GREENCORN: 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.
GREENCORN
Largest movements
- Cash +€44,428
up €44,428 (+43.7%), from €101,714 to €146,143
mainly Net result for the year (+€59,047) and Depreciation (+€3,018)
- Tangible fixed assets +€6,127
up €6,127 (+75.3%), from €8,141 to €14,268
of which Other tangible fixed assets: +€4,638
- Reserves +€59,047
up €59,047 (+62.4%), from €94,672 to €153,719
- Tax, wage and social debts -€4,594
down €4,594 (-52.7%), from €8,722 to €4,128
- Other debts -€3,671
no longer reported in 2025 (was €3,671)
- Gross operating margin +€19,494
up €19,494 (+33.0%), from €59,000 to €78,494
- Taxes +€3,795
up €3,795 (+32.4%), from €11,722 to €15,517
- Depreciation +€1,660
up €1,660 (+122.2%), from €1,359 to €3,018
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,840 | €161,746 | +€50,906 | +45.9% |
| Fixed assets | 21/28 | €8,141 | €14,268 | +€6,127 | +75.3% |
| Tangible fixed assets | 22/27 | €8,141 | €14,268 | +€6,127 | +75.3% |
| Furniture and vehicles | 24 | €8,141 | €9,630 | +€1,488 | +18.3% |
| Other tangible fixed assets | 26 | - | €4,638 | +€4,638 | |
| Current assets | 29/58 | €102,699 | €147,478 | +€44,779 | +43.6% |
| Amounts receivable within one year | 40/41 | - | €420 | +€420 | |
| Other amounts receivable | 41 | - | €420 | +€420 | |
| Cash at bank and in hand | 54/58 | €101,714 | €146,143 | +€44,428 | +43.7% |
| Deferred charges and accrued income | 490/1 | €985 | €916 | -€69 | -7.0% |
| Total equity and liabilities | 10/49 | €110,840 | €161,746 | +€50,906 | +45.9% |
| Equity | 10/15 | €97,672 | €156,719 | +€59,047 | +60.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €94,672 | €153,719 | +€59,047 | +62.4% |
| Distributable reserves | 133 | €94,672 | €153,719 | +€59,047 | +62.4% |
| Amounts payable | 17/49 | €13,168 | €5,027 | -€8,141 | -61.8% |
| Amounts payable within one year | 42/48 | €13,168 | €5,027 | -€8,141 | -61.8% |
| Trade debts | 44 | €775 | €899 | +€124 | +16.0% |
| Suppliers | 440/4 | €775 | €899 | +€124 | +16.0% |
| Taxes, remuneration and social security | 45 | €8,722 | €4,128 | -€4,594 | -52.7% |
| Taxes | 450/3 | €8,722 | €4,128 | -€4,594 | -52.7% |
| Other amounts payable | 47/48 | €3,671 | - | -€3,671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,359 | €3,018 | +€1,660 | +122.2% |
| Other operating charges | 640/8 | €211 | €786 | +€575 | +272.2% |
| Gross operating margin | 9900 | €59,000 | €78,494 | +€19,494 | +33.0% |
| Operating profit (loss) | 9901 | €57,430 | €74,689 | +€17,259 | +30.1% |
| Financial income | 75/76B | €56 | - | -€56 | |
| Recurring financial income | 75 | €56 | - | -€56 | |
| Financial charges | 65/66B | €305 | €125 | -€181 | -59.2% |
| Recurring financial charges | 65 | €305 | €125 | -€181 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €57,181 | €74,565 | +€17,384 | +30.4% |
| Income taxes | 67/77 | €11,722 | €15,517 | +€3,795 | +32.4% |
| Profit (loss) for the period | 9904 | €45,458 | €59,047 | +€13,589 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,458 | €59,047 | +€13,589 | +29.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.