Green Elephant: 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.
Green Elephant
Largest movements
- Tangible fixed assets +€160,821
up €160,821 (+3356.6%), from €4,791 to €165,612
of which Plant, machinery and equipment: +€156,647
- Cash +€34,138
up €34,138 (+401.2%), from €8,509 to €42,647
mainly Debts after one year (+€213,663) and Other debts (+€48,900)
- Receivables within one year +€22,986
up €22,986 (+300.7%), from €7,644 to €30,630
of which Trade receivables: +€16,108
- Stocks and contracts +€22,558
up €22,558 (+193.2%), from €11,677 to €34,235
- Current investments +€15,000
new in 2025: €15,000
- Debts after one year +€213,663
new in 2025: €213,663
- Other debts +€48,900
up €48,900 (+353.9%), from €13,816 to €62,716
- Trade debts -€38,404
down €38,404 (-57.0%), from €67,356 to €28,952
- Short-term financial debts +€22,690
new in 2025: €22,690
- Profit (loss) carried forward +€9,829
up €9,829, from -€1,212 to €8,617
- Gross operating margin +€27,370
up €27,370 (+247.7%), from €11,049 to €38,419
- Depreciation +€11,922
up €11,922 (+283.1%), from €4,212 to €16,134
- Financial charges +€5,732
up €5,732 (+603.1%), from €950 to €6,682
- Taxes -€1,915
down €1,915 (-38.3%), from €5,000 to €3,085
- Write-downs -€1,711
no longer reported in 2025 (was €1,711)
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 | €85,912 | €344,908 | +€258,995 | +301.5% |
| Fixed assets | 21/28 | €58,082 | €217,426 | +€159,344 | +274.3% |
| Intangible fixed assets | 21 | €53,290 | €47,613 | -€5,677 | -10.7% |
| Tangible fixed assets | 22/27 | €4,791 | €165,612 | +€160,821 | +3356.6% |
| Plant, machinery and equipment | 23 | €4,791 | €161,439 | +€156,647 | +3269.5% |
| Furniture and vehicles | 24 | - | €4,174 | +€4,174 | |
| Financial fixed assets | 28 | - | €4,200 | +€4,200 | |
| Current assets | 29/58 | €27,831 | €127,482 | +€99,651 | +358.1% |
| Stocks and contracts in progress | 3 | €11,677 | €34,235 | +€22,558 | +193.2% |
| Stocks | 30/36 | €11,677 | €34,235 | +€22,558 | +193.2% |
| Amounts receivable within one year | 40/41 | €7,644 | €30,630 | +€22,986 | +300.7% |
| Trade receivables | 40 | €6,660 | €22,768 | +€16,108 | +241.9% |
| Other amounts receivable | 41 | €984 | €7,863 | +€6,878 | +698.8% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €8,509 | €42,647 | +€34,138 | +401.2% |
| Deferred charges and accrued income | 490/1 | - | €4,969 | +€4,969 | |
| Total equity and liabilities | 10/49 | €85,912 | €344,908 | +€258,995 | +301.5% |
| Equity | 10/15 | €1,788 | €11,617 | +€9,829 | +549.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,212 | €8,617 | +€9,829 | |
| Amounts payable | 17/49 | €84,124 | €333,290 | +€249,166 | +296.2% |
| Amounts payable after more than one year | 17 | - | €213,663 | +€213,663 | |
| Financial debts | 170/4 | - | €213,663 | +€213,663 | |
| Amounts payable within one year | 42/48 | €84,124 | €117,294 | +€33,170 | +39.4% |
| Current portion of amounts payable after more than one year | 42 | €2,945 | - | -€2,945 | |
| Financial debts | 43 | - | €22,690 | +€22,690 | |
| Credit institutions | 430/8 | - | €22,690 | +€22,690 | |
| Trade debts | 44 | €67,356 | €28,952 | -€38,404 | -57.0% |
| Suppliers | 440/4 | €67,356 | €28,952 | -€38,404 | -57.0% |
| Taxes, remuneration and social security | 45 | €8 | €2,936 | +€2,928 | +37981.5% |
| Taxes | 450/3 | €8 | €2,936 | +€2,928 | +37981.5% |
| Other amounts payable | 47/48 | €13,816 | €62,716 | +€48,900 | +353.9% |
| Accrued charges and deferred income | 492/3 | - | €2,333 | +€2,333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,212 | €16,134 | +€11,922 | +283.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,711 | - | -€1,711 | |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Non-recurring operating charges | 66A | - | €2,825 | +€2,825 | |
| Gross operating margin | 9900 | €11,049 | €38,419 | +€27,370 | +247.7% |
| Operating profit (loss) | 9901 | €4,739 | €19,460 | +€14,721 | +310.7% |
| Financial income | 75/76B | - | €137 | +€137 | |
| Recurring financial income | 75 | - | €137 | +€137 | |
| Financial charges | 65/66B | €950 | €6,682 | +€5,732 | +603.1% |
| Recurring financial charges | 65 | €950 | €6,682 | +€5,732 | +603.1% |
| Profit (loss) for the period before taxes | 9903 | €3,788 | €12,915 | +€9,126 | +240.9% |
| Income taxes | 67/77 | €5,000 | €3,085 | -€1,915 | -38.3% |
| Profit (loss) for the period | 9904 | -€1,212 | €9,829 | +€11,041 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,212 | €9,829 | +€11,041 |
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 10 October 2026 via checked.be.