GREEN SHELL: 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 SHELL
Largest movements
- Cash +€3,116
up €3,116 (+46.4%), from €6,713 to €9,829
mainly Receivables within one year (+€2,689) and Depreciation (+€1,571)
- Receivables within one year -€2,689
down €2,689 (-13.6%), from €19,753 to €17,064
of which Trade receivables: -€2,936
- Tangible fixed assets -€1,571
down €1,571 (-34.4%), from €4,571 to €3,000
of which Furniture and vehicles: -€1,254
- Trade debts -€3,076
down €3,076 (-31.2%), from €9,851 to €6,775
- Profit (loss) carried forward +€1,092
up €1,092 (+27.2%), from €4,017 to €5,109
- Tax, wage and social debts +€591
up €591 (+5.0%), from €11,886 to €12,477
of which Remuneration and social security: +€4,061
- Gross operating margin -€5,847
down €5,847 (-60.6%), from €9,653 to €3,806
- Taxes -€1,529
down €1,529 (-83.1%), from €1,840 to €311
- Depreciation +€793
up €793 (+102.0%), from €778 to €1,571
- Other operating charges +€396
up €396 (+98.1%), from €403 to €799
- Financial charges -€105
down €105 (-39.9%), from €262 to €157
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 | €31,954 | €30,561 | -€1,393 | -4.4% |
| Fixed assets | 21/28 | €4,601 | €3,030 | -€1,571 | -34.1% |
| Tangible fixed assets | 22/27 | €4,571 | €3,000 | -€1,571 | -34.4% |
| Furniture and vehicles | 24 | €3,301 | €2,047 | -€1,254 | -38.0% |
| Other tangible fixed assets | 26 | €1,270 | €953 | -€318 | -25.0% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €27,353 | €27,532 | +€178 | +0.7% |
| Amounts receivable within one year | 40/41 | €19,753 | €17,064 | -€2,689 | -13.6% |
| Trade receivables | 40 | €17,741 | €14,805 | -€2,936 | -16.5% |
| Other amounts receivable | 41 | €2,012 | €2,259 | +€248 | +12.3% |
| Cash at bank and in hand | 54/58 | €6,713 | €9,829 | +€3,116 | +46.4% |
| Deferred charges and accrued income | 490/1 | €887 | €638 | -€249 | -28.1% |
| Total equity and liabilities | 10/49 | €31,954 | €30,561 | -€1,393 | -4.4% |
| Equity | 10/15 | €10,217 | €11,309 | +€1,092 | +10.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,017 | €5,109 | +€1,092 | +27.2% |
| Amounts payable | 17/49 | €21,737 | €19,252 | -€2,485 | -11.4% |
| Amounts payable within one year | 42/48 | €21,737 | €19,252 | -€2,485 | -11.4% |
| Trade debts | 44 | €9,851 | €6,775 | -€3,076 | -31.2% |
| Suppliers | 440/4 | €9,851 | €6,775 | -€3,076 | -31.2% |
| Taxes, remuneration and social security | 45 | €11,886 | €12,477 | +€591 | +5.0% |
| Taxes | 450/3 | €11,886 | €8,416 | -€3,470 | -29.2% |
| Remuneration and social security | 454/9 | - | €4,061 | +€4,061 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €778 | €1,571 | +€793 | +102.0% |
| Other operating charges | 640/8 | €403 | €799 | +€396 | +98.1% |
| Gross operating margin | 9900 | €9,653 | €3,806 | -€5,847 | -60.6% |
| Operating profit (loss) | 9901 | €8,472 | €1,435 | -€7,036 | -83.1% |
| Financial income | 75/76B | €25 | €125 | +€101 | +407.5% |
| Recurring financial income | 75 | €25 | €125 | +€101 | +407.5% |
| Financial charges | 65/66B | €262 | €157 | -€105 | -39.9% |
| Recurring financial charges | 65 | €262 | €157 | -€105 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €8,234 | €1,403 | -€6,831 | -83.0% |
| Income taxes | 67/77 | €1,840 | €311 | -€1,529 | -83.1% |
| Profit (loss) for the period | 9904 | €6,394 | €1,092 | -€5,302 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,394 | €1,092 | -€5,302 | -82.9% |
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 8 October 2026 via checked.be.