GREEN-ZEBRA: 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-ZEBRA
Largest movements
- Receivables within one year +€19,441
up €19,441 (+34.3%), from €56,623 to €76,064
of which Other amounts receivable: +€27,977
- Tangible fixed assets -€14,399
down €14,399 (-13.5%), from €106,548 to €92,148
of which Plant, machinery and equipment: -€13,759
- Deferred charges and accrued income +€10,923
up €10,923 (+2,704%), from €404 to €11,327
- Cash +€3,356
up €3,356 (+7.4%), from €45,158 to €48,514
mainly Net result for the year (+€33,779) and Depreciation (+€26,777)
- Profit (loss) carried forward +€33,779
up €33,779 (+81.8%), from €41,276 to €75,055
- Debts after one year -€23,996
down €23,996 (-44.7%), from €53,694 to €29,699
- Accrued charges and deferred income +€8,400
up €8,400 (+16.3%), from €51,600 to €60,000
- Gross operating margin -€10,986
down €10,986 (-13.2%), from €83,240 to €72,254
- Other operating charges -€2,161
down €2,161 (-88.4%), from €2,445 to €284
- Taxes -€1,809
down €1,809 (-17.1%), from €10,580 to €8,771
- Depreciation +€1,451
up €1,451 (+5.7%), from €25,326 to €26,777
- Financial charges -€934
down €934 (-25.3%), from €3,683 to €2,750
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.
Derived cash bridge
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 | €208,733 | €228,053 | +€19,320 | +9.3% |
| Fixed assets | 21/28 | €106,548 | €92,148 | -€14,399 | -13.5% |
| Tangible fixed assets | 22/27 | €106,548 | €92,148 | -€14,399 | -13.5% |
| Plant, machinery and equipment | 23 | €105,908 | €92,148 | -€13,759 | -13.0% |
| Furniture and vehicles | 24 | €640 | - | -€640 | |
| Current assets | 29/58 | €102,185 | €135,905 | +€33,720 | +33.0% |
| Amounts receivable within one year | 40/41 | €56,623 | €76,064 | +€19,441 | +34.3% |
| Trade receivables | 40 | €22,784 | €14,248 | -€8,537 | -37.5% |
| Other amounts receivable | 41 | €33,839 | €61,816 | +€27,977 | +82.7% |
| Cash at bank and in hand | 54/58 | €45,158 | €48,514 | +€3,356 | +7.4% |
| Deferred charges and accrued income | 490/1 | €404 | €11,327 | +€10,923 | +2,704% |
| Total equity and liabilities | 10/49 | €208,733 | €228,053 | +€19,320 | +9.3% |
| Equity | 10/15 | €67,008 | €100,787 | +€33,779 | +50.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €24,732 | €24,732 | = | 0.0% |
| Distributable reserves | 133 | €24,732 | €24,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,276 | €75,055 | +€33,779 | +81.8% |
| Amounts payable | 17/49 | €141,725 | €127,266 | -€14,459 | -10.2% |
| Amounts payable after more than one year | 17 | €53,694 | €29,699 | -€23,996 | -44.7% |
| Financial debts | 170/4 | €53,694 | €29,699 | -€23,996 | -44.7% |
| Amounts payable within one year | 42/48 | €36,431 | €37,568 | +€1,137 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €23,046 | €23,996 | +€950 | +4.1% |
| Trade debts | 44 | €12,801 | €13,013 | +€212 | +1.7% |
| Suppliers | 440/4 | €12,801 | €13,013 | +€212 | +1.7% |
| Taxes, remuneration and social security | 45 | €559 | €559 | = | 0.0% |
| Taxes | 450/3 | €559 | €559 | = | 0.0% |
| Other amounts payable | 47/48 | €25 | - | -€25 | |
| Accrued charges and deferred income | 492/3 | €51,600 | €60,000 | +€8,400 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,326 | €26,777 | +€1,451 | +5.7% |
| Other operating charges | 640/8 | €2,445 | €284 | -€2,161 | -88.4% |
| Gross operating margin | 9900 | €83,240 | €72,254 | -€10,986 | -13.2% |
| Operating profit (loss) | 9901 | €55,469 | €45,193 | -€10,275 | -18.5% |
| Financial income | 75/76B | €71 | €107 | +€36 | +50.1% |
| Recurring financial income | 75 | €71 | €107 | +€36 | +50.1% |
| Financial charges | 65/66B | €3,683 | €2,750 | -€934 | -25.3% |
| Recurring financial charges | 65 | €3,683 | €2,750 | -€934 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €51,856 | €42,550 | -€9,306 | -17.9% |
| Income taxes | 67/77 | €10,580 | €8,771 | -€1,809 | -17.1% |
| Profit (loss) for the period | 9904 | €41,276 | €33,779 | -€7,497 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,276 | €33,779 | -€7,497 | -18.2% |
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 19 October 2026 via checked.be.