GreenHorse: 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.
GreenHorse
Largest movements
- Receivables within one year +€9,710
up €9,710 (+109%), from €8,927 to €18,637
of which Other amounts receivable: +€7,610
- Cash -€7,654
down €7,654 (-44.7%), from €17,140 to €9,486
mainly Receivables within one year (-€9,710) and Tax, wage and social debts (-€5,393)
- Tangible fixed assets -€1,101
down €1,101 (-34.8%), from €3,165 to €2,064
of which Furniture and vehicles: -€965
- Tax, wage and social debts -€5,393
down €5,393 (-54.6%), from €9,874 to €4,481
- Profit (loss) carried forward +€4,803
up €4,803 (+57.4%), from €8,364 to €13,167
- Trade debts +€816
up €816 (+53.6%), from €1,521 to €2,337
- Other debts +€587
up €587 (+7.7%), from €7,643 to €8,229
- Gross operating margin +€14,218
up €14,218, from -€6,939 to €7,279
- Depreciation -€925
down €925 (-45.7%), from €2,026 to €1,101
- Financial charges -€357
down €357 (-32.7%), from €1,091 to €734
- Other operating charges -€247
down €247 (-49.6%), from €498 to €251
- Taxes +€234
up €234 (+150%), from €156 to €390
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 | €29,903 | €30,715 | +€812 | +2.7% |
| Fixed assets | 21/28 | €3,165 | €2,064 | -€1,101 | -34.8% |
| Tangible fixed assets | 22/27 | €3,165 | €2,064 | -€1,101 | -34.8% |
| Plant, machinery and equipment | 23 | €262 | €126 | -€136 | -52.0% |
| Furniture and vehicles | 24 | €2,903 | €1,938 | -€965 | -33.2% |
| Current assets | 29/58 | €26,738 | €28,651 | +€1,913 | +7.2% |
| Amounts receivable within one year | 40/41 | €8,927 | €18,637 | +€9,710 | +109% |
| Trade receivables | 40 | €8,927 | €11,027 | +€2,100 | +23.5% |
| Other amounts receivable | 41 | - | €7,610 | +€7,610 | |
| Cash at bank and in hand | 54/58 | €17,140 | €9,486 | -€7,654 | -44.7% |
| Deferred charges and accrued income | 490/1 | €670 | €528 | -€142 | -21.2% |
| Total equity and liabilities | 10/49 | €29,903 | €30,715 | +€812 | +2.7% |
| Equity | 10/15 | €10,864 | €15,667 | +€4,803 | +44.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,364 | €13,167 | +€4,803 | +57.4% |
| Amounts payable | 17/49 | €19,038 | €15,048 | -€3,991 | -21.0% |
| Amounts payable within one year | 42/48 | €19,038 | €15,048 | -€3,991 | -21.0% |
| Trade debts | 44 | €1,521 | €2,337 | +€816 | +53.6% |
| Suppliers | 440/4 | €1,521 | €2,337 | +€816 | +53.6% |
| Taxes, remuneration and social security | 45 | €9,874 | €4,481 | -€5,393 | -54.6% |
| Taxes | 450/3 | €9,874 | €4,481 | -€5,393 | -54.6% |
| Other amounts payable | 47/48 | €7,643 | €8,229 | +€587 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,026 | €1,101 | -€925 | -45.7% |
| Other operating charges | 640/8 | €498 | €251 | -€247 | -49.6% |
| Gross operating margin | 9900 | -€6,939 | €7,279 | +€14,218 | |
| Operating profit (loss) | 9901 | -€9,464 | €5,927 | +€15,391 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,091 | €734 | -€357 | -32.7% |
| Recurring financial charges | 65 | €1,091 | €734 | -€357 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,554 | €5,193 | +€15,747 | |
| Income taxes | 67/77 | €156 | €390 | +€234 | +150% |
| Profit (loss) for the period | 9904 | -€10,710 | €4,803 | +€15,513 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,710 | €4,803 | +€15,513 |
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.