GREEN HORIZONS: 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 HORIZONS
Largest movements
- Stocks and contracts +€562,047
up €562,047 (+539.6%), from €104,155 to €666,202
- Cash +€55,133
up €55,133 (+9052.0%), from €609 to €55,742
mainly Debts after one year (+€369,529) and Other debts (+€250,631)
- Receivables within one year +€16,259
up €16,259 (+103.1%), from €15,771 to €32,030
of which Other amounts receivable: +€8,808
- Debts after one year +€369,529
new in 2025: €369,529
- Other debts +€250,631
up €250,631 (+460.3%), from €54,453 to €305,084
- Current portion of long-term debt +€70,846
new in 2025: €70,846
- Trade debts -€59,463
down €59,463 (-84.0%), from €70,774 to €11,311
- Gross operating margin +€43,392
up €43,392, from -€4,737 to €38,655
- Other operating charges +€22,949
new in 2025: €22,949
- Financial charges +€14,635
up €14,635 (+22839.2%), from €64 to €14,699
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 | €121,426 | €753,975 | +€632,549 | +520.9% |
| Current assets | 29/58 | €121,426 | €753,975 | +€632,549 | +520.9% |
| Stocks and contracts in progress | 3 | €104,155 | €666,202 | +€562,047 | +539.6% |
| Stocks | 30/36 | €104,155 | €666,202 | +€562,047 | +539.6% |
| Amounts receivable within one year | 40/41 | €15,771 | €32,030 | +€16,259 | +103.1% |
| Trade receivables | 40 | €272 | €7,723 | +€7,452 | +2740.6% |
| Other amounts receivable | 41 | €15,499 | €24,307 | +€8,808 | +56.8% |
| Cash at bank and in hand | 54/58 | €609 | €55,742 | +€55,133 | +9052.0% |
| Deferred charges and accrued income | 490/1 | €891 | - | -€891 | |
| Total equity and liabilities | 10/49 | €121,426 | €753,975 | +€632,549 | +520.9% |
| Equity | 10/15 | -€3,801 | -€2,795 | +€1,007 | +26.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,801 | -€3,795 | +€1,007 | +21.0% |
| Amounts payable | 17/49 | €125,227 | €756,769 | +€631,542 | +504.3% |
| Amounts payable after more than one year | 17 | - | €369,529 | +€369,529 | |
| Financial debts | 170/4 | - | €369,529 | +€369,529 | |
| Amounts payable within one year | 42/48 | €125,227 | €387,240 | +€262,013 | +209.2% |
| Current portion of amounts payable after more than one year | 42 | - | €70,846 | +€70,846 | |
| Trade debts | 44 | €70,774 | €11,311 | -€59,463 | -84.0% |
| Suppliers | 440/4 | €70,774 | €11,311 | -€59,463 | -84.0% |
| Other amounts payable | 47/48 | €54,453 | €305,084 | +€250,631 | +460.3% |
| Other operating charges | 640/8 | - | €22,949 | +€22,949 | |
| Gross operating margin | 9900 | -€4,737 | €38,655 | +€43,392 | |
| Operating profit (loss) | 9901 | -€4,737 | €15,706 | +€20,443 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €64 | €14,699 | +€14,635 | +22839.2% |
| Recurring financial charges | 65 | €64 | €14,699 | +€14,635 | +22839.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,801 | €1,007 | +€5,808 | |
| Profit (loss) for the period | 9904 | -€4,801 | €1,007 | +€5,808 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,801 | €1,007 | +€5,808 |
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 9 October 2026 via checked.be.