GLOBAL CONNECT: 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 CONNECT
Largest movements
- Receivables within one year +€14,526
up €14,526 (+127%), from €11,477 to €26,003
of which Other amounts receivable: +€20,887
- Receivables after one year -€9,600
down €9,600 (-9.8%), from €97,600 to €88,000
- Deferred charges and accrued income +€8,629
up €8,629 (+10.3%), from €84,148 to €92,777
- Tangible fixed assets +€3,907
up €3,907 (+12.5%), from €31,324 to €35,231
of which Plant, machinery and equipment: +€3,907
- Profit (loss) carried forward +€25,985
up €25,985 (+47.0%), from -€55,239 to -€29,254
- Other debts -€16,002
down €16,002 (-71.3%), from €22,435 to €6,433
- Debts after one year +€10,023
up €10,023 (+16.5%), from €60,922 to €70,945
- Short-term financial debts -€4,471
down €4,471 (-17.4%), from €25,755 to €21,284
- Financial income +€9,042
up €9,042 (+253%), from €3,576 to €12,618
- Gross operating margin +€3,171
up €3,171 (+12.5%), from €25,387 to €28,558
- Financial charges +€1,607
up €1,607 (+13.1%), from €12,241 to €13,848
of which Non-recurring financial charges: +€2,000
- Other operating charges -€1,082
down €1,082 (-62.5%), from €1,731 to €649
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 | €237,773 | €252,921 | +€15,148 | +6.4% |
| Fixed assets | 21/28 | €36,335 | €37,817 | +€1,482 | +4.1% |
| Intangible fixed assets | 21 | €3,011 | €2,586 | -€425 | -14.1% |
| Tangible fixed assets | 22/27 | €31,324 | €35,231 | +€3,907 | +12.5% |
| Land and buildings | 22 | €31,324 | €31,324 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €3,907 | +€3,907 | |
| Financial fixed assets | 28 | €2,000 | - | -€2,000 | |
| Current assets | 29/58 | €201,438 | €215,104 | +€13,666 | +6.8% |
| Amounts receivable after more than one year | 29 | €97,600 | €88,000 | -€9,600 | -9.8% |
| Other amounts receivable | 291 | €97,600 | €88,000 | -€9,600 | -9.8% |
| Stocks and contracts in progress | 3 | €8,202 | €8,030 | -€172 | -2.1% |
| Stocks | 30/36 | €8,202 | €8,030 | -€172 | -2.1% |
| Amounts receivable within one year | 40/41 | €11,477 | €26,003 | +€14,526 | +127% |
| Trade receivables | 40 | €11,477 | €5,117 | -€6,361 | -55.4% |
| Other amounts receivable | 41 | - | €20,887 | +€20,887 | |
| Cash at bank and in hand | 54/58 | €11 | €294 | +€283 | +2,528% |
| Deferred charges and accrued income | 490/1 | €84,148 | €92,777 | +€8,629 | +10.3% |
| Total equity and liabilities | 10/49 | €237,773 | €252,921 | +€15,148 | +6.4% |
| Equity | 10/15 | €110,453 | €136,438 | +€25,985 | +23.5% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Reserves | 13 | €692 | €692 | = | 0.0% |
| Distributable reserves | 133 | €692 | €692 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,239 | -€29,254 | +€25,985 | +47.0% |
| Amounts payable | 17/49 | €127,320 | €116,484 | -€10,836 | -8.5% |
| Amounts payable after more than one year | 17 | €60,922 | €70,945 | +€10,023 | +16.5% |
| Financial debts | 170/4 | €60,922 | €70,945 | +€10,023 | +16.5% |
| Amounts payable within one year | 42/48 | €63,883 | €45,538 | -€18,345 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €8,887 | €8,163 | -€724 | -8.1% |
| Financial debts | 43 | €25,755 | €21,284 | -€4,471 | -17.4% |
| Credit institutions | 430/8 | €25,755 | €21,284 | -€4,471 | -17.4% |
| Trade debts | 44 | €5,269 | €6,048 | +€779 | +14.8% |
| Suppliers | 440/4 | €5,269 | €6,048 | +€779 | +14.8% |
| Taxes, remuneration and social security | 45 | €1,537 | €3,610 | +€2,073 | +135% |
| Taxes | 450/3 | €1,537 | €3,610 | +€2,073 | +135% |
| Other amounts payable | 47/48 | €22,435 | €6,433 | -€16,002 | -71.3% |
| Accrued charges and deferred income | 492/3 | €2,515 | - | -€2,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €425 | €514 | +€89 | +21.0% |
| Other operating charges | 640/8 | €1,731 | €649 | -€1,082 | -62.5% |
| Gross operating margin | 9900 | €25,387 | €28,558 | +€3,171 | +12.5% |
| Operating profit (loss) | 9901 | €23,231 | €27,395 | +€4,163 | +17.9% |
| Financial income | 75/76B | €3,576 | €12,618 | +€9,042 | +253% |
| Recurring financial income | 75 | €3,576 | €12,618 | +€9,042 | +253% |
| Financial charges | 65/66B | €12,241 | €13,848 | +€1,607 | +13.1% |
| Recurring financial charges | 65 | €12,241 | €11,848 | -€393 | -3.2% |
| Non-recurring financial charges | 66B | - | €2,000 | +€2,000 | |
| Profit (loss) for the period before taxes | 9903 | €14,566 | €26,165 | +€11,599 | +79.6% |
| Income taxes | 67/77 | €196 | €180 | -€16 | -8.2% |
| Profit (loss) for the period | 9904 | €14,370 | €25,985 | +€11,615 | +80.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,370 | €25,985 | +€11,615 | +80.8% |
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.