GREEN FRIX: 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 FRIX
Largest movements
- Cash -€253,426
down €253,426 (-80.0%), from €316,592 to €63,167
mainly Net result for the year (-€477,454) and Investment in fixed assets (net) (-€151,617)
- Intangible fixed assets -€243,787
down €243,787 (-29.9%), from €815,838 to €572,051
- Tangible fixed assets -€157,527
down €157,527 (-17.1%), from €921,934 to €764,407
of which Plant, machinery and equipment: -€150,504
- Receivables within one year -€120,591
down €120,591 (-32.0%), from €376,767 to €256,176
of which Trade receivables: -€79,534
- Profit (loss) carried forward -€477,454
down €477,454 (-34.5%), from -€1.4m to -€1.9m
- Investment grants -€118,606
down €118,606 (-21.8%), from €544,341 to €425,735
- Current portion of long-term debt -€68,031
down €68,031 (-100%), from €68,031 to €0
- Accrued charges and deferred income -€64,056
down €64,056 (-22.7%), from €282,308 to €218,252
- Provisions -€55,071
down €55,071 (-100%), from €55,071 to €0
- Gross operating margin -€158,108
down €158,108 (-72.6%), from €217,689 to €59,581
- Depreciation +€139,155
up €139,155 (+33.6%), from €413,775 to €552,930
- Provisions -€49,097
down €49,097 (-39.7%), from -€123,679 to -€172,776
- Financial income -€28,917
down €28,917 (-100.0%), from €28,928 to €11
- Staff costs +€8,767
up €8,767 (+6.6%), from €133,646 to €142,413
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,518,669 | €1,758,485 | -€760,184 | -30.2% |
| Fixed assets | 21/28 | €1,737,772 | €1,336,459 | -€401,313 | -23.1% |
| Intangible fixed assets | 21 | €815,838 | €572,051 | -€243,787 | -29.9% |
| Tangible fixed assets | 22/27 | €921,934 | €764,407 | -€157,527 | -17.1% |
| Land and buildings | 22 | €11,903 | €7,935 | -€3,968 | -33.3% |
| Plant, machinery and equipment | 23 | €901,049 | €750,545 | -€150,504 | -16.7% |
| Furniture and vehicles | 24 | €8,983 | €5,927 | -€3,055 | -34.0% |
| Current assets | 29/58 | €780,897 | €422,026 | -€358,871 | -46.0% |
| Stocks and contracts in progress | 3 | €58,092 | €62,148 | +€4,055 | +7.0% |
| Stocks | 30/36 | €58,092 | €62,148 | +€4,055 | +7.0% |
| Amounts receivable within one year | 40/41 | €376,767 | €256,176 | -€120,591 | -32.0% |
| Trade receivables | 40 | €110,406 | €30,873 | -€79,534 | -72.0% |
| Other amounts receivable | 41 | €266,361 | €225,303 | -€41,058 | -15.4% |
| Cash at bank and in hand | 54/58 | €316,592 | €63,167 | -€253,426 | -80.0% |
| Deferred charges and accrued income | 490/1 | €29,445 | €40,536 | +€11,091 | +37.7% |
| Total equity and liabilities | 10/49 | €2,518,669 | €1,758,485 | -€760,184 | -30.2% |
| Equity | 10/15 | €574,133 | -€21,927 | -€596,060 | |
| Contributions | 10/11 | €1,415,000 | €1,415,000 | = | 0.0% |
| Capital | 10 | €1,415,000 | €1,415,000 | = | 0.0% |
| Issued capital | 100 | €1,415,000 | €1,415,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,385,208 | -€1,862,662 | -€477,454 | -34.5% |
| Investment grants | 15 | €544,341 | €425,735 | -€118,606 | -21.8% |
| Provisions and deferred taxes | 16 | €55,071 | €0 | -€55,071 | -100% |
| Provisions for liabilities and charges | 160/5 | €55,071 | €0 | -€55,071 | -100% |
| Other liabilities and charges | 164/5 | €55,071 | €0 | -€55,071 | -100% |
| Amounts payable | 17/49 | €1,889,465 | €1,780,412 | -€109,053 | -5.8% |
| Amounts payable after more than one year | 17 | €1,480,298 | €1,495,638 | +€15,340 | +1.0% |
| Financial debts | 170/4 | €274,810 | €290,149 | +€15,340 | +5.6% |
| Other amounts payable | 178/9 | €1,205,489 | €1,205,489 | = | 0.0% |
| Amounts payable within one year | 42/48 | €126,858 | €66,521 | -€60,337 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €68,031 | €0 | -€68,031 | -100% |
| Trade debts | 44 | €30,608 | €41,458 | +€10,850 | +35.4% |
| Suppliers | 440/4 | €30,608 | €41,458 | +€10,850 | +35.4% |
| Taxes, remuneration and social security | 45 | €18,266 | €15,111 | -€3,155 | -17.3% |
| Taxes | 450/3 | €529 | €0 | -€529 | -100% |
| Remuneration and social security | 454/9 | €17,737 | €15,111 | -€2,626 | -14.8% |
| Other amounts payable | 47/48 | €9,953 | €9,953 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €282,308 | €218,252 | -€64,056 | -22.7% |
| Remuneration, social security and pensions | 62 | €133,646 | €142,413 | +€8,767 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €413,775 | €552,930 | +€139,155 | +33.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€123,679 | -€172,776 | -€49,097 | -39.7% |
| Other operating charges | 640/8 | €1,150 | €1,329 | +€179 | +15.6% |
| Gross operating margin | 9900 | €217,689 | €59,581 | -€158,108 | -72.6% |
| Operating profit (loss) | 9901 | -€207,202 | -€464,314 | -€257,112 | -124% |
| Financial income | 75/76B | €28,928 | €11 | -€28,917 | -100.0% |
| Recurring financial income | 75 | €28,928 | €11 | -€28,917 | -100.0% |
| Financial charges | 65/66B | €14,999 | €13,151 | -€1,848 | -12.3% |
| Recurring financial charges | 65 | €14,999 | €13,151 | -€1,848 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€193,273 | -€477,454 | -€284,181 | -147% |
| Profit (loss) for the period | 9904 | -€193,273 | -€477,454 | -€284,181 | -147% |
| Profit (loss) for the period to be appropriated | 9905 | -€193,273 | -€477,454 | -€284,181 | -147% |
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 16 October 2026 via checked.be.