PN GLASNET: 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.
PN GLASNET
Largest movements
- Tangible fixed assets -€7,589
down €7,589 (-22.5%), from €33,746 to €26,158
- Receivables within one year +€3,658
up €3,658 (+19.4%), from €18,898 to €22,556
of which Other amounts receivable: +€5,452
- Cash +€3,636
up €3,636 (+195%), from €1,866 to €5,501
mainly Depreciation (+€7,589) and Tax, wage and social debts (+€7,340)
- Tax, wage and social debts +€7,340
up €7,340 (+72.2%), from €10,166 to €17,506
of which Remuneration and social security: +€7,719
- Current portion of long-term debt +€6,249
new in 2025: €6,249
- Debts after one year -€6,240
down €6,240 (-38.5%), from €16,204 to €9,964
- Short-term financial debts -€5,937
no longer reported in 2025 (was €5,937)
- Trade debts -€2,635
down €2,635 (-37.3%), from €7,064 to €4,429
- Gross operating margin +€21,738
up €21,738, from -€4,904 to €16,835
- Other operating charges -€4,046
down €4,046 (-56.3%), from €7,183 to €3,136
- Depreciation +€3,475
up €3,475 (+84.5%), from €4,113 to €7,589
- Financial charges +€2,166
up €2,166 (+185%), from €1,170 to €3,336
- Taxes +€298
up €298 (+89.6%), from €333 to €631
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 | €54,510 | €54,215 | -€294 | -0.5% |
| Fixed assets | 21/28 | €33,746 | €26,158 | -€7,589 | -22.5% |
| Tangible fixed assets | 22/27 | €33,746 | €26,158 | -€7,589 | -22.5% |
| Furniture and vehicles | 24 | €33,746 | €26,158 | -€7,589 | -22.5% |
| Current assets | 29/58 | €20,764 | €28,058 | +€7,294 | +35.1% |
| Amounts receivable within one year | 40/41 | €18,898 | €22,556 | +€3,658 | +19.4% |
| Trade receivables | 40 | €18,898 | €17,104 | -€1,794 | -9.5% |
| Other amounts receivable | 41 | - | €5,452 | +€5,452 | |
| Cash at bank and in hand | 54/58 | €1,866 | €5,501 | +€3,636 | +195% |
| Total equity and liabilities | 10/49 | €54,510 | €54,215 | -€294 | -0.5% |
| Equity | 10/15 | -€5,122 | -€2,979 | +€2,143 | +41.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €11,580 | €11,580 | = | 0.0% |
| Distributable reserves | 133 | €11,580 | €11,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,702 | -€15,559 | +€2,143 | +12.1% |
| Amounts payable | 17/49 | €59,632 | €57,195 | -€2,437 | -4.1% |
| Amounts payable after more than one year | 17 | €16,204 | €9,964 | -€6,240 | -38.5% |
| Financial debts | 170/4 | €16,204 | €9,964 | -€6,240 | -38.5% |
| Amounts payable within one year | 42/48 | €43,428 | €47,230 | +€3,803 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,249 | +€6,249 | |
| Financial debts | 43 | €5,937 | - | -€5,937 | |
| Credit institutions | 430/8 | €5,937 | - | -€5,937 | |
| Trade debts | 44 | €7,064 | €4,429 | -€2,635 | -37.3% |
| Suppliers | 440/4 | €7,064 | €4,429 | -€2,635 | -37.3% |
| Taxes, remuneration and social security | 45 | €10,166 | €17,506 | +€7,340 | +72.2% |
| Taxes | 450/3 | €5,726 | €5,347 | -€379 | -6.6% |
| Remuneration and social security | 454/9 | €4,440 | €12,159 | +€7,719 | +174% |
| Other amounts payable | 47/48 | €20,261 | €19,047 | -€1,214 | -6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,113 | €7,589 | +€3,475 | +84.5% |
| Other operating charges | 640/8 | €7,183 | €3,136 | -€4,046 | -56.3% |
| Gross operating margin | 9900 | -€4,904 | €16,835 | +€21,738 | |
| Operating profit (loss) | 9901 | -€16,199 | €6,110 | +€22,309 | |
| Financial charges | 65/66B | €1,170 | €3,336 | +€2,166 | +185% |
| Recurring financial charges | 65 | €1,170 | €3,336 | +€2,166 | +185% |
| Profit (loss) for the period before taxes | 9903 | -€17,369 | €2,774 | +€20,144 | |
| Income taxes | 67/77 | €333 | €631 | +€298 | +89.6% |
| Profit (loss) for the period | 9904 | -€17,702 | €2,143 | +€19,845 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,702 | €2,143 | +€19,845 |
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 16 October 2026 via checked.be.