| Taxes, remuneration and social security | 45 | €1,582 | - | -€1,582 | |
| Taxes | 450/3 | €1,582 | - | -€1,582 | |
| Other amounts payable | 47/48 | €34 | - | -€34 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,599 | - | -€2,599 | |
| Other operating charges | 640/8 | €118 | €750 | +€632 | +535.6% |
| Non-recurring operating charges | 66A | - | €6,376 | +€6,376 | |
| Gross operating margin | 9900 | €3,126 | -€9,979 | -€13,106 | |
| Operating profit (loss) | 9901 | €409 | -€17,105 | -€17,514 | |
| Financial income | 75/76B | €551 | €326 | -€225 | -40.8% |
| Recurring financial income | 75 | €551 | €326 | -€225 | -40.8% |
| Financial charges | 65/66B | €68 | €112 | +€44 | +65.3% |
| Recurring financial charges | 65 | €68 | €112 | +€44 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €892 | -€16,891 | -€17,783 | |
| Profit (loss) for the period | 9904 | €892 | -€16,891 | -€17,783 | |
| Profit (loss) for the period to be appropriated | 9905 | €892 | -€16,891 | -€17,783 |
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 11 October 2026 via checked.be.