Global Benelux: 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.
Global Benelux
Largest movements
- Receivables within one year +€177,201
up €177,201 (+97.7%), from €181,440 to €358,641
of which Trade receivables: +€190,672
- Cash -€73,891
down €73,891 (-39.4%), from €187,430 to €113,539
mainly Receivables within one year (-€177,201) and Accrued charges and deferred income (-€11,317)
- Deferred charges and accrued income -€57,482
down €57,482 (-29.5%), from €194,550 to €137,068
- Trade debts +€48,508
up €48,508 (+18.0%), from €270,136 to €318,644
- Reserves +€15,000
up €15,000 (+25.8%), from €58,150 to €73,150
of which Distributable reserves: +€15,000
- Accrued charges and deferred income -€11,317
down €11,317 (-15.2%), from €74,348 to €63,031
- Tax, wage and social debts -€7,759
down €7,759 (-23.2%), from €33,490 to €25,731
of which Remuneration and social security: -€8,963
- Staff costs +€40,796
up €40,796 (+21.2%), from €192,306 to €233,103
- Gross operating margin +€31,002
up €31,002 (+13.0%), from €237,892 to €268,894
- Other operating charges -€12,447
down €12,447 (-81.6%), from €15,261 to €2,814
- Taxes +€2,849
up €2,849 (+28.3%), from €10,054 to €12,904
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 | €564,366 | €609,752 | +€45,386 | +8.0% |
| Fixed assets | 21/28 | €946 | €504 | -€442 | -46.7% |
| Tangible fixed assets | 22/27 | €946 | €504 | -€442 | -46.7% |
| Plant, machinery and equipment | 23 | €946 | €504 | -€442 | -46.7% |
| Current assets | 29/58 | €563,420 | €609,248 | +€45,828 | +8.1% |
| Amounts receivable within one year | 40/41 | €181,440 | €358,641 | +€177,201 | +97.7% |
| Trade receivables | 40 | €167,341 | €358,013 | +€190,672 | +114% |
| Other amounts receivable | 41 | €14,098 | €627 | -€13,471 | -95.5% |
| Cash at bank and in hand | 54/58 | €187,430 | €113,539 | -€73,891 | -39.4% |
| Deferred charges and accrued income | 490/1 | €194,550 | €137,068 | -€57,482 | -29.5% |
| Total equity and liabilities | 10/49 | €564,366 | €609,752 | +€45,386 | +8.0% |
| Equity | 10/15 | €179,319 | €195,369 | +€16,049 | +9.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €58,150 | €73,150 | +€15,000 | +25.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €52,000 | €67,000 | +€15,000 | +28.8% |
| Profit (loss) carried forward | 14 | €59,669 | €60,719 | +€1,049 | +1.8% |
| Amounts payable | 17/49 | €385,046 | €414,383 | +€29,337 | +7.6% |
| Amounts payable within one year | 42/48 | €310,698 | €351,353 | +€40,654 | +13.1% |
| Trade debts | 44 | €270,136 | €318,644 | +€48,508 | +18.0% |
| Suppliers | 440/4 | €270,136 | €318,644 | +€48,508 | +18.0% |
| Taxes, remuneration and social security | 45 | €33,490 | €25,731 | -€7,759 | -23.2% |
| Taxes | 450/3 | €1,700 | €2,904 | +€1,204 | +70.8% |
| Remuneration and social security | 454/9 | €31,790 | €22,827 | -€8,963 | -28.2% |
| Other amounts payable | 47/48 | €7,072 | €6,977 | -€95 | -1.3% |
| Accrued charges and deferred income | 492/3 | €74,348 | €63,031 | -€11,317 | -15.2% |
| Remuneration, social security and pensions | 62 | €192,306 | €233,103 | +€40,796 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €763 | €442 | -€322 | -42.1% |
| Other operating charges | 640/8 | €15,261 | €2,814 | -€12,447 | -81.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €237,892 | €268,894 | +€31,002 | +13.0% |
| Operating profit (loss) | 9901 | €29,562 | €32,537 | +€2,975 | +10.1% |
| Financial income | 75/76B | €552 | €37 | -€515 | -93.2% |
| Recurring financial income | 75 | €552 | €37 | -€515 | -93.2% |
| Financial charges | 65/66B | €2,745 | €3,621 | +€876 | +31.9% |
| Recurring financial charges | 65 | €2,745 | €3,621 | +€876 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €27,369 | €28,953 | +€1,584 | +5.8% |
| Income taxes | 67/77 | €10,054 | €12,904 | +€2,849 | +28.3% |
| Profit (loss) for the period | 9904 | €17,315 | €16,049 | -€1,265 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,315 | €16,049 | -€1,265 | -7.3% |
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 25 October 2026 via checked.be.