Greenfrun: 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.
Greenfrun
Largest movements
- Tangible fixed assets -€539,460
down €539,460 (-14.0%), from €3.9m to €3.3m
- Receivables within one year +€199,383
up €199,383 (+17.9%), from €1.1m to €1.3m
of which Other amounts receivable: +€250,506
- Cash -€192,370
down €192,370 (-17.2%), from €1.1m to €925,844
mainly Debts after one year (-€601,141) and Receivables within one year (-€199,383)
- Intangible fixed assets -€95,043
down €95,043 (-14.5%), from €653,583 to €558,540
- Debts after one year -€601,141
down €601,141 (-30.6%), from €2.0m to €1.4m
- Profit (loss) carried forward +€203,123
up €203,123 (+8.7%), from €2.3m to €2.5m
- Current portion of long-term debt -€90,182
down €90,182 (-14.9%), from €603,323 to €513,140
- Gross operating margin -€193,906
down €193,906 (-17.2%), from €1.1m to €930,222
- Financial charges -€88,234
down €88,234 (-43.7%), from €201,695 to €113,462
- Taxes -€24,341
down €24,341 (-33.5%), from €72,722 to €48,381
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,783,182 | €6,144,019 | -€639,163 | -9.4% |
| Fixed assets | 21/28 | €4,520,014 | €3,885,511 | -€634,503 | -14.0% |
| Intangible fixed assets | 21 | €653,583 | €558,540 | -€95,043 | -14.5% |
| Tangible fixed assets | 22/27 | €3,866,431 | €3,326,971 | -€539,460 | -14.0% |
| Leasing and similar rights | 25 | €3,866,431 | €3,326,971 | -€539,460 | -14.0% |
| Current assets | 29/58 | €2,263,168 | €2,258,508 | -€4,660 | -0.2% |
| Amounts receivable within one year | 40/41 | €1,115,002 | €1,314,385 | +€199,383 | +17.9% |
| Trade receivables | 40 | €72,258 | €21,135 | -€51,122 | -70.7% |
| Other amounts receivable | 41 | €1,042,744 | €1,293,250 | +€250,506 | +24.0% |
| Cash at bank and in hand | 54/58 | €1,118,214 | €925,844 | -€192,370 | -17.2% |
| Deferred charges and accrued income | 490/1 | €29,951 | €18,278 | -€11,673 | -39.0% |
| Total equity and liabilities | 10/49 | €6,783,182 | €6,144,019 | -€639,163 | -9.4% |
| Equity | 10/15 | €3,983,749 | €4,122,952 | +€139,203 | +3.5% |
| Contributions | 10/11 | €728,600 | €728,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,323,643 | €2,526,766 | +€203,123 | +8.7% |
| Investment grants | 15 | €929,646 | €865,726 | -€63,920 | -6.9% |
| Amounts payable | 17/49 | €2,799,433 | €2,021,066 | -€778,367 | -27.8% |
| Amounts payable after more than one year | 17 | €1,964,520 | €1,363,378 | -€601,141 | -30.6% |
| Financial debts | 170/4 | €1,964,520 | €1,363,378 | -€601,141 | -30.6% |
| Amounts payable within one year | 42/48 | €752,276 | €629,539 | -€122,737 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €603,323 | €513,140 | -€90,182 | -14.9% |
| Trade debts | 44 | €131,914 | €114,739 | -€17,175 | -13.0% |
| Suppliers | 440/4 | €131,914 | €114,739 | -€17,175 | -13.0% |
| Taxes, remuneration and social security | 45 | €17,039 | €1,660 | -€15,379 | -90.3% |
| Taxes | 450/3 | €17,039 | €1,660 | -€15,379 | -90.3% |
| Accrued charges and deferred income | 492/3 | €82,638 | €28,149 | -€54,488 | -65.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €634,503 | €634,503 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,903 | €2,127 | +€225 | +11.8% |
| Gross operating margin | 9900 | €1,124,128 | €930,222 | -€193,906 | -17.2% |
| Operating profit (loss) | 9901 | €487,722 | €293,591 | -€194,131 | -39.8% |
| Financial income | 75/76B | €68,750 | €71,375 | +€2,625 | +3.8% |
| Recurring financial income | 75 | €68,750 | €71,375 | +€2,625 | +3.8% |
| Financial charges | 65/66B | €201,695 | €113,462 | -€88,234 | -43.7% |
| Recurring financial charges | 65 | €201,695 | €113,462 | -€88,234 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €354,776 | €251,504 | -€103,272 | -29.1% |
| Income taxes | 67/77 | €72,722 | €48,381 | -€24,341 | -33.5% |
| Profit (loss) for the period | 9904 | €282,054 | €203,123 | -€78,931 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €282,054 | €203,123 | -€78,931 | -28.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.