GREET MAES: 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.
GREET MAES
Largest movements
- Cash +€266,562
up €266,562 (+229%), from €116,463 to €383,025
mainly Net result for the year (+€305,569) and Other debts (+€241,769)
- Receivables after one year -€169,843
down €169,843 (-100%), from €169,843 to €0
- Receivables within one year -€50,389
down €50,389 (-30.5%), from €165,359 to €114,970
of which Other amounts receivable: -€61,101
- Other debts +€241,769
up €241,769 (+102%), from €236,410 to €478,179
- Reserves -€172,610
down €172,610 (-12.4%), from €1.4m to €1.2m
of which Tax-exempt reserves: -€172,610
- Debts after one year -€45,853
down €45,853 (-10.6%), from €434,423 to €388,569
- Financial income +€196,487
up €196,487 (+1,232%), from €15,952 to €212,438
- Financial charges -€5,262
down €5,262 (-6.3%), from €83,081 to €77,819
- Taxes -€5,093
down €5,093 (-13.5%), from €37,805 to €32,712
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 | €3,241,005 | €3,256,090 | +€15,085 | +0.5% |
| Fixed assets | 21/28 | €2,786,173 | €2,758,096 | -€28,078 | -1.0% |
| Tangible fixed assets | 22/27 | €1,421,441 | €1,393,364 | -€28,078 | -2.0% |
| Land and buildings | 22 | €843,238 | €815,161 | -€28,078 | -3.3% |
| Other tangible fixed assets | 26 | €578,203 | €578,203 | = | 0.0% |
| Financial fixed assets | 28 | €1,364,732 | €1,364,732 | = | 0.0% |
| Current assets | 29/58 | €454,832 | €497,995 | +€43,163 | +9.5% |
| Amounts receivable after more than one year | 29 | €169,843 | €0 | -€169,843 | -100% |
| Other amounts receivable | 291 | €169,843 | €0 | -€169,843 | -100% |
| Amounts receivable within one year | 40/41 | €165,359 | €114,970 | -€50,389 | -30.5% |
| Trade receivables | 40 | €44,552 | €55,264 | +€10,712 | +24.0% |
| Other amounts receivable | 41 | €120,807 | €59,706 | -€61,101 | -50.6% |
| Cash at bank and in hand | 54/58 | €116,463 | €383,025 | +€266,562 | +229% |
| Deferred charges and accrued income | 490/1 | €3,168 | €0 | -€3,168 | -100% |
| Total equity and liabilities | 10/49 | €3,241,005 | €3,256,090 | +€15,085 | +0.5% |
| Equity | 10/15 | €2,299,957 | €2,127,347 | -€172,610 | -7.5% |
| Contributions | 10/11 | €248,100 | €248,100 | = | 0.0% |
| Revaluation surpluses | 12 | €254,220 | €254,220 | = | 0.0% |
| Reserves | 13 | €1,397,420 | €1,224,810 | -€172,610 | -12.4% |
| Non-distributable reserves | 130/1 | €24,810 | €24,810 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,810 | €24,810 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,610 | €0 | -€172,610 | -100% |
| Distributable reserves | 133 | €1,200,000 | €1,200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €400,217 | €400,217 | = | 0.0% |
| Provisions and deferred taxes | 16 | €181,484 | €181,484 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €181,484 | €181,484 | = | 0.0% |
| Pensions and similar obligations | 160 | €181,484 | €181,484 | = | 0.0% |
| Amounts payable | 17/49 | €759,564 | €947,259 | +€187,695 | +24.7% |
| Amounts payable after more than one year | 17 | €434,423 | €388,569 | -€45,853 | -10.6% |
| Financial debts | 170/4 | €434,423 | €388,569 | -€45,853 | -10.6% |
| Amounts payable within one year | 42/48 | €325,027 | €558,574 | +€233,547 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €45,049 | €45,850 | +€801 | +1.8% |
| Trade debts | 44 | €19,517 | €3,610 | -€15,907 | -81.5% |
| Suppliers | 440/4 | €19,517 | €3,610 | -€15,907 | -81.5% |
| Taxes, remuneration and social security | 45 | €24,051 | €30,935 | +€6,884 | +28.6% |
| Taxes | 450/3 | €24,051 | €30,935 | +€6,884 | +28.6% |
| Other amounts payable | 47/48 | €236,410 | €478,179 | +€241,769 | +102% |
| Accrued charges and deferred income | 492/3 | €114 | €115 | +€1 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,152 | €28,078 | +€926 | +3.4% |
| Other operating charges | 640/8 | €8,296 | €7,864 | -€432 | -5.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €237,861 | €239,603 | +€1,742 | +0.7% |
| Operating profit (loss) | 9901 | €202,414 | €203,662 | +€1,248 | +0.6% |
| Financial income | 75/76B | €15,952 | €212,438 | +€196,487 | +1,232% |
| Recurring financial income | 75 | €15,952 | €212,438 | +€196,487 | +1,232% |
| Financial charges | 65/66B | €83,081 | €77,819 | -€5,262 | -6.3% |
| Recurring financial charges | 65 | €83,081 | €77,819 | -€5,262 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €135,285 | €338,281 | +€202,996 | +150% |
| Income taxes | 67/77 | €37,805 | €32,712 | -€5,093 | -13.5% |
| Profit (loss) for the period | 9904 | €97,480 | €305,569 | +€208,089 | +213% |
| Transfer from tax-exempt reserves | 789 | €138,930 | €172,610 | +€33,680 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €236,410 | €478,179 | +€241,769 | +102% |
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 1 November 2026 via checked.be.