GLACOTT: 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.
GLACOTT
Largest movements
- Receivables after one year +€132,549
up €132,549 (+339.9%), from €38,997 to €171,547
of which Trade receivables: +€171,547
- Cash -€63,475
down €63,475 (-70.0%), from €90,698 to €27,222
mainly Receivables after one year (-€132,549) and Trade debts (-€44,793)
- Receivables within one year -€52,438
down €52,438 (-87.4%), from €59,971 to €7,533
of which Other amounts receivable: -€49,816
- Tangible fixed assets -€3,006
down €3,006 (-17.4%), from €17,295 to €14,289
of which Plant, machinery and equipment: -€3,281
- Deferred charges and accrued income -€2,613
down €2,613 (-62.9%), from €4,152 to €1,539
- Trade debts -€44,793
down €44,793 (-77.7%), from €57,645 to €12,851
- Profit (loss) carried forward +€42,565
up €42,565 (+42.1%), from €101,078 to €143,643
- Tax, wage and social debts +€16,351
up €16,351 (+74.9%), from €21,829 to €38,179
of which Taxes: +€13,690
- Other debts -€5,892
down €5,892 (-78.2%), from €7,537 to €1,645
- Gross operating margin +€107,576
up €107,576 (+85.2%), from €126,219 to €233,795
- Staff costs +€96,203
up €96,203 (+130.8%), from €73,527 to €169,730
- Taxes +€6,707
up €6,707 (+76.3%), from €8,793 to €15,500
- Financial income +€6,031
new in 2025: €6,031
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 | €228,992 | €237,221 | +€8,230 | +3.6% |
| Fixed assets | 21/28 | €22,295 | €16,789 | -€5,506 | -24.7% |
| Intangible fixed assets | 21 | €5,000 | €2,500 | -€2,500 | -50.0% |
| Tangible fixed assets | 22/27 | €17,295 | €14,289 | -€3,006 | -17.4% |
| Plant, machinery and equipment | 23 | €8,167 | €4,887 | -€3,281 | -40.2% |
| Furniture and vehicles | 24 | - | €1,957 | +€1,957 | |
| Other tangible fixed assets | 26 | €9,128 | €7,446 | -€1,682 | -18.4% |
| Current assets | 29/58 | €206,697 | €220,432 | +€13,736 | +6.6% |
| Amounts receivable after more than one year | 29 | €38,997 | €171,547 | +€132,549 | +339.9% |
| Trade receivables | 290 | - | €171,547 | +€171,547 | |
| Other amounts receivable | 291 | €38,997 | - | -€38,997 | |
| Stocks and contracts in progress | 3 | €12,879 | €12,591 | -€288 | -2.2% |
| Stocks | 30/36 | €12,879 | €12,591 | -€288 | -2.2% |
| Amounts receivable within one year | 40/41 | €59,971 | €7,533 | -€52,438 | -87.4% |
| Trade receivables | 40 | €4,919 | €2,298 | -€2,622 | -53.3% |
| Other amounts receivable | 41 | €55,052 | €5,235 | -€49,816 | -90.5% |
| Cash at bank and in hand | 54/58 | €90,698 | €27,222 | -€63,475 | -70.0% |
| Deferred charges and accrued income | 490/1 | €4,152 | €1,539 | -€2,613 | -62.9% |
| Total equity and liabilities | 10/49 | €228,992 | €237,221 | +€8,230 | +3.6% |
| Equity | 10/15 | €141,981 | €184,546 | +€42,565 | +30.0% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €3,718 | €3,718 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,078 | €143,643 | +€42,565 | +42.1% |
| Amounts payable | 17/49 | €87,011 | €52,676 | -€34,335 | -39.5% |
| Amounts payable within one year | 42/48 | €87,011 | €52,676 | -€34,335 | -39.5% |
| Trade debts | 44 | €57,645 | €12,851 | -€44,793 | -77.7% |
| Suppliers | 440/4 | €57,645 | €12,851 | -€44,793 | -77.7% |
| Taxes, remuneration and social security | 45 | €21,829 | €38,179 | +€16,351 | +74.9% |
| Taxes | 450/3 | €10,602 | €24,292 | +€13,690 | +129.1% |
| Remuneration and social security | 454/9 | €11,227 | €13,887 | +€2,661 | +23.7% |
| Other amounts payable | 47/48 | €7,537 | €1,645 | -€5,892 | -78.2% |
| Remuneration, social security and pensions | 62 | €73,527 | €169,730 | +€96,203 | +130.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,442 | €7,871 | -€571 | -6.8% |
| Other operating charges | 640/8 | €1,412 | €1,854 | +€441 | +31.3% |
| Gross operating margin | 9900 | €126,219 | €233,795 | +€107,576 | +85.2% |
| Operating profit (loss) | 9901 | €42,837 | €54,341 | +€11,504 | +26.9% |
| Financial income | 75/76B | - | €6,031 | +€6,031 | |
| Recurring financial income | 75 | - | €6,031 | +€6,031 | |
| Financial charges | 65/66B | €2,234 | €2,308 | +€74 | +3.3% |
| Recurring financial charges | 65 | €2,234 | €2,308 | +€74 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €40,603 | €58,064 | +€17,461 | +43.0% |
| Income taxes | 67/77 | €8,793 | €15,500 | +€6,707 | +76.3% |
| Profit (loss) for the period | 9904 | €31,811 | €42,565 | +€10,754 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,811 | €42,565 | +€10,754 | +33.8% |
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 10 October 2026 via checked.be.