LA GLACIERE: 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.
LA GLACIERE
Largest movements
- Receivables within one year +€193,971
up €193,971 (+75.6%), from €256,558 to €450,529
of which Other amounts receivable: +€184,683
- Current investments -€50,092
no longer reported in 2025 (was €50,092)
- Tangible fixed assets +€34,679
up €34,679 (+18.6%), from €186,386 to €221,065
of which Furniture and vehicles: +€42,785
- Cash +€33,162
up €33,162 (+19.1%), from €173,651 to €206,813
mainly Short-term financial debts (+€95,000) and Net result for the year (+€69,629)
- Short-term financial debts +€95,000
up €95,000 (+76.0%), from €125,000 to €220,000
of which Other loans: +€120,000
- Profit (loss) carried forward +€69,629
up €69,629 (+18.8%), from €369,804 to €439,433
- Debts after one year +€50,863
new in 2025: €50,863
- Trade debts -€31,693
down €31,693 (-40.9%), from €77,578 to €45,885
- Current portion of long-term debt +€21,447
new in 2025: €21,447
- Staff costs +€54,990
up €54,990 (+24.2%), from €226,849 to €281,839
- Gross operating margin +€45,739
up €45,739 (+11.9%), from €385,983 to €431,722
- Depreciation +€6,655
up €6,655 (+11.0%), from €60,249 to €66,904
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 | €678,084 | €891,329 | +€213,245 | +31.4% |
| Fixed assets | 21/28 | €189,521 | €224,200 | +€34,679 | +18.3% |
| Tangible fixed assets | 22/27 | €186,386 | €221,065 | +€34,679 | +18.6% |
| Plant, machinery and equipment | 23 | €97,243 | €89,137 | -€8,106 | -8.3% |
| Furniture and vehicles | 24 | €89,143 | €131,928 | +€42,785 | +48.0% |
| Financial fixed assets | 28 | €3,135 | €3,135 | = | 0.0% |
| Current assets | 29/58 | €488,564 | €667,129 | +€178,566 | +36.5% |
| Stocks and contracts in progress | 3 | €8,263 | €9,788 | +€1,525 | +18.5% |
| Stocks | 30/36 | €8,263 | €9,788 | +€1,525 | +18.5% |
| Amounts receivable within one year | 40/41 | €256,558 | €450,529 | +€193,971 | +75.6% |
| Trade receivables | 40 | €89,395 | €98,684 | +€9,288 | +10.4% |
| Other amounts receivable | 41 | €167,163 | €351,846 | +€184,683 | +110% |
| Current investments | 50/53 | €50,092 | - | -€50,092 | |
| Cash at bank and in hand | 54/58 | €173,651 | €206,813 | +€33,162 | +19.1% |
| Total equity and liabilities | 10/49 | €678,084 | €891,329 | +€213,245 | +31.4% |
| Equity | 10/15 | €438,745 | €508,374 | +€69,629 | +15.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,941 | €6,941 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,941 | €6,941 | = | 0.0% |
| Legal reserve | 130 | €6,941 | €6,941 | = | 0.0% |
| Profit (loss) carried forward | 14 | €369,804 | €439,433 | +€69,629 | +18.8% |
| Amounts payable | 17/49 | €239,339 | €382,955 | +€143,616 | +60.0% |
| Amounts payable after more than one year | 17 | - | €50,863 | +€50,863 | |
| Financial debts | 170/4 | - | €50,863 | +€50,863 | |
| Amounts payable within one year | 42/48 | €232,339 | €321,591 | +€89,252 | +38.4% |
| Current portion of amounts payable after more than one year | 42 | - | €21,447 | +€21,447 | |
| Financial debts | 43 | €125,000 | €220,000 | +€95,000 | +76.0% |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Other loans | 439 | €100,000 | €220,000 | +€120,000 | +120% |
| Trade debts | 44 | €77,578 | €45,885 | -€31,693 | -40.9% |
| Suppliers | 440/4 | €77,578 | €45,885 | -€31,693 | -40.9% |
| Taxes, remuneration and social security | 45 | €28,696 | €33,194 | +€4,498 | +15.7% |
| Taxes | 450/3 | €9,922 | €3,950 | -€5,972 | -60.2% |
| Remuneration and social security | 454/9 | €18,774 | €29,244 | +€10,469 | +55.8% |
| Other amounts payable | 47/48 | €1,065 | €1,065 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,000 | €10,501 | +€3,501 | +50.0% |
| Remuneration, social security and pensions | 62 | €226,849 | €281,839 | +€54,990 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,249 | €66,904 | +€6,655 | +11.0% |
| Other operating charges | 640/8 | €1,541 | €1,511 | -€30 | -1.9% |
| Gross operating margin | 9900 | €385,983 | €431,722 | +€45,739 | +11.9% |
| Operating profit (loss) | 9901 | €97,344 | €81,468 | -€15,876 | -16.3% |
| Financial income | 75/76B | €5,912 | €10,063 | +€4,150 | +70.2% |
| Recurring financial income | 75 | €5,912 | €10,063 | +€4,150 | +70.2% |
| Financial charges | 65/66B | €4,251 | €6,481 | +€2,231 | +52.5% |
| Recurring financial charges | 65 | €4,251 | €6,481 | +€2,231 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €99,005 | €85,049 | -€13,956 | -14.1% |
| Income taxes | 67/77 | €18,749 | €15,420 | -€3,329 | -17.8% |
| Profit (loss) for the period | 9904 | €80,256 | €69,629 | -€10,627 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,256 | €69,629 | -€10,627 | -13.2% |
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 22 October 2026 via checked.be.