Green Shift: 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 Shift
Largest movements
- Tangible fixed assets -€7,138
down €7,138 (-49.1%), from €14,541 to €7,403
- Receivables within one year +€1,758
up €1,758 (+37.0%), from €4,750 to €6,508
of which Other amounts receivable: +€6,046
- Cash -€356
down €356 (-29.2%), from €1,217 to €861
mainly Net result for the year (-€69,741) and Debts after one year (-€6,584)
- Other debts +€74,978
up €74,978 (+150.6%), from €49,778 to €124,757
- Profit (loss) carried forward -€69,741
down €69,741 (-130.8%), from -€53,301 to -€123,041
- Debts after one year -€6,584
down €6,584 (-92.1%), from €7,145 to €561
- Trade debts -€4,203
down €4,203 (-81.6%), from €5,149 to €947
- Tax, wage and social debts -€460
down €460 (-15.7%), from €2,925 to €2,465
of which Taxes: -€2,763
- Gross operating margin -€20,462
down €20,462 (-50.4%), from -€40,597 to -€61,059
- Other operating charges -€1,627
down €1,627 (-70.5%), from €2,309 to €682
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 | €20,508 | €14,772 | -€5,735 | -28.0% |
| Fixed assets | 21/28 | €14,541 | €7,403 | -€7,138 | -49.1% |
| Tangible fixed assets | 22/27 | €14,541 | €7,403 | -€7,138 | -49.1% |
| Furniture and vehicles | 24 | €14,541 | €7,403 | -€7,138 | -49.1% |
| Current assets | 29/58 | €5,967 | €7,369 | +€1,402 | +23.5% |
| Amounts receivable within one year | 40/41 | €4,750 | €6,508 | +€1,758 | +37.0% |
| Trade receivables | 40 | €4,750 | €462 | -€4,288 | -90.3% |
| Other amounts receivable | 41 | - | €6,046 | +€6,046 | |
| Cash at bank and in hand | 54/58 | €1,217 | €861 | -€356 | -29.2% |
| Total equity and liabilities | 10/49 | €20,508 | €14,772 | -€5,735 | -28.0% |
| Equity | 10/15 | -€50,801 | -€120,541 | -€69,741 | -137.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,301 | -€123,041 | -€69,741 | -130.8% |
| Amounts payable | 17/49 | €71,308 | €135,313 | +€64,005 | +89.8% |
| Amounts payable after more than one year | 17 | €7,145 | €561 | -€6,584 | -92.1% |
| Financial debts | 170/4 | €7,145 | €561 | -€6,584 | -92.1% |
| Amounts payable within one year | 42/48 | €64,163 | €134,752 | +€70,589 | +110.0% |
| Current portion of amounts payable after more than one year | 42 | €6,310 | €6,584 | +€274 | +4.3% |
| Trade debts | 44 | €5,149 | €947 | -€4,203 | -81.6% |
| Suppliers | 440/4 | €5,149 | €947 | -€4,203 | -81.6% |
| Taxes, remuneration and social security | 45 | €2,925 | €2,465 | -€460 | -15.7% |
| Taxes | 450/3 | €2,925 | €162 | -€2,763 | -94.5% |
| Remuneration and social security | 454/9 | - | €2,303 | +€2,303 | |
| Other amounts payable | 47/48 | €49,778 | €124,757 | +€74,978 | +150.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,082 | €7,138 | +€56 | +0.8% |
| Other operating charges | 640/8 | €2,309 | €682 | -€1,627 | -70.5% |
| Gross operating margin | 9900 | -€40,597 | -€61,059 | -€20,462 | -50.4% |
| Operating profit (loss) | 9901 | -€49,988 | -€68,879 | -€18,891 | -37.8% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €894 | €730 | -€164 | -18.4% |
| Recurring financial charges | 65 | €894 | €730 | -€164 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | -€50,867 | -€69,609 | -€18,742 | -36.8% |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€50,995 | -€69,741 | -€18,746 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,995 | -€69,741 | -€18,746 | -36.8% |
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 12 October 2026 via checked.be.