ITAL - GLACES: 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.
ITAL - GLACES
Largest movements
- Tangible fixed assets +€117,602
up €117,602 (+186.6%), from €63,023 to €180,624
of which Furniture and vehicles: +€118,926
- Cash -€104,827
down €104,827 (-78.8%), from €133,109 to €28,281
mainly Investment in fixed assets (net) (-€158,862) and Net result for the year (-€31,465)
- Financial fixed assets +€16,495
up €16,495 (+2576.5%), from €640 to €17,135
- Receivables within one year -€2,463
down €2,463 (-21.8%), from €11,280 to €8,817
of which Trade receivables: -€6,099
- Debts after one year +€38,284
new in 2025: €38,284
- Profit (loss) carried forward -€31,465
down €31,465 (-21.6%), from €145,746 to €114,281
- Other debts +€21,464
up €21,464 (+58.6%), from €36,630 to €58,094
- Staff costs +€31,315
up €31,315 (+54.3%), from €57,686 to €89,000
- Taxes +€30,686
new in 2025: €30,686
- Gross operating margin -€20,779
down €20,779 (-15.2%), from €136,443 to €115,664
- Depreciation +€10,880
up €10,880 (+78.4%), from €13,885 to €24,765
- Financial income -€2,119
down €2,119 (-72.5%), from €2,924 to €805
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 | €208,051 | €234,858 | +€26,806 | +12.9% |
| Fixed assets | 21/28 | €63,663 | €197,759 | +€134,097 | +210.6% |
| Tangible fixed assets | 22/27 | €63,023 | €180,624 | +€117,602 | +186.6% |
| Land and buildings | 22 | €31,800 | €27,257 | -€4,543 | -14.3% |
| Plant, machinery and equipment | 23 | €5,402 | €8,621 | +€3,219 | +59.6% |
| Furniture and vehicles | 24 | €25,821 | €144,746 | +€118,926 | +460.6% |
| Financial fixed assets | 28 | €640 | €17,135 | +€16,495 | +2576.5% |
| Current assets | 29/58 | €144,388 | €37,098 | -€107,290 | -74.3% |
| Amounts receivable within one year | 40/41 | €11,280 | €8,817 | -€2,463 | -21.8% |
| Trade receivables | 40 | €6,258 | €159 | -€6,099 | -97.5% |
| Other amounts receivable | 41 | €5,022 | €8,658 | +€3,636 | +72.4% |
| Cash at bank and in hand | 54/58 | €133,109 | €28,281 | -€104,827 | -78.8% |
| Total equity and liabilities | 10/49 | €208,051 | €234,858 | +€26,806 | +12.9% |
| Equity | 10/15 | €158,394 | €126,929 | -€31,465 | -19.9% |
| Contributions | 10/11 | €2,479 | €2,479 | = | 0.0% |
| Reserves | 13 | €10,169 | €10,169 | = | 0.0% |
| Non-distributable reserves | 130/1 | €248 | €248 | = | 0.0% |
| Reserves not available under the articles | 1311 | €248 | €248 | = | 0.0% |
| Distributable reserves | 133 | €9,921 | €9,921 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,746 | €114,281 | -€31,465 | -21.6% |
| Amounts payable | 17/49 | €49,658 | €107,929 | +€58,271 | +117.3% |
| Amounts payable after more than one year | 17 | - | €38,284 | +€38,284 | |
| Financial debts | 170/4 | - | €38,284 | +€38,284 | |
| Amounts payable within one year | 42/48 | €49,658 | €69,645 | +€19,987 | +40.2% |
| Trade debts | 44 | €7,078 | €5,602 | -€1,477 | -20.9% |
| Suppliers | 440/4 | €7,078 | €5,602 | -€1,477 | -20.9% |
| Taxes, remuneration and social security | 45 | €5,949 | €5,949 | = | 0.0% |
| Remuneration and social security | 454/9 | €5,949 | €5,949 | = | 0.0% |
| Other amounts payable | 47/48 | €36,630 | €58,094 | +€21,464 | +58.6% |
| Remuneration, social security and pensions | 62 | €57,686 | €89,000 | +€31,315 | +54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,885 | €24,765 | +€10,880 | +78.4% |
| Other operating charges | 640/8 | €1,235 | €2,851 | +€1,615 | +130.7% |
| Gross operating margin | 9900 | €136,443 | €115,664 | -€20,779 | -15.2% |
| Operating profit (loss) | 9901 | €63,637 | -€952 | -€64,589 | |
| Financial income | 75/76B | €2,924 | €805 | -€2,119 | -72.5% |
| Recurring financial income | 75 | €2,924 | €805 | -€2,119 | -72.5% |
| Financial charges | 65/66B | €647 | €632 | -€16 | -2.4% |
| Recurring financial charges | 65 | €647 | €632 | -€16 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €65,914 | -€779 | -€66,693 | |
| Income taxes | 67/77 | - | €30,686 | +€30,686 | |
| Profit (loss) for the period | 9904 | €65,914 | -€31,465 | -€97,379 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,914 | -€31,465 | -€97,379 |
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 12 October 2026 via checked.be.