GREEN BLUE: 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.
GREEN BLUE
Largest movements
- Tangible fixed assets +€176,018
up €176,018 (+7.0%), from €2.5m to €2.7m
of which Land and buildings: +€184,185
- Cash -€83,626
down €83,626 (-24.1%), from €346,578 to €262,951
mainly Investment in fixed assets (net) (-€391,127) and Other debts (-€7,409)
- Debts after one year +€40,045
up €40,045 (+2.6%), from €1.6m to €1.6m
of which Financial debts: +€40,045
- Profit (loss) carried forward +€39,578
up €39,578 (+27.9%), from €141,800 to €181,378
- Gross operating margin +€38,120
up €38,120 (+11.7%), from €327,096 to €365,217
- Other operating charges +€36,735
up €36,735 (+108.1%), from €33,994 to €70,729
- Depreciation -€25,359
down €25,359 (-10.5%), from €240,467 to €215,109
- Taxes +€11,989
up €11,989 (+235.9%), from €5,082 to €17,071
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,878,047 | €2,977,577 | +€99,530 | +3.5% |
| Fixed assets | 21/28 | €2,525,100 | €2,701,118 | +€176,018 | +7.0% |
| Tangible fixed assets | 22/27 | €2,523,336 | €2,699,354 | +€176,018 | +7.0% |
| Land and buildings | 22 | €2,497,817 | €2,682,002 | +€184,185 | +7.4% |
| Furniture and vehicles | 24 | - | €16,102 | +€16,102 | |
| Other tangible fixed assets | 26 | €24,269 | - | -€24,269 | |
| Assets under construction and advance payments | 27 | €1,250 | €1,250 | = | 0.0% |
| Financial fixed assets | 28 | €1,764 | €1,764 | = | 0.0% |
| Current assets | 29/58 | €352,948 | €276,459 | -€76,488 | -21.7% |
| Amounts receivable within one year | 40/41 | €6,370 | €13,508 | +€7,138 | +112.1% |
| Trade receivables | 40 | €6,370 | €13,508 | +€7,138 | +112.1% |
| Cash at bank and in hand | 54/58 | €346,578 | €262,951 | -€83,626 | -24.1% |
| Total equity and liabilities | 10/49 | €2,878,047 | €2,977,577 | +€99,530 | +3.5% |
| Equity | 10/15 | €765,700 | €805,278 | +€39,578 | +5.2% |
| Contributions | 10/11 | €424,000 | €424,000 | = | 0.0% |
| Capital | 10 | €424,000 | €424,000 | = | 0.0% |
| Issued capital | 100 | €424,000 | €424,000 | = | 0.0% |
| Reserves | 13 | €199,900 | €199,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €187,500 | €187,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,800 | €181,378 | +€39,578 | +27.9% |
| Provisions and deferred taxes | 16 | €62,500 | €62,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €62,500 | €62,500 | = | 0.0% |
| Pensions and similar obligations | 160 | €62,500 | €62,500 | = | 0.0% |
| Amounts payable | 17/49 | €2,049,847 | €2,109,799 | +€59,952 | +2.9% |
| Amounts payable after more than one year | 17 | €1,555,451 | €1,595,496 | +€40,045 | +2.6% |
| Financial debts | 170/4 | €1,131,451 | €1,171,496 | +€40,045 | +3.5% |
| Other amounts payable | 178/9 | €424,000 | €424,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €494,396 | €514,303 | +€19,907 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €82,882 | €106,024 | +€23,142 | +27.9% |
| Trade debts | 44 | €4,010 | - | -€4,010 | |
| Suppliers | 440/4 | €4,010 | - | -€4,010 | |
| Taxes, remuneration and social security | 45 | - | €8,184 | +€8,184 | |
| Taxes | 450/3 | - | €8,184 | +€8,184 | |
| Other amounts payable | 47/48 | €407,504 | €400,096 | -€7,409 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,467 | €215,109 | -€25,359 | -10.5% |
| Other operating charges | 640/8 | €33,994 | €70,729 | +€36,735 | +108.1% |
| Gross operating margin | 9900 | €327,096 | €365,217 | +€38,120 | +11.7% |
| Operating profit (loss) | 9901 | €52,635 | €79,379 | +€26,744 | +50.8% |
| Financial income | 75/76B | - | €1,919 | +€1,919 | |
| Recurring financial income | 75 | - | €1,919 | +€1,919 | |
| Financial charges | 65/66B | €24,093 | €24,649 | +€555 | +2.3% |
| Recurring financial charges | 65 | €24,093 | €24,649 | +€555 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €28,541 | €56,649 | +€28,108 | +98.5% |
| Income taxes | 67/77 | €5,082 | €17,071 | +€11,989 | +235.9% |
| Profit (loss) for the period | 9904 | €23,459 | €39,578 | +€16,119 | +68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,459 | €39,578 | +€16,119 | +68.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.