Greyhat Solutions: 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.
Greyhat Solutions
Largest movements
- Tangible fixed assets +€49,535
up €49,535 (+717.6%), from €6,903 to €56,438
of which Furniture and vehicles: +€49,877
- Cash -€15,218
down €15,218 (-26.4%), from €57,588 to €42,370
mainly Investment in fixed assets (net) (-€56,560) and Contributions, distributions and other (-€14,118)
- Receivables within one year -€4,584
down €4,584 (-13.8%), from €33,302 to €28,718
of which Trade receivables: -€3,055
- Deferred charges and accrued income +€1,600
up €1,600, from €0 to €1,600
- Debts after one year +€29,955
new in 2025: €29,955
- Current portion of long-term debt +€7,574
new in 2025: €7,574
- Trade debts -€6,969
down €6,969 (-89.5%), from €7,788 to €819
- Tax, wage and social debts +€5,472
up €5,472 (+295.0%), from €1,855 to €7,328
of which Taxes: +€3,423
- Profit (loss) carried forward -€2,875
down €2,875 (-3.5%), from €82,259 to €79,384
- Gross operating margin +€10,305
up €10,305 (+74.1%), from €13,903 to €24,207
- Depreciation +€3,303
up €3,303 (+88.7%), from €3,722 to €7,026
- Taxes +€1,187
up €1,187 (+40.9%), from €2,900 to €4,087
- Financial income -€876
down €876 (-97.0%), from €903 to €27
- Financial charges +€591
up €591 (+264.9%), from €223 to €813
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.
Cash bridge derived
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 | €97,792 | €129,125 | +€31,332 | +32.0% |
| Fixed assets | 21/28 | €6,903 | €56,438 | +€49,535 | +717.6% |
| Tangible fixed assets | 22/27 | €6,903 | €56,438 | +€49,535 | +717.6% |
| Plant, machinery and equipment | 23 | €756 | €413 | -€343 | -45.3% |
| Furniture and vehicles | 24 | €6,147 | €56,024 | +€49,877 | +811.5% |
| Current assets | 29/58 | €90,889 | €72,687 | -€18,202 | -20.0% |
| Amounts receivable within one year | 40/41 | €33,302 | €28,718 | -€4,584 | -13.8% |
| Trade receivables | 40 | €30,795 | €27,740 | -€3,055 | -9.9% |
| Other amounts receivable | 41 | €2,506 | €977 | -€1,529 | -61.0% |
| Cash at bank and in hand | 54/58 | €57,588 | €42,370 | -€15,218 | -26.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,600 | +€1,600 | |
| Total equity and liabilities | 10/49 | €97,792 | €129,125 | +€31,332 | +32.0% |
| Equity | 10/15 | €84,759 | €81,884 | -€2,875 | -3.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,259 | €79,384 | -€2,875 | -3.5% |
| Amounts payable | 17/49 | €13,033 | €47,241 | +€34,207 | +262.5% |
| Amounts payable after more than one year | 17 | - | €29,955 | +€29,955 | |
| Financial debts | 170/4 | - | €29,955 | +€29,955 | |
| Amounts payable within one year | 42/48 | €12,319 | €17,286 | +€4,967 | +40.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,574 | +€7,574 | |
| Financial debts | 43 | €712 | €330 | -€382 | -53.6% |
| Credit institutions | 430/8 | €712 | €330 | -€382 | -53.6% |
| Trade debts | 44 | €7,788 | €819 | -€6,969 | -89.5% |
| Suppliers | 440/4 | €7,788 | €819 | -€6,969 | -89.5% |
| Taxes, remuneration and social security | 45 | €1,855 | €7,328 | +€5,472 | +295.0% |
| Taxes | 450/3 | €1,855 | €5,278 | +€3,423 | +184.5% |
| Remuneration and social security | 454/9 | - | €2,050 | +€2,050 | |
| Other amounts payable | 47/48 | €1,964 | €1,235 | -€729 | -37.1% |
| Accrued charges and deferred income | 492/3 | €715 | €0 | -€715 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,722 | €7,026 | +€3,303 | +88.7% |
| Other operating charges | 640/8 | €669 | €1,065 | +€396 | +59.2% |
| Gross operating margin | 9900 | €13,903 | €24,207 | +€10,305 | +74.1% |
| Operating profit (loss) | 9901 | €9,511 | €16,116 | +€6,605 | +69.4% |
| Financial income | 75/76B | €903 | €27 | -€876 | -97.0% |
| Recurring financial income | 75 | €903 | €27 | -€876 | -97.0% |
| Financial charges | 65/66B | €223 | €813 | +€591 | +264.9% |
| Recurring financial charges | 65 | €223 | €813 | +€591 | +264.9% |
| Profit (loss) for the period before taxes | 9903 | €10,191 | €15,329 | +€5,138 | +50.4% |
| Income taxes | 67/77 | €2,900 | €4,087 | +€1,187 | +40.9% |
| Profit (loss) for the period | 9904 | €7,291 | €11,242 | +€3,951 | +54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,291 | €11,242 | +€3,951 | +54.2% |
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 12 October 2026 via checked.be.