GLOBAL PROTECTION SERVICES: 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 PROTECTION SERVICES
Largest movements
- Receivables within one year +€67,855
up €67,855 (+1,312%), from €5,171 to €73,026
of which Trade receivables: +€66,717
- Cash +€28,084
up €28,084 (+260%), from €10,793 to €38,876
mainly Net result for the year (+€85,766) and Tax, wage and social debts (+€8,659)
- Tangible fixed assets +€5,382
new in 2025: €5,382
- Reserves +€75,340
up €75,340 (+370%), from €20,359 to €95,700
- Profit (loss) carried forward +€10,426
up €10,426, from -€10,426 to €0
- Tax, wage and social debts +€8,659
new in 2025: €8,659
- Trade debts +€6,202
up €6,202 (+241%), from €2,573 to €8,775
- Gross operating margin +€124,202
up €124,202, from -€2,656 to €121,545
- Taxes +€33,436
new in 2025: €33,436
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,089 | €130,409 | +€101,320 | +348% |
| Fixed assets | 21/28 | - | €5,382 | +€5,382 | |
| Tangible fixed assets | 22/27 | - | €5,382 | +€5,382 | |
| Furniture and vehicles | 24 | - | €5,382 | +€5,382 | |
| Current assets | 29/58 | €29,089 | €125,027 | +€95,939 | +330% |
| Stocks and contracts in progress | 3 | €13,125 | €13,125 | = | 0.0% |
| Stocks | 30/36 | €13,125 | €13,125 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,171 | €73,026 | +€67,855 | +1,312% |
| Trade receivables | 40 | €1,999 | €68,716 | +€66,717 | +3,338% |
| Other amounts receivable | 41 | €3,172 | €4,310 | +€1,138 | +35.9% |
| Cash at bank and in hand | 54/58 | €10,793 | €38,876 | +€28,084 | +260% |
| Total equity and liabilities | 10/49 | €29,089 | €130,409 | +€101,320 | +348% |
| Equity | 10/15 | €16,131 | €101,897 | +€85,766 | +532% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €20,359 | €95,700 | +€75,340 | +370% |
| Distributable reserves | 133 | €20,359 | €95,700 | +€75,340 | +370% |
| Profit (loss) carried forward | 14 | -€10,426 | €0 | +€10,426 | |
| Amounts payable | 17/49 | €12,958 | €28,512 | +€15,555 | +120% |
| Amounts payable within one year | 42/48 | €12,958 | €28,512 | +€15,555 | +120% |
| Trade debts | 44 | €2,573 | €8,775 | +€6,202 | +241% |
| Suppliers | 440/4 | €2,573 | €8,775 | +€6,202 | +241% |
| Taxes, remuneration and social security | 45 | - | €8,659 | +€8,659 | |
| Taxes | 450/3 | - | €8,659 | +€8,659 | |
| Other amounts payable | 47/48 | €10,385 | €11,079 | +€694 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €988 | +€988 | |
| Other operating charges | 640/8 | €387 | €405 | +€18 | +4.6% |
| Gross operating margin | 9900 | -€2,656 | €121,545 | +€124,202 | |
| Operating profit (loss) | 9901 | -€3,043 | €120,153 | +€123,196 | |
| Financial charges | 65/66B | €135 | €951 | +€815 | +604% |
| Recurring financial charges | 65 | €135 | €951 | +€815 | +604% |
| Profit (loss) for the period before taxes | 9903 | -€3,179 | €119,202 | +€122,381 | |
| Income taxes | 67/77 | - | €33,436 | +€33,436 | |
| Profit (loss) for the period | 9904 | -€3,179 | €85,766 | +€88,944 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,179 | €85,766 | +€88,944 |
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 25 October 2026 via checked.be.