GREEN WIND: 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.
What changed
GREEN WIND
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.3m
2024 · €1.0m-€2.3m
Equity
€45.0m
2024 · €48.2m-€3.3m
Cash
€3.4m
2024 · €299,878+€3.1m
Balance sheet total
€52.0m
2024 · €52.4m-€408,436
Largest movements
Assets
- Tangible fixed assets -€3.1m
down €3.1m (-6.5%), from €48.8m to €45.6m
of which Land and buildings: -€3.2m
- Cash +€3.1m
up €3.1m (+1028.3%), from €299,878 to €3.4m
mainly Depreciation (+€3.1m) and Trade debts (+€1.1m)
Equity and liabilities
- Profit (loss) carried forward -€3.3m
down €3.3m (-15.7%), from €20.8m to €17.5m
- Trade debts +€1.1m
up €1.1m (+74.5%), from €1.5m to €2.6m
- Provisions +€985,935
up €985,935 (+87.0%), from €1.1m to €2.1m
- Other debts +€846,927
up €846,927 (+73.4%), from €1.2m to €2.0m
Income statement
- Turnover -€1.6m
down €1.6m (-18.7%), from €8.6m to €7.0m
- Services and other goods +€1.1m
up €1.1m (+31.6%), from €3.4m to €4.5m
- Provisions +€1.0m
up €1.0m, from -€29,652 to €985,935
- Taxes -€411,598
down €411,598 (-100.0%), from €411,598 to €0
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.
Result 2024
€1.0m
Turnover
-€1.6m
Other operating income
-€19,983
Services and other goods
-€1.1m
Depreciation
+€141
Provisions
-€1.0m
Other operating charges
+€21,676
Other operating items
+€986,765
Financial charges
-€6,946
Taxes
+€411,598
Result 2025
-€1.3m
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.
From operations
+€5.1m
Investment
€0
Financing
-€2.0m
Cash 2024
€299,878
From operations (derived)
+€5.1m
Net result for the year
-€1.3m
Depreciation
+€3.1m
Receivables within one year
+€363,666
Deferred charges and accrued income
-€18,594
Provisions
+€985,935
Trade debts
+€1.1m
Tax, wage and social debts
-€81,118
Other debts
+€846,927
Financing
-€2.0m
Contributions, distributions and other
-€2.0m
Cash 2025
€3.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €52,389,360 | €51,980,924 | -€408,436 | -0.8% |
| Fixed assets | 21/28 | €48,759,260 | €45,612,196 | -€3.1m | -6.5% |
| Tangible fixed assets | 22/27 | €48,756,760 | €45,609,696 | -€3.1m | -6.5% |
| Land and buildings | 22 | €48,514,209 | €45,284,247 | -€3.2m | -6.7% |
| Furniture and vehicles | 24 | €602 | €151 | -€451 | -74.9% |
| Assets under construction and advance payments | 27 | €241,949 | €325,297 | +€83,348 | +34.4% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €3,630,100 | €6,368,728 | +€2.7m | +75.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,290,197 | €2,926,532 | -€363,666 | -11.1% |
| Trade receivables | 40 | €2,554,014 | €2,043,888 | -€510,126 | -20.0% |
| Other amounts receivable | 41 | €736,183 | €882,643 | +€146,460 | +19.9% |
| Cash at bank and in hand | 54/58 | €299,878 | €3,383,579 | +€3.1m | +1028.3% |
| Deferred charges and accrued income | 490/1 | €40,024 | €58,618 | +€18,594 | +46.5% |
| Total equity and liabilities | 10/49 | €52,389,360 | €51,980,924 | -€408,436 | -0.8% |
| Equity | 10/15 | €48,232,621 | €44,960,812 | -€3.3m | -6.8% |
| Contributions | 10/11 | €24,924,000 | €24,924,000 | = | 0.0% |
| Capital | 10 | €24,924,000 | €24,924,000 | = | 0.0% |
| Issued capital | 100 | €24,924,000 | €24,924,000 | = | 0.0% |
| Reserves | 13 | €2,492,400 | €2,492,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,492,400 | €2,492,400 | = | 0.0% |
| Legal reserve | 130 | €2,492,400 | €2,492,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,816,221 | €17,544,412 | -€3.3m | -15.7% |
| Provisions and deferred taxes | 16 | €1,133,444 | €2,119,379 | +€985,935 | +87.0% |
| Provisions for liabilities and charges | 160/5 | €1,133,444 | €2,119,379 | +€985,935 | +87.0% |
| Other liabilities and charges | 164/5 | €1,133,444 | €2,119,379 | +€985,935 | +87.0% |
| Amounts payable | 17/49 | €3,023,295 | €4,900,733 | +€1.9m | +62.1% |
| Amounts payable within one year | 42/48 | €3,023,295 | €4,900,733 | +€1.9m | +62.1% |
| Trade debts | 44 | €1,491,565 | €2,603,194 | +€1.1m | +74.5% |
| Suppliers | 440/4 | €1,491,565 | €2,603,194 | +€1.1m | +74.5% |
| Taxes, remuneration and social security | 45 | €378,657 | €297,539 | -€81,118 | -21.4% |
| Taxes | 450/3 | €378,657 | €297,539 | -€81,118 | -21.4% |
| Other amounts payable | 47/48 | €1,153,073 | €2,000,000 | +€846,927 | +73.4% |
| Operating income | 70/76A | €9,178,920 | €7,808,449 | -€1.4m | -14.9% |
| Turnover | 70 | €8,570,922 | €6,964,091 | -€1.6m | -18.7% |
| Other operating income | 74 | €19,983 | €0 | -€19,983 | -100.0% |
| Non-recurring operating income | 76A | €588,016 | €844,358 | +€256,342 | +43.6% |
| Operating charges | 60/66A | €7,721,020 | €9,072,050 | +€1.4m | +17.5% |
| Services and other goods | 61 | €3,443,500 | €4,531,183 | +€1.1m | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,147,205 | €3,147,064 | -€141 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€29,652 | €985,935 | +€1.0m | |
| Other operating charges | 640/8 | €429,544 | €407,868 | -€21,676 | -5.0% |
| Non-recurring operating charges | 66A | €730,423 | €0 | -€730,423 | -100.0% |
| Operating profit (loss) | 9901 | €1,457,900 | -€1,263,602 | -€2.7m | |
| Financial charges | 65/66B | €1,261 | €8,207 | +€6,946 | +550.8% |
| Recurring financial charges | 65 | €1,261 | €8,207 | +€6,946 | +550.8% |
| Debt charges | 650 | - | €4,305 | +€4,305 | |
| Other financial charges | 652/9 | €1,261 | €3,903 | +€2,641 | +209.4% |
| Profit (loss) for the period before taxes | 9903 | €1,456,639 | -€1,271,809 | -€2.7m | |
| Income taxes | 67/77 | €411,598 | €0 | -€411,598 | -100.0% |
| Taxes | 670/3 | €411,598 | €0 | -€411,598 | -100.0% |
| Profit (loss) for the period | 9904 | €1,045,041 | -€1,271,809 | -€2.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,045,041 | -€1,271,809 | -€2.3m |
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 2 October 2026 via checked.be.