Greenson: 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.
Greenson
Largest movements
- Cash -€87,598
down €87,598 (-25.5%), from €343,454 to €255,856
mainly Investment in fixed assets (net) (-€95,201) and Tax, wage and social debts (-€39,568)
- Tangible fixed assets +€46,621
up €46,621 (+12.0%), from €389,277 to €435,898
of which Land and buildings: +€49,789
- Stocks and contracts -€20,936
down €20,936 (-34.4%), from €60,920 to €39,984
- Current investments -€12,521
no longer reported in 2025 (was €12,521)
- Tax, wage and social debts -€39,568
down €39,568 (-90.7%), from €43,627 to €4,059
of which Taxes: -€39,334
- Reserves -€37,181
down €37,181 (-7.6%), from €488,976 to €451,795
- Profit (loss) carried forward +€17,816
up €17,816 (+10.2%), from €174,470 to €192,286
- Debts after one year -€14,525
down €14,525 (-10.3%), from €140,391 to €125,866
- Gross operating margin -€184,041
down €184,041 (-70.3%), from €261,706 to €77,665
- Staff costs -€62,100
down €62,100 (-65.2%), from €95,316 to €33,216
- Taxes -€37,379
down €37,379 (-88.1%), from €42,440 to €5,061
- Financial income +€32,251
up €32,251 (+1,143%), from €2,821 to €35,072
- Depreciation +€19,596
up €19,596 (+67.2%), from €29,169 to €48,765
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 | €873,859 | €799,416 | -€74,443 | -8.5% |
| Fixed assets | 21/28 | €389,512 | €435,948 | +€46,436 | +11.9% |
| Tangible fixed assets | 22/27 | €389,277 | €435,898 | +€46,621 | +12.0% |
| Land and buildings | 22 | €340,413 | €390,202 | +€49,789 | +14.6% |
| Plant, machinery and equipment | 23 | €1,596 | €17,228 | +€15,632 | +979% |
| Furniture and vehicles | 24 | €47,268 | €28,468 | -€18,800 | -39.8% |
| Financial fixed assets | 28 | €235 | €50 | -€185 | -78.7% |
| Current assets | 29/58 | €484,347 | €363,468 | -€120,879 | -25.0% |
| Stocks and contracts in progress | 3 | €60,920 | €39,984 | -€20,936 | -34.4% |
| Stocks | 30/36 | €60,920 | €39,984 | -€20,936 | -34.4% |
| Amounts receivable within one year | 40/41 | €67,452 | €67,628 | +€176 | +0.3% |
| Trade receivables | 40 | €30,528 | €34,860 | +€4,332 | +14.2% |
| Other amounts receivable | 41 | €36,924 | €32,768 | -€4,156 | -11.3% |
| Current investments | 50/53 | €12,521 | - | -€12,521 | |
| Cash at bank and in hand | 54/58 | €343,454 | €255,856 | -€87,598 | -25.5% |
| Total equity and liabilities | 10/49 | €873,859 | €799,416 | -€74,443 | -8.5% |
| Equity | 10/15 | €663,446 | €644,081 | -€19,365 | -2.9% |
| Reserves | 13 | €488,976 | €451,795 | -€37,181 | -7.6% |
| Distributable reserves | 133 | €488,976 | €451,795 | -€37,181 | -7.6% |
| Profit (loss) carried forward | 14 | €174,470 | €192,286 | +€17,816 | +10.2% |
| Amounts payable | 17/49 | €210,413 | €155,335 | -€55,078 | -26.2% |
| Amounts payable after more than one year | 17 | €140,391 | €125,866 | -€14,525 | -10.3% |
| Financial debts | 170/4 | €140,391 | €125,866 | -€14,525 | -10.3% |
| Amounts payable within one year | 42/48 | €70,022 | €29,469 | -€40,553 | -57.9% |
| Current portion of amounts payable after more than one year | 42 | €15,318 | €14,927 | -€391 | -2.6% |
| Trade debts | 44 | €11,077 | €10,483 | -€594 | -5.4% |
| Suppliers | 440/4 | €11,077 | €10,483 | -€594 | -5.4% |
| Taxes, remuneration and social security | 45 | €43,627 | €4,059 | -€39,568 | -90.7% |
| Taxes | 450/3 | €43,191 | €3,857 | -€39,334 | -91.1% |
| Remuneration and social security | 454/9 | €436 | €202 | -€234 | -53.7% |
| Non-recurring operating income | 76A | €2,702 | - | -€2,702 | |
| Remuneration, social security and pensions | 62 | €95,316 | €33,216 | -€62,100 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,169 | €48,765 | +€19,596 | +67.2% |
| Other operating charges | 640/8 | €3,227 | €4,752 | +€1,525 | +47.3% |
| Gross operating margin | 9900 | €261,706 | €77,665 | -€184,041 | -70.3% |
| Operating profit (loss) | 9901 | €133,994 | -€9,068 | -€143,062 | |
| Financial income | 75/76B | €2,821 | €35,072 | +€32,251 | +1,143% |
| Recurring financial income | 75 | €2,821 | €35,072 | +€32,251 | +1,143% |
| Financial charges | 65/66B | €2,166 | €3,127 | +€961 | +44.4% |
| Recurring financial charges | 65 | €2,166 | €3,127 | +€961 | +44.4% |
| Profit (loss) for the period before taxes | 9903 | €134,649 | €22,877 | -€111,772 | -83.0% |
| Income taxes | 67/77 | €42,440 | €5,061 | -€37,379 | -88.1% |
| Profit (loss) for the period | 9904 | €92,209 | €17,816 | -€74,393 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €92,209 | €17,816 | -€74,393 | -80.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.