B GLOBAL MANAGEMENT: 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.
B GLOBAL MANAGEMENT
Largest movements
- Current investments +€150,000
up €150,000 (+100%), from €150,000 to €300,000
- Cash +€149,675
up €149,675 (+29.3%), from €511,408 to €661,083
mainly Net result for the year (+€406,224) and Depreciation (+€79,813)
- Receivables within one year -€38,380
down €38,380 (-34.4%), from €111,621 to €73,242
of which Other amounts receivable: -€21,799
- Profit (loss) carried forward +€266,224
up €266,224 (+37.6%), from €707,837 to €974,061
- Debts after one year -€55,535
down €55,535 (-5.7%), from €981,340 to €925,805
- Other debts +€34,569
up €34,569 (+32.7%), from €105,753 to €140,323
- Gross operating margin +€180,762
up €180,762 (+37.2%), from €485,879 to €666,642
- Other operating charges -€99,658
down €99,658 (-96.8%), from €102,962 to €3,304
- Taxes +€67,771
up €67,771 (+87.4%), from €77,511 to €145,283
- Financial charges +€35,701
up €35,701 (+1,171%), from €3,048 to €38,748
of which Financial charges: +€35,701
- Depreciation -€19,400
down €19,400 (-19.6%), from €99,213 to €79,813
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 | €2,319,997 | €2,579,308 | +€259,311 | +11.2% |
| Fixed assets | 21/28 | €1,495,302 | €1,492,997 | -€2,305 | -0.2% |
| Tangible fixed assets | 22/27 | €1,400,013 | €1,391,708 | -€8,305 | -0.6% |
| Land and buildings | 22 | €1,201,943 | €1,165,408 | -€36,535 | -3.0% |
| Plant, machinery and equipment | 23 | €675 | €90 | -€586 | -86.7% |
| Furniture and vehicles | 24 | €50,648 | €97,219 | +€46,571 | +92.0% |
| Other tangible fixed assets | 26 | €146,747 | €128,992 | -€17,755 | -12.1% |
| Financial fixed assets | 28 | €95,289 | €101,289 | +€6,000 | +6.3% |
| Current assets | 29/58 | €824,696 | €1,086,311 | +€261,616 | +31.7% |
| Amounts receivable after more than one year | 29 | €45,000 | €45,000 | = | 0.0% |
| Other amounts receivable | 291 | €45,000 | €45,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €111,621 | €73,242 | -€38,380 | -34.4% |
| Trade receivables | 40 | €78,119 | €61,539 | -€16,581 | -21.2% |
| Other amounts receivable | 41 | €33,502 | €11,703 | -€21,799 | -65.1% |
| Current investments | 50/53 | €150,000 | €300,000 | +€150,000 | +100% |
| Cash at bank and in hand | 54/58 | €511,408 | €661,083 | +€149,675 | +29.3% |
| Deferred charges and accrued income | 490/1 | €6,666 | €6,987 | +€321 | +4.8% |
| Total equity and liabilities | 10/49 | €2,319,997 | €2,579,308 | +€259,311 | +11.2% |
| Equity | 10/15 | €956,118 | €1,222,342 | +€266,224 | +27.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €229,681 | €229,681 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €84,200 | -€42,100 | -33.3% |
| Distributable reserves | 133 | €101,521 | €143,621 | +€42,100 | +41.5% |
| Profit (loss) carried forward | 14 | €707,837 | €974,061 | +€266,224 | +37.6% |
| Amounts payable | 17/49 | €1,363,880 | €1,356,967 | -€6,913 | -0.5% |
| Amounts payable after more than one year | 17 | €981,340 | €925,805 | -€55,535 | -5.7% |
| Financial debts | 170/4 | €981,340 | €925,805 | -€55,535 | -5.7% |
| Amounts payable within one year | 42/48 | €381,894 | €427,735 | +€45,841 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €53,660 | €60,077 | +€6,418 | +12.0% |
| Trade debts | 44 | €16,466 | €25,244 | +€8,778 | +53.3% |
| Suppliers | 440/4 | €16,466 | €25,244 | +€8,778 | +53.3% |
| Taxes, remuneration and social security | 45 | €206,015 | €202,091 | -€3,924 | -1.9% |
| Taxes | 450/3 | €206,015 | €197,809 | -€8,206 | -4.0% |
| Remuneration and social security | 454/9 | €0 | €4,282 | +€4,282 | |
| Other amounts payable | 47/48 | €105,753 | €140,323 | +€34,569 | +32.7% |
| Accrued charges and deferred income | 492/3 | €645 | €3,426 | +€2,781 | +431% |
| Non-recurring operating income | 76A | - | €7,841 | +€7,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,213 | €79,813 | -€19,400 | -19.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €102,962 | €3,304 | -€99,658 | -96.8% |
| Gross operating margin | 9900 | €485,879 | €666,642 | +€180,762 | +37.2% |
| Operating profit (loss) | 9901 | €283,704 | €583,525 | +€299,821 | +106% |
| Financial income | 75/76B | €5,752 | €6,730 | +€978 | +17.0% |
| Recurring financial income | 75 | €5,752 | €6,730 | +€978 | +17.0% |
| Financial charges | 65/66B | €3,048 | €38,748 | +€35,701 | +1,171% |
| Recurring financial charges | 65 | €3,048 | €38,748 | +€35,701 | +1,171% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €286,409 | €551,507 | +€265,098 | +92.6% |
| Income taxes | 67/77 | €77,511 | €145,283 | +€67,771 | +87.4% |
| Profit (loss) for the period | 9904 | €208,897 | €406,224 | +€197,327 | +94.5% |
| Transfer from tax-exempt reserves | 789 | €44,205 | €42,100 | -€2,105 | -4.8% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €211,002 | €448,324 | +€237,322 | +112% |
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 14 October 2026 via checked.be.