GREENBURG: 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.
GREENBURG
Largest movements
- Cash +€49,026
up €49,026 (+26.9%), from €182,197 to €231,223
mainly Net result for the year (+€54,750) and Depreciation (+€3,953)
- Tangible fixed assets -€3,953
down €3,953 (-9.3%), from €42,624 to €38,671
of which Furniture and vehicles: -€3,113
- Reserves +€40,000
up €40,000 (+39.3%), from €101,860 to €141,860
of which Distributable reserves: +€40,000
- Profit (loss) carried forward +€4,750
up €4,750 (+3.9%), from €123,325 to €128,075
- Taxes -€5,441
down €5,441 (-32.4%), from €16,787 to €11,346
- Depreciation -€2,948
down €2,948 (-42.7%), from €6,901 to €3,953
- Gross operating margin +€1,893
up €1,893 (+2.8%), from €67,800 to €69,694
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 | €243,447 | €287,556 | +€44,109 | +18.1% |
| Fixed assets | 21/28 | €42,674 | €38,721 | -€3,953 | -9.3% |
| Tangible fixed assets | 22/27 | €42,624 | €38,671 | -€3,953 | -9.3% |
| Land and buildings | 22 | €34,960 | €34,120 | -€840 | -2.4% |
| Furniture and vehicles | 24 | €7,664 | €4,551 | -€3,113 | -40.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €200,773 | €248,835 | +€48,062 | +23.9% |
| Amounts receivable within one year | 40/41 | €18,576 | €17,612 | -€963 | -5.2% |
| Trade receivables | 40 | €11,162 | €11,162 | = | 0.0% |
| Other amounts receivable | 41 | €7,414 | €6,450 | -€963 | -13.0% |
| Cash at bank and in hand | 54/58 | €182,197 | €231,223 | +€49,026 | +26.9% |
| Total equity and liabilities | 10/49 | €243,447 | €287,556 | +€44,109 | +18.1% |
| Equity | 10/15 | €231,385 | €276,135 | +€44,750 | +19.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €101,860 | €141,860 | +€40,000 | +39.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,000 | €140,000 | +€40,000 | +40.0% |
| Profit (loss) carried forward | 14 | €123,325 | €128,075 | +€4,750 | +3.9% |
| Amounts payable | 17/49 | €12,061 | €11,421 | -€640 | -5.3% |
| Amounts payable within one year | 42/48 | €12,061 | €11,421 | -€640 | -5.3% |
| Trade debts | 44 | €113 | €234 | +€120 | +106% |
| Suppliers | 440/4 | €113 | €234 | +€120 | +106% |
| Taxes, remuneration and social security | 45 | €9,779 | €7,239 | -€2,540 | -26.0% |
| Taxes | 450/3 | €9,779 | €7,239 | -€2,540 | -26.0% |
| Other amounts payable | 47/48 | €2,169 | €3,948 | +€1,780 | +82.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,901 | €3,953 | -€2,948 | -42.7% |
| Other operating charges | 640/8 | €699 | €558 | -€141 | -20.2% |
| Gross operating margin | 9900 | €67,800 | €69,694 | +€1,893 | +2.8% |
| Operating profit (loss) | 9901 | €60,201 | €65,183 | +€4,982 | +8.3% |
| Financial income | 75/76B | €798 | €998 | +€200 | +25.1% |
| Recurring financial income | 75 | €798 | €998 | +€200 | +25.1% |
| Financial charges | 65/66B | €89 | €85 | -€3 | -3.5% |
| Recurring financial charges | 65 | €89 | €85 | -€3 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €60,910 | €66,095 | +€5,186 | +8.5% |
| Income taxes | 67/77 | €16,787 | €11,346 | -€5,441 | -32.4% |
| Profit (loss) for the period | 9904 | €44,123 | €54,750 | +€10,627 | +24.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,123 | €54,750 | +€10,627 | +24.1% |
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 14 October 2026 via checked.be.