GREENOVATE: 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.
GREENOVATE
Largest movements
- Stocks and contracts +€240,882
up €240,882 (+33.3%), from €723,633 to €964,514
- Cash -€58,618
down €58,618 (-92.2%), from €63,577 to €4,958
mainly Stocks and contracts (-€240,882) and Debts after one year (-€35,331)
- Other debts +€188,176
up €188,176 (+17.5%), from €1.1m to €1.3m
- Debts after one year -€35,331
down €35,331 (-2.6%), from €1.3m to €1.3m
- Financial charges -€15,942
down €15,942 (-27.3%), from €58,345 to €42,402
- Depreciation -€10,558
down €10,558 (-18.3%), from €57,851 to €47,293
- Gross operating margin +€7,560
up €7,560 (+7.6%), from €99,011 to €106,571
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 | €2,521,204 | €2,678,583 | +€157,379 | +6.2% |
| Fixed assets | 21/28 | €1,729,075 | €1,704,828 | -€24,246 | -1.4% |
| Tangible fixed assets | 22/27 | €1,729,075 | €1,704,828 | -€24,246 | -1.4% |
| Land and buildings | 22 | €1,729,075 | €1,704,828 | -€24,246 | -1.4% |
| Current assets | 29/58 | €792,129 | €973,755 | +€181,626 | +22.9% |
| Stocks and contracts in progress | 3 | €723,633 | €964,514 | +€240,882 | +33.3% |
| Stocks | 30/36 | €723,633 | €964,514 | +€240,882 | +33.3% |
| Cash at bank and in hand | 54/58 | €63,577 | €4,958 | -€58,618 | -92.2% |
| Deferred charges and accrued income | 490/1 | €4,920 | €4,282 | -€638 | -13.0% |
| Total equity and liabilities | 10/49 | €2,521,204 | €2,678,583 | +€157,379 | +6.2% |
| Equity | 10/15 | €44,611 | €49,394 | +€4,783 | +10.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,389 | -€606 | +€4,783 | +88.8% |
| Amounts payable | 17/49 | €2,476,593 | €2,629,189 | +€152,596 | +6.2% |
| Amounts payable after more than one year | 17 | €1,339,093 | €1,303,761 | -€35,331 | -2.6% |
| Financial debts | 170/4 | €1,339,093 | €1,303,761 | -€35,331 | -2.6% |
| Amounts payable within one year | 42/48 | €1,117,733 | €1,319,295 | +€201,562 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €34,360 | €35,331 | +€971 | +2.8% |
| Trade debts | 44 | €9,458 | €21,874 | +€12,415 | +131% |
| Suppliers | 440/4 | €9,458 | €21,874 | +€12,415 | +131% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,073,914 | €1,262,089 | +€188,176 | +17.5% |
| Accrued charges and deferred income | 492/3 | €19,767 | €6,133 | -€13,634 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,851 | €47,293 | -€10,558 | -18.3% |
| Other operating charges | 640/8 | €11,103 | €12,093 | +€990 | +8.9% |
| Gross operating margin | 9900 | €99,011 | €106,571 | +€7,560 | +7.6% |
| Operating profit (loss) | 9901 | €30,057 | €47,185 | +€17,128 | +57.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €58,345 | €42,402 | -€15,942 | -27.3% |
| Recurring financial charges | 65 | €58,345 | €42,402 | -€15,942 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€28,287 | €4,783 | +€33,070 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€28,287 | €4,783 | +€33,070 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,287 | €4,783 | +€33,070 |
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 15 October 2026 via checked.be.