GLOBAL SECURITY: what changed
Two fiscal 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 SECURITY
Largest movements
- Receivables within one year -€28,820
down €28,820 (-12.9%), from €223,191 to €194,372
of which Trade receivables: -€23,405
- Cash -€6,701
down €6,701 (-14.0%), from €47,916 to €41,215
mainly Tax, wage and social debts (-€46,378) and Trade debts (-€32,715)
- Deferred charges and accrued income -€3,639
down €3,639 (-100.0%), from €3,639 to €0
- Tax, wage and social debts -€46,378
down €46,378 (-38.0%), from €121,977 to €75,599
of which Remuneration and social security: -€48,000
- Profit (loss) carried forward +€45,678
up €45,678, from -€23,831 to €21,846
- Trade debts -€32,715
down €32,715 (-100.0%), from €32,715 to €0
- Accrued charges and deferred income -€8,876
down €8,876 (-100.0%), from €8,876 to €0
- Other debts +€3,106
new in 2025: €3,106
- Write-downs -€72,144
down €72,144 (-100.0%), from €72,144 to €0
- Staff costs -€25,890
down €25,890 (-6.4%), from €402,026 to €376,136
- Gross operating margin -€19,244
down €19,244 (-4.2%), from €456,509 to €437,264
- Taxes +€9,054
up €9,054 (+26811.8%), from €34 to €9,088
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.
Cash bridge derived
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 | €286,848 | €247,556 | -€39,292 | -13.7% |
| Fixed assets | 21/28 | €12,102 | €11,969 | -€133 | -1.1% |
| Tangible fixed assets | 22/27 | €11,147 | €11,014 | -€133 | -1.2% |
| Furniture and vehicles | 24 | - | €1,470 | +€1,470 | |
| Other tangible fixed assets | 26 | €11,147 | €9,544 | -€1,603 | -14.4% |
| Financial fixed assets | 28 | €956 | €956 | = | 0.0% |
| Current assets | 29/58 | €274,746 | €235,587 | -€39,159 | -14.3% |
| Amounts receivable within one year | 40/41 | €223,191 | €194,372 | -€28,820 | -12.9% |
| Trade receivables | 40 | €160,895 | €137,490 | -€23,405 | -14.5% |
| Other amounts receivable | 41 | €62,297 | €56,882 | -€5,415 | -8.7% |
| Cash at bank and in hand | 54/58 | €47,916 | €41,215 | -€6,701 | -14.0% |
| Deferred charges and accrued income | 490/1 | €3,639 | €0 | -€3,639 | -100.0% |
| Total equity and liabilities | 10/49 | €286,848 | €247,556 | -€39,292 | -13.7% |
| Equity | 10/15 | €102,509 | €148,186 | +€45,678 | +44.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,740 | €107,740 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €105,880 | €105,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,831 | €21,846 | +€45,678 | |
| Amounts payable | 17/49 | €184,340 | €99,370 | -€84,969 | -46.1% |
| Amounts payable within one year | 42/48 | €175,463 | €99,370 | -€76,093 | -43.4% |
| Current portion of amounts payable after more than one year | 42 | €20,772 | €20,665 | -€106 | -0.5% |
| Trade debts | 44 | €32,715 | €0 | -€32,715 | -100.0% |
| Suppliers | 440/4 | €32,715 | €0 | -€32,715 | -100.0% |
| Taxes, remuneration and social security | 45 | €121,977 | €75,599 | -€46,378 | -38.0% |
| Taxes | 450/3 | €33,897 | €35,519 | +€1,622 | +4.8% |
| Remuneration and social security | 454/9 | €88,080 | €40,080 | -€48,000 | -54.5% |
| Other amounts payable | 47/48 | - | €3,106 | +€3,106 | |
| Accrued charges and deferred income | 492/3 | €8,876 | €0 | -€8,876 | -100.0% |
| Remuneration, social security and pensions | 62 | €402,026 | €376,136 | -€25,890 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,603 | €1,811 | +€208 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €72,144 | €0 | -€72,144 | -100.0% |
| Other operating charges | 640/8 | - | €455 | +€455 | |
| Gross operating margin | 9900 | €456,509 | €437,264 | -€19,244 | -4.2% |
| Operating profit (loss) | 9901 | -€19,264 | €58,862 | +€78,126 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €7,467 | €4,098 | -€3,369 | -45.1% |
| Recurring financial charges | 65 | €7,467 | €4,098 | -€3,369 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | -€26,731 | €54,766 | +€81,497 | |
| Income taxes | 67/77 | €34 | €9,088 | +€9,054 | +26811.8% |
| Profit (loss) for the period | 9904 | -€26,765 | €45,678 | +€72,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,765 | €45,678 | +€72,442 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.