GREEN MACHINE: 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 MACHINE
Largest movements
- Cash +€173,768
up €173,768 (+44.7%), from €388,971 to €562,739
mainly Trade debts (+€210,015) and Depreciation (+€54,489)
- Receivables within one year +€141,079
up €141,079 (+12.4%), from €1.1m to €1.3m
of which Other amounts receivable: +€138,943
- Stocks and contracts -€49,261
down €49,261 (-2.9%), from €1.7m to €1.6m
- Tangible fixed assets -€35,992
down €35,992 (-24.2%), from €148,954 to €112,962
- Trade debts +€210,015
up €210,015 (+27.5%), from €764,893 to €974,908
- Debts after one year -€77,552
down €77,552 (-45.9%), from €168,928 to €91,376
- Gross operating margin +€135,004
up €135,004 (+18.6%), from €724,629 to €859,634
- Staff costs +€84,336
up €84,336 (+13.9%), from €607,252 to €691,589
- Other operating charges +€31,123
up €31,123 (+3065.5%), from €1,015 to €32,138
- Financial charges -€10,193
down €10,193 (-22.3%), from €45,783 to €35,590
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 | €3,380,572 | €3,597,776 | +€217,204 | +6.4% |
| Fixed assets | 21/28 | €157,025 | €121,033 | -€35,992 | -22.9% |
| Tangible fixed assets | 22/27 | €148,954 | €112,962 | -€35,992 | -24.2% |
| Plant, machinery and equipment | 23 | €92,048 | €81,341 | -€10,707 | -11.6% |
| Furniture and vehicles | 24 | €35,839 | €20,641 | -€15,198 | -42.4% |
| Leasing and similar rights | 25 | €19,923 | €9,961 | -€9,961 | -50.0% |
| Other tangible fixed assets | 26 | €1,145 | €1,019 | -€126 | -11.0% |
| Financial fixed assets | 28 | €8,071 | €8,071 | = | 0.0% |
| Current assets | 29/58 | €3,223,548 | €3,476,743 | +€253,196 | +7.9% |
| Stocks and contracts in progress | 3 | €1,680,392 | €1,631,131 | -€49,261 | -2.9% |
| Stocks | 30/36 | €1,680,392 | €1,631,131 | -€49,261 | -2.9% |
| Amounts receivable within one year | 40/41 | €1,141,794 | €1,282,873 | +€141,079 | +12.4% |
| Trade receivables | 40 | €508,736 | €510,871 | +€2,135 | +0.4% |
| Other amounts receivable | 41 | €633,058 | €772,001 | +€138,943 | +21.9% |
| Cash at bank and in hand | 54/58 | €388,971 | €562,739 | +€173,768 | +44.7% |
| Deferred charges and accrued income | 490/1 | €12,390 | - | -€12,390 | |
| Total equity and liabilities | 10/49 | €3,380,572 | €3,597,776 | +€217,204 | +6.4% |
| Equity | 10/15 | €554,627 | €587,467 | +€32,840 | +5.9% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €31,039 | €31,039 | = | 0.0% |
| Distributable reserves | 133 | €31,039 | €31,039 | = | 0.0% |
| Profit (loss) carried forward | 14 | €504,838 | €537,678 | +€32,840 | +6.5% |
| Amounts payable | 17/49 | €2,825,945 | €3,010,309 | +€184,364 | +6.5% |
| Amounts payable after more than one year | 17 | €168,928 | €91,376 | -€77,552 | -45.9% |
| Financial debts | 170/4 | €168,928 | €91,376 | -€77,552 | -45.9% |
| Amounts payable within one year | 42/48 | €2,657,017 | €2,918,933 | +€261,915 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €76,378 | €77,552 | +€1,174 | +1.5% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €764,893 | €974,908 | +€210,015 | +27.5% |
| Suppliers | 440/4 | €764,893 | €974,908 | +€210,015 | +27.5% |
| Taxes, remuneration and social security | 45 | €102,777 | €121,841 | +€19,064 | +18.5% |
| Taxes | 450/3 | €23,052 | €39,320 | +€16,268 | +70.6% |
| Remuneration and social security | 454/9 | €79,726 | €82,521 | +€2,795 | +3.5% |
| Other amounts payable | 47/48 | €1,462,969 | €1,494,632 | +€31,663 | +2.2% |
| Non-recurring operating income | 76A | - | €28,528 | +€28,528 | |
| Remuneration, social security and pensions | 62 | €607,252 | €691,589 | +€84,336 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,009 | €54,489 | +€3,480 | +6.8% |
| Other operating charges | 640/8 | €1,015 | €32,138 | +€31,123 | +3065.5% |
| Gross operating margin | 9900 | €724,629 | €859,634 | +€135,004 | +18.6% |
| Operating profit (loss) | 9901 | €65,353 | €81,417 | +€16,064 | +24.6% |
| Financial income | 75/76B | €2,215 | €3,098 | +€883 | +39.8% |
| Recurring financial income | 75 | €2,215 | €3,098 | +€883 | +39.8% |
| Financial charges | 65/66B | €45,783 | €35,590 | -€10,193 | -22.3% |
| Recurring financial charges | 65 | €45,783 | €35,590 | -€10,193 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €21,786 | €48,925 | +€27,140 | +124.6% |
| Income taxes | 67/77 | €8,115 | €16,071 | +€7,956 | +98.0% |
| Profit (loss) for the period | 9904 | €13,671 | €32,855 | +€19,184 | +140.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,671 | €32,855 | +€19,184 | +140.3% |
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 30 September 2026 via checked.be.