It seems to be the case since after I added

U:/TEMP/TEMP/D/Test04.txt
U:/TEMP/TEMP/E/Test05.txt
[download]

it prints in the first version:

A : U:/TEMP/TEMP/A : U:/TEMP/TEMP/A/Test01.txt
D : U:/TEMP/TEMP/D : U:/TEMP/TEMP/D/Test04.txt
C : U:/TEMP/TEMP/C : U:/TEMP/TEMP/C/Test03.txt
E : U:/TEMP/TEMP/E : U:/TEMP/TEMP/E/Test05.txt
B : U:/TEMP/TEMP/B : U:/TEMP/TEMP/B/Test02.txt
[download]

and in the second version:

A : U:/TEMP/TEMP/A : U:/TEMP/TEMP/A/Test01.txt,
Use of uninitialized value $file in concatenation (.) or string at ...
+ line 17.
D : U:/TEMP/TEMP/D : ,
C : U:/TEMP/TEMP/C : U:/TEMP/TEMP/C/Test03.txt,
Use of uninitialized value $file in concatenation (.) or string at ...
+ line 17.
E : U:/TEMP/TEMP/E : ,
B : U:/TEMP/TEMP/B : U:/TEMP/TEMP/B/Test02.txt,
[download]

Thank you very much!
What I do not understand though - to be honest - is why glob is not evaluated again on the second loop pass.
VE
Update: After reading perlop and your post twice I did catch it :-)
Sometimes it takes longer to savvy.
Thanks again!