GREENHOUSE.BRUSSELS: 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.
What changed
GREENHOUSE.BRUSSELS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€82,800
2024 · -€39,434-€43,366
Equity
€1.9m
2024 · €2.0m-€82,800
Cash
€145,118
2024 · €119,757+€25,361
Balance sheet total
€5.3m
2024 · €5.5m-€192,481
Largest movements
Assets
- Tangible fixed assets -€219,689
down €219,689 (-4.1%), from €5.3m to €5.1m
of which Land and buildings: -€197,540
Equity and liabilities
- Debts after one year -€162,852
down €162,852 (-5.0%), from €3.2m to €3.1m
of which Financial debts: -€162,852
- Profit (loss) carried forward -€82,800
down €82,800 (-15.6%), from -€531,515 to -€614,315
Income statement
- Gross operating margin -€35,656
down €35,656 (-9.6%), from €373,174 to €337,518
- Other operating charges +€10,139
up €10,139 (+13.9%), from €72,776 to €82,915
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.
Result 2024
-€39,434
Gross operating margin
-€35,656
Depreciation
-€1,385
Other operating charges
-€10,139
Financial income
+€321
Financial charges
+€3,589
Taxes
-€96
Result 2025
-€82,800
raises the resultlowers the result
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.
From operations
+€238,556
Investment
-€54,158
Financing
-€159,036
Cash 2024
€119,757
From operations (derived)
+€238,556
Net result for the year
-€82,800
Depreciation
+€273,724
Receivables within one year
+€55
Deferred charges and accrued income
-€1,779
Trade debts
+€14,058
Accrued charges and deferred income
+€35,298
Investment (derived)
-€54,158
Investment in fixed assets (net)
-€54,158
Financing
-€159,036
Debts after one year
-€162,852
Current portion of long-term debt
+€3,815
Cash 2025
€145,118
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,459,630 | €5,267,150 | -€192,481 | -3.5% |
| Fixed assets | 21/28 | €5,326,982 | €5,107,416 | -€219,566 | -4.1% |
| Tangible fixed assets | 22/27 | €5,301,927 | €5,082,238 | -€219,689 | -4.1% |
| Land and buildings | 22 | €5,212,921 | €5,015,381 | -€197,540 | -3.8% |
| Plant, machinery and equipment | 23 | €19,765 | €10,124 | -€9,640 | -48.8% |
| Leasing and similar rights | 25 | €69,242 | €56,733 | -€12,509 | -18.1% |
| Financial fixed assets | 28 | €25,055 | €25,178 | +€123 | +0.5% |
| Current assets | 29/58 | €132,648 | €159,734 | +€27,085 | +20.4% |
| Amounts receivable within one year | 40/41 | €556 | €501 | -€55 | -9.9% |
| Trade receivables | 40 | €76 | €21 | -€55 | -72.4% |
| Other amounts receivable | 41 | €480 | €480 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €119,757 | €145,118 | +€25,361 | +21.2% |
| Deferred charges and accrued income | 490/1 | €12,335 | €14,115 | +€1,779 | +14.4% |
| Total equity and liabilities | 10/49 | €5,459,630 | €5,267,150 | -€192,481 | -3.5% |
| Equity | 10/15 | €2,022,085 | €1,939,285 | -€82,800 | -4.1% |
| Contributions | 10/11 | €2,553,600 | €2,553,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€531,515 | -€614,315 | -€82,800 | -15.6% |
| Amounts payable | 17/49 | €3,437,545 | €3,327,864 | -€109,681 | -3.2% |
| Amounts payable after more than one year | 17 | €3,244,035 | €3,081,184 | -€162,852 | -5.0% |
| Financial debts | 170/4 | €2,643,543 | €2,480,692 | -€162,852 | -6.2% |
| Other amounts payable | 178/9 | €600,492 | €600,492 | = | 0.0% |
| Amounts payable within one year | 42/48 | €182,248 | €200,121 | +€17,873 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €171,405 | €175,220 | +€3,815 | +2.2% |
| Trade debts | 44 | €10,843 | €24,901 | +€14,058 | +130% |
| Suppliers | 440/4 | €10,843 | €24,901 | +€14,058 | +130% |
| Accrued charges and deferred income | 492/3 | €11,262 | €46,560 | +€35,298 | +313% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,339 | €273,724 | +€1,385 | +0.5% |
| Other operating charges | 640/8 | €72,776 | €82,915 | +€10,139 | +13.9% |
| Gross operating margin | 9900 | €373,174 | €337,518 | -€35,656 | -9.6% |
| Operating profit (loss) | 9901 | €28,059 | -€19,121 | -€47,180 | |
| Financial income | 75/76B | €79 | €400 | +€321 | +409% |
| Recurring financial income | 75 | €79 | €400 | +€321 | +409% |
| Financial charges | 65/66B | €67,548 | €63,959 | -€3,589 | -5.3% |
| Recurring financial charges | 65 | €67,548 | €63,959 | -€3,589 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,410 | -€82,680 | -€43,270 | -110% |
| Income taxes | 67/77 | €24 | €120 | +€96 | +409% |
| Profit (loss) for the period | 9904 | -€39,434 | -€82,800 | -€43,366 | -110% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,434 | -€82,800 | -€43,366 | -110% |
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 22 October 2026 via checked.be.