GLOBAL SAFE: 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 SAFE
Largest movements
- Receivables within one year -€19,960
down €19,960 (-18.9%), from €105,828 to €85,867
of which Trade receivables: -€22,660
- Cash +€1,849
up €1,849 (+198%), from €932 to €2,781
mainly Receivables within one year (+€19,960) and Net result for the year (+€17,486)
- Deferred charges and accrued income -€1,303
down €1,303 (-40.5%), from €3,214 to €1,911
- Trade debts -€31,084
down €31,084 (-62.7%), from €49,598 to €18,514
- Profit (loss) carried forward +€17,486
up €17,486, from -€431 to €17,055
- Short-term financial debts -€10,056
down €10,056 (-52.7%), from €19,069 to €9,013
- Tax, wage and social debts +€6,878
up €6,878 (+35.7%), from €19,283 to €26,162
of which Taxes: +€5,365
- Current portion of long-term debt -€2,822
no longer reported in 2025 (was €2,822)
- Gross operating margin +€44,624
up €44,624 (+142%), from €31,348 to €75,972
- Staff costs +€12,053
up €12,053 (+45.3%), from €26,594 to €38,647
- Taxes +€9,605
up €9,605 (+255%), from €3,770 to €13,375
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 | €110,341 | €90,743 | -€19,598 | -17.8% |
| Fixed assets | 21/28 | €367 | €183 | -€183 | -50.0% |
| Tangible fixed assets | 22/27 | €367 | €183 | -€183 | -50.0% |
| Plant, machinery and equipment | 23 | €367 | €183 | -€183 | -50.0% |
| Current assets | 29/58 | €109,974 | €90,559 | -€19,414 | -17.7% |
| Amounts receivable within one year | 40/41 | €105,828 | €85,867 | -€19,960 | -18.9% |
| Trade receivables | 40 | €100,933 | €78,273 | -€22,660 | -22.5% |
| Other amounts receivable | 41 | €4,894 | €7,594 | +€2,699 | +55.2% |
| Cash at bank and in hand | 54/58 | €932 | €2,781 | +€1,849 | +198% |
| Deferred charges and accrued income | 490/1 | €3,214 | €1,911 | -€1,303 | -40.5% |
| Total equity and liabilities | 10/49 | €110,341 | €90,743 | -€19,598 | -17.8% |
| Equity | 10/15 | €19,569 | €37,055 | +€17,486 | +89.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€431 | €17,055 | +€17,486 | |
| Amounts payable | 17/49 | €90,771 | €53,688 | -€37,084 | -40.9% |
| Amounts payable within one year | 42/48 | €90,771 | €53,688 | -€37,084 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €2,822 | - | -€2,822 | |
| Financial debts | 43 | €19,069 | €9,013 | -€10,056 | -52.7% |
| Credit institutions | 430/8 | €19,069 | €9,013 | -€10,056 | -52.7% |
| Trade debts | 44 | €49,598 | €18,514 | -€31,084 | -62.7% |
| Suppliers | 440/4 | €49,598 | €18,514 | -€31,084 | -62.7% |
| Taxes, remuneration and social security | 45 | €19,283 | €26,162 | +€6,878 | +35.7% |
| Taxes | 450/3 | €11,837 | €17,202 | +€5,365 | +45.3% |
| Remuneration and social security | 454/9 | €7,447 | €8,960 | +€1,513 | +20.3% |
| Non-recurring operating income | 76A | - | €2,454 | +€2,454 | |
| Remuneration, social security and pensions | 62 | €26,594 | €38,647 | +€12,053 | +45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437 | €183 | -€253 | -58.0% |
| Other operating charges | 640/8 | €917 | €1,295 | +€378 | +41.2% |
| Non-recurring operating charges | 66A | - | €2,988 | +€2,988 | |
| Gross operating margin | 9900 | €31,348 | €75,972 | +€44,624 | +142% |
| Operating profit (loss) | 9901 | €3,400 | €32,858 | +€29,458 | +866% |
| Financial income | 75/76B | €33 | €24 | -€8 | -25.7% |
| Recurring financial income | 75 | €33 | €24 | -€8 | -25.7% |
| Financial charges | 65/66B | €1,939 | €2,022 | +€83 | +4.3% |
| Recurring financial charges | 65 | €1,939 | €2,022 | +€83 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €1,494 | €30,861 | +€29,367 | +1,966% |
| Income taxes | 67/77 | €3,770 | €13,375 | +€9,605 | +255% |
| Profit (loss) for the period | 9904 | -€2,276 | €17,486 | +€19,762 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,276 | €17,486 | +€19,762 |
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 19 October 2026 via checked.be.