GLOBAL EXPERT: 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 EXPERT
Largest movements
- Cash +€93,670
up €93,670 (+114.5%), from €81,808 to €175,478
mainly Net result for the year (+€87,527) and Other debts (+€60,398)
- Receivables within one year -€26,409
down €26,409 (-48.4%), from €54,619 to €28,211
of which Trade receivables: -€31,330
- Tangible fixed assets -€8,119
down €8,119 (-20.4%), from €39,706 to €31,587
of which Other tangible fixed assets: -€12,664
- Other debts +€60,398
up €60,398 (+169.0%), from €35,740 to €96,138
- Tax, wage and social debts +€11,450
up €11,450 (+67.4%), from €16,990 to €28,440
of which Taxes: +€7,623
- Trade debts -€10,415
down €10,415 (-25.0%), from €41,653 to €31,237
- Profit (loss) carried forward -€2,473
down €2,473 (-61.4%), from -€4,028 to -€6,501
- Gross operating margin +€108,522
up €108,522 (+143.5%), from €75,611 to €184,133
- Staff costs +€14,758
up €14,758 (+25.4%), from €58,182 to €72,940
- Taxes +€2,175
up €2,175 (+93.3%), from €2,330 to €4,505
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 | €176,403 | €235,546 | +€59,143 | +33.5% |
| Fixed assets | 21/28 | €39,706 | €31,587 | -€8,119 | -20.4% |
| Tangible fixed assets | 22/27 | €39,706 | €31,587 | -€8,119 | -20.4% |
| Furniture and vehicles | 24 | €549 | €5,094 | +€4,544 | +827.3% |
| Other tangible fixed assets | 26 | €39,157 | €26,494 | -€12,664 | -32.3% |
| Current assets | 29/58 | €136,697 | €203,959 | +€67,262 | +49.2% |
| Amounts receivable within one year | 40/41 | €54,619 | €28,211 | -€26,409 | -48.4% |
| Trade receivables | 40 | €52,691 | €21,361 | -€31,330 | -59.5% |
| Other amounts receivable | 41 | €1,928 | €6,850 | +€4,921 | +255.2% |
| Cash at bank and in hand | 54/58 | €81,808 | €175,478 | +€93,670 | +114.5% |
| Deferred charges and accrued income | 490/1 | €270 | €270 | = | 0.0% |
| Total equity and liabilities | 10/49 | €176,403 | €235,546 | +€59,143 | +33.5% |
| Equity | 10/15 | €81,941 | €79,468 | -€2,473 | -3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €23,968 | €23,968 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,218 | €5,218 | = | 0.0% |
| Legal reserve | 130 | €5,218 | €5,218 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,028 | -€6,501 | -€2,473 | -61.4% |
| Amounts payable | 17/49 | €94,463 | €156,078 | +€61,616 | +65.2% |
| Amounts payable within one year | 42/48 | €94,463 | €156,078 | +€61,616 | +65.2% |
| Financial debts | 43 | €79 | €263 | +€184 | +231.5% |
| Other loans | 439 | €79 | €263 | +€184 | +231.5% |
| Trade debts | 44 | €41,653 | €31,237 | -€10,415 | -25.0% |
| Suppliers | 440/4 | €41,653 | €31,237 | -€10,415 | -25.0% |
| Taxes, remuneration and social security | 45 | €16,990 | €28,440 | +€11,450 | +67.4% |
| Taxes | 450/3 | €7,158 | €14,782 | +€7,623 | +106.5% |
| Remuneration and social security | 454/9 | €9,832 | €13,659 | +€3,827 | +38.9% |
| Other amounts payable | 47/48 | €35,740 | €96,138 | +€60,398 | +169.0% |
| Remuneration, social security and pensions | 62 | €58,182 | €72,940 | +€14,758 | +25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,020 | €13,330 | +€310 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,380 | +€1,380 | |
| Other operating charges | 640/8 | €2,203 | €926 | -€1,277 | -58.0% |
| Non-recurring operating charges | 66A | - | €741 | +€741 | |
| Gross operating margin | 9900 | €75,611 | €184,133 | +€108,522 | +143.5% |
| Operating profit (loss) | 9901 | €2,206 | €94,816 | +€92,610 | +4198.0% |
| Financial income | 75/76B | €68 | €2 | -€65 | -96.4% |
| Recurring financial income | 75 | €68 | €2 | -€65 | -96.4% |
| Financial charges | 65/66B | €2,824 | €2,787 | -€38 | -1.3% |
| Recurring financial charges | 65 | €2,824 | €2,787 | -€38 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | -€550 | €92,032 | +€92,582 | |
| Income taxes | 67/77 | €2,330 | €4,505 | +€2,175 | +93.3% |
| Profit (loss) for the period | 9904 | -€2,880 | €87,527 | +€90,407 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,880 | €87,527 | +€90,407 |
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 6 October 2026 via checked.be.