GLOBAL QUALITY TRUST: 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 QUALITY TRUST
Largest movements
- Cash +€35,428
up €35,428 (+56.3%), from €62,953 to €98,381
mainly Net result for the year (+€31,938) and Depreciation (+€20,955)
- Tangible fixed assets +€17,338
up €17,338 (+85.5%), from €20,280 to €37,618
of which Furniture and vehicles: +€16,290
- Receivables within one year +€2,379
up €2,379 (+8.1%), from €29,450 to €31,829
of which Other amounts receivable: +€2,490
- Profit (loss) carried forward +€31,938
up €31,938 (+47.0%), from €67,884 to €99,822
- Tax, wage and social debts +€17,956
up €17,956 (+103%), from €17,469 to €35,425
of which Taxes: +€15,189
- Trade debts +€5,797
up €5,797 (+23.4%), from €24,758 to €30,555
- Depreciation +€13,521
up €13,521 (+182%), from €7,434 to €20,955
- Gross operating margin +€12,335
up €12,335 (+23.0%), from €53,626 to €65,960
- Taxes +€1,298
up €1,298 (+13.0%), from €9,972 to €11,270
- Other operating charges +€1,297
up €1,297 (+368%), from €352 to €1,649
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 | €112,683 | €167,827 | +€55,144 | +48.9% |
| Fixed assets | 21/28 | €20,280 | €37,618 | +€17,338 | +85.5% |
| Tangible fixed assets | 22/27 | €20,280 | €37,618 | +€17,338 | +85.5% |
| Plant, machinery and equipment | 23 | €2,268 | €1,129 | -€1,139 | -50.2% |
| Furniture and vehicles | 24 | €13,270 | €29,560 | +€16,290 | +123% |
| Other tangible fixed assets | 26 | €4,742 | €6,928 | +€2,186 | +46.1% |
| Current assets | 29/58 | €92,403 | €130,209 | +€37,806 | +40.9% |
| Amounts receivable within one year | 40/41 | €29,450 | €31,829 | +€2,379 | +8.1% |
| Trade receivables | 40 | €29,440 | €29,329 | -€111 | -0.4% |
| Other amounts receivable | 41 | €10 | €2,500 | +€2,490 | +24,800% |
| Cash at bank and in hand | 54/58 | €62,953 | €98,381 | +€35,428 | +56.3% |
| Total equity and liabilities | 10/49 | €112,683 | €167,827 | +€55,144 | +48.9% |
| Equity | 10/15 | €69,884 | €101,822 | +€31,938 | +45.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,884 | €99,822 | +€31,938 | +47.0% |
| Amounts payable | 17/49 | €42,799 | €66,005 | +€23,206 | +54.2% |
| Amounts payable within one year | 42/48 | €42,799 | €66,005 | +€23,206 | +54.2% |
| Trade debts | 44 | €24,758 | €30,555 | +€5,797 | +23.4% |
| Suppliers | 440/4 | €24,758 | €30,555 | +€5,797 | +23.4% |
| Taxes, remuneration and social security | 45 | €17,469 | €35,425 | +€17,956 | +103% |
| Taxes | 450/3 | €14,898 | €30,087 | +€15,189 | +102% |
| Remuneration and social security | 454/9 | €2,571 | €5,338 | +€2,767 | +108% |
| Other amounts payable | 47/48 | €572 | €25 | -€547 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,434 | €20,955 | +€13,521 | +182% |
| Other operating charges | 640/8 | €352 | €1,649 | +€1,297 | +368% |
| Gross operating margin | 9900 | €53,626 | €65,960 | +€12,335 | +23.0% |
| Operating profit (loss) | 9901 | €45,840 | €43,357 | -€2,484 | -5.4% |
| Financial income | 75/76B | €127 | €10 | -€117 | -91.8% |
| Recurring financial income | 75 | €127 | €10 | -€117 | -91.8% |
| Financial charges | 65/66B | €130 | €159 | +€29 | +22.0% |
| Recurring financial charges | 65 | €130 | €159 | +€29 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €45,837 | €43,208 | -€2,629 | -5.7% |
| Income taxes | 67/77 | €9,972 | €11,270 | +€1,298 | +13.0% |
| Profit (loss) for the period | 9904 | €35,865 | €31,938 | -€3,927 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,865 | €31,938 | -€3,927 | -10.9% |
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 24 October 2026 via checked.be.