GLT MANAGEMENT: 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.
GLT MANAGEMENT
Largest movements
- Tangible fixed assets -€15,248
down €15,248 (-23.4%), from €65,301 to €50,052
of which Furniture and vehicles: -€14,313
- Receivables within one year -€11,705
down €11,705 (-34.4%), from €33,997 to €22,292
of which Trade receivables: -€14,710
- Other debts -€13,815
down €13,815 (-50.9%), from €27,122 to €13,307
- Debts after one year -€10,949
down €10,949 (-31.1%), from €35,150 to €24,201
- Profit (loss) carried forward -€5,371
down €5,371 (-86.3%), from €6,226 to €855
- Trade debts +€2,313
up €2,313 (+46.0%), from €5,031 to €7,343
- Tax, wage and social debts -€1,476
down €1,476 (-12.7%), from €11,590 to €10,114
of which Remuneration and social security: -€1,760
- Other operating charges -€27,459
down €27,459 (-98.6%), from €27,859 to €400
- Gross operating margin -€14,017
down €14,017 (-48.7%), from €28,792 to €14,775
- Financial income -€6,607
down €6,607 (-100.0%), from €6,607 to €0
of which Non-recurring financial income: -€6,607
- Write-downs +€1,355
new in 2025: €1,355
- Depreciation +€948
up €948 (+6.6%), from €14,301 to €15,248
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 | €104,881 | €77,088 | -€27,794 | -26.5% |
| Fixed assets | 21/28 | €65,301 | €50,052 | -€15,248 | -23.4% |
| Tangible fixed assets | 22/27 | €65,301 | €50,052 | -€15,248 | -23.4% |
| Furniture and vehicles | 24 | €57,980 | €43,667 | -€14,313 | -24.7% |
| Other tangible fixed assets | 26 | €7,321 | €6,385 | -€936 | -12.8% |
| Current assets | 29/58 | €39,581 | €27,035 | -€12,545 | -31.7% |
| Amounts receivable within one year | 40/41 | €33,997 | €22,292 | -€11,705 | -34.4% |
| Trade receivables | 40 | €29,819 | €15,110 | -€14,710 | -49.3% |
| Other amounts receivable | 41 | €4,177 | €7,182 | +€3,005 | +71.9% |
| Cash at bank and in hand | 54/58 | €2,888 | €2,171 | -€717 | -24.8% |
| Deferred charges and accrued income | 490/1 | €2,696 | €2,572 | -€123 | -4.6% |
| Total equity and liabilities | 10/49 | €104,881 | €77,088 | -€27,794 | -26.5% |
| Equity | 10/15 | €15,451 | €10,080 | -€5,371 | -34.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €3,224 | €3,224 | = | 0.0% |
| Distributable reserves | 133 | €3,224 | €3,224 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,226 | €855 | -€5,371 | -86.3% |
| Amounts payable | 17/49 | €89,431 | €67,008 | -€22,423 | -25.1% |
| Amounts payable after more than one year | 17 | €35,150 | €24,201 | -€10,949 | -31.1% |
| Financial debts | 170/4 | €35,150 | €24,201 | -€10,949 | -31.1% |
| Amounts payable within one year | 42/48 | €54,280 | €41,713 | -€12,568 | -23.2% |
| Current portion of amounts payable after more than one year | 42 | €10,538 | €10,949 | +€411 | +3.9% |
| Trade debts | 44 | €5,031 | €7,343 | +€2,313 | +46.0% |
| Suppliers | 440/4 | €5,031 | €7,343 | +€2,313 | +46.0% |
| Taxes, remuneration and social security | 45 | €11,590 | €10,114 | -€1,476 | -12.7% |
| Taxes | 450/3 | €8,130 | €8,414 | +€284 | +3.5% |
| Remuneration and social security | 454/9 | €3,460 | €1,700 | -€1,760 | -50.9% |
| Other amounts payable | 47/48 | €27,122 | €13,307 | -€13,815 | -50.9% |
| Accrued charges and deferred income | 492/3 | - | €1,094 | +€1,094 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,301 | €15,248 | +€948 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,355 | +€1,355 | |
| Other operating charges | 640/8 | €27,859 | €400 | -€27,459 | -98.6% |
| Gross operating margin | 9900 | €28,792 | €14,775 | -€14,017 | -48.7% |
| Operating profit (loss) | 9901 | -€13,367 | -€2,228 | +€11,139 | +83.3% |
| Financial income | 75/76B | €6,607 | €0 | -€6,607 | -100.0% |
| Recurring financial income | 75 | €6,607 | €0 | -€6,607 | -100.0% |
| Non-recurring financial income | 76B | €6,607 | €0 | -€6,607 | -100% |
| Financial charges | 65/66B | €2,162 | €2,925 | +€763 | +35.3% |
| Recurring financial charges | 65 | €2,162 | €2,925 | +€763 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,922 | -€5,153 | +€3,769 | +42.2% |
| Income taxes | 67/77 | €347 | €218 | -€129 | -37.2% |
| Profit (loss) for the period | 9904 | -€9,269 | -€5,371 | +€3,898 | +42.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,269 | -€5,371 | +€3,898 | +42.1% |
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 23 October 2026 via checked.be.