GLS: what changed
Two fiscal 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.
GLS
Largest movements
- Cash +€17,590
up €17,590 (+24.0%), from €73,280 to €90,870
mainly Other debts (+€24,707) and Net result for the year (+€12,729)
- Receivables within one year -€5,204
down €5,204 (-54.0%), from €9,634 to €4,430
of which Trade receivables: -€3,177
- Deferred charges and accrued income -€1,919
down €1,919 (-46.2%), from €4,152 to €2,233
- Other debts +€24,707
up €24,707 (+2876.2%), from €859 to €25,566
- Accrued charges and deferred income -€9,809
down €9,809 (-98.1%), from €10,000 to €191
- Reserves -€9,413
down €9,413 (-9.5%), from €99,427 to €90,014
- Trade debts +€6,016
up €6,016 (+235.0%), from €2,559 to €8,575
- Gross operating margin +€2,243
up €2,243 (+9.6%), from €23,376 to €25,619
- Taxes +€683
up €683 (+6.2%), from €11,041 to €11,724
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 | €133,904 | €144,147 | +€10,244 | +7.7% |
| Fixed assets | 21/28 | €1,838 | €1,615 | -€223 | -12.1% |
| Tangible fixed assets | 22/27 | €1,838 | €1,615 | -€223 | -12.1% |
| Furniture and vehicles | 24 | €1,838 | €1,615 | -€223 | -12.1% |
| Current assets | 29/58 | €132,066 | €142,533 | +€10,467 | +7.9% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,634 | €4,430 | -€5,204 | -54.0% |
| Trade receivables | 40 | €4,431 | €1,254 | -€3,177 | -71.7% |
| Other amounts receivable | 41 | €5,203 | €3,175 | -€2,027 | -39.0% |
| Cash at bank and in hand | 54/58 | €73,280 | €90,870 | +€17,590 | +24.0% |
| Deferred charges and accrued income | 490/1 | €4,152 | €2,233 | -€1,919 | -46.2% |
| Total equity and liabilities | 10/49 | €133,904 | €144,147 | +€10,244 | +7.7% |
| Equity | 10/15 | €118,019 | €108,606 | -€9,413 | -8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €99,427 | €90,014 | -€9,413 | -9.5% |
| Distributable reserves | 133 | €99,427 | €90,014 | -€9,413 | -9.5% |
| Amounts payable | 17/49 | €15,885 | €35,541 | +€19,656 | +123.7% |
| Amounts payable within one year | 42/48 | €5,885 | €35,350 | +€29,465 | +500.7% |
| Trade debts | 44 | €2,559 | €8,575 | +€6,016 | +235.0% |
| Suppliers | 440/4 | €2,559 | €8,575 | +€6,016 | +235.0% |
| Taxes, remuneration and social security | 45 | €2,467 | €1,210 | -€1,257 | -51.0% |
| Taxes | 450/3 | €2,467 | €1,210 | -€1,257 | -51.0% |
| Other amounts payable | 47/48 | €859 | €25,566 | +€24,707 | +2876.2% |
| Accrued charges and deferred income | 492/3 | €10,000 | €191 | -€9,809 | -98.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,301 | €1,371 | +€70 | +5.4% |
| Other operating charges | 640/8 | €781 | €645 | -€136 | -17.4% |
| Non-recurring operating charges | 66A | €4 | - | -€4 | |
| Gross operating margin | 9900 | €23,376 | €25,619 | +€2,243 | +9.6% |
| Operating profit (loss) | 9901 | €21,289 | €23,602 | +€2,313 | +10.9% |
| Financial income | 75/76B | €1,286 | €1,172 | -€114 | -8.9% |
| Recurring financial income | 75 | €1,286 | €1,172 | -€114 | -8.9% |
| Financial charges | 65/66B | €189 | €322 | +€133 | +70.5% |
| Recurring financial charges | 65 | €189 | €322 | +€133 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €22,386 | €24,452 | +€2,066 | +9.2% |
| Income taxes | 67/77 | €11,041 | €11,724 | +€683 | +6.2% |
| Profit (loss) for the period | 9904 | €11,346 | €12,729 | +€1,383 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,346 | €12,729 | +€1,383 | +12.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.