GLX SERVICES: 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.
GLX SERVICES
Largest movements
- Tangible fixed assets +€288,854
up €288,854 (+34.0%), from €848,401 to €1.1m
of which Furniture and vehicles: +€301,964
- Cash +€50,663
up €50,663 (+108.4%), from €46,722 to €97,385
mainly Depreciation (+€362,185) and Debts after one year (+€289,285)
- Intangible fixed assets -€17,152
down €17,152 (-23.7%), from €72,507 to €55,355
- Debts after one year +€289,285
up €289,285 (+65.9%), from €438,985 to €728,271
- Trade debts -€146,170
down €146,170 (-63.8%), from €229,204 to €83,035
- Reserves +€81,812
up €81,812 (+35.5%), from €230,683 to €312,495
- Current portion of long-term debt +€74,763
up €74,763 (+34.9%), from €213,916 to €288,679
- Gross operating margin +€235,205
up €235,205 (+57.3%), from €410,394 to €645,599
- Depreciation +€139,741
up €139,741 (+62.8%), from €222,443 to €362,185
- Staff costs +€43,909
up €43,909 (+47.3%), from €92,928 to €136,836
- Financial charges +€17,859
up €17,859 (+85.1%), from €20,986 to €38,845
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 | €1,197,428 | €1,508,780 | +€311,353 | +26.0% |
| Formation expenses | 20 | €466 | €252 | -€214 | -45.9% |
| Fixed assets | 21/28 | €921,313 | €1,193,015 | +€271,702 | +29.5% |
| Intangible fixed assets | 21 | €72,507 | €55,355 | -€17,152 | -23.7% |
| Tangible fixed assets | 22/27 | €848,401 | €1,137,256 | +€288,854 | +34.0% |
| Plant, machinery and equipment | 23 | €181,846 | €158,592 | -€23,253 | -12.8% |
| Furniture and vehicles | 24 | €646,251 | €948,215 | +€301,964 | +46.7% |
| Other tangible fixed assets | 26 | €20,305 | €30,449 | +€10,144 | +50.0% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €275,649 | €315,513 | +€39,864 | +14.5% |
| Stocks and contracts in progress | 3 | €400 | €400 | = | 0.0% |
| Stocks | 30/36 | €400 | €400 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €221,561 | €212,162 | -€9,399 | -4.2% |
| Trade receivables | 40 | €203,702 | €183,186 | -€20,517 | -10.1% |
| Other amounts receivable | 41 | €17,859 | €28,976 | +€11,118 | +62.3% |
| Cash at bank and in hand | 54/58 | €46,722 | €97,385 | +€50,663 | +108.4% |
| Deferred charges and accrued income | 490/1 | €6,965 | €5,565 | -€1,400 | -20.1% |
| Total equity and liabilities | 10/49 | €1,197,428 | €1,508,780 | +€311,353 | +26.0% |
| Equity | 10/15 | €235,683 | €317,495 | +€81,812 | +34.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €230,683 | €312,495 | +€81,812 | +35.5% |
| Distributable reserves | 133 | €230,683 | €312,495 | +€81,812 | +35.5% |
| Amounts payable | 17/49 | €961,745 | €1,191,285 | +€229,541 | +23.9% |
| Amounts payable after more than one year | 17 | €438,985 | €728,271 | +€289,285 | +65.9% |
| Financial debts | 170/4 | €438,985 | €728,271 | +€289,285 | +65.9% |
| Amounts payable within one year | 42/48 | €522,759 | €463,015 | -€59,745 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €213,916 | €288,679 | +€74,763 | +34.9% |
| Trade debts | 44 | €229,204 | €83,035 | -€146,170 | -63.8% |
| Suppliers | 440/4 | €229,204 | €83,035 | -€146,170 | -63.8% |
| Taxes, remuneration and social security | 45 | €25,334 | €36,831 | +€11,497 | +45.4% |
| Taxes | 450/3 | €11,459 | €17,025 | +€5,566 | +48.6% |
| Remuneration and social security | 454/9 | €13,875 | €19,806 | +€5,931 | +42.7% |
| Other amounts payable | 47/48 | €54,306 | €54,471 | +€165 | +0.3% |
| Remuneration, social security and pensions | 62 | €92,928 | €136,836 | +€43,909 | +47.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222,443 | €362,185 | +€139,741 | +62.8% |
| Other operating charges | 640/8 | €16,733 | €11,578 | -€5,155 | -30.8% |
| Gross operating margin | 9900 | €410,394 | €645,599 | +€235,205 | +57.3% |
| Operating profit (loss) | 9901 | €78,290 | €135,000 | +€56,710 | +72.4% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €20,986 | €38,845 | +€17,859 | +85.1% |
| Recurring financial charges | 65 | €20,986 | €38,845 | +€17,859 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €57,304 | €96,160 | +€38,856 | +67.8% |
| Income taxes | 67/77 | €8,234 | €14,348 | +€6,114 | +74.3% |
| Profit (loss) for the period | 9904 | €49,070 | €81,812 | +€32,742 | +66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €49,070 | €81,812 | +€32,742 | +66.7% |
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 5 October 2026 via checked.be.