GREENFIELD SELECTION: 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 SELECTION
Largest movements
- Receivables after one year -€185,065
down €185,065 (-20.1%), from €922,177 to €737,112
- Cash +€70,051
up €70,051 (+135%), from €51,883 to €121,934
mainly Receivables after one year (+€185,065) and Net result for the year (+€60,526)
- Current investments -€25,500
down €25,500 (-100%), from €25,500 to €0
- Receivables within one year +€16,204
up €16,204 (+11.4%), from €142,463 to €158,667
of which Other amounts receivable: +€15,748
- Reserves -€60,220
down €60,220 (-5.8%), from €1.0m to €973,636
of which Distributable reserves: -€60,220
- Other debts -€58,509
down €58,509 (-43.0%), from €135,912 to €77,403
- Financial income -€7,227
down €7,227 (-47.5%), from €15,227 to €8,001
- Financial charges -€4,916
down €4,916 (-41.5%), from €11,855 to €6,940
- Gross operating margin +€2,849
up €2,849 (+2.7%), from €107,511 to €110,361
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 | €1,560,828 | €1,415,683 | -€145,145 | -9.3% |
| Fixed assets | 21/28 | €402,200 | €388,794 | -€13,405 | -3.3% |
| Tangible fixed assets | 22/27 | €402,200 | €388,794 | -€13,405 | -3.3% |
| Land and buildings | 22 | €401,954 | €388,794 | -€13,160 | -3.3% |
| Furniture and vehicles | 24 | €245 | €0 | -€245 | -100% |
| Current assets | 29/58 | €1,158,629 | €1,026,889 | -€131,740 | -11.4% |
| Amounts receivable after more than one year | 29 | €922,177 | €737,112 | -€185,065 | -20.1% |
| Trade receivables | 290 | €922,177 | €737,112 | -€185,065 | -20.1% |
| Amounts receivable within one year | 40/41 | €142,463 | €158,667 | +€16,204 | +11.4% |
| Trade receivables | 40 | €63,295 | €63,751 | +€456 | +0.7% |
| Other amounts receivable | 41 | €79,168 | €94,916 | +€15,748 | +19.9% |
| Current investments | 50/53 | €25,500 | €0 | -€25,500 | -100% |
| Cash at bank and in hand | 54/58 | €51,883 | €121,934 | +€70,051 | +135% |
| Deferred charges and accrued income | 490/1 | €16,606 | €9,175 | -€7,430 | -44.7% |
| Total equity and liabilities | 10/49 | €1,560,828 | €1,415,683 | -€145,145 | -9.3% |
| Equity | 10/15 | €1,370,284 | €1,310,064 | -€60,220 | -4.4% |
| Contributions | 10/11 | €335,000 | €335,000 | = | 0.0% |
| Capital | 10 | €335,000 | €335,000 | = | 0.0% |
| Issued capital | 100 | €335,000 | €335,000 | = | 0.0% |
| Reserves | 13 | €1,033,856 | €973,636 | -€60,220 | -5.8% |
| Non-distributable reserves | 130/1 | €33,500 | €33,500 | = | 0.0% |
| Legal reserve | 130 | €33,500 | €33,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,516 | €17,516 | = | 0.0% |
| Distributable reserves | 133 | €982,840 | €922,620 | -€60,220 | -6.1% |
| Profit (loss) carried forward | 14 | €1,428 | €1,428 | = | 0.0% |
| Amounts payable | 17/49 | €190,544 | €105,619 | -€84,925 | -44.6% |
| Amounts payable after more than one year | 17 | €11,381 | €0 | -€11,381 | -100% |
| Financial debts | 170/4 | €11,381 | €0 | -€11,381 | -100% |
| Amounts payable within one year | 42/48 | €169,336 | €99,533 | -€69,803 | -41.2% |
| Current portion of amounts payable after more than one year | 42 | €26,954 | €11,381 | -€15,573 | -57.8% |
| Trade debts | 44 | €310 | €365 | +€54 | +17.5% |
| Suppliers | 440/4 | €310 | €365 | +€54 | +17.5% |
| Taxes, remuneration and social security | 45 | €6,160 | €10,385 | +€4,225 | +68.6% |
| Taxes | 450/3 | €6,160 | €10,385 | +€4,225 | +68.6% |
| Other amounts payable | 47/48 | €135,912 | €77,403 | -€58,509 | -43.0% |
| Accrued charges and deferred income | 492/3 | €9,827 | €6,086 | -€3,741 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,655 | €13,405 | -€250 | -1.8% |
| Other operating charges | 640/8 | €8,229 | €8,567 | +€338 | +4.1% |
| Gross operating margin | 9900 | €107,511 | €110,361 | +€2,849 | +2.7% |
| Operating profit (loss) | 9901 | €85,628 | €88,388 | +€2,761 | +3.2% |
| Financial income | 75/76B | €15,227 | €8,001 | -€7,227 | -47.5% |
| Recurring financial income | 75 | €15,227 | €8,001 | -€7,227 | -47.5% |
| Financial charges | 65/66B | €11,855 | €6,940 | -€4,916 | -41.5% |
| Recurring financial charges | 65 | €11,855 | €6,940 | -€4,916 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €89,000 | €89,449 | +€449 | +0.5% |
| Income taxes | 67/77 | €28,748 | €28,923 | +€175 | +0.6% |
| Profit (loss) for the period | 9904 | €60,252 | €60,526 | +€274 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,252 | €60,526 | +€274 | +0.5% |
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 25 October 2026 via checked.be.