Global Rex 3: 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 Rex 3
Largest movements
- Cash +€129,028
up €129,028 (+506%), from €25,517 to €154,545
mainly Debts after one year (+€473,000) and Other debts (+€11,000)
- Debts after one year +€473,000
up €473,000 (+34.4%), from €1.4m to €1.8m
- Trade debts -€248,771
down €248,771 (-83.1%), from €299,490 to €50,719
- Profit (loss) carried forward -€51,730
down €51,730 (-62.0%), from -€83,469 to -€135,198
- Gross operating margin +€57,140
up €57,140 (+117%), from €48,709 to €105,849
- Financial charges +€36,337
up €36,337 (+32.2%), from €112,678 to €149,016
- Other operating charges -€10,879
down €10,879 (-54.6%), from €19,931 to €9,053
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 | €3,128,336 | €3,287,754 | +€159,418 | +5.1% |
| Current assets | 29/58 | €3,128,336 | €3,287,754 | +€159,418 | +5.1% |
| Stocks and contracts in progress | 3 | €3,083,043 | €3,115,152 | +€32,109 | +1.0% |
| Stocks | 30/36 | €3,083,043 | €3,115,152 | +€32,109 | +1.0% |
| Amounts receivable within one year | 40/41 | €12,264 | €17,281 | +€5,017 | +40.9% |
| Trade receivables | 40 | €1,653 | €4,703 | +€3,050 | +184% |
| Other amounts receivable | 41 | €10,610 | €12,578 | +€1,967 | +18.5% |
| Cash at bank and in hand | 54/58 | €25,517 | €154,545 | +€129,028 | +506% |
| Deferred charges and accrued income | 490/1 | €7,513 | €776 | -€6,737 | -89.7% |
| Total equity and liabilities | 10/49 | €3,128,336 | €3,287,754 | +€159,418 | +5.1% |
| Equity | 10/15 | -€63,469 | -€115,198 | -€51,730 | -81.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,469 | -€135,198 | -€51,730 | -62.0% |
| Amounts payable | 17/49 | €3,191,805 | €3,402,952 | +€211,147 | +6.6% |
| Amounts payable after more than one year | 17 | €1,373,045 | €1,846,045 | +€473,000 | +34.4% |
| Financial debts | 170/4 | €1,373,045 | €1,846,045 | +€473,000 | +34.4% |
| Amounts payable within one year | 42/48 | €1,692,089 | €1,428,219 | -€263,870 | -15.6% |
| Trade debts | 44 | €299,490 | €50,719 | -€248,771 | -83.1% |
| Suppliers | 440/4 | €299,490 | €50,719 | -€248,771 | -83.1% |
| Taxes, remuneration and social security | 45 | €26,099 | €0 | -€26,099 | -100% |
| Taxes | 450/3 | €26,099 | €0 | -€26,099 | -100% |
| Other amounts payable | 47/48 | €1,366,500 | €1,377,500 | +€11,000 | +0.8% |
| Accrued charges and deferred income | 492/3 | €126,671 | €128,688 | +€2,017 | +1.6% |
| Other operating charges | 640/8 | €19,931 | €9,053 | -€10,879 | -54.6% |
| Gross operating margin | 9900 | €48,709 | €105,849 | +€57,140 | +117% |
| Operating profit (loss) | 9901 | €28,778 | €96,797 | +€68,019 | +236% |
| Financial income | 75/76B | €432 | €490 | +€58 | +13.4% |
| Recurring financial income | 75 | €432 | €490 | +€58 | +13.4% |
| Financial charges | 65/66B | €112,678 | €149,016 | +€36,337 | +32.2% |
| Recurring financial charges | 65 | €112,678 | €149,016 | +€36,337 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | -€83,469 | -€51,730 | +€31,739 | +38.0% |
| Profit (loss) for the period | 9904 | -€83,469 | -€51,730 | +€31,739 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,469 | -€51,730 | +€31,739 | +38.0% |
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 22 October 2026 via checked.be.