Greenfield: 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.
Greenfield
Largest movements
- Receivables within one year -€35,978
down €35,978 (-12.9%), from €278,998 to €243,020
of which Trade receivables: -€78,995
- Intangible fixed assets -€30,975
down €30,975 (-5.5%), from €561,438 to €530,463
- Stocks and contracts +€28,747
up €28,747 (+4.6%), from €621,721 to €650,468
- Debts after one year -€104,276
down €104,276 (-13.2%), from €792,755 to €688,479
- Short-term financial debts +€89,700
up €89,700 (+897%), from €10,000 to €99,700
of which Credit institutions: +€99,700
- Trade debts -€50,916
down €50,916 (-28.3%), from €179,863 to €128,947
- Tax, wage and social debts +€47,670
up €47,670 (+124%), from €38,546 to €86,216
of which Remuneration and social security: +€45,279
- Other debts -€20,157
down €20,157 (-3.8%), from €531,382 to €511,224
- Gross operating margin +€164,811
up €164,811 (+46.7%), from €352,811 to €517,623
- Staff costs +€83,160
up €83,160 (+28.7%), from €289,376 to €372,537
- Depreciation +€7,601
up €7,601 (+6.5%), from €116,879 to €124,481
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 | €1,592,815 | €1,558,742 | -€34,073 | -2.1% |
| Fixed assets | 21/28 | €658,980 | €622,910 | -€36,070 | -5.5% |
| Intangible fixed assets | 21 | €561,438 | €530,463 | -€30,975 | -5.5% |
| Tangible fixed assets | 22/27 | €97,542 | €92,447 | -€5,095 | -5.2% |
| Land and buildings | 22 | €60,814 | €54,925 | -€5,888 | -9.7% |
| Plant, machinery and equipment | 23 | €5,734 | €6,273 | +€539 | +9.4% |
| Furniture and vehicles | 24 | €773 | €572 | -€200 | -25.9% |
| Other tangible fixed assets | 26 | €30,221 | €30,676 | +€455 | +1.5% |
| Current assets | 29/58 | €933,835 | €935,832 | +€1,997 | +0.2% |
| Stocks and contracts in progress | 3 | €621,721 | €650,468 | +€28,747 | +4.6% |
| Stocks | 30/36 | €621,721 | €650,468 | +€28,747 | +4.6% |
| Amounts receivable within one year | 40/41 | €278,998 | €243,020 | -€35,978 | -12.9% |
| Trade receivables | 40 | €149,185 | €70,190 | -€78,995 | -53.0% |
| Other amounts receivable | 41 | €129,813 | €172,830 | +€43,017 | +33.1% |
| Cash at bank and in hand | 54/58 | €1,413 | €12,210 | +€10,797 | +764% |
| Deferred charges and accrued income | 490/1 | €31,702 | €30,133 | -€1,569 | -5.0% |
| Total equity and liabilities | 10/49 | €1,592,815 | €1,558,742 | -€34,073 | -2.1% |
| Equity | 10/15 | -€61,974 | -€60,100 | +€1,874 | +3.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,974 | -€62,100 | +€1,874 | +2.9% |
| Amounts payable | 17/49 | €1,654,789 | €1,618,842 | -€35,948 | -2.2% |
| Amounts payable after more than one year | 17 | €792,755 | €688,479 | -€104,276 | -13.2% |
| Financial debts | 170/4 | €792,755 | €688,479 | -€104,276 | -13.2% |
| Amounts payable within one year | 42/48 | €862,035 | €930,363 | +€68,329 | +7.9% |
| Current portion of amounts payable after more than one year | 42 | €102,244 | €104,276 | +€2,033 | +2.0% |
| Financial debts | 43 | €10,000 | €99,700 | +€89,700 | +897% |
| Credit institutions | 430/8 | €0 | €99,700 | +€99,700 | |
| Other loans | 439 | €10,000 | €0 | -€10,000 | -100% |
| Trade debts | 44 | €179,863 | €128,947 | -€50,916 | -28.3% |
| Suppliers | 440/4 | €179,863 | €128,947 | -€50,916 | -28.3% |
| Taxes, remuneration and social security | 45 | €38,546 | €86,216 | +€47,670 | +124% |
| Taxes | 450/3 | €16,860 | €19,251 | +€2,391 | +14.2% |
| Remuneration and social security | 454/9 | €21,686 | €66,965 | +€45,279 | +209% |
| Other amounts payable | 47/48 | €531,382 | €511,224 | -€20,157 | -3.8% |
| Remuneration, social security and pensions | 62 | €289,376 | €372,537 | +€83,160 | +28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,879 | €124,481 | +€7,601 | +6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,134 | €5,830 | +€695 | +13.5% |
| Gross operating margin | 9900 | €352,811 | €517,623 | +€164,811 | +46.7% |
| Operating profit (loss) | 9901 | -€58,578 | €14,776 | +€73,354 | |
| Financial income | 75/76B | €3,612 | €1,143 | -€2,468 | -68.3% |
| Recurring financial income | 75 | €3,612 | €1,143 | -€2,468 | -68.3% |
| Financial charges | 65/66B | €19,185 | €14,045 | -€5,140 | -26.8% |
| Recurring financial charges | 65 | €19,185 | €14,045 | -€5,140 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | -€74,152 | €1,874 | +€76,026 | |
| Profit (loss) for the period | 9904 | -€74,152 | €1,874 | +€76,026 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,152 | €1,874 | +€76,026 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.