Kévin GLOIRE: 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.
Kévin GLOIRE
Largest movements
- Cash -€93,946
down €93,946 (-64.1%), from €146,609 to €52,664
mainly Other debts (-€64,248) and Debts after one year (-€39,399)
- Tangible fixed assets -€54,576
down €54,576 (-6.1%), from €899,022 to €844,447
of which Land and buildings: -€52,567
- Other debts -€64,248
down €64,248 (-10.0%), from €642,847 to €578,600
- Debts after one year -€39,399
down €39,399 (-17.5%), from €225,359 to €185,960
- Profit (loss) carried forward -€21,185
down €21,185, from €16,635 to -€4,550
- Current portion of long-term debt -€18,240
down €18,240 (-31.7%), from €57,533 to €39,293
- Financial charges +€18,920
up €18,920 (+61.4%), from €30,791 to €49,710
- Gross operating margin +€13,157
up €13,157 (+13.5%), from €97,132 to €110,289
- Depreciation +€3,085
up €3,085 (+4.6%), from €66,718 to €69,802
- Other operating charges -€1,180
down €1,180 (-9.0%), from €13,148 to €11,968
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.
Derived cash bridge
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 | €1,133,577 | €992,592 | -€140,985 | -12.4% |
| Fixed assets | 21/28 | €899,064 | €844,488 | -€54,576 | -6.1% |
| Tangible fixed assets | 22/27 | €899,022 | €844,447 | -€54,576 | -6.1% |
| Land and buildings | 22 | €887,737 | €835,170 | -€52,567 | -5.9% |
| Plant, machinery and equipment | 23 | €2,988 | €2,332 | -€656 | -22.0% |
| Furniture and vehicles | 24 | €5,119 | €4,338 | -€781 | -15.3% |
| Other tangible fixed assets | 26 | €3,177 | €2,606 | -€571 | -18.0% |
| Financial fixed assets | 28 | €41 | €41 | = | 0.0% |
| Current assets | 29/58 | €234,513 | €148,104 | -€86,410 | -36.8% |
| Amounts receivable within one year | 40/41 | €87,085 | €92,362 | +€5,278 | +6.1% |
| Trade receivables | 40 | €11,950 | €29,271 | +€17,321 | +145% |
| Other amounts receivable | 41 | €75,135 | €63,091 | -€12,044 | -16.0% |
| Cash at bank and in hand | 54/58 | €146,609 | €52,664 | -€93,946 | -64.1% |
| Deferred charges and accrued income | 490/1 | €819 | €3,078 | +€2,258 | +276% |
| Total equity and liabilities | 10/49 | €1,133,577 | €992,592 | -€140,985 | -12.4% |
| Equity | 10/15 | €182,609 | €161,424 | -€21,185 | -11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €147,374 | €147,374 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €143,654 | €143,654 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,635 | -€4,550 | -€21,185 | |
| Amounts payable | 17/49 | €950,968 | €831,168 | -€119,800 | -12.6% |
| Amounts payable after more than one year | 17 | €225,359 | €185,960 | -€39,399 | -17.5% |
| Financial debts | 170/4 | €225,359 | €185,960 | -€39,399 | -17.5% |
| Amounts payable within one year | 42/48 | €725,427 | €643,563 | -€81,864 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €57,533 | €39,293 | -€18,240 | -31.7% |
| Trade debts | 44 | €17,515 | €25,063 | +€7,549 | +43.1% |
| Suppliers | 440/4 | €17,515 | €25,063 | +€7,549 | +43.1% |
| Taxes, remuneration and social security | 45 | €7,532 | €607 | -€6,925 | -91.9% |
| Taxes | 450/3 | €6,032 | €607 | -€5,425 | -89.9% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €642,847 | €578,600 | -€64,248 | -10.0% |
| Accrued charges and deferred income | 492/3 | €182 | €1,644 | +€1,463 | +805% |
| Remuneration, social security and pensions | 62 | - | €84 | +€84 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,718 | €69,802 | +€3,085 | +4.6% |
| Other operating charges | 640/8 | €13,148 | €11,968 | -€1,180 | -9.0% |
| Gross operating margin | 9900 | €97,132 | €110,289 | +€13,157 | +13.5% |
| Operating profit (loss) | 9901 | €17,265 | €28,435 | +€11,169 | +64.7% |
| Financial income | 75/76B | - | €91 | +€91 | |
| Recurring financial income | 75 | - | €91 | +€91 | |
| Financial charges | 65/66B | €30,791 | €49,710 | +€18,920 | +61.4% |
| Recurring financial charges | 65 | €30,791 | €49,710 | +€18,920 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,525 | -€21,185 | -€7,660 | -56.6% |
| Income taxes | 67/77 | €224 | - | -€224 | |
| Profit (loss) for the period | 9904 | -€13,749 | -€21,185 | -€7,436 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,749 | -€21,185 | -€7,436 | -54.1% |
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 27 October 2026 via checked.be.