GLOBEX: 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.
GLOBEX
Largest movements
- Cash +€238,556
up €238,556 (+41.2%), from €578,404 to €816,961
mainly Net result for the year (+€227,328) and Tax, wage and social debts (+€53,038)
- Receivables within one year +€16,669
up €16,669 (+90.4%), from €18,440 to €35,109
of which Trade receivables: +€15,186
- Profit (loss) carried forward +€227,328
up €227,328 (+69.8%), from €325,852 to €553,179
- Other debts -€55,025
down €55,025 (-13.6%), from €403,771 to €348,747
- Tax, wage and social debts +€53,038
up €53,038 (+589%), from €9,001 to €62,039
- Debts after one year +€41,300
new in 2025: €41,300
- Current portion of long-term debt -€30,000
no longer reported in 2025 (was €30,000)
- Gross operating margin +€72,302
up €72,302 (+24.0%), from €301,498 to €373,799
- Taxes +€44,435
up €44,435 (+125%), from €35,682 to €80,117
- Write-downs -€17,507
down €17,507, from €14,651 to -€2,856
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 | €789,357 | €1,036,482 | +€247,125 | +31.3% |
| Fixed assets | 21/28 | €187,085 | €178,572 | -€8,513 | -4.6% |
| Tangible fixed assets | 22/27 | €187,085 | €178,572 | -€8,513 | -4.6% |
| Land and buildings | 22 | €184,543 | €173,600 | -€10,943 | -5.9% |
| Plant, machinery and equipment | 23 | €2,310 | €1,114 | -€1,196 | -51.8% |
| Furniture and vehicles | 24 | €233 | €3,859 | +€3,626 | +1,559% |
| Current assets | 29/58 | €602,272 | €857,910 | +€255,638 | +42.4% |
| Amounts receivable within one year | 40/41 | €18,440 | €35,109 | +€16,669 | +90.4% |
| Trade receivables | 40 | €6,408 | €21,594 | +€15,186 | +237% |
| Other amounts receivable | 41 | €12,031 | €13,515 | +€1,484 | +12.3% |
| Cash at bank and in hand | 54/58 | €578,404 | €816,961 | +€238,556 | +41.2% |
| Deferred charges and accrued income | 490/1 | €5,428 | €5,840 | +€413 | +7.6% |
| Total equity and liabilities | 10/49 | €789,357 | €1,036,482 | +€247,125 | +31.3% |
| Equity | 10/15 | €346,303 | €573,631 | +€227,328 | +65.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €325,852 | €553,179 | +€227,328 | +69.8% |
| Amounts payable | 17/49 | €443,054 | €462,852 | +€19,798 | +4.5% |
| Amounts payable after more than one year | 17 | - | €41,300 | +€41,300 | |
| Other amounts payable | 178/9 | - | €41,300 | +€41,300 | |
| Amounts payable within one year | 42/48 | €443,054 | €421,552 | -€21,502 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | - | -€30,000 | |
| Trade debts | 44 | €282 | €10,766 | +€10,484 | +3,720% |
| Suppliers | 440/4 | €282 | €10,766 | +€10,484 | +3,720% |
| Taxes, remuneration and social security | 45 | €9,001 | €62,039 | +€53,038 | +589% |
| Taxes | 450/3 | €9,001 | €62,039 | +€53,038 | +589% |
| Other amounts payable | 47/48 | €403,771 | €348,747 | -€55,025 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,316 | €33,079 | -€2,237 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,651 | -€2,856 | -€17,507 | |
| Other operating charges | 640/8 | €39,783 | €36,045 | -€3,738 | -9.4% |
| Gross operating margin | 9900 | €301,498 | €373,799 | +€72,302 | +24.0% |
| Operating profit (loss) | 9901 | €211,747 | €307,531 | +€95,783 | +45.2% |
| Financial income | 75/76B | €2 | €17 | +€15 | +873% |
| Recurring financial income | 75 | €2 | €17 | +€15 | +873% |
| Financial charges | 65/66B | €245 | €103 | -€142 | -58.1% |
| Recurring financial charges | 65 | €245 | €103 | -€142 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €211,504 | €307,445 | +€95,941 | +45.4% |
| Income taxes | 67/77 | €35,682 | €80,117 | +€44,435 | +125% |
| Profit (loss) for the period | 9904 | €175,822 | €227,328 | +€51,505 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €175,822 | €227,328 | +€51,505 | +29.3% |
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 14 October 2026 via checked.be.