Carboganic: 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.
Carboganic
Largest movements
- Tangible fixed assets +€249,791
up €249,791 (+626%), from €39,927 to €289,717
- Cash -€82,581
down €82,581 (-10.5%), from €787,888 to €705,307
mainly Net result for the year (-€775,587) and Investment in fixed assets (net) (-€305,392)
- Stocks and contracts +€12,945
up €12,945 (+468%), from €2,765 to €15,710
- Profit (loss) carried forward -€775,587
down €775,587 (-64.6%), from -€1.2m to -€2.0m
- Contributions +€750,000
up €750,000 (+37.5%), from €2.0m to €2.8m
- Trade debts +€94,066
up €94,066 (+79.1%), from €118,900 to €212,966
- Debts after one year +€93,799
new in 2025: €93,799
- Current portion of long-term debt +€28,601
new in 2025: €28,601
- Gross operating margin -€49,964
down €49,964 (-7.7%), from -€651,940 to -€701,903
- Depreciation +€21,325
up €21,325 (+88.1%), from €24,218 to €45,543
- Staff costs +€19,987
up €19,987 (+7,337%), from €272 to €20,260
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 | €922,622 | €1,115,662 | +€193,041 | +20.9% |
| Fixed assets | 21/28 | €91,697 | €351,545 | +€259,849 | +283% |
| Intangible fixed assets | 21 | €46,760 | €56,818 | +€10,058 | +21.5% |
| Tangible fixed assets | 22/27 | €39,927 | €289,717 | +€249,791 | +626% |
| Plant, machinery and equipment | 23 | €39,927 | €289,717 | +€249,791 | +626% |
| Financial fixed assets | 28 | €5,010 | €5,010 | = | 0.0% |
| Current assets | 29/58 | €830,925 | €764,117 | -€66,808 | -8.0% |
| Stocks and contracts in progress | 3 | €2,765 | €15,710 | +€12,945 | +468% |
| Stocks | 30/36 | €2,765 | €15,710 | +€12,945 | +468% |
| Amounts receivable within one year | 40/41 | €40,272 | €39,046 | -€1,227 | -3.0% |
| Trade receivables | 40 | - | €1,936 | +€1,936 | |
| Other amounts receivable | 41 | €40,272 | €37,110 | -€3,163 | -7.9% |
| Cash at bank and in hand | 54/58 | €787,888 | €705,307 | -€82,581 | -10.5% |
| Deferred charges and accrued income | 490/1 | €0 | €4,055 | +€4,055 | |
| Total equity and liabilities | 10/49 | €922,622 | €1,115,662 | +€193,041 | +20.9% |
| Equity | 10/15 | €800,417 | €774,829 | -€25,587 | -3.2% |
| Contributions | 10/11 | €2,001,503 | €2,751,503 | +€750,000 | +37.5% |
| Profit (loss) carried forward | 14 | -€1,201,086 | -€1,976,673 | -€775,587 | -64.6% |
| Amounts payable | 17/49 | €122,205 | €340,833 | +€218,628 | +179% |
| Amounts payable after more than one year | 17 | - | €93,799 | +€93,799 | |
| Financial debts | 170/4 | - | €93,799 | +€93,799 | |
| Amounts payable within one year | 42/48 | €122,205 | €247,034 | +€124,829 | +102% |
| Current portion of amounts payable after more than one year | 42 | - | €28,601 | +€28,601 | |
| Financial debts | 43 | - | €823 | +€823 | |
| Credit institutions | 430/8 | - | €823 | +€823 | |
| Trade debts | 44 | €118,900 | €212,966 | +€94,066 | +79.1% |
| Suppliers | 440/4 | €118,900 | €212,966 | +€94,066 | +79.1% |
| Taxes, remuneration and social security | 45 | €629 | €4,564 | +€3,935 | +625% |
| Taxes | 450/3 | €629 | €1,037 | +€408 | +64.8% |
| Remuneration and social security | 454/9 | - | €3,527 | +€3,527 | |
| Other amounts payable | 47/48 | €2,676 | €80 | -€2,596 | -97.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €272 | €20,260 | +€19,987 | +7,337% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,218 | €45,543 | +€21,325 | +88.1% |
| Other operating charges | 640/8 | €1,016 | €1,230 | +€214 | +21.1% |
| Gross operating margin | 9900 | -€651,940 | -€701,903 | -€49,964 | -7.7% |
| Operating profit (loss) | 9901 | -€677,447 | -€768,937 | -€91,491 | -13.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €273 | €6,650 | +€6,377 | +2,337% |
| Recurring financial charges | 65 | €273 | €6,650 | +€6,377 | +2,337% |
| Profit (loss) for the period before taxes | 9903 | -€677,720 | -€775,587 | -€97,867 | -14.4% |
| Profit (loss) for the period | 9904 | -€677,720 | -€775,587 | -€97,867 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€677,720 | -€775,587 | -€97,867 | -14.4% |
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 23 October 2026 via checked.be.