Global Value Estate: 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 Value Estate
Largest movements
- Tangible fixed assets -€158,875
down €158,875 (-2.8%), from €5.8m to €5.6m
of which Land and buildings: -€143,383
- Debts after one year -€171,210
down €171,210 (-3.4%), from €5.1m to €4.9m
of which Financial debts: -€224,045
- Profit (loss) carried forward -€69,784
down €69,784 (-66.7%), from -€104,683 to -€174,467
- Gross operating margin -€313,396
down €313,396 (-47.8%), from €655,870 to €342,475
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 | €6,056,069 | €5,883,413 | -€172,657 | -2.9% |
| Fixed assets | 21/28 | €5,997,138 | €5,838,263 | -€158,875 | -2.6% |
| Tangible fixed assets | 22/27 | €5,755,096 | €5,596,221 | -€158,875 | -2.8% |
| Land and buildings | 22 | €5,678,341 | €5,534,957 | -€143,383 | -2.5% |
| Furniture and vehicles | 24 | €76,755 | €61,264 | -€15,491 | -20.2% |
| Financial fixed assets | 28 | €242,042 | €242,042 | = | 0.0% |
| Current assets | 29/58 | €58,931 | €45,149 | -€13,782 | -23.4% |
| Cash at bank and in hand | 54/58 | €54,835 | €39,611 | -€15,224 | -27.8% |
| Deferred charges and accrued income | 490/1 | €4,096 | €5,538 | +€1,442 | +35.2% |
| Total equity and liabilities | 10/49 | €6,056,069 | €5,883,413 | -€172,657 | -2.9% |
| Equity | 10/15 | €395,317 | €325,533 | -€69,784 | -17.7% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,683 | -€174,467 | -€69,784 | -66.7% |
| Amounts payable | 17/49 | €5,660,752 | €5,557,880 | -€102,872 | -1.8% |
| Amounts payable after more than one year | 17 | €5,102,491 | €4,931,281 | -€171,210 | -3.4% |
| Financial debts | 170/4 | €2,912,746 | €2,688,701 | -€224,045 | -7.7% |
| Other amounts payable | 178/9 | €2,189,745 | €2,242,580 | +€52,835 | +2.4% |
| Amounts payable within one year | 42/48 | €503,516 | €522,640 | +€19,123 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €218,151 | €224,045 | +€5,894 | +2.7% |
| Trade debts | 44 | €1,977 | €1,183 | -€793 | -40.1% |
| Suppliers | 440/4 | €1,977 | €1,183 | -€793 | -40.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Other amounts payable | 47/48 | €283,388 | €297,411 | +€14,023 | +4.9% |
| Accrued charges and deferred income | 492/3 | €54,745 | €103,959 | +€49,214 | +89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,095 | €204,469 | +€2,373 | +1.2% |
| Other operating charges | 640/8 | €17,167 | €15,638 | -€1,529 | -8.9% |
| Gross operating margin | 9900 | €655,870 | €342,475 | -€313,396 | -47.8% |
| Operating profit (loss) | 9901 | €436,608 | €122,368 | -€314,240 | -72.0% |
| Financial income | 75/76B | €23 | €0 | -€23 | -100% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -100% |
| Financial charges | 65/66B | €192,216 | €192,152 | -€64 | 0.0% |
| Recurring financial charges | 65 | €192,216 | €192,152 | -€64 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €244,415 | -€69,784 | -€314,199 | |
| Profit (loss) for the period | 9904 | €244,415 | -€69,784 | -€314,199 | |
| Profit (loss) for the period to be appropriated | 9905 | €244,415 | -€69,784 | -€314,199 |
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 26 October 2026 via checked.be.