GLUON: 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.
GLUON
Largest movements
- Receivables within one year -€518,536
down €518,536 (-30.3%), from €1.7m to €1.2m
of which Other amounts receivable: -€528,675
- Financial fixed assets -€128,000
down €128,000 (-99.6%), from €128,506 to €506
- Cash +€56,481
up €56,481 (+7.6%), from €743,272 to €799,753
mainly Receivables within one year (+€518,536) and Investment in fixed assets (net) (+€116,119)
- Accrued charges and deferred income -€654,805
down €654,805 (-39.3%), from €1.7m to €1.0m
- Debts within one year +€56,096
up €56,096 (+36.6%), from €153,418 to €209,514
of which Advances received: +€140,465
- Gross operating margin -€258,263
down €258,263 (-36.5%), from €707,772 to €449,509
- Staff costs -€86,333
down €86,333 (-18.5%), from €466,735 to €380,402
- Financial charges +€28,096
up €28,096 (+6663.7%), from €422 to €28,517
- Other operating charges +€18,689
up €18,689 (+937.6%), from €1,993 to €20,683
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 | €2,653,987 | €2,060,839 | -€593,148 | -22.3% |
| Fixed assets | 21/28 | €198,546 | €68,065 | -€130,481 | -65.7% |
| Tangible fixed assets | 22/27 | €70,041 | €67,559 | -€2,481 | -3.5% |
| Plant, machinery and equipment | 23 | €1,554 | €1,176 | -€379 | -24.4% |
| Furniture and vehicles | 24 | €25,903 | €21,839 | -€4,064 | -15.7% |
| Other tangible fixed assets | 26 | €42,584 | €44,545 | +€1,961 | +4.6% |
| Financial fixed assets | 28 | €128,506 | €506 | -€128,000 | -99.6% |
| Current assets | 29/58 | €2,455,440 | €1,992,773 | -€462,667 | -18.8% |
| Amounts receivable within one year | 40/41 | €1,711,556 | €1,193,020 | -€518,536 | -30.3% |
| Trade receivables | 40 | €4,839 | €14,977 | +€10,139 | +209.5% |
| Other amounts receivable | 41 | €1,706,717 | €1,178,043 | -€528,675 | -31.0% |
| Cash at bank and in hand | 54/58 | €743,272 | €799,753 | +€56,481 | +7.6% |
| Deferred charges and accrued income | 490/1 | €612 | - | -€612 | |
| Total equity and liabilities | 10/49 | €2,653,987 | €2,060,839 | -€593,148 | -22.3% |
| Equity | 10/15 | €835,480 | €841,041 | +€5,561 | +0.7% |
| Profit (loss) carried forward | 14 | €835,480 | €841,041 | +€5,561 | +0.7% |
| Amounts payable | 17/49 | €1,818,507 | €1,219,798 | -€598,709 | -32.9% |
| Amounts payable within one year | 42/48 | €153,418 | €209,514 | +€56,096 | +36.6% |
| Trade debts | 44 | €34,426 | €18,223 | -€16,203 | -47.1% |
| Suppliers | 440/4 | €34,426 | €18,223 | -€16,203 | -47.1% |
| Advances received on contracts in progress | 46 | - | €140,465 | +€140,465 | |
| Taxes, remuneration and social security | 45 | €51,751 | €50,196 | -€1,555 | -3.0% |
| Taxes | 450/3 | €10,285 | €13,102 | +€2,817 | +27.4% |
| Remuneration and social security | 454/9 | €41,466 | €37,094 | -€4,372 | -10.5% |
| Accrued charges and deferred income | 492/3 | €1,665,089 | €1,010,284 | -€654,805 | -39.3% |
| Remuneration, social security and pensions | 62 | €466,735 | €380,402 | -€86,333 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,961 | €14,363 | +€1,401 | +10.8% |
| Other operating charges | 640/8 | €1,993 | €20,683 | +€18,689 | +937.6% |
| Gross operating margin | 9900 | €707,772 | €449,509 | -€258,263 | -36.5% |
| Operating profit (loss) | 9901 | €226,083 | €34,062 | -€192,021 | -84.9% |
| Financial income | 75/76B | €11 | €17 | +€6 | +52.5% |
| Recurring financial income | 75 | €11 | €17 | +€6 | +52.5% |
| Financial charges | 65/66B | €422 | €28,517 | +€28,096 | +6663.7% |
| Recurring financial charges | 65 | €422 | €28,517 | +€28,096 | +6663.7% |
| Profit (loss) for the period before taxes | 9903 | €225,672 | €5,561 | -€220,111 | -97.5% |
| Profit (loss) for the period | 9904 | €225,672 | €5,561 | -€220,111 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €225,672 | €5,561 | -€220,111 | -97.5% |
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 9 October 2026 via checked.be.