GLH: 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.
GLH
Largest movements
- Receivables within one year +€67,173
up €67,173 (+307%), from €21,916 to €89,089
of which Other amounts receivable: +€55,898
- Receivables after one year -€50,260
down €50,260 (-9.1%), from €553,132 to €502,872
of which Trade receivables: -€50,260
- Current investments +€42,189
up €42,189 (+214%), from €19,723 to €61,912
- Profit (loss) carried forward +€96,421
up €96,421 (+97.7%), from €98,699 to €195,120
- Trade debts -€47,502
down €47,502 (-88.8%), from €53,484 to €5,983
- Tax, wage and social debts +€33,538
up €33,538 (+42.7%), from €78,548 to €112,086
- Current portion of long-term debt -€20,499
down €20,499 (-9.1%), from €224,850 to €204,351
- Gross operating margin +€46,252
up €46,252 (+42.8%), from €108,002 to €154,254
- Financial charges +€24,223
up €24,223 (+581%), from €4,173 to €28,395
- Financial income -€9,062
down €9,062 (-37.4%), from €24,260 to €15,199
- Other operating charges +€2,010
up €2,010 (+190%), from €1,056 to €3,066
- Taxes +€1,585
up €1,585 (+4.1%), from €38,489 to €40,075
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,327,931 | €1,385,539 | +€57,608 | +4.3% |
| Fixed assets | 21/28 | €733,161 | €731,667 | -€1,494 | -0.2% |
| Tangible fixed assets | 22/27 | €3,161 | €1,667 | -€1,494 | -47.3% |
| Furniture and vehicles | 24 | €3,161 | €1,667 | -€1,494 | -47.3% |
| Financial fixed assets | 28 | €730,000 | €730,000 | = | 0.0% |
| Current assets | 29/58 | €594,770 | €653,872 | +€59,102 | +9.9% |
| Amounts receivable after more than one year | 29 | €553,132 | €502,872 | -€50,260 | -9.1% |
| Trade receivables | 290 | €53,132 | €2,872 | -€50,260 | -94.6% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,916 | €89,089 | +€67,173 | +307% |
| Trade receivables | 40 | - | €11,275 | +€11,275 | |
| Other amounts receivable | 41 | €21,916 | €77,814 | +€55,898 | +255% |
| Current investments | 50/53 | €19,723 | €61,912 | +€42,189 | +214% |
| Total equity and liabilities | 10/49 | €1,327,931 | €1,385,539 | +€57,608 | +4.3% |
| Equity | 10/15 | €666,699 | €763,120 | +€96,421 | +14.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Capital | 10 | €50,000 | - | -€50,000 | |
| Issued capital | 100 | €50,000 | - | -€50,000 | |
| Reserves | 13 | €518,000 | €518,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | - | -€5,000 | |
| Legal reserve | 130 | €5,000 | - | -€5,000 | |
| Distributable reserves | 133 | €513,000 | €518,000 | +€5,000 | +1.0% |
| Profit (loss) carried forward | 14 | €98,699 | €195,120 | +€96,421 | +97.7% |
| Amounts payable | 17/49 | €661,233 | €622,419 | -€38,814 | -5.9% |
| Amounts payable after more than one year | 17 | €104,351 | €100,000 | -€4,351 | -4.2% |
| Financial debts | 170/4 | €4,351 | - | -€4,351 | |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €556,882 | €522,419 | -€34,463 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €224,850 | €204,351 | -€20,499 | -9.1% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €53,484 | €5,983 | -€47,502 | -88.8% |
| Suppliers | 440/4 | €53,484 | €5,983 | -€47,502 | -88.8% |
| Taxes, remuneration and social security | 45 | €78,548 | €112,086 | +€33,538 | +42.7% |
| Taxes | 450/3 | €78,548 | €112,086 | +€33,538 | +42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,225 | €1,494 | +€270 | +22.0% |
| Other operating charges | 640/8 | €1,056 | €3,066 | +€2,010 | +190% |
| Gross operating margin | 9900 | €108,002 | €154,254 | +€46,252 | +42.8% |
| Operating profit (loss) | 9901 | €105,720 | €149,693 | +€43,973 | +41.6% |
| Financial income | 75/76B | €24,260 | €15,199 | -€9,062 | -37.4% |
| Recurring financial income | 75 | €24,260 | €15,199 | -€9,062 | -37.4% |
| Financial charges | 65/66B | €4,173 | €28,395 | +€24,223 | +581% |
| Recurring financial charges | 65 | €4,173 | €28,395 | +€24,223 | +581% |
| Profit (loss) for the period before taxes | 9903 | €125,808 | €136,496 | +€10,688 | +8.5% |
| Income taxes | 67/77 | €38,489 | €40,075 | +€1,585 | +4.1% |
| Profit (loss) for the period | 9904 | €87,319 | €96,421 | +€9,103 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,319 | €96,421 | +€9,103 | +10.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.