Global Eco: 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 Eco
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+77.9%), from €1.9m to €3.5m
of which Land and buildings: +€1.5m
- Current investments +€223,118
up €223,118 (+22.3%), from €1.0m to €1.2m
- Cash +€219,403
up €219,403 (+684%), from €32,077 to €251,480
- Receivables within one year +€156,991
up €156,991 (+191%), from €82,061 to €239,052
of which Trade receivables: +€172,082
- Receivables after one year +€113,317
up €113,317 (+94.4%), from €120,000 to €233,317
- Reserves +€1.1m
up €1.1m (+49.6%), from €2.2m to €3.4m
of which Distributable reserves: +€1.1m
- Debts after one year +€878,198
up €878,198 (+105%), from €840,169 to €1.7m
of which Financial debts: +€881,038
- Tax, wage and social debts +€151,303
up €151,303 (+639%), from €23,687 to €174,990
of which Taxes: +€150,504
- Short-term financial debts +€69,836
up €69,836 (+230%), from €30,377 to €100,213
- Current portion of long-term debt +€60,138
up €60,138 (+71.1%), from €84,538 to €144,676
- Gross operating margin +€748,269
up €748,269 (+107%), from €698,356 to €1.4m
- Financial income +€584,583
up €584,583 (+303%), from €192,736 to €777,319
- Depreciation +€250,592
up €250,592 (+346%), from €72,445 to €323,037
- Taxes +€217,789
up €217,789 (+101%), from €214,634 to €432,423
- Financial charges +€27,547
up €27,547 (+113%), from €24,397 to €51,943
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,278,351 | €5,540,534 | +€2.3m | +69.0% |
| Fixed assets | 21/28 | €2,034,206 | €3,589,536 | +€1.6m | +76.5% |
| Tangible fixed assets | 22/27 | €1,947,948 | €3,465,649 | +€1.5m | +77.9% |
| Land and buildings | 22 | €1,882,029 | €3,380,737 | +€1.5m | +79.6% |
| Plant, machinery and equipment | 23 | €59,181 | €54,693 | -€4,488 | -7.6% |
| Furniture and vehicles | 24 | €6,738 | €30,219 | +€23,482 | +349% |
| Financial fixed assets | 28 | €86,258 | €123,887 | +€37,629 | +43.6% |
| Current assets | 29/58 | €1,244,145 | €1,950,998 | +€706,853 | +56.8% |
| Amounts receivable after more than one year | 29 | €120,000 | €233,317 | +€113,317 | +94.4% |
| Other amounts receivable | 291 | €120,000 | €233,317 | +€113,317 | +94.4% |
| Amounts receivable within one year | 40/41 | €82,061 | €239,052 | +€156,991 | +191% |
| Trade receivables | 40 | €66,049 | €238,130 | +€172,082 | +261% |
| Other amounts receivable | 41 | €16,012 | €922 | -€15,091 | -94.2% |
| Current investments | 50/53 | €1,001,811 | €1,224,929 | +€223,118 | +22.3% |
| Cash at bank and in hand | 54/58 | €32,077 | €251,480 | +€219,403 | +684% |
| Deferred charges and accrued income | 490/1 | €8,196 | €2,220 | -€5,976 | -72.9% |
| Total equity and liabilities | 10/49 | €3,278,351 | €5,540,534 | +€2.3m | +69.0% |
| Equity | 10/15 | €2,136,413 | €3,249,481 | +€1.1m | +52.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,246,152 | €3,359,219 | +€1.1m | +49.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €466,760 | €432,113 | -€34,646 | -7.4% |
| Distributable reserves | 133 | €1,777,532 | €2,927,106 | +€1.1m | +64.7% |
| Profit (loss) carried forward | 14 | -€128,338 | -€128,338 | = | 0.0% |
| Provisions and deferred taxes | 16 | €155,587 | €144,038 | -€11,549 | -7.4% |
| Deferred taxes | 168 | €155,587 | €144,038 | -€11,549 | -7.4% |
| Amounts payable | 17/49 | €986,351 | €2,147,015 | +€1.2m | +118% |
| Amounts payable after more than one year | 17 | €840,169 | €1,718,367 | +€878,198 | +105% |
| Financial debts | 170/4 | €837,329 | €1,718,367 | +€881,038 | +105% |
| Other amounts payable | 178/9 | €2,840 | €0 | -€2,840 | -100% |
| Amounts payable within one year | 42/48 | €142,053 | €428,498 | +€286,445 | +202% |
| Current portion of amounts payable after more than one year | 42 | €84,538 | €144,676 | +€60,138 | +71.1% |
| Financial debts | 43 | €30,377 | €100,213 | +€69,836 | +230% |
| Credit institutions | 430/8 | €30,377 | €100,213 | +€69,836 | +230% |
| Trade debts | 44 | €2,650 | €8,618 | +€5,968 | +225% |
| Suppliers | 440/4 | €2,650 | €8,618 | +€5,968 | +225% |
| Taxes, remuneration and social security | 45 | €23,687 | €174,990 | +€151,303 | +639% |
| Taxes | 450/3 | €19,139 | €169,643 | +€150,504 | +786% |
| Remuneration and social security | 454/9 | €4,548 | €5,347 | +€799 | +17.6% |
| Other amounts payable | 47/48 | €800 | €0 | -€800 | -100% |
| Accrued charges and deferred income | 492/3 | €4,129 | €150 | -€3,979 | -96.4% |
| Remuneration, social security and pensions | 62 | €11,370 | €18,719 | +€7,349 | +64.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,445 | €323,037 | +€250,592 | +346% |
| Other operating charges | 640/8 | €4,778 | €8,312 | +€3,533 | +73.9% |
| Gross operating margin | 9900 | €698,356 | €1,446,625 | +€748,269 | +107% |
| Operating profit (loss) | 9901 | €609,763 | €1,096,558 | +€486,795 | +79.8% |
| Financial income | 75/76B | €192,736 | €777,319 | +€584,583 | +303% |
| Recurring financial income | 75 | €192,736 | €777,319 | +€584,583 | +303% |
| Financial charges | 65/66B | €24,397 | €51,943 | +€27,547 | +113% |
| Recurring financial charges | 65 | €24,397 | €51,943 | +€27,547 | +113% |
| Profit (loss) for the period before taxes | 9903 | €778,103 | €1,821,934 | +€1.0m | +134% |
| Transfer from deferred taxes | 780 | €7,029 | €11,549 | +€4,519 | +64.3% |
| Income taxes | 67/77 | €214,634 | €432,423 | +€217,789 | +101% |
| Profit (loss) for the period | 9904 | €570,498 | €1,401,060 | +€830,562 | +146% |
| Transfer from tax-exempt reserves | 789 | €21,088 | €34,646 | +€13,558 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €591,586 | €1,435,706 | +€844,120 | +143% |
Source: filed annual accounts (NBB), financial years ended 30 November 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.