Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Figures corrected NBB
Corrected annual account filed for 2025.
Financials
Financial year 2025
GLOBAL BLUE BELGIUM from Zaventem, company number BE0432612575, closed financial year 2025 with a result of € 248,507 after tax. For that financial year GLOBAL BLUE BELGIUM recorded a gross margin of € 608,972 and equity of € 330,375. Compared with financial year 2025, the result moved from € 489,328 to € 248,507. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on September 30, 2026.
€ 330,375
▲ € 248,507 vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 248,507
▼ 49% vs 2025
Profit after tax over the fiscal year.
€ 205,459
▼ 51% vs 2025
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 256,007.
People and assets in 2025
7.6
▲ 0.5 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 630,137
▼ 13% vs 2025
€ 82,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 12,300
▼ 43% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 5.7 million
▼ 15% vs 2025
Supplier invoices still open on the last day of the fiscal year.
€ 280,179
▼ 34% vs 2025
Taxes, VAT and social contributions still to pay.
| 2023 | 2024 | 2025 | 2025 | Change 2025 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 842,689 | € 1,044,953 | € 963,538 | € 608,972 | ▼ 37% |
| Profit after taxes | € 142,286 | € 540,788 | € 489,328 | € 248,507 | ▼ 49% |
| Equity | € 2,044,801 | € 2,585,590 | € 81,868 | € 330,375 | ▲ € 248,507 |
| Total debts | € 4,366,121 | € 5,898,400 | € 10,156,788 | € 5,982,977 | ▼ 41% |
| Cash | € 158,479 | € 235,719 | € 420,528 | € 205,459 | ▼ 51% |
| Retained profit | € 1,970,433 | € 2,511,222 | € 7,500 | € 256,007 | ▲ € 248,507 |
| Dividend | € 0 | € 0 | € 2,993,050 | € 0 | ▼ 100% |
| Balance sheet total | € 6,410,922 | € 8,483,990 | € 10,238,656 | € 6,313,353 | ▼ 38% |
| Employees (FTE) | 7.4 | 7.1 | 7.1 | 7.6 | ▲ 0.5 |
Key figures of GLOBAL BLUE BELGIUM, fiscal years 2023 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to GLOBAL BLUE BELGIUM?
What happened at GLOBAL BLUE BELGIUM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Orsolya Zsellér stepped down as director. NBB
- Jorn Hoogesteyn stepped down as director. NBB
- Jeremy Henderson-Ross stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 489,328 (▼ 10% vs 2024). filed late Source: NBB ↗
- Roxane Dufour stepped down as director. NBB
- Orsolya Zsellér became a director. NBB
- Roxane Dufour became a director. NBB
- Jorn Hoogesteyn became a director. NBB
In short
From € 142,286 profit in 2023 to € 248,507 profit in 2025.
Paid € 518,381 in corporate taxes since 2023.
Best year ever: 2024, with € 540,788 profit.
On average € 80,100 of value added per employee in 2025.
Management
The shares are held by GLOBAL BLUE HOLLAND bv (83.3%) and GLOBAL BLUE HOLDINGS (16.7%).
Directors
According to the 2025 annual accounts
Jorn Hoogesteyn
Director
since 2021 · until 2027
Roxane Dufour
Director
since 2022 · until 2026
Jeremy Henderson-Ross
Director
since 2021 · until 2027
Orsolya Zsellér
Director
since 2026 · until 2032
Shareholders
GLOBAL BLUE HOLLAND bv
83.3%
GLOBAL BLUE HOLDINGS
16.7%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Excelsiorlaan 23
1930 Zaventem
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
DIGICERT - Tiggee LLC, US
Domain
Domain
globalblue.com
Registered
1997-08-25
Registrar
Ascio Technologies, Inc. Danmark - Filial af Ascio technologies, Inc. USA
Expires
2026-08-24
Website info
Features
Security
Network
Details
- Company number
- 0432.612.575
- VAT number
- BE 0432.612.575
- Registered office
- Excelsiorlaan 23, 1930 Zaventem
- Names & denominations
- GLOBAL BLUE BELGIUM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 26 November 1987
- Peppol
- Active · Active since 18 Dec 2025
- Contact
- globalblue.com
- Activities · NACE
Overige ondersteunende activiteiten in verband met financiële diensten, neg, exclusief verzekeringen en pensioenfondsen
Ondersteunende activiteiten i.v.m. financiële instellingen, n.e.g.
Handelsbemiddeling in goederen, algemeen assortiment
Handelsbemiddeling in de niet-gespecialiseerde groothandel