BRUSSELS GLOBAL SERVICES: 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.
BRUSSELS GLOBAL SERVICES
Largest movements
- Tangible fixed assets -€46,911
down €46,911 (-7.2%), from €652,735 to €605,824
of which Land and buildings: -€66,828
- Cash -€19,202
down €19,202 (-61.7%), from €31,102 to €11,900
mainly Trade debts (-€48,634) and Debts after one year (-€34,721)
- Receivables within one year +€13,901
up €13,901 (+64.8%), from €21,437 to €35,338
of which Other amounts receivable: +€9,653
- Deferred charges and accrued income -€10,821
down €10,821 (-14.2%), from €76,004 to €65,183
- Trade debts -€48,634
down €48,634 (-93.6%), from €51,950 to €3,317
- Debts after one year -€34,721
down €34,721 (-7.0%), from €497,619 to €462,898
- Profit (loss) carried forward +€33,036
up €33,036 (+27.9%), from €118,606 to €151,641
- Tax, wage and social debts -€17,500
down €17,500 (-33.4%), from €52,430 to €34,930
- Gross operating margin +€39,889
up €39,889 (+41.8%), from €95,410 to €135,299
- Other operating charges -€15,041
down €15,041 (-90.2%), from €16,671 to €1,630
- Depreciation +€7,704
up €7,704 (+11.2%), from €68,778 to €76,482
- Taxes -€4,578
down €4,578 (-35.1%), from €13,037 to €8,459
- Staff costs +€2,907
up €2,907 (+658%), from €442 to €3,349
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 | €781,777 | €718,745 | -€63,032 | -8.1% |
| Fixed assets | 21/28 | €653,235 | €606,324 | -€46,911 | -7.2% |
| Tangible fixed assets | 22/27 | €652,735 | €605,824 | -€46,911 | -7.2% |
| Land and buildings | 22 | €647,044 | €580,216 | -€66,828 | -10.3% |
| Plant, machinery and equipment | 23 | €1,923 | €848 | -€1,075 | -55.9% |
| Furniture and vehicles | 24 | €3,767 | €24,760 | +€20,993 | +557% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €128,543 | €112,421 | -€16,121 | -12.5% |
| Amounts receivable within one year | 40/41 | €21,437 | €35,338 | +€13,901 | +64.8% |
| Trade receivables | 40 | €18,456 | €22,705 | +€4,248 | +23.0% |
| Other amounts receivable | 41 | €2,980 | €12,633 | +€9,653 | +324% |
| Cash at bank and in hand | 54/58 | €31,102 | €11,900 | -€19,202 | -61.7% |
| Deferred charges and accrued income | 490/1 | €76,004 | €65,183 | -€10,821 | -14.2% |
| Total equity and liabilities | 10/49 | €781,777 | €718,745 | -€63,032 | -8.1% |
| Equity | 10/15 | €139,066 | €172,101 | +€33,036 | +23.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €118,606 | €151,641 | +€33,036 | +27.9% |
| Amounts payable | 17/49 | €642,712 | €546,644 | -€96,067 | -14.9% |
| Amounts payable after more than one year | 17 | €497,619 | €462,898 | -€34,721 | -7.0% |
| Financial debts | 170/4 | €497,619 | €462,898 | -€34,721 | -7.0% |
| Amounts payable within one year | 42/48 | €145,093 | €83,746 | -€61,347 | -42.3% |
| Trade debts | 44 | €51,950 | €3,317 | -€48,634 | -93.6% |
| Suppliers | 440/4 | €51,950 | €3,317 | -€48,634 | -93.6% |
| Taxes, remuneration and social security | 45 | €52,430 | €34,930 | -€17,500 | -33.4% |
| Remuneration and social security | 454/9 | €52,430 | €34,930 | -€17,500 | -33.4% |
| Other amounts payable | 47/48 | €40,712 | €45,499 | +€4,787 | +11.8% |
| Remuneration, social security and pensions | 62 | €442 | €3,349 | +€2,907 | +658% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,778 | €76,482 | +€7,704 | +11.2% |
| Other operating charges | 640/8 | €16,671 | €1,630 | -€15,041 | -90.2% |
| Non-recurring operating charges | 66A | €335 | €211 | -€124 | -36.9% |
| Gross operating margin | 9900 | €95,410 | €135,299 | +€39,889 | +41.8% |
| Operating profit (loss) | 9901 | €9,185 | €53,627 | +€44,442 | +484% |
| Financial charges | 65/66B | €12,509 | €12,132 | -€377 | -3.0% |
| Recurring financial charges | 65 | €12,509 | €12,132 | -€377 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,324 | €41,495 | +€44,819 | |
| Income taxes | 67/77 | €13,037 | €8,459 | -€4,578 | -35.1% |
| Profit (loss) for the period | 9904 | -€16,361 | €33,036 | +€49,396 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,361 | €33,036 | +€49,396 |
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 21 October 2026 via checked.be.