GLOBAL DEVELOPMENT SERVICES GROUP: what changed
Two fiscal 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 DEVELOPMENT SERVICES GROUP
Largest movements
- Cash +€33,931
up €33,931 (+390.6%), from €8,687 to €42,618
mainly Depreciation (+€25,574) and Net result for the year (+€22,780)
- Tangible fixed assets -€24,178
down €24,178 (-12.5%), from €193,527 to €169,349
of which Land and buildings: -€13,859
- Reserves +€22,780
up €22,780 (+17.3%), from €131,430 to €154,209
of which Distributable reserves: +€22,780
- Debts after one year -€9,477
down €9,477 (-27.7%), from €34,200 to €24,724
- Tax, wage and social debts -€3,884
down €3,884 (-32.8%), from €11,843 to €7,958
- Depreciation +€10,077
up €10,077 (+65.0%), from €15,497 to €25,574
- Financial income +€6,523
up €6,523 (+348.6%), from €1,871 to €8,394
of which Non-recurring financial income: +€6,787
- Taxes -€2,488
down €2,488 (-21.9%), from €11,374 to €8,886
- Gross operating margin -€2,296
down €2,296 (-4.1%), from €55,740 to €53,443
- Other operating charges +€1,116
up €1,116 (+44.4%), from €2,516 to €3,632
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.
Cash bridge derived
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 | €269,567 | €282,014 | +€12,447 | +4.6% |
| Fixed assets | 21/28 | €194,180 | €170,002 | -€24,178 | -12.5% |
| Tangible fixed assets | 22/27 | €193,527 | €169,349 | -€24,178 | -12.5% |
| Land and buildings | 22 | €164,442 | €150,583 | -€13,859 | -8.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €29,085 | €18,766 | -€10,319 | -35.5% |
| Financial fixed assets | 28 | €653 | €653 | = | 0.0% |
| Current assets | 29/58 | €75,387 | €112,012 | +€36,625 | +48.6% |
| Amounts receivable within one year | 40/41 | €65,772 | €68,182 | +€2,410 | +3.7% |
| Trade receivables | 40 | €25,223 | €24,823 | -€400 | -1.6% |
| Other amounts receivable | 41 | €40,548 | €43,359 | +€2,811 | +6.9% |
| Cash at bank and in hand | 54/58 | €8,687 | €42,618 | +€33,931 | +390.6% |
| Deferred charges and accrued income | 490/1 | €929 | €1,212 | +€284 | +30.5% |
| Total equity and liabilities | 10/49 | €269,567 | €282,014 | +€12,447 | +4.6% |
| Equity | 10/15 | €196,941 | €219,721 | +€22,780 | +11.6% |
| Contributions | 10/11 | €12,397 | €12,397 | = | 0.0% |
| Reserves | 13 | €131,430 | €154,209 | +€22,780 | +17.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €129,570 | €152,350 | +€22,780 | +17.6% |
| Profit (loss) carried forward | 14 | €53,114 | €53,114 | = | 0.0% |
| Amounts payable | 17/49 | €72,626 | €62,293 | -€10,333 | -14.2% |
| Amounts payable after more than one year | 17 | €34,200 | €24,724 | -€9,477 | -27.7% |
| Financial debts | 170/4 | €34,200 | €24,724 | -€9,477 | -27.7% |
| Amounts payable within one year | 42/48 | €38,224 | €36,323 | -€1,901 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €9,274 | €9,477 | +€203 | +2.2% |
| Financial debts | 43 | €2,367 | €2,690 | +€324 | +13.7% |
| Credit institutions | 430/8 | €2,367 | €2,690 | +€324 | +13.7% |
| Trade debts | 44 | €12,251 | €13,708 | +€1,457 | +11.9% |
| Suppliers | 440/4 | €12,251 | €13,708 | +€1,457 | +11.9% |
| Taxes, remuneration and social security | 45 | €11,843 | €7,958 | -€3,884 | -32.8% |
| Taxes | 450/3 | €11,843 | €7,958 | -€3,884 | -32.8% |
| Other amounts payable | 47/48 | €2,490 | €2,490 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €202 | €1,246 | +€1,044 | +518.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,497 | €25,574 | +€10,077 | +65.0% |
| Other operating charges | 640/8 | €2,516 | €3,632 | +€1,116 | +44.4% |
| Gross operating margin | 9900 | €55,740 | €53,443 | -€2,296 | -4.1% |
| Operating profit (loss) | 9901 | €37,726 | €24,236 | -€13,490 | -35.8% |
| Financial income | 75/76B | €1,871 | €8,394 | +€6,523 | +348.6% |
| Recurring financial income | 75 | €1,871 | €1,607 | -€264 | -14.1% |
| Non-recurring financial income | 76B | - | €6,787 | +€6,787 | |
| Financial charges | 65/66B | €698 | €965 | +€268 | +38.4% |
| Recurring financial charges | 65 | €698 | €965 | +€268 | +38.4% |
| Profit (loss) for the period before taxes | 9903 | €38,900 | €31,665 | -€7,234 | -18.6% |
| Income taxes | 67/77 | €11,374 | €8,886 | -€2,488 | -21.9% |
| Profit (loss) for the period | 9904 | €27,526 | €22,780 | -€4,746 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,526 | €22,780 | -€4,746 | -17.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.