GLYWS: 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.
GLYWS
Largest movements
- Receivables within one year +€99,824
up €99,824 (+200.6%), from €49,763 to €149,587
of which Other amounts receivable: +€94,739
- Cash -€86,481
no longer reported in 2025 (was €86,481)
mainly Receivables within one year (-€99,824) and Current investments (-€44,849)
- Current investments +€44,849
new in 2025: €44,849
- Profit (loss) carried forward +€60,860
up €60,860 (+52.7%), from €115,468 to €176,328
- Gross operating margin -€76,985
down €76,985 (-49.6%), from €155,198 to €78,214
- Taxes -€22,797
down €22,797 (-58.4%), from €39,017 to €16,220
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 | €138,577 | €198,096 | +€59,518 | +42.9% |
| Fixed assets | 21/28 | €2,088 | €3,660 | +€1,572 | +75.3% |
| Tangible fixed assets | 22/27 | €2,088 | €3,660 | +€1,572 | +75.3% |
| Furniture and vehicles | 24 | €2,088 | €3,660 | +€1,572 | +75.3% |
| Current assets | 29/58 | €136,489 | €194,435 | +€57,946 | +42.5% |
| Amounts receivable within one year | 40/41 | €49,763 | €149,587 | +€99,824 | +200.6% |
| Trade receivables | 40 | €41,914 | €46,999 | +€5,085 | +12.1% |
| Other amounts receivable | 41 | €7,849 | €102,588 | +€94,739 | +1207.1% |
| Current investments | 50/53 | - | €44,849 | +€44,849 | |
| Cash at bank and in hand | 54/58 | €86,481 | - | -€86,481 | |
| Deferred charges and accrued income | 490/1 | €245 | - | -€245 | |
| Total equity and liabilities | 10/49 | €138,577 | €198,096 | +€59,518 | +42.9% |
| Equity | 10/15 | €118,468 | €179,328 | +€60,860 | +51.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,468 | €176,328 | +€60,860 | +52.7% |
| Amounts payable | 17/49 | €20,110 | €18,767 | -€1,342 | -6.7% |
| Amounts payable within one year | 42/48 | €20,110 | €18,767 | -€1,342 | -6.7% |
| Trade debts | 44 | €3,840 | €2,547 | -€1,292 | -33.7% |
| Suppliers | 440/4 | €3,840 | €2,547 | -€1,292 | -33.7% |
| Taxes, remuneration and social security | 45 | €16,270 | €16,220 | -€50 | -0.3% |
| Taxes | 450/3 | €16,270 | €16,220 | -€50 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €162 | €1,045 | +€883 | +545.5% |
| Other operating charges | 640/8 | €796 | - | -€796 | |
| Gross operating margin | 9900 | €155,198 | €78,214 | -€76,985 | -49.6% |
| Operating profit (loss) | 9901 | €154,240 | €77,169 | -€77,071 | -50.0% |
| Financial income | 75/76B | €245 | - | -€245 | |
| Recurring financial income | 75 | €245 | - | -€245 | |
| Financial charges | 65/66B | - | €88 | +€88 | |
| Recurring financial charges | 65 | - | €88 | +€88 | |
| Profit (loss) for the period before taxes | 9903 | €154,485 | €77,080 | -€77,405 | -50.1% |
| Income taxes | 67/77 | €39,017 | €16,220 | -€22,797 | -58.4% |
| Profit (loss) for the period | 9904 | €115,468 | €60,860 | -€54,608 | -47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €115,468 | €60,860 | -€54,608 | -47.3% |
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 3 October 2026 via checked.be.