GLW BD: 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.
GLW BD
Largest movements
- Receivables within one year +€38,675
up €38,675 (+48.7%), from €79,488 to €118,163
of which Trade receivables: +€38,673
- Cash -€15,256
down €15,256 (-12.3%), from €124,470 to €109,214
mainly Contributions, distributions and other (-€120,282) and Receivables within one year (-€38,675)
- Deferred charges and accrued income +€12,810
up €12,810 (+753.6%), from €1,700 to €14,510
- Other debts +€32,689
up €32,689 (+35.7%), from €91,542 to €124,231
- Gross operating margin +€37,227
up €37,227 (+30.0%), from €124,202 to €161,429
- Taxes +€8,853
up €8,853 (+32.4%), from €27,334 to €36,188
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 | €222,786 | €258,893 | +€36,107 | +16.2% |
| Fixed assets | 21/28 | €17,128 | €17,006 | -€122 | -0.7% |
| Tangible fixed assets | 22/27 | €17,128 | €17,006 | -€122 | -0.7% |
| Furniture and vehicles | 24 | €1,788 | €3,877 | +€2,089 | +116.9% |
| Other tangible fixed assets | 26 | €15,340 | €13,129 | -€2,211 | -14.4% |
| Current assets | 29/58 | €205,658 | €241,887 | +€36,229 | +17.6% |
| Amounts receivable within one year | 40/41 | €79,488 | €118,163 | +€38,675 | +48.7% |
| Trade receivables | 40 | €79,466 | €118,139 | +€38,673 | +48.7% |
| Other amounts receivable | 41 | €22 | €24 | +€1 | +6.5% |
| Cash at bank and in hand | 54/58 | €124,470 | €109,214 | -€15,256 | -12.3% |
| Deferred charges and accrued income | 490/1 | €1,700 | €14,510 | +€12,810 | +753.6% |
| Total equity and liabilities | 10/49 | €222,786 | €258,893 | +€36,107 | +16.2% |
| Equity | 10/15 | €113,428 | €113,428 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,968 | €92,968 | = | 0.0% |
| Amounts payable | 17/49 | €109,358 | €145,465 | +€36,107 | +33.0% |
| Amounts payable within one year | 42/48 | €109,358 | €144,504 | +€35,147 | +32.1% |
| Trade debts | 44 | €1,401 | €3,156 | +€1,755 | +125.3% |
| Suppliers | 440/4 | €1,401 | €3,156 | +€1,755 | +125.3% |
| Taxes, remuneration and social security | 45 | €16,415 | €17,117 | +€703 | +4.3% |
| Taxes | 450/3 | €16,415 | €17,117 | +€703 | +4.3% |
| Other amounts payable | 47/48 | €91,542 | €124,231 | +€32,689 | +35.7% |
| Accrued charges and deferred income | 492/3 | - | €961 | +€961 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,256 | €3,821 | -€435 | -10.2% |
| Other operating charges | 640/8 | €434 | €290 | -€144 | -33.2% |
| Gross operating margin | 9900 | €124,202 | €161,429 | +€37,227 | +30.0% |
| Operating profit (loss) | 9901 | €119,512 | €157,318 | +€37,806 | +31.6% |
| Financial income | 75/76B | €1,430 | €7 | -€1,423 | -99.5% |
| Recurring financial income | 75 | €1,430 | €7 | -€1,423 | -99.5% |
| Financial charges | 65/66B | €386 | €856 | +€470 | +121.8% |
| Recurring financial charges | 65 | €386 | €856 | +€470 | +121.8% |
| Profit (loss) for the period before taxes | 9903 | €120,557 | €156,470 | +€35,913 | +29.8% |
| Income taxes | 67/77 | €27,334 | €36,188 | +€8,853 | +32.4% |
| Profit (loss) for the period | 9904 | €93,222 | €120,282 | +€27,060 | +29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,222 | €120,282 | +€27,060 | +29.0% |
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 4 October 2026 via checked.be.