WHY NOT GLOBAL: 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.
What changed
WHY NOT GLOBAL
NACE 46.500, Wholesale of information and communication equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€13,341
2024 · €41,326-€54,667
Equity
€1.5m
2024 · €1.5m-€88,958
Cash
€8,993
2024 · €22,857-€13,865
Balance sheet total
€1.5m
2024 · €1.6m-€149,288
Largest movements
Assets
- Receivables after one year +€170,000
up €170,000 (+85.0%), from €200,000 to €370,000
- Current investments -€165,158
down €165,158 (-14.1%), from €1.2m to €1.0m
- Financial fixed assets -€150,000
down €150,000 (-100.0%), from €150,000 to €0
Equity and liabilities
- Reserves -€88,958
down €88,958 (-5.8%), from €1.5m to €1.4m
of which Distributable reserves: -€88,958
- Debts after one year -€38,150
down €38,150 (-100.0%), from €38,150 to €0
Income statement
- Gross operating margin -€96,646
down €96,646, from €38,730 to -€57,916
- Financial income +€49,559
up €49,559 (+326.6%), from €15,173 to €64,732
- Other operating charges +€32,124
up €32,124 (+1969.0%), from €1,631 to €33,756
- Write-downs -€24,793
down €24,793, from €0 to -€24,793
- Financial charges +€11,792
up €11,792, from -€5,942 to €5,850
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
€41,326
Gross operating margin
-€96,646
Depreciation
-€1,816
Write-downs
+€24,793
Other operating charges
-€32,124
Other operating items
+€1,766
Financial income
+€49,559
Financial charges
-€11,792
Taxes
+€11,593
Result 2025
-€13,341
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.
From operations
-€194,376
Investment
+€306,346
Financing
-€125,835
Cash 2024
€22,857
From operations (derived)
-€194,376
Net result for the year
-€13,341
Depreciation
+€3,890
Receivables after one year
-€170,000
Receivables within one year
-€15,735
Deferred charges and accrued income
+€10,923
Trade debts
-€10,608
Tax, wage and social debts
+€496
Investment (derived)
+€306,346
Investment in fixed assets (net)
+€141,189
Current investments
+€165,158
Financing
-€125,835
Debts after one year
-€38,150
Current portion of long-term debt
-€10,694
Short-term financial debts
-€1,375
Contributions, distributions and other
-€75,617
Cash 2025
€8,993
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,621,689 | €1,472,401 | -€149,288 | -9.2% |
| Fixed assets | 21/28 | €162,005 | €16,927 | -€145,078 | -89.6% |
| Tangible fixed assets | 22/27 | €12,005 | €16,927 | +€4,922 | +41.0% |
| Land and buildings | 22 | €3,156 | €0 | -€3,156 | -100.0% |
| Furniture and vehicles | 24 | €8,849 | €14,884 | +€6,035 | +68.2% |
| Other tangible fixed assets | 26 | - | €2,043 | +€2,043 | |
| Financial fixed assets | 28 | €150,000 | €0 | -€150,000 | -100.0% |
| Current assets | 29/58 | €1,459,684 | €1,455,474 | -€4,210 | -0.3% |
| Amounts receivable after more than one year | 29 | €200,000 | €370,000 | +€170,000 | +85.0% |
| Other amounts receivable | 291 | €200,000 | €370,000 | +€170,000 | +85.0% |
| Amounts receivable within one year | 40/41 | €25,517 | €41,252 | +€15,735 | +61.7% |
| Trade receivables | 40 | €17,190 | €0 | -€17,190 | -100.0% |
| Other amounts receivable | 41 | €8,327 | €41,252 | +€32,925 | +395.4% |
| Current investments | 50/53 | €1,170,956 | €1,005,798 | -€165,158 | -14.1% |
| Cash at bank and in hand | 54/58 | €22,857 | €8,993 | -€13,865 | -60.7% |
| Deferred charges and accrued income | 490/1 | €40,354 | €29,431 | -€10,923 | -27.1% |
| Total equity and liabilities | 10/49 | €1,621,689 | €1,472,401 | -€149,288 | -9.2% |
| Equity | 10/15 | €1,542,910 | €1,453,953 | -€88,958 | -5.8% |
| Contributions | 10/11 | €6,605 | €6,605 | = | 0.0% |
| Reserves | 13 | €1,536,305 | €1,447,347 | -€88,958 | -5.8% |
| Non-distributable reserves | 130/1 | €4,738 | €4,738 | = | 0.0% |
| Other | 1319 | €4,738 | €4,738 | = | 0.0% |
| Distributable reserves | 133 | €1,531,567 | €1,442,610 | -€88,958 | -5.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,779 | €18,448 | -€60,331 | -76.6% |
| Amounts payable after more than one year | 17 | €38,150 | €0 | -€38,150 | -100.0% |
| Financial debts | 170/4 | €38,150 | €0 | -€38,150 | -100.0% |
| Amounts payable within one year | 42/48 | €40,629 | €18,448 | -€22,181 | -54.6% |
| Current portion of amounts payable after more than one year | 42 | €10,694 | €0 | -€10,694 | -100.0% |
| Financial debts | 43 | €2,126 | €752 | -€1,375 | -64.7% |
| Credit institutions | 430/8 | €2,126 | €752 | -€1,375 | -64.7% |
| Trade debts | 44 | €14,697 | €4,089 | -€10,608 | -72.2% |
| Suppliers | 440/4 | €14,697 | €4,089 | -€10,608 | -72.2% |
| Taxes, remuneration and social security | 45 | €12,937 | €13,433 | +€496 | +3.8% |
| Taxes | 450/3 | €8,665 | €13,433 | +€4,767 | +55.0% |
| Remuneration and social security | 454/9 | €4,271 | €0 | -€4,271 | -100.0% |
| Other amounts payable | 47/48 | €175 | €175 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €100,000 | €50,000 | -€50,000 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,074 | €3,890 | +€1,816 | +87.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€24,793 | -€24,793 | |
| Other operating charges | 640/8 | €1,631 | €33,756 | +€32,124 | +1969.0% |
| Non-recurring operating charges | 66A | €1,766 | €0 | -€1,766 | -100.0% |
| Gross operating margin | 9900 | €38,730 | -€57,916 | -€96,646 | |
| Operating profit (loss) | 9901 | €33,259 | -€70,768 | -€104,027 | |
| Financial income | 75/76B | €15,173 | €64,732 | +€49,559 | +326.6% |
| Recurring financial income | 75 | €15,173 | €64,732 | +€49,559 | +326.6% |
| Financial charges | 65/66B | -€5,942 | €5,850 | +€11,792 | |
| Recurring financial charges | 65 | -€5,942 | €5,850 | +€11,792 | |
| Profit (loss) for the period before taxes | 9903 | €54,374 | -€11,886 | -€66,260 | |
| Income taxes | 67/77 | €13,047 | €1,455 | -€11,593 | -88.8% |
| Profit (loss) for the period | 9904 | €41,326 | -€13,341 | -€54,667 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,326 | -€13,341 | -€54,667 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.