GREENFLAG: 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.
GREENFLAG
Largest movements
- Tangible fixed assets +€63,692
up €63,692 (+147%), from €43,470 to €107,162
of which Furniture and vehicles: +€65,567
- Financial fixed assets +€17,379
up €17,379 (+1.8%), from €952,015 to €969,395
- Profit (loss) carried forward +€120,608
up €120,608 (+30.7%), from €392,385 to €512,993
- Other debts -€51,499
down €51,499 (-32.0%), from €160,718 to €109,220
- Debts after one year -€37,205
down €37,205 (-11.6%), from €321,565 to €284,361
- Tax, wage and social debts +€32,552
up €32,552 (+167%), from €19,504 to €52,056
- Current portion of long-term debt +€14,838
up €14,838 (+17.2%), from €86,322 to €101,160
- Gross operating margin +€55,361
up €55,361 (+37.7%), from €146,681 to €202,042
- Taxes +€14,710
up €14,710 (+45.9%), from €32,049 to €46,760
- Depreciation +€4,913
up €4,913 (+31.6%), from €15,528 to €20,441
- Financial charges -€3,579
down €3,579 (-22.3%), from €16,021 to €12,442
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 | €1,015,556 | €1,096,669 | +€81,113 | +8.0% |
| Fixed assets | 21/28 | €995,486 | €1,076,557 | +€81,071 | +8.1% |
| Tangible fixed assets | 22/27 | €43,470 | €107,162 | +€63,692 | +147% |
| Furniture and vehicles | 24 | €36,884 | €102,451 | +€65,567 | +178% |
| Other tangible fixed assets | 26 | €6,586 | €4,711 | -€1,875 | -28.5% |
| Financial fixed assets | 28 | €952,015 | €969,395 | +€17,379 | +1.8% |
| Current assets | 29/58 | €20,070 | €20,112 | +€42 | +0.2% |
| Amounts receivable within one year | 40/41 | €1,360 | €240 | -€1,120 | -82.4% |
| Trade receivables | 40 | €1,360 | €240 | -€1,120 | -82.4% |
| Cash at bank and in hand | 54/58 | €15,192 | €17,017 | +€1,826 | +12.0% |
| Deferred charges and accrued income | 490/1 | €3,518 | €2,855 | -€664 | -18.9% |
| Total equity and liabilities | 10/49 | €1,015,556 | €1,096,669 | +€81,113 | +8.0% |
| Equity | 10/15 | €412,845 | €533,453 | +€120,608 | +29.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €392,385 | €512,993 | +€120,608 | +30.7% |
| Amounts payable | 17/49 | €602,710 | €563,216 | -€39,495 | -6.6% |
| Amounts payable after more than one year | 17 | €321,565 | €284,361 | -€37,205 | -11.6% |
| Financial debts | 170/4 | €321,565 | €284,361 | -€37,205 | -11.6% |
| Amounts payable within one year | 42/48 | €276,578 | €274,343 | -€2,235 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €86,322 | €101,160 | +€14,838 | +17.2% |
| Financial debts | 43 | €5,144 | €5,113 | -€31 | -0.6% |
| Credit institutions | 430/8 | €5,144 | €5,113 | -€31 | -0.6% |
| Trade debts | 44 | €4,890 | €6,794 | +€1,904 | +38.9% |
| Suppliers | 440/4 | €4,890 | €6,794 | +€1,904 | +38.9% |
| Taxes, remuneration and social security | 45 | €19,504 | €52,056 | +€32,552 | +167% |
| Taxes | 450/3 | €19,504 | €52,056 | +€32,552 | +167% |
| Other amounts payable | 47/48 | €160,718 | €109,220 | -€51,499 | -32.0% |
| Accrued charges and deferred income | 492/3 | €4,567 | €4,513 | -€55 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,528 | €20,441 | +€4,913 | +31.6% |
| Other operating charges | 640/8 | €1,936 | €1,792 | -€144 | -7.4% |
| Non-recurring operating charges | 66A | €216 | €0 | -€216 | -100% |
| Gross operating margin | 9900 | €146,681 | €202,042 | +€55,361 | +37.7% |
| Operating profit (loss) | 9901 | €129,001 | €179,809 | +€50,808 | +39.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €16,021 | €12,442 | -€3,579 | -22.3% |
| Recurring financial charges | 65 | €16,021 | €12,442 | -€3,579 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €112,981 | €167,367 | +€54,387 | +48.1% |
| Income taxes | 67/77 | €32,049 | €46,760 | +€14,710 | +45.9% |
| Profit (loss) for the period | 9904 | €80,931 | €120,608 | +€39,676 | +49.0% |
| Profit (loss) for the period to be appropriated | 9905 | €80,931 | €120,608 | +€39,676 | +49.0% |
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.