GROUP GLOBE: 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.
What changed
GROUP GLOBE
NACE 43.230, Insulation installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,584
2024 · -€81,369+€86,954
Equity
€179,980
2024 · €174,395+€5,584
Cash
€48,415
2024 · €45,597+€2,818
Balance sheet total
€686,098
2024 · €577,253+€108,845
Largest movements
Assets
- Receivables within one year +€91,416
up €91,416 (+38.1%), from €239,890 to €331,306
of which Trade receivables: +€77,244
- Stocks and contracts +€11,924
up €11,924 (+26.8%), from €44,515 to €56,438
Equity and liabilities
- Debts after one year +€41,239
up €41,239 (+64.1%), from €64,382 to €105,621
- Trade debts +€28,128
up €28,128 (+11.3%), from €249,313 to €277,441
- Tax, wage and social debts +€23,892
up €23,892 (+61.1%), from €39,123 to €63,015
of which Remuneration and social security: +€17,065
- Current portion of long-term debt +€10,002
up €10,002 (+20.0%), from €50,040 to €60,041
Income statement
- Gross operating margin +€129,265
up €129,265 (+15.1%), from €857,920 to €987,184
- Staff costs +€48,211
up €48,211 (+6.0%), from €801,158 to €849,368
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.
Result 2024
-€81,369
Gross operating margin
+€129,265
Staff costs
-€48,211
Depreciation
+€9,339
Other operating charges
-€3,842
Financial income
-€683
Financial charges
-€3,168
Taxes
+€4,253
Result 2025
€5,584
raises the resultlowers the result
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.
From operations
+€54,680
Investment
-€103,102
Financing
+€51,240
Cash 2024
€45,597
From operations (derived)
+€54,680
Net result for the year
+€5,584
Depreciation
+€103,922
Receivables after one year
+€2,000
Stocks and contracts
-€11,924
Receivables within one year
-€91,416
Deferred charges and accrued income
-€5,507
Trade debts
+€28,128
Tax, wage and social debts
+€23,892
Investment (derived)
-€103,102
Investment in fixed assets (net)
-€103,102
Financing
+€51,240
Debts after one year
+€41,239
Current portion of long-term debt
+€10,002
Cash 2025
€48,415
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €577,253 | €686,098 | +€108,845 | +18.9% |
| Fixed assets | 21/28 | €241,736 | €240,916 | -€820 | -0.3% |
| Intangible fixed assets | 21 | - | €4,033 | +€4,033 | |
| Tangible fixed assets | 22/27 | €241,656 | €236,803 | -€4,853 | -2.0% |
| Land and buildings | 22 | €4,231 | €3,334 | -€897 | -21.2% |
| Plant, machinery and equipment | 23 | €47,007 | €44,429 | -€2,578 | -5.5% |
| Furniture and vehicles | 24 | €190,418 | €158,876 | -€31,542 | -16.6% |
| Leasing and similar rights | 25 | - | €13,065 | +€13,065 | |
| Other tangible fixed assets | 26 | - | €17,099 | +€17,099 | |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €335,517 | €445,182 | +€109,665 | +32.7% |
| Amounts receivable after more than one year | 29 | €2,000 | €0 | -€2,000 | -100% |
| Trade receivables | 290 | €2,000 | €0 | -€2,000 | -100% |
| Stocks and contracts in progress | 3 | €44,515 | €56,438 | +€11,924 | +26.8% |
| Stocks | 30/36 | €44,515 | €56,438 | +€11,924 | +26.8% |
| Amounts receivable within one year | 40/41 | €239,890 | €331,306 | +€91,416 | +38.1% |
| Trade receivables | 40 | €210,691 | €287,934 | +€77,244 | +36.7% |
| Other amounts receivable | 41 | €29,199 | €43,372 | +€14,172 | +48.5% |
| Cash at bank and in hand | 54/58 | €45,597 | €48,415 | +€2,818 | +6.2% |
| Deferred charges and accrued income | 490/1 | €3,515 | €9,022 | +€5,507 | +157% |
| Total equity and liabilities | 10/49 | €577,253 | €686,098 | +€108,845 | +18.9% |
| Equity | 10/15 | €174,395 | €179,980 | +€5,584 | +3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €168,195 | €173,780 | +€5,584 | +3.3% |
| 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 | €166,335 | €171,920 | +€5,584 | +3.4% |
| Amounts payable | 17/49 | €402,858 | €506,118 | +€103,260 | +25.6% |
| Amounts payable after more than one year | 17 | €64,382 | €105,621 | +€41,239 | +64.1% |
| Financial debts | 170/4 | €64,382 | €105,621 | +€41,239 | +64.1% |
| Amounts payable within one year | 42/48 | €338,475 | €400,497 | +€62,022 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €50,040 | €60,041 | +€10,002 | +20.0% |
| Trade debts | 44 | €249,313 | €277,441 | +€28,128 | +11.3% |
| Suppliers | 440/4 | €249,313 | €277,441 | +€28,128 | +11.3% |
| Taxes, remuneration and social security | 45 | €39,123 | €63,015 | +€23,892 | +61.1% |
| Taxes | 450/3 | €5,034 | €11,861 | +€6,828 | +136% |
| Remuneration and social security | 454/9 | €34,089 | €51,154 | +€17,065 | +50.1% |
| Remuneration, social security and pensions | 62 | €801,158 | €849,368 | +€48,211 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,261 | €103,922 | -€9,339 | -8.2% |
| Other operating charges | 640/8 | €14,663 | €18,505 | +€3,842 | +26.2% |
| Gross operating margin | 9900 | €857,920 | €987,184 | +€129,265 | +15.1% |
| Operating profit (loss) | 9901 | -€71,163 | €15,389 | +€86,552 | |
| Financial income | 75/76B | €900 | €216 | -€683 | -76.0% |
| Recurring financial income | 75 | €900 | €216 | -€683 | -76.0% |
| Financial charges | 65/66B | €5,185 | €8,353 | +€3,168 | +61.1% |
| Recurring financial charges | 65 | €5,185 | €8,353 | +€3,168 | +61.1% |
| Profit (loss) for the period before taxes | 9903 | -€75,448 | €7,252 | +€82,700 | |
| Income taxes | 67/77 | €5,921 | €1,668 | -€4,253 | -71.8% |
| Profit (loss) for the period | 9904 | -€81,369 | €5,584 | +€86,954 | |
| Profit (loss) for the period to be appropriated | 9905 | -€81,369 | €5,584 | +€86,954 |
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 15 October 2026 via checked.be.