Global Development Solutions: what changed
What changed
Global Development Solutions
NACE 68.122, Development of non-residential building projects
filed annual accounts (NBB)
Net result for the year
€339,759
2024 · €559,865-€220,106
Equity
€1.6m
2024 · €1.3m+€339,759
Cash
€475,652
2024 · €163,509+€312,143
Balance sheet total
€2.4m
2024 · €2.1m+€284,740
Largest movements
Assets
- Cash +€312,143
up €312,143 (+191%), from €163,509 to €475,652
mainly Net result for the year (+€339,759) and Trade debts (+€46,510)
- Receivables within one year -€26,812
down €26,812 (-4.9%), from €543,501 to €516,689
of which Other amounts receivable: -€14,250
Equity and liabilities
- Reserves +€339,759
up €339,759 (+37.0%), from €917,902 to €1.3m
of which Distributable reserves: +€339,759
- Debts after one year -€105,562
down €105,562 (-100%), from €105,562 to €0
- Trade debts +€46,510
up €46,510 (+11.1%), from €419,378 to €465,888
Income statement
- Turnover -€1.6m
no longer reported in 2025 (was €1.6m)
- Goods and materials -€888,126
no longer reported in 2025 (was €888,126)
of which Purchases: -€1.5m
- Gross operating margin +€476,772
new in 2025: €476,772
- Services and other goods -€179,327
no longer reported in 2025 (was €179,327)
- Other operating income -€156,254
no longer reported in 2025 (was €156,254)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€559,865
Turnover
-€1.6m
Other operating income
-€156,254
Goods and materials
+€888,126
Services and other goods
+€179,327
Other operating charges
+€580
Other operating items
+€476,772
Financial income
-€2,496
Financial charges
+€16,228
Taxes
-€25,041
Result 2025
€339,759
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€417,706
Investment
€0
Financing
-€105,562
Cash 2024
€163,509
From operations (derived)
+€417,706
Net result for the year
+€339,759
Smaller working-capital items
+€592
Receivables within one year
+€26,812
Trade debts
+€46,510
Accrued charges and deferred income
+€4,033
Financing
-€105,562
Debts after one year
-€105,562
Cash 2025
€475,652
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,145,551 | €2,430,291 | +€284,740 | +13.3% |
| Current assets | 29/58 | €2,145,551 | €2,430,291 | +€284,740 | +13.3% |
| Stocks and contracts in progress | 3 | €1,373,159 | €1,373,087 | -€72 | 0.0% |
| Stocks | 30/36 | €1,373,159 | €1,373,087 | -€72 | 0.0% |
| Property held for sale | 35 | €1,373,159 | - | -€1.4m | |
| Amounts receivable within one year | 40/41 | €543,501 | €516,689 | -€26,812 | -4.9% |
| Trade receivables | 40 | €13,790 | €1,228 | -€12,562 | -91.1% |
| Other amounts receivable | 41 | €529,711 | €515,461 | -€14,250 | -2.7% |
| Cash at bank and in hand | 54/58 | €163,509 | €475,652 | +€312,143 | +191% |
| Deferred charges and accrued income | 490/1 | €65,382 | €64,863 | -€519 | -0.8% |
| Total equity and liabilities | 10/49 | €2,145,551 | €2,430,291 | +€284,740 | +13.3% |
| Equity | 10/15 | €1,286,502 | €1,626,261 | +€339,759 | +26.4% |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €917,902 | €1,257,661 | +€339,759 | +37.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €917,902 | €1,257,661 | +€339,759 | +37.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €859,049 | €804,030 | -€55,019 | -6.4% |
| Amounts payable after more than one year | 17 | €105,562 | €0 | -€105,562 | -100% |
| Financial debts | 170/4 | €105,562 | €0 | -€105,562 | -100% |
| Credit institutions | 173 | €105,562 | - | -€105,562 | |
| Amounts payable within one year | 42/48 | €739,378 | €785,888 | +€46,510 | +6.3% |
| Trade debts | 44 | €419,378 | €465,888 | +€46,510 | +11.1% |
| Suppliers | 440/4 | €419,378 | €465,888 | +€46,510 | +11.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €320,000 | €320,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,108 | €18,142 | +€4,033 | +28.6% |
| Operating income | 70/76A | €1,753,602 | - | -€1.8m | |
| Turnover | 70 | €1,597,348 | - | -€1.6m | |
| Other operating income | 74 | €156,254 | - | -€156,254 | |
| Operating charges | 60/66A | €1,071,058 | - | -€1.1m | |
| Goods for resale, raw materials and consumables | 60 | €888,126 | - | -€888,126 | |
| Purchases | 600/8 | €1,464,829 | - | -€1.5m | |
| Change in stocks: decrease (increase) | 609 | -€576,703 | - | +€576,703 | |
| Services and other goods | 61 | €179,327 | - | -€179,327 | |
| Other operating charges | 640/8 | €3,606 | €3,025 | -€580 | -16.1% |
| Gross operating margin | 9900 | - | €476,772 | +€476,772 | |
| Operating profit (loss) | 9901 | €682,544 | €473,747 | -€208,797 | -30.6% |
| Financial income | 75/76B | €3,408 | €912 | -€2,496 | -73.3% |
| Recurring financial income | 75 | €3,408 | €912 | -€2,496 | -73.3% |
| Income from current assets | 751 | €991 | - | -€991 | |
| Other financial income | 752/9 | €2,416 | - | -€2,416 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €37,801 | €21,573 | -€16,228 | -42.9% |
| Recurring financial charges | 65 | €37,801 | €21,573 | -€16,228 | -42.9% |
| Debt charges | 650 | €35,343 | - | -€35,343 | |
| Other financial charges | 652/9 | €2,458 | - | -€2,458 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €648,151 | €453,085 | -€195,066 | -30.1% |
| Income taxes | 67/77 | €88,286 | €113,326 | +€25,041 | +28.4% |
| Taxes | 670/3 | €88,297 | - | -€88,297 | |
| Tax adjustments and reversals of tax provisions | 77 | €12 | - | -€12 | |
| Profit (loss) for the period | 9904 | €559,865 | €339,759 | -€220,106 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €559,865 | €339,759 | -€220,106 | -39.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.