GLOBAL MARE: 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.
What changed
GLOBAL MARE
NACE 55.100, Hotels and similar accommodation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6,798
2024 · €13,783-€6,985
Equity
€1.3m
2024 · €1.3m+€6,798
Cash
€349,189
2024 · €106,550+€242,639
Balance sheet total
€3.1m
2024 · €2.9m+€191,301
Largest movements
Assets
- Cash +€242,639
up €242,639 (+227.7%), from €106,550 to €349,189
mainly Accrued charges and deferred income (+€157,908) and Depreciation (+€69,597)
- Tangible fixed assets -€64,030
down €64,030 (-2.3%), from €2.7m to €2.7m
of which Land and buildings: -€65,331
Equity and liabilities
- Accrued charges and deferred income +€157,908
up €157,908 (+11801.8%), from €1,338 to €159,246
Income statement
- Gross operating margin -€23,787
down €23,787 (-8.0%), from €296,753 to €272,966
- Financial charges -€20,309
down €20,309 (-22.8%), from €89,208 to €68,899
- Staff costs +€17,146
up €17,146 (+18.0%), from €95,485 to €112,631
- Depreciation -€10,537
down €10,537 (-13.1%), from €80,134 to €69,597
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.
Result 2024
€13,783
Gross operating margin
-€23,787
Staff costs
-€17,146
Depreciation
+€10,537
Other operating charges
+€845
Financial income
+€63
Financial charges
+€20,309
Taxes
+€2,201
Deferred taxes and other
-€7
Result 2025
€6,798
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.
From operations
+€248,206
Investment
-€5,567
Financing
€0
Cash 2024
€106,550
From operations (derived)
+€248,206
Net result for the year
+€6,798
Depreciation
+€69,597
Stocks and contracts
+€12,212
Receivables within one year
-€25,500
Deferred charges and accrued income
+€596
Provisions
-€848
Trade debts
+€2,825
Tax, wage and social debts
-€1,621
Advances received
+€15,610
Other debts
+€10,629
Accrued charges and deferred income
+€157,908
Investment (derived)
-€5,567
Investment in fixed assets (net)
-€5,567
Cash 2025
€349,189
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,912,167 | €3,103,468 | +€191,301 | +6.6% |
| Fixed assets | 21/28 | €2,736,875 | €2,672,845 | -€64,030 | -2.3% |
| Tangible fixed assets | 22/27 | €2,736,875 | €2,672,845 | -€64,030 | -2.3% |
| Land and buildings | 22 | €2,724,904 | €2,659,573 | -€65,331 | -2.4% |
| Plant, machinery and equipment | 23 | - | €3,294 | +€3,294 | |
| Furniture and vehicles | 24 | €11,971 | €9,978 | -€1,993 | -16.6% |
| Current assets | 29/58 | €175,292 | €430,623 | +€255,331 | +145.7% |
| Stocks and contracts in progress | 3 | €14,367 | €2,155 | -€12,212 | -85.0% |
| Stocks | 30/36 | €14,367 | €2,155 | -€12,212 | -85.0% |
| Amounts receivable within one year | 40/41 | €49,348 | €74,848 | +€25,500 | +51.7% |
| Trade receivables | 40 | €1,131 | €21,495 | +€20,364 | +1800.5% |
| Other amounts receivable | 41 | €48,217 | €53,353 | +€5,136 | +10.7% |
| Cash at bank and in hand | 54/58 | €106,550 | €349,189 | +€242,639 | +227.7% |
| Deferred charges and accrued income | 490/1 | €5,027 | €4,431 | -€596 | -11.9% |
| Total equity and liabilities | 10/49 | €2,912,167 | €3,103,468 | +€191,301 | +6.6% |
| Equity | 10/15 | €1,332,732 | €1,339,530 | +€6,798 | +0.5% |
| 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% |
| Revaluation surpluses | 12 | €840,000 | €840,000 | = | 0.0% |
| Reserves | 13 | €430,732 | €437,530 | +€6,798 | +1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,657 | €2,639 | -€2,018 | -43.3% |
| Distributable reserves | 133 | €419,875 | €428,691 | +€8,816 | +2.1% |
| Provisions and deferred taxes | 16 | €1,956 | €1,108 | -€848 | -43.4% |
| Deferred taxes | 168 | €1,956 | €1,108 | -€848 | -43.4% |
| Amounts payable | 17/49 | €1,577,479 | €1,762,830 | +€185,351 | +11.7% |
| Amounts payable within one year | 42/48 | €1,576,141 | €1,603,584 | +€27,443 | +1.7% |
| Financial debts | 43 | €1,275,000 | €1,275,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,275,000 | €1,275,000 | = | 0.0% |
| Trade debts | 44 | €9,406 | €12,231 | +€2,825 | +30.0% |
| Suppliers | 440/4 | €9,406 | €12,231 | +€2,825 | +30.0% |
| Advances received on contracts in progress | 46 | - | €15,610 | +€15,610 | |
| Taxes, remuneration and social security | 45 | €1,838 | €217 | -€1,621 | -88.2% |
| Taxes | 450/3 | €1,838 | €217 | -€1,621 | -88.2% |
| Other amounts payable | 47/48 | €289,897 | €300,526 | +€10,629 | +3.7% |
| Accrued charges and deferred income | 492/3 | €1,338 | €159,246 | +€157,908 | +11801.8% |
| Remuneration, social security and pensions | 62 | €95,485 | €112,631 | +€17,146 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,134 | €69,597 | -€10,537 | -13.1% |
| Other operating charges | 640/8 | €13,263 | €12,418 | -€845 | -6.4% |
| Gross operating margin | 9900 | €296,753 | €272,966 | -€23,787 | -8.0% |
| Operating profit (loss) | 9901 | €107,871 | €78,320 | -€29,551 | -27.4% |
| Financial income | 75/76B | €18 | €81 | +€63 | +350.0% |
| Recurring financial income | 75 | €18 | €81 | +€63 | +350.0% |
| Financial charges | 65/66B | €89,208 | €68,899 | -€20,309 | -22.8% |
| Recurring financial charges | 65 | €89,208 | €68,899 | -€20,309 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €18,681 | €9,502 | -€9,179 | -49.1% |
| Transfer from deferred taxes | 780 | €855 | €848 | -€7 | -0.8% |
| Income taxes | 67/77 | €5,753 | €3,552 | -€2,201 | -38.3% |
| Profit (loss) for the period | 9904 | €13,783 | €6,798 | -€6,985 | -50.7% |
| Transfer from tax-exempt reserves | 789 | €2,034 | €2,018 | -€16 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,817 | €8,816 | -€7,001 | -44.3% |
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 30 September 2026 via checked.be.