GLR GROUP: 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.
GLR GROUP
Largest movements
- Financial fixed assets -€3.6m
down €3.6m (-42.2%), from €8.6m to €5.0m
- Tangible fixed assets -€649,132
down €649,132 (-99.4%), from €653,271 to €4,139
of which Land and buildings: -€653,271
- Cash +€460,200
up €460,200 (+227%), from €203,113 to €663,313
mainly Investment in fixed assets (net) (+€4.3m) and Depreciation (+€687)
- Reserves -€2.7m
down €2.7m (-97.7%), from €2.8m to €62,613
- Debts after one year -€678,163
down €678,163 (-99.4%), from €682,164 to €4,001
of which Financial debts: -€554,718
- Financial charges +€3.6m
up €3.6m (+21,037%), from €17,177 to €3.6m
of which Non-recurring financial charges: +€3.6m
- Gross operating margin -€445,167
down €445,167 (-34.9%), from €1.3m to €829,687
- Financial income +€80,000
up €80,000 (+400%), from €20,000 to €100,000
- Depreciation -€72,437
down €72,437 (-99.1%), from €73,124 to €687
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 | €12,643,640 | €9,028,363 | -€3.6m | -28.6% |
| Fixed assets | 21/28 | €9,243,871 | €4,973,339 | -€4.3m | -46.2% |
| Tangible fixed assets | 22/27 | €653,271 | €4,139 | -€649,132 | -99.4% |
| Land and buildings | 22 | €653,271 | - | -€653,271 | |
| Furniture and vehicles | 24 | - | €4,139 | +€4,139 | |
| Financial fixed assets | 28 | €8,590,600 | €4,969,200 | -€3.6m | -42.2% |
| Current assets | 29/58 | €3,399,768 | €4,055,024 | +€655,255 | +19.3% |
| Amounts receivable after more than one year | 29 | €312,791 | €418,056 | +€105,265 | +33.7% |
| Other amounts receivable | 291 | €312,791 | €418,056 | +€105,265 | +33.7% |
| Amounts receivable within one year | 40/41 | €2,881,293 | €2,971,016 | +€89,723 | +3.1% |
| Trade receivables | 40 | €1,617,106 | €1,719,132 | +€102,026 | +6.3% |
| Other amounts receivable | 41 | €1,264,187 | €1,251,884 | -€12,303 | -1.0% |
| Cash at bank and in hand | 54/58 | €203,113 | €663,313 | +€460,200 | +227% |
| Deferred charges and accrued income | 490/1 | €2,572 | €2,639 | +€67 | +2.6% |
| Total equity and liabilities | 10/49 | €12,643,640 | €9,028,363 | -€3.6m | -28.6% |
| Equity | 10/15 | €11,717,420 | €8,999,265 | -€2.7m | -23.2% |
| Contributions | 10/11 | €8,936,652 | €8,936,652 | = | 0.0% |
| Reserves | 13 | €2,780,768 | €62,613 | -€2.7m | -97.7% |
| Distributable reserves | 133 | €2,780,768 | €62,613 | -€2.7m | -97.7% |
| Amounts payable | 17/49 | €926,220 | €29,098 | -€897,122 | -96.9% |
| Amounts payable after more than one year | 17 | €682,164 | €4,001 | -€678,163 | -99.4% |
| Financial debts | 170/4 | €554,718 | - | -€554,718 | |
| Other amounts payable | 178/9 | €127,446 | €4,001 | -€123,445 | -96.9% |
| Amounts payable within one year | 42/48 | €244,056 | €25,097 | -€218,959 | -89.7% |
| Current portion of amounts payable after more than one year | 42 | €98,066 | - | -€98,066 | |
| Financial debts | 43 | €6,561 | - | -€6,561 | |
| Credit institutions | 430/8 | €6,561 | - | -€6,561 | |
| Trade debts | 44 | €88,236 | €12,632 | -€75,604 | -85.7% |
| Suppliers | 440/4 | €88,236 | €12,632 | -€75,604 | -85.7% |
| Taxes, remuneration and social security | 45 | €51,193 | €12,465 | -€38,728 | -75.7% |
| Taxes | 450/3 | €51,193 | €12,465 | -€38,728 | -75.7% |
| Non-recurring operating income | 76A | €1,285,176 | €846,895 | -€438,281 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,124 | €687 | -€72,437 | -99.1% |
| Other operating charges | 640/8 | €10,083 | €7,202 | -€2,881 | -28.6% |
| Non-recurring operating charges | 66A | €72,802 | €7,779 | -€65,023 | -89.3% |
| Gross operating margin | 9900 | €1,274,854 | €829,687 | -€445,167 | -34.9% |
| Operating profit (loss) | 9901 | €1,118,845 | €814,018 | -€304,827 | -27.2% |
| Financial income | 75/76B | €20,000 | €100,000 | +€80,000 | +400% |
| Recurring financial income | 75 | €20,000 | €100,000 | +€80,000 | +400% |
| Financial charges | 65/66B | €17,177 | €3,630,824 | +€3.6m | +21,037% |
| Recurring financial charges | 65 | €17,177 | €9,424 | -€7,753 | -45.1% |
| Non-recurring financial charges | 66B | - | €3,621,400 | +€3.6m | |
| Profit (loss) for the period before taxes | 9903 | €1,121,667 | -€2,716,806 | -€3.8m | |
| Income taxes | 67/77 | €1,452 | €1,349 | -€104 | -7.1% |
| Profit (loss) for the period | 9904 | €1,120,215 | -€2,718,155 | -€3.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,120,215 | -€2,718,155 | -€3.8m |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.