Green Tara Group: 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.
What changed
Green Tara Group
NACE 64.210, Activities of holding companies
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
-€1.1m
31-12-2024 · €221,414-€1.3m
Equity
€49.6m
31-12-2024 · €8.1m+€41.5m
Cash
€17.1m
31-12-2024 · €415,196+€16.7m
Balance sheet total
€170.1m
31-12-2024 · €9.5m+€160.6m
Largest movements
Assets
- Fixed assets +€66.9m
up €66.9m (+1,831%), from €3.7m to €70.5m
of which Tangible fixed assets: +€51.4m
- Receivables within one year +€45.6m
up €45.6m (+214,968%), from €21,190 to €45.6m
of which Trade receivables: +€33.8m
- Stocks and contracts +€20.8m
new in 2025: €20.8m
- Cash +€16.7m
up €16.7m (+4,010%), from €415,196 to €17.1m
mainly Tax, wage and social debts (+€48.4m) and Contributions, distributions and other (+€42.6m)
- Current investments +€13.0m
new in 2025: €13.0m
Equity and liabilities
- Tax, wage and social debts +€48.4m
up €48.4m (+1,515,687%), from €3,190 to €48.4m
of which Remuneration and social security: +€38.5m
- Equity +€41.5m
up €41.5m (+509%), from €8.1m to €49.6m
of which Contributions: +€30.7m
- Debts after one year +€22.6m
up €22.6m (+2,014%), from €1.1m to €23.7m
- Short-term financial debts +€10.6m
new in 2025: €10.6m
- Accrued charges and deferred income +€9.6m
new in 2025: €9.6m
Income statement
- Turnover +€266.9m
new in 2025: €266.9m
- Staff costs +€173.1m
new in 2025: €173.1m
- Services and other goods +€80.7m
up €80.7m (+51,342%), from €157,171 to €80.9m
- Goods and materials +€34.8m
new in 2025: €34.8m
of which Purchases: +€23.0m
- Other operating income +€33.5m
up €33.5m (+7,763%), from €431,624 to €33.9m
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€221,414
Turnover
+€266.9m
Other operating income
+€33.5m
Goods and materials
-€34.8m
Services and other goods
-€80.7m
Staff costs
-€173.1m
Depreciation
-€8.6m
Write-downs
+€109,340
Other operating charges
-€938,510
Other operating items
-€1.7m
Financial income
-€179,786
Financial charges
-€1.1m
Taxes
-€777,970
Deferred taxes and other
+€58,602
Result 31-12-2025
-€1.1m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€21.0m
Investment
-€88.6m
Financing
+€84.3m
Cash 31-12-2024
€415,196
From operations (derived)
+€21.0m
Net result for the year
-€1.1m
Depreciation
+€8.8m
Receivables after one year
+€4.1m
Stocks and contracts
-€20.8m
Receivables within one year
-€45.6m
Deferred charges and accrued income
-€1.9m
Provisions
+€3.1m
Trade debts
+€7.7m
Tax, wage and social debts
+€48.4m
Advances received
+€8.2m
Other debts
+€485,998
Accrued charges and deferred income
+€9.6m
Investment (derived)
-€88.6m
Investment in fixed assets (net)
-€75.7m
Current investments
-€13.0m
Financing
+€84.3m
Debts after one year
+€22.6m
Current portion of long-term debt
+€8.5m
Short-term financial debts
+€10.6m
Contributions, distributions and other
+€42.6m
Cash 31-12-2025
€17.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,542,007 | €170,128,445 | +€160.6m | +1,683% |
| Fixed assets | 21/28 | €3,650,977 | €70,517,048 | +€66.9m | +1,831% |
| Intangible fixed assets | 21 | - | €7,213,810 | +€7.2m | |
| Tangible fixed assets | 22/27 | €1,718,813 | €53,146,742 | +€51.4m | +2,992% |
| Land and buildings | 22 | €1,718,813 | €21,208,319 | +€19.5m | +1,134% |
| Plant, machinery and equipment | 23 | - | €3,312,606 | +€3.3m | |
| Furniture and vehicles | 24 | - | €4,615,125 | +€4.6m | |
| Leasing and similar rights | 25 | - | €3,272,176 | +€3.3m | |
| Other tangible fixed assets | 26 | - | €20,738,516 | +€20.7m | |
| Financial fixed assets | 28 | €1,932,164 | €248,750 | -€1.7m | -87.1% |
| Companies linked by participating interests | 282/3 | €1,932,164 | - | -€1.9m | |
| Participating interests | 282 | €1,932,164 | - | -€1.9m | |
| Other financial fixed assets | 284/8 | - | €248,750 | +€248,750 | |
| Shares | 284 | - | €40,225 | +€40,225 | |
| Amounts receivable and cash guarantees | 285/8 | - | €208,525 | +€208,525 | |
| Current assets | 29/58 | €5,891,029 | €99,611,397 | +€93.7m | +1,591% |
| Amounts receivable after more than one year | 29 | €5,454,644 | €1,313,754 | -€4.1m | -75.9% |
| Other amounts receivable | 291 | €5,454,644 | €1,313,754 | -€4.1m | -75.9% |
| Stocks and contracts in progress | 3 | - | €20,826,986 | +€20.8m | |
| Stocks | 30/36 | - | €20,826,986 | +€20.8m | |
| Raw materials and consumables | 30/31 | - | €10,184 | +€10,184 | |
| Property held for sale | 35 | - | €20,816,802 | +€20.8m | |
| Amounts receivable within one year | 40/41 | €21,190 | €45,571,885 | +€45.6m | +214,968% |
| Trade receivables | 40 | - | €33,816,482 | +€33.8m | |
| Other amounts receivable | 41 | €21,190 | €11,755,403 | +€11.7m | +55,377% |
| Current investments | 50/53 | - | €12,975,590 | +€13.0m | |
| Own shares | 50 | - | €12,975,590 | +€13.0m | |
| Cash at bank and in hand | 54/58 | €415,196 | €17,066,313 | +€16.7m | +4,010% |
| Deferred charges and accrued income | 490/1 | - | €1,856,869 | +€1.9m | |
| Total equity and liabilities | 10/49 | €9,542,007 | €170,128,445 | +€160.6m | +1,683% |
| Equity | 10/15 | €8,145,800 | €49,636,273 | +€41.5m | +509% |
| Contributions | 10/11 | €61,500 | €30,737,926 | +€30.7m | +49,880% |
| Capital | 10 | €61,500 | €30,737,500 | +€30.7m | +49,880% |
| Issued capital | 100 | €61,500 | €30,737,500 | +€30.7m | +49,880% |
| Contributions outside capital | 11 | - | €426 | +€426 | |
| Share premium | 1100/10 | - | €426 | +€426 | |
| Revaluation surpluses | 12 | - | €0 | +€0 | |
| Reserves | 13 | €552,324 | - | -€552,324 | |
| Non-distributable reserves | 130/1 | €180,000 | - | -€180,000 | |
| Legal reserve | 130 | €180,000 | - | -€180,000 | |
| Tax-exempt reserves | 132 | €371,600 | - | -€371,600 | |
| Distributable reserves | 133 | €724 | - | -€724 | |
| Profit (loss) carried forward | 14 | €7,531,976 | - | -€7.5m | |
| Provisions and deferred taxes | 16 | €151,542 | €3,262,193 | +€3.1m | +2,053% |
| Deferred taxes | 168 | €151,542 | €3,262,193 | +€3.1m | +2,053% |
| Amounts payable | 17/49 | €1,244,664 | €117,229,979 | +€116.0m | +9,319% |
| Amounts payable after more than one year | 17 | €1,121,257 | €23,700,132 | +€22.6m | +2,014% |
| Financial debts | 170/4 | €1,121,257 | €23,700,132 | +€22.6m | +2,014% |
| Leasing and similar obligations | 172 | - | €3,058,849 | +€3.1m | |
| Credit institutions | 173 | €1,121,257 | €19,377,493 | +€18.3m | +1,628% |
| Other loans | 174 | - | €1,263,790 | +€1.3m | |
| Amounts payable within one year | 42/48 | €123,407 | €83,940,383 | +€83.8m | +67,919% |
| Current portion of amounts payable after more than one year | 42 | €97,233 | €8,642,794 | +€8.5m | +8,789% |
| Financial debts | 43 | - | €10,575,967 | +€10.6m | |
| Credit institutions | 430/8 | - | €10,575,967 | +€10.6m | |
| Trade debts | 44 | €18,854 | €7,680,433 | +€7.7m | +40,636% |
| Suppliers | 440/4 | €18,854 | €7,680,433 | +€7.7m | +40,636% |
| Advances received on contracts in progress | 46 | - | €8,197,462 | +€8.2m | |
| Taxes, remuneration and social security | 45 | €3,190 | €48,353,599 | +€48.4m | +1,515,687% |
| Taxes | 450/3 | €1,021 | €9,865,270 | +€9.9m | +966,553% |
| Remuneration and social security | 454/9 | €2,169 | €38,488,329 | +€38.5m | +1,774,014% |
| Other amounts payable | 47/48 | €4,130 | €490,127 | +€485,998 | +11,768% |
| Accrued charges and deferred income | 492/3 | - | €9,589,464 | +€9.6m | |
| Operating income | 70/76A | €431,624 | €301,679,460 | +€301.2m | +69,794% |
| Turnover | 70 | - | €266,918,827 | +€266.9m | |
| Other operating income | 74 | €431,624 | €33,937,536 | +€33.5m | +7,763% |
| Non-recurring operating income | 76A | - | €823,097 | +€823,097 | |
| Operating charges | 60/66A | €333,158 | €300,880,914 | +€300.5m | +90,212% |
| Goods for resale, raw materials and consumables | 60 | - | €34,782,301 | +€34.8m | |
| Purchases | 600/8 | - | €22,965,884 | +€23.0m | |
| Change in stocks: decrease (increase) | 609 | - | €11,816,417 | +€11.8m | |
| Services and other goods | 61 | €157,171 | €80,852,306 | +€80.7m | +51,342% |
| Remuneration, social security and pensions | 62 | - | €173,057,497 | +€173.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €169,425 | €8,797,912 | +€8.6m | +5,093% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€109,340 | -€109,340 | |
| Other operating charges | 640/8 | €6,563 | €945,073 | +€938,510 | +14,301% |
| Non-recurring operating charges | 66A | - | €1,331,658 | +€1.3m | |
| Operating profit (loss) | 9901 | €98,465 | €798,546 | +€700,080 | +711% |
| Financial income | 75/76B | €238,802 | €59,016 | -€179,786 | -75.3% |
| Recurring financial income | 75 | €238,802 | €59,016 | -€179,786 | -75.3% |
| Income from financial fixed assets | 750 | - | €7,247 | +€7,247 | |
| Income from current assets | 751 | €238,802 | - | -€238,802 | |
| Other financial income | 752/9 | - | €51,769 | +€51,769 | |
| Financial charges | 65/66B | €46,946 | €1,185,617 | +€1.1m | +2,426% |
| Recurring financial charges | 65 | €46,946 | €1,185,617 | +€1.1m | +2,426% |
| Debt charges | 650 | €44,052 | €819,144 | +€775,092 | +1,759% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €11,346 | +€11,346 | |
| Other financial charges | 652/9 | €2,894 | €355,127 | +€352,233 | +12,173% |
| Profit (loss) for the period before taxes | 9903 | €290,322 | -€328,055 | -€618,377 | |
| Transfer from deferred taxes | 780 | €11,394 | €69,996 | +€58,602 | +514% |
| Income taxes | 67/77 | €80,302 | €858,272 | +€777,970 | +969% |
| Taxes | 670/3 | €83,811 | €858,272 | +€774,462 | +924% |
| Tax adjustments and reversals of tax provisions | 77 | €3,508 | - | -€3,508 | |
| Profit (loss) for the period | 9904 | €221,414 | -€1,116,331 | -€1.3m | |
| Transfer from tax-exempt reserves | 789 | €26,288 | - | -€26,288 | |
| Profit (loss) for the period to be appropriated | 9905 | €247,702 | - | -€247,702 |
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 26 October 2026 via checked.be.