GLOBAL NEXUS: 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.
What changed
GLOBAL NEXUS
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · €986,313-€2.2m
Equity
€5.1m
2024 · €6.4m-€1.2m
Cash
€432,718
2024 · €1.3m-€894,710
Balance sheet total
€50.3m
2024 · €53.4m-€3.1m
Largest movements
Assets
- Cash -€894,710
down €894,710 (-67.4%), from €1.3m to €432,718
mainly Current portion of long-term debt (-€3.3m) and Net result for the year (-€1.2m)
- Stocks and contracts -€847,587
down €847,587 (-8.3%), from €10.3m to €9.4m
- Receivables within one year -€700,579
down €700,579 (-5.3%), from €13.2m to €12.5m
of which Other amounts receivable: -€650,669
Equity and liabilities
- Current portion of long-term debt -€3.3m
down €3.3m (-88.1%), from €3.7m to €442,201
- Short-term financial debts +€2.1m
up €2.1m (+18.9%), from €11.2m to €13.3m
- Reserves -€1.2m
down €1.2m (-19.6%), from €6.3m to €5.1m
of which Distributable reserves: -€1.1m
Income statement
- Turnover -€8.5m
down €8.5m (-71.0%), from €12.0m to €3.5m
- Goods and materials -€6.1m
down €6.1m (-80.5%), from €7.6m to €1.5m
of which Purchases: -€4.3m
- Services and other goods -€643,449
down €643,449 (-49.9%), from €1.3m to €644,861
- Financial charges -€483,626
down €483,626 (-20.1%), from €2.4m to €1.9m
- Financial income -€457,519
down €457,519 (-42.6%), from €1.1m to €615,227
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
€986,313
Turnover
-€8.5m
Other operating income
-€264,793
Goods and materials
+€6.1m
Services and other goods
+€643,449
Depreciation
-€72,696
Write-downs
-€7,327
Provisions
-€314,307
Other operating charges
-€85,832
Financial income
-€457,519
Financial charges
+€483,626
Taxes
+€249,040
Deferred taxes and other
+€82
Result 2025
-€1.2m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€1.2m
Investment
-€457,272
Financing
-€1.6m
Cash 2024
€1.3m
From operations (derived)
+€1.2m
Net result for the year
-€1.2m
Depreciation
+€966,930
Stocks and contracts
+€847,587
Receivables within one year
+€700,579
Deferred charges and accrued income
+€123,634
Provisions
-€53,548
Trade debts
-€129,079
Tax, wage and social debts
-€141,012
Advances received
-€10,089
Other debts
+€100,238
Accrued charges and deferred income
-€20,086
Investment (derived)
-€457,272
Investment in fixed assets (net)
-€457,272
Financing
-€1.6m
Debts after one year
-€433,901
Current portion of long-term debt
-€3.3m
Short-term financial debts
+€2.1m
Cash 2025
€432,718
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,378,122 | €50,301,954 | -€3.1m | -5.8% |
| Fixed assets | 21/28 | €26,136,758 | €25,627,100 | -€509,658 | -1.9% |
| Tangible fixed assets | 22/27 | €14,142,206 | €13,681,274 | -€460,933 | -3.3% |
| Land and buildings | 22 | €13,825,446 | €13,387,773 | -€437,673 | -3.2% |
| Plant, machinery and equipment | 23 | €268,742 | €235,992 | -€32,750 | -12.2% |
| Furniture and vehicles | 24 | €48,019 | €57,509 | +€9,490 | +19.8% |
| Financial fixed assets | 28 | €11,994,552 | €11,945,826 | -€48,726 | -0.4% |
| Affiliated companies | 280/1 | €11,945,826 | €11,945,826 | = | 0.0% |
| Participating interests | 280 | €11,945,826 | €11,945,826 | = | 0.0% |
| Other financial fixed assets | 284/8 | €48,726 | €0 | -€48,726 | -100% |
| Amounts receivable and cash guarantees | 285/8 | €48,726 | €0 | -€48,726 | -100% |
| Current assets | 29/58 | €27,241,364 | €24,674,854 | -€2.6m | -9.4% |
| Stocks and contracts in progress | 3 | €10,268,807 | €9,421,219 | -€847,587 | -8.3% |
| Stocks | 30/36 | €10,268,807 | €9,421,219 | -€847,587 | -8.3% |
| Property held for sale | 35 | €10,268,807 | €9,421,219 | -€847,587 | -8.3% |
| Amounts receivable within one year | 40/41 | €13,230,052 | €12,529,473 | -€700,579 | -5.3% |
| Trade receivables | 40 | €563,812 | €513,902 | -€49,910 | -8.9% |
| Other amounts receivable | 41 | €12,666,241 | €12,015,571 | -€650,669 | -5.1% |
| Cash at bank and in hand | 54/58 | €1,327,428 | €432,718 | -€894,710 | -67.4% |
| Deferred charges and accrued income | 490/1 | €2,415,077 | €2,291,443 | -€123,634 | -5.1% |
| Total equity and liabilities | 10/49 | €53,378,122 | €50,301,954 | -€3.1m | -5.8% |
| Equity | 10/15 | €6,350,660 | €5,118,125 | -€1.2m | -19.4% |
| 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 | €6,288,660 | €5,056,125 | -€1.2m | -19.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,391,627 | €2,230,983 | -€160,644 | -6.7% |
| Distributable reserves | 133 | €3,890,833 | €2,818,942 | -€1.1m | -27.5% |
| Provisions and deferred taxes | 16 | €656,876 | €603,328 | -€53,548 | -8.2% |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Deferred taxes | 168 | €656,876 | €603,328 | -€53,548 | -8.2% |
| Amounts payable | 17/49 | €46,370,587 | €44,580,501 | -€1.8m | -3.9% |
| Amounts payable after more than one year | 17 | €7,014,521 | €6,580,620 | -€433,901 | -6.2% |
| Financial debts | 170/4 | €6,999,521 | €6,557,320 | -€442,201 | -6.3% |
| Subordinated loans | 170 | €5,000,000 | €5,000,000 | = | 0.0% |
| Credit institutions | 173 | €1,999,521 | €1,557,320 | -€442,201 | -22.1% |
| Other amounts payable | 178/9 | €15,000 | €23,300 | +€8,300 | +55.3% |
| Amounts payable within one year | 42/48 | €37,568,600 | €36,232,501 | -€1.3m | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €3,709,598 | €442,201 | -€3.3m | -88.1% |
| Financial debts | 43 | €11,180,000 | €13,291,240 | +€2.1m | +18.9% |
| Credit institutions | 430/8 | €11,180,000 | €13,291,240 | +€2.1m | +18.9% |
| Trade debts | 44 | €1,539,444 | €1,410,365 | -€129,079 | -8.4% |
| Suppliers | 440/4 | €1,539,444 | €1,410,365 | -€129,079 | -8.4% |
| Advances received on contracts in progress | 46 | €10,089 | €0 | -€10,089 | -100% |
| Taxes, remuneration and social security | 45 | €143,609 | €2,597 | -€141,012 | -98.2% |
| Taxes | 450/3 | €143,609 | €2,597 | -€141,012 | -98.2% |
| Other amounts payable | 47/48 | €20,985,859 | €21,086,097 | +€100,238 | +0.5% |
| Accrued charges and deferred income | 492/3 | €1,787,467 | €1,767,381 | -€20,086 | -1.1% |
| Operating income | 70/76A | €13,069,846 | €4,289,350 | -€8.8m | -67.2% |
| Turnover | 70 | €11,991,061 | €3,475,358 | -€8.5m | -71.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | - | = | |
| Other operating income | 74 | €1,078,785 | €813,993 | -€264,793 | -24.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €10,320,368 | €4,033,949 | -€6.3m | -60.9% |
| Goods for resale, raw materials and consumables | 60 | €7,603,834 | €1,480,701 | -€6.1m | -80.5% |
| Purchases | 600/8 | €4,974,979 | €633,114 | -€4.3m | -87.3% |
| Change in stocks: decrease (increase) | 609 | €2,628,855 | €847,587 | -€1.8m | -67.8% |
| Services and other goods | 61 | €1,288,310 | €644,861 | -€643,449 | -49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €894,234 | €966,930 | +€72,696 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,327 | €0 | +€7,327 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€314,307 | €0 | +€314,307 | |
| Other operating charges | 640/8 | €855,624 | €941,456 | +€85,832 | +10.0% |
| Operating profit (loss) | 9901 | €2,749,478 | €255,401 | -€2.5m | -90.7% |
| Financial income | 75/76B | €1,072,746 | €615,227 | -€457,519 | -42.6% |
| Recurring financial income | 75 | €1,072,746 | €615,227 | -€457,519 | -42.6% |
| Income from current assets | 751 | €1,052,347 | €610,520 | -€441,827 | -42.0% |
| Other financial income | 752/9 | €20,399 | €4,707 | -€15,692 | -76.9% |
| Financial charges | 65/66B | €2,402,842 | €1,919,216 | -€483,626 | -20.1% |
| Recurring financial charges | 65 | €2,402,842 | €1,919,216 | -€483,626 | -20.1% |
| Debt charges | 650 | €2,381,504 | €1,895,484 | -€486,021 | -20.4% |
| Other financial charges | 652/9 | €21,337 | €23,732 | +€2,395 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €1,419,382 | -€1,048,588 | -€2.5m | |
| Transfer from deferred taxes | 780 | €53,466 | €53,548 | +€82 | +0.2% |
| Income taxes | 67/77 | €486,535 | €237,495 | -€249,040 | -51.2% |
| Taxes | 670/3 | €563,626 | €237,495 | -€326,131 | -57.9% |
| Tax adjustments and reversals of tax provisions | 77 | €77,091 | €0 | -€77,091 | -100% |
| Profit (loss) for the period | 9904 | €986,313 | -€1,232,535 | -€2.2m | |
| Transfer from tax-exempt reserves | 789 | €160,398 | €160,644 | +€245 | +0.2% |
| Transfer to tax-exempt reserves | 689 | €421,000 | €0 | -€421,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €725,711 | -€1,071,891 | -€1.8m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.