GREENGLASS: 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.
GREENGLASS
Largest movements
- Receivables within one year -€481,699
down €481,699 (-15.2%), from €3.2m to €2.7m
of which Other amounts receivable: -€486,631
- Tangible fixed assets +€109,643
up €109,643 (+9.9%), from €1.1m to €1.2m
- Cash +€102,489
up €102,489 (+138%), from €74,284 to €176,773
mainly Receivables within one year (+€481,699) and Depreciation (+€347,787)
- Current investments +€100,000
up €100,000 (+22.2%), from €450,000 to €550,000
- Deferred charges and accrued income +€56,257
up €56,257 (+90.2%), from €62,350 to €118,607
- Trade debts -€53,580
down €53,580 (-10.5%), from €512,573 to €458,993
- Gross operating margin +€149,091
up €149,091 (+26.6%), from €560,407 to €709,499
- Depreciation +€72,167
up €72,167 (+26.2%), from €275,621 to €347,787
- Staff costs +€10,288
up €10,288 (+2.5%), from €418,936 to €429,224
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 | €4,889,792 | €4,798,350 | -€91,442 | -1.9% |
| Fixed assets | 21/28 | €1,112,820 | €1,244,331 | +€131,511 | +11.8% |
| Tangible fixed assets | 22/27 | €1,112,578 | €1,222,221 | +€109,643 | +9.9% |
| Plant, machinery and equipment | 23 | €1,112,578 | €1,222,221 | +€109,643 | +9.9% |
| Financial fixed assets | 28 | €242 | €22,110 | +€21,868 | +9,053% |
| Current assets | 29/58 | €3,776,973 | €3,554,020 | -€222,953 | -5.9% |
| Stocks and contracts in progress | 3 | €30,210 | €30,210 | = | 0.0% |
| Stocks | 30/36 | €30,210 | €30,210 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,160,129 | €2,678,429 | -€481,699 | -15.2% |
| Trade receivables | 40 | €248,409 | €253,341 | +€4,931 | +2.0% |
| Other amounts receivable | 41 | €2,911,719 | €2,425,089 | -€486,631 | -16.7% |
| Current investments | 50/53 | €450,000 | €550,000 | +€100,000 | +22.2% |
| Cash at bank and in hand | 54/58 | €74,284 | €176,773 | +€102,489 | +138% |
| Deferred charges and accrued income | 490/1 | €62,350 | €118,607 | +€56,257 | +90.2% |
| Total equity and liabilities | 10/49 | €4,889,792 | €4,798,350 | -€91,442 | -1.9% |
| Equity | 10/15 | €4,329,415 | €4,297,043 | -€32,372 | -0.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €4,229,415 | €4,197,043 | -€32,372 | -0.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €4,219,415 | €4,187,043 | -€32,372 | -0.8% |
| Amounts payable | 17/49 | €560,377 | €501,308 | -€59,070 | -10.5% |
| Amounts payable within one year | 42/48 | €556,662 | €499,718 | -€56,944 | -10.2% |
| Trade debts | 44 | €512,573 | €458,993 | -€53,580 | -10.5% |
| Suppliers | 440/4 | €512,573 | €458,993 | -€53,580 | -10.5% |
| Taxes, remuneration and social security | 45 | €44,089 | €40,725 | -€3,364 | -7.6% |
| Taxes | 450/3 | €3,330 | €3,208 | -€121 | -3.6% |
| Remuneration and social security | 454/9 | €40,759 | €37,517 | -€3,243 | -8.0% |
| Accrued charges and deferred income | 492/3 | €3,715 | €1,589 | -€2,126 | -57.2% |
| Remuneration, social security and pensions | 62 | €418,936 | €429,224 | +€10,288 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €275,621 | €347,787 | +€72,167 | +26.2% |
| Other operating charges | 640/8 | €2,449 | €7,291 | +€4,842 | +198% |
| Gross operating margin | 9900 | €560,407 | €709,499 | +€149,091 | +26.6% |
| Operating profit (loss) | 9901 | -€136,598 | -€74,803 | +€61,795 | +45.2% |
| Financial income | 75/76B | €44,605 | €43,700 | -€906 | -2.0% |
| Recurring financial income | 75 | €44,605 | €43,700 | -€906 | -2.0% |
| Financial charges | 65/66B | €2,475 | €1,269 | -€1,206 | -48.7% |
| Recurring financial charges | 65 | €2,475 | €1,269 | -€1,206 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | -€94,468 | -€32,372 | +€62,095 | +65.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€94,468 | -€32,372 | +€62,095 | +65.7% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€94,468 | -€32,372 | +€62,095 | +65.7% |
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 28 October 2026 via checked.be.