GLUKA: 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.
What changed
GLUKA
NACE 77.110, Renting and leasing of cars and light motor vehicles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€569,229
2024 · €134,965+€434,265
Equity
€3.0m
2024 · €2.6m+€469,229
Cash
€7,961
2024 · €15,819-€7,859
Balance sheet total
€3.8m
2024 · €3.8m-€4,250
Largest movements
Assets
- Tangible fixed assets +€49,247
up €49,247 (+2.8%), from €1.7m to €1.8m
of which Land and buildings: +€59,511
Equity and liabilities
- Debts after one year -€545,195
down €545,195 (-66.8%), from €815,785 to €270,590
- Reserves +€469,229
up €469,229 (+18.3%), from €2.6m to €3.0m
of which Distributable reserves: +€469,388
- Current portion of long-term debt +€48,039
up €48,039 (+50.5%), from €95,129 to €143,168
Income statement
- Financial income +€439,493
up €439,493 (+6,181,335%), from €7 to €439,500
- Gross operating margin +€83,176
up €83,176 (+22.0%), from €377,635 to €460,811
- Taxes +€55,777
up €55,777 (+86.0%), from €64,823 to €120,600
- Depreciation +€33,108
up €33,108 (+49.1%), from €67,363 to €100,471
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.
Result 2024
€134,965
Gross operating margin
+€83,176
Staff costs
-€2,752
Depreciation
-€33,108
Other operating charges
-€349
Financial income
+€439,493
Financial charges
+€3,582
Taxes
-€55,777
Result 2025
€569,229
raises the resultlowers the result
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.
From operations
+€739,015
Investment
-€149,718
Financing
-€597,157
Cash 2024
€15,819
From operations (derived)
+€739,015
Net result for the year
+€569,229
Depreciation
+€100,471
Stocks and contracts
+€11,550
Receivables within one year
+€33,271
Smaller working-capital items
+€859
Trade debts
-€37,029
Tax, wage and social debts
+€34,239
Other debts
+€26,426
Investment (derived)
-€149,718
Investment in fixed assets (net)
-€149,718
Financing
-€597,157
Debts after one year
-€545,195
Current portion of long-term debt
+€48,039
Contributions, distributions and other
-€100,000
Cash 2025
€7,961
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,809,837 | €3,805,587 | -€4,250 | -0.1% |
| Fixed assets | 21/28 | €3,719,456 | €3,768,704 | +€49,247 | +1.3% |
| Tangible fixed assets | 22/27 | €1,736,897 | €1,786,144 | +€49,247 | +2.8% |
| Land and buildings | 22 | €1,704,557 | €1,764,068 | +€59,511 | +3.5% |
| Plant, machinery and equipment | 23 | €10,614 | €9,139 | -€1,475 | -13.9% |
| Furniture and vehicles | 24 | €21,727 | €12,937 | -€8,789 | -40.5% |
| Financial fixed assets | 28 | €1,982,559 | €1,982,559 | = | 0.0% |
| Current assets | 29/58 | €90,380 | €36,884 | -€53,497 | -59.2% |
| Stocks and contracts in progress | 3 | €19,550 | €8,000 | -€11,550 | -59.1% |
| Stocks | 30/36 | €19,550 | €8,000 | -€11,550 | -59.1% |
| Amounts receivable within one year | 40/41 | €52,721 | €19,450 | -€33,271 | -63.1% |
| Trade receivables | 40 | €46,269 | €19,450 | -€26,819 | -58.0% |
| Other amounts receivable | 41 | €6,452 | €0 | -€6,452 | -100% |
| Cash at bank and in hand | 54/58 | €15,819 | €7,961 | -€7,859 | -49.7% |
| Deferred charges and accrued income | 490/1 | €2,290 | €1,473 | -€817 | -35.7% |
| Total equity and liabilities | 10/49 | €3,809,837 | €3,805,587 | -€4,250 | -0.1% |
| Equity | 10/15 | €2,568,453 | €3,037,682 | +€469,229 | +18.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,562,253 | €3,031,482 | +€469,229 | +18.3% |
| Tax-exempt reserves | 132 | €7,549 | €7,391 | -€158 | -2.1% |
| Distributable reserves | 133 | €2,554,703 | €3,024,091 | +€469,388 | +18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €2,517 | €2,464 | -€53 | -2.1% |
| Deferred taxes | 168 | €2,517 | €2,464 | -€53 | -2.1% |
| Amounts payable | 17/49 | €1,238,868 | €765,441 | -€473,426 | -38.2% |
| Amounts payable after more than one year | 17 | €815,785 | €270,590 | -€545,195 | -66.8% |
| Financial debts | 170/4 | €815,785 | €270,590 | -€545,195 | -66.8% |
| Amounts payable within one year | 42/48 | €413,177 | €484,851 | +€71,674 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €95,129 | €143,168 | +€48,039 | +50.5% |
| Trade debts | 44 | €195,845 | €158,816 | -€37,029 | -18.9% |
| Suppliers | 440/4 | €195,845 | €158,816 | -€37,029 | -18.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €39,810 | €74,049 | +€34,239 | +86.0% |
| Taxes | 450/3 | €26,900 | €60,684 | +€33,784 | +126% |
| Remuneration and social security | 454/9 | €12,910 | €13,364 | +€454 | +3.5% |
| Other amounts payable | 47/48 | €82,394 | €108,819 | +€26,426 | +32.1% |
| Accrued charges and deferred income | 492/3 | €9,905 | €10,000 | +€95 | +1.0% |
| Non-recurring operating income | 76A | - | €160 | +€160 | |
| Remuneration, social security and pensions | 62 | €80,737 | €83,489 | +€2,752 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,363 | €100,471 | +€33,108 | +49.1% |
| Other operating charges | 640/8 | €6,195 | €6,544 | +€349 | +5.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €377,635 | €460,811 | +€83,176 | +22.0% |
| Operating profit (loss) | 9901 | €223,340 | €270,307 | +€46,967 | +21.0% |
| Financial income | 75/76B | €7 | €439,500 | +€439,493 | +6,181,335% |
| Recurring financial income | 75 | €7 | €439,500 | +€439,493 | +6,181,335% |
| Financial charges | 65/66B | €23,612 | €20,031 | -€3,582 | -15.2% |
| Recurring financial charges | 65 | €23,612 | €20,031 | -€3,582 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €199,735 | €689,777 | +€490,042 | +245% |
| Transfer from deferred taxes | 780 | €53 | €53 | = | 0.0% |
| Income taxes | 67/77 | €64,823 | €120,600 | +€55,777 | +86.0% |
| Profit (loss) for the period | 9904 | €134,965 | €569,229 | +€434,265 | +322% |
| Transfer from tax-exempt reserves | 789 | €158 | €158 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €135,123 | €569,388 | +€434,265 | +321% |
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 24 October 2026 via checked.be.