GREENSPEED: what changed
Two fiscal 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
GREENSPEED
NACE 46.442, Wholesale trade
fiscal year 2023 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€1.3m
2023 · €607,598+€660,987
Equity
€4.0m
2023 · €2.8m+€1.2m
Cash
€269,497
2023 · €926,828-€657,331
Balance sheet total
€5.2m
2023 · €4.7m+€527,676
Largest movements
Assets
- Receivables within one year +€1.4m
up €1.4m (+67.4%), from €2.1m to €3.6m
of which Other amounts receivable: +€1.4m
- Stocks and contracts -€880,386
down €880,386 (-62.5%), from €1.4m to €528,400
- Cash -€657,331
down €657,331 (-70.9%), from €926,828 to €269,497
- Receivables after one year +€400,000
new in 2025: €400,000
- Deferred charges and accrued income +€255,478
up €255,478 (+2588.5%), from €9,870 to €265,348
Equity and liabilities
- Profit (loss) carried forward +€1.2m
up €1.2m (+57.3%), from €2.2m to €3.4m
- Trade debts -€526,428
down €526,428 (-33.3%), from €1.6m to €1.1m
- Tax, wage and social debts -€175,138
down €175,138 (-59.6%), from €293,850 to €118,712
of which Taxes: -€153,404
Income statement
- Turnover +€1.3m
up €1.3m (+11.7%), from €10.8m to €12.0m
- Goods and materials +€1.0m
up €1.0m (+13.7%), from €7.6m to €8.6m
of which Change in stocks: decrease (increase): +€817,174
- Services and other goods -€127,902
down €127,902 (-6.2%), from €2.0m to €1.9m
From the 2023 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 2023
€607,598
Turnover
+€1.3m
Other operating income
+€17,368
Goods and materials
-€1.0m
Services and other goods
+€127,902
Staff costs
+€106,404
Depreciation
+€20,338
Write-downs
+€12,468
Other operating charges
+€219
Other operating items
+€277,531
Financial income
+€66,482
Financial charges
-€81,215
Taxes
-€114,434
Result 2025
€1.3m
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,671,650 | €5,199,326 | +€527,676 | +11.3% |
| Fixed assets | 21/28 | €178,551 | €141,983 | -€36,568 | -20.5% |
| Tangible fixed assets | 22/27 | €165,681 | €74,764 | -€90,917 | -54.9% |
| Plant, machinery and equipment | 23 | €59,851 | €50,685 | -€9,166 | -15.3% |
| Furniture and vehicles | 24 | €105,830 | €24,079 | -€81,751 | -77.2% |
| Financial fixed assets | 28 | €12,870 | €67,219 | +€54,349 | +422.3% |
| Other financial fixed assets | 284/8 | €12,870 | €67,219 | +€54,349 | +422.3% |
| Amounts receivable and cash guarantees | 285/8 | €12,870 | €67,219 | +€54,349 | +422.3% |
| Current assets | 29/58 | €4,493,099 | €5,057,343 | +€564,244 | +12.6% |
| Amounts receivable after more than one year | 29 | - | €400,000 | +€400,000 | |
| Other amounts receivable | 291 | - | €400,000 | +€400,000 | |
| Stocks and contracts in progress | 3 | €1,408,786 | €528,400 | -€880,386 | -62.5% |
| Stocks | 30/36 | €1,408,786 | €528,400 | -€880,386 | -62.5% |
| Goods purchased for resale | 34 | €1,141,416 | €453,728 | -€687,688 | -60.2% |
| Advance payments | 36 | €267,370 | €74,673 | -€192,697 | -72.1% |
| Amounts receivable within one year | 40/41 | €2,147,615 | €3,594,099 | +€1.4m | +67.4% |
| Trade receivables | 40 | €2,075,080 | €2,072,060 | -€3,020 | -0.1% |
| Other amounts receivable | 41 | €72,535 | €1,522,039 | +€1.4m | +1998.4% |
| Cash at bank and in hand | 54/58 | €926,828 | €269,497 | -€657,331 | -70.9% |
| Deferred charges and accrued income | 490/1 | €9,870 | €265,348 | +€255,478 | +2588.5% |
| Total equity and liabilities | 10/49 | €4,671,650 | €5,199,326 | +€527,676 | +11.3% |
| Equity | 10/15 | €2,779,728 | €4,019,466 | +€1.2m | +44.6% |
| Contributions | 10/11 | €87,605 | €87,605 | -€0 | 0.0% |
| Capital | 10 | €87,605 | €87,605 | -€0 | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | +€0 | 0.0% |
| Reserves | 13 | €528,031 | €528,031 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €518,031 | €518,031 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €2,164,092 | €3,403,830 | +€1.2m | +57.3% |
| Amounts payable | 17/49 | €1,891,922 | €1,179,860 | -€712,062 | -37.6% |
| Amounts payable within one year | 42/48 | €1,874,990 | €1,173,422 | -€701,568 | -37.4% |
| Trade debts | 44 | €1,581,139 | €1,054,711 | -€526,428 | -33.3% |
| Suppliers | 440/4 | €1,581,139 | €1,054,711 | -€526,428 | -33.3% |
| Taxes, remuneration and social security | 45 | €293,850 | €118,712 | -€175,138 | -59.6% |
| Taxes | 450/3 | €239,103 | €85,699 | -€153,404 | -64.2% |
| Remuneration and social security | 454/9 | €54,747 | €33,012 | -€21,735 | -39.7% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €16,933 | €6,438 | -€10,495 | -62.0% |
| Operating income | 70/76A | €10,947,615 | €12,502,375 | +€1.6m | +14.2% |
| Turnover | 70 | €10,782,147 | €12,046,075 | +€1.3m | +11.7% |
| Other operating income | 74 | €155,469 | €172,837 | +€17,368 | +11.2% |
| Non-recurring operating income | 76A | €10,000 | €283,463 | +€273,463 | +2734.7% |
| Operating charges | 60/66A | €10,065,128 | €10,829,734 | +€764,606 | +7.6% |
| Goods for resale, raw materials and consumables | 60 | €7,576,359 | €8,612,364 | +€1.0m | +13.7% |
| Purchases | 600/8 | €7,139,542 | €7,358,373 | +€218,831 | +3.1% |
| Change in stocks: decrease (increase) | 609 | €436,817 | €1,253,991 | +€817,174 | +187.1% |
| Services and other goods | 61 | €2,047,344 | €1,919,442 | -€127,902 | -6.2% |
| Remuneration, social security and pensions | 62 | €378,631 | €272,227 | -€106,404 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,313 | €22,975 | -€20,338 | -47.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,736 | -€9,732 | -€12,468 | |
| Other operating charges | 640/8 | €6,882 | €6,663 | -€219 | -3.2% |
| Non-recurring operating charges | 66A | €9,863 | €5,794 | -€4,069 | -41.3% |
| Operating profit (loss) | 9901 | €882,487 | €1,672,641 | +€790,154 | +89.5% |
| Financial income | 75/76B | €83,743 | €150,225 | +€66,482 | +79.4% |
| Recurring financial income | 75 | €83,743 | €150,225 | +€66,482 | +79.4% |
| Income from current assets | 751 | €0 | €43,948 | +€43,948 | |
| Other financial income | 752/9 | €83,743 | €106,278 | +€22,535 | +26.9% |
| Financial charges | 65/66B | €157,549 | €238,764 | +€81,215 | +51.5% |
| Recurring financial charges | 65 | €157,549 | €238,764 | +€81,215 | +51.5% |
| Debt charges | 650 | €24,747 | €18,040 | -€6,707 | -27.1% |
| Other financial charges | 652/9 | €132,802 | €220,724 | +€87,922 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | €808,682 | €1,584,102 | +€775,420 | +95.9% |
| Income taxes | 67/77 | €201,083 | €315,517 | +€114,434 | +56.9% |
| Taxes | 670/3 | €214,964 | €315,517 | +€100,553 | +46.8% |
| Tax adjustments and reversals of tax provisions | 77 | €13,881 | - | -€13,881 | |
| Profit (loss) for the period | 9904 | €607,598 | €1,268,585 | +€660,987 | +108.8% |
| Profit (loss) for the period to be appropriated | 9905 | €607,598 | €1,268,585 | +€660,987 | +108.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.