GREEN4POWER: 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
GREEN4POWER
NACE 35.110, Production of electricity from non-renewable sources
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€344,998
2024 · -€377,393+€722,391
Equity
€9.4m
2024 · €8.4m+€969,998
Cash
€2.2m
2024 · €1.3m+€855,255
Balance sheet total
€80.1m
2024 · €87.9m-€7.8m
Largest movements
Assets
- Tangible fixed assets -€5.9m
down €5.9m (-8.0%), from €74.1m to €68.2m
of which Plant, machinery and equipment: -€4.4m
- Deferred charges and accrued income -€1.3m
down €1.3m (-38.5%), from €3.3m to €2.0m
- Receivables within one year -€956,992
down €956,992 (-48.4%), from €2.0m to €1.0m
of which Trade receivables: -€954,721
Equity and liabilities
- Debts after one year -€5.3m
down €5.3m (-8.1%), from €65.0m to €59.7m
- Trade debts -€4.1m
down €4.1m (-91.5%), from €4.5m to €381,627
- Contributions +€1.0m
up €1.0m (+12.7%), from €7.9m to €8.9m
Income statement
- Turnover +€1.9m
up €1.9m (+16.8%), from €11.1m to €13.0m
- Depreciation +€589,364
up €589,364 (+7.4%), from €8.0m to €8.5m
- Write-downs +€448,401
up €448,401, from -€293,037 to €155,364
- Services and other goods +€270,706
up €270,706 (+16.9%), from €1.6m to €1.9m
- Other operating charges -€137,174
down €137,174 (-87.8%), from €156,171 to €18,997
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
-€377,393
Turnover
+€1.9m
Other operating income
-€66,314
Goods and materials
+€26,379
Services and other goods
-€270,706
Depreciation
-€589,364
Write-downs
-€448,401
Other operating charges
+€137,174
Other operating items
+€60,403
Financial income
+€64,858
Financial charges
-€17,854
Taxes
-€39,914
Result 2025
€344,998
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
+€7.2m
Investment
-€2.1m
Financing
-€4.2m
Cash 2024
€1.3m
From operations (derived)
+€7.2m
Net result for the year
+€344,998
Depreciation
+€8.5m
Receivables within one year
+€956,992
Deferred charges and accrued income
+€1.3m
Trade debts
-€4.1m
Tax, wage and social debts
+€44,522
Other debts
-€385,000
Accrued charges and deferred income
+€523,291
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
-€4.2m
Debts after one year
-€5.3m
Current portion of long-term debt
+€433,891
Contributions, distributions and other
+€625,000
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,941,905 | €80,129,491 | -€7.8m | -8.9% |
| Fixed assets | 21/28 | €81,357,211 | €74,908,320 | -€6.4m | -7.9% |
| Intangible fixed assets | 21 | €40,677 | €66,009 | +€25,333 | +62.3% |
| Tangible fixed assets | 22/27 | €74,116,755 | €68,203,513 | -€5.9m | -8.0% |
| Plant, machinery and equipment | 23 | €72,639,380 | €68,203,513 | -€4.4m | -6.1% |
| Assets under construction and advance payments | 27 | €1,477,375 | €0 | -€1.5m | -100.0% |
| Financial fixed assets | 28 | €7,199,779 | €6,638,797 | -€560,982 | -7.8% |
| Affiliated companies | 280/1 | €6,929,000 | €6,368,018 | -€560,982 | -8.1% |
| Participating interests | 280 | €3,779,000 | €2,700,000 | -€1.1m | -28.6% |
| Amounts receivable | 281 | €3,150,000 | €3,668,018 | +€518,018 | +16.4% |
| Other financial fixed assets | 284/8 | €270,779 | €270,779 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €270,779 | €270,779 | = | 0.0% |
| Current assets | 29/58 | €6,584,694 | €5,221,171 | -€1.4m | -20.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,976,878 | €1,019,886 | -€956,992 | -48.4% |
| Trade receivables | 40 | €1,928,586 | €973,864 | -€954,721 | -49.5% |
| Other amounts receivable | 41 | €48,292 | €46,021 | -€2,271 | -4.7% |
| Cash at bank and in hand | 54/58 | €1,329,475 | €2,184,731 | +€855,255 | +64.3% |
| Deferred charges and accrued income | 490/1 | €3,278,341 | €2,016,555 | -€1.3m | -38.5% |
| Total equity and liabilities | 10/49 | €87,941,905 | €80,129,491 | -€7.8m | -8.9% |
| Equity | 10/15 | €8,401,737 | €9,371,735 | +€969,998 | +11.5% |
| Contributions | 10/11 | €7,900,000 | €8,900,000 | +€1.0m | +12.7% |
| Capital | 10 | €7,900,000 | €8,900,000 | +€1.0m | +12.7% |
| Issued capital | 100 | €15,400,000 | €8,900,000 | -€6.5m | -42.2% |
| Uncalled capital | 101 | €7,500,000 | €0 | -€7.5m | -100.0% |
| Reserves | 13 | €501,737 | €471,500 | -€30,237 | -6.0% |
| Non-distributable reserves | 130/1 | €431,858 | €450,000 | +€18,142 | +4.2% |
| Legal reserve | 130 | €431,858 | €450,000 | +€18,142 | +4.2% |
| Distributable reserves | 133 | €69,879 | €21,500 | -€48,379 | -69.2% |
| Profit (loss) carried forward | 14 | - | €235 | +€235 | |
| Provisions and deferred taxes | 16 | €9,475 | €9,475 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €9,475 | €9,475 | = | 0.0% |
| Pensions and similar obligations | 160 | €9,475 | €9,475 | = | 0.0% |
| Amounts payable | 17/49 | €79,530,693 | €70,748,281 | -€8.8m | -11.0% |
| Amounts payable after more than one year | 17 | €64,953,558 | €59,688,942 | -€5.3m | -8.1% |
| Financial debts | 170/4 | €64,953,558 | €59,688,942 | -€5.3m | -8.1% |
| Subordinated loans | 170 | €19,508,634 | €18,561,513 | -€947,121 | -4.9% |
| Leasing and similar obligations | 172 | €165,279 | €77,384 | -€87,895 | -53.2% |
| Credit institutions | 173 | €45,279,645 | €41,050,044 | -€4.2m | -9.3% |
| Amounts payable within one year | 42/48 | €14,037,399 | €9,996,312 | -€4.0m | -28.8% |
| Current portion of amounts payable after more than one year | 42 | €8,495,395 | €8,929,286 | +€433,891 | +5.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,516,127 | €381,627 | -€4.1m | -91.5% |
| Suppliers | 440/4 | €4,516,127 | €381,627 | -€4.1m | -91.5% |
| Taxes, remuneration and social security | 45 | €225,055 | €269,577 | +€44,522 | +19.8% |
| Taxes | 450/3 | €225,055 | €269,577 | +€44,522 | +19.8% |
| Other amounts payable | 47/48 | €800,822 | €415,822 | -€385,000 | -48.1% |
| Accrued charges and deferred income | 492/3 | €539,736 | €1,063,027 | +€523,291 | +97.0% |
| Operating income | 70/76A | €11,180,328 | €12,980,144 | +€1.8m | +16.1% |
| Turnover | 70 | €11,114,014 | €12,980,144 | +€1.9m | +16.8% |
| Other operating income | 74 | €66,314 | €0 | -€66,314 | -100.0% |
| Operating charges | 60/66A | €9,510,388 | €10,594,904 | +€1.1m | +11.4% |
| Goods for resale, raw materials and consumables | 60 | €26,379 | €0 | -€26,379 | -100.0% |
| Purchases | 600/8 | €26,379 | €0 | -€26,379 | -100.0% |
| Services and other goods | 61 | €1,601,241 | €1,871,947 | +€270,706 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,959,232 | €8,548,596 | +€589,364 | +7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€293,037 | €155,364 | +€448,401 | |
| Other operating charges | 640/8 | €156,171 | €18,997 | -€137,174 | -87.8% |
| Non-recurring operating charges | 66A | €60,403 | €0 | -€60,403 | -100.0% |
| Operating profit (loss) | 9901 | €1,669,939 | €2,385,240 | +€715,301 | +42.8% |
| Financial income | 75/76B | €158,233 | €223,091 | +€64,858 | +41.0% |
| Recurring financial income | 75 | €158,233 | €223,091 | +€64,858 | +41.0% |
| Income from financial fixed assets | 750 | €141,021 | €223,061 | +€82,040 | +58.2% |
| Other financial income | 752/9 | €17,211 | €29 | -€17,182 | -99.8% |
| Financial charges | 65/66B | €2,244,081 | €2,261,935 | +€17,854 | +0.8% |
| Recurring financial charges | 65 | €2,244,081 | €2,261,935 | +€17,854 | +0.8% |
| Debt charges | 650 | €2,244,081 | €2,261,935 | +€17,854 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€415,909 | €346,396 | +€762,305 | |
| Income taxes | 67/77 | -€38,516 | €1,398 | +€39,914 | |
| Taxes | 670/3 | €0 | €1,398 | +€1,398 | |
| Tax adjustments and reversals of tax provisions | 77 | €38,516 | €0 | -€38,516 | -100.0% |
| Profit (loss) for the period | 9904 | -€377,393 | €344,998 | +€722,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€377,393 | €344,998 | +€722,391 |
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 7 October 2026 via checked.be.