Carbon+Alt+Delete: 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.
Carbon+Alt+Delete
Largest movements
- Intangible fixed assets +€510,990
up €510,990 (+54.1%), from €943,907 to €1.5m
- Current investments +€150,000
new in 2025: €150,000
- Cash -€116,986
down €116,986 (-28.8%), from €406,679 to €289,693
mainly Investment in fixed assets (net) (-€894,768) and Current investments (-€150,000)
- Receivables within one year +€97,543
up €97,543 (+153%), from €63,546 to €161,089
of which Trade receivables: +€69,607
- Deferred charges and accrued income +€31,720
up €31,720 (+128%), from €24,771 to €56,492
- Debts after one year +€263,974
up €263,974 (+74.5%), from €354,093 to €618,067
- Reserves +€174,944
up €174,944 (+76.0%), from €230,120 to €405,064
- Current portion of long-term debt +€139,488
up €139,488 (+200%), from €69,907 to €209,395
- Accrued charges and deferred income +€62,792
up €62,792 (+80.6%), from €77,938 to €140,730
- Tax, wage and social debts +€25,832
up €25,832 (+66.7%), from €38,722 to €64,555
of which Remuneration and social security: +€24,165
- Gross operating margin +€406,675
up €406,675 (+49.1%), from €828,090 to €1.2m
- Staff costs +€312,713
up €312,713 (+93.8%), from €333,220 to €645,933
- Depreciation +€146,462
up €146,462 (+64.2%), from €228,120 to €374,582
- Financial charges +€20,436
up €20,436 (+111%), from €18,365 to €38,801
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 | €1,442,298 | €2,124,761 | +€682,463 | +47.3% |
| Fixed assets | 21/28 | €947,301 | €1,467,487 | +€520,186 | +54.9% |
| Intangible fixed assets | 21 | €943,907 | €1,454,896 | +€510,990 | +54.1% |
| Tangible fixed assets | 22/27 | €2,764 | €8,210 | +€5,446 | +197% |
| Plant, machinery and equipment | 23 | €2,764 | €8,210 | +€5,446 | +197% |
| Financial fixed assets | 28 | €630 | €4,380 | +€3,750 | +595% |
| Current assets | 29/58 | €494,997 | €657,274 | +€162,278 | +32.8% |
| Amounts receivable within one year | 40/41 | €63,546 | €161,089 | +€97,543 | +153% |
| Trade receivables | 40 | €32,220 | €101,827 | +€69,607 | +216% |
| Other amounts receivable | 41 | €31,326 | €59,263 | +€27,936 | +89.2% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €406,679 | €289,693 | -€116,986 | -28.8% |
| Deferred charges and accrued income | 490/1 | €24,771 | €56,492 | +€31,720 | +128% |
| Total equity and liabilities | 10/49 | €1,442,298 | €2,124,761 | +€682,463 | +47.3% |
| Equity | 10/15 | €891,121 | €1,066,065 | +€174,944 | +19.6% |
| Contributions | 10/11 | €661,001 | €661,001 | = | 0.0% |
| Reserves | 13 | €230,120 | €405,064 | +€174,944 | +76.0% |
| Distributable reserves | 133 | €230,120 | €405,064 | +€174,944 | +76.0% |
| Amounts payable | 17/49 | €551,177 | €1,058,696 | +€507,519 | +92.1% |
| Amounts payable after more than one year | 17 | €354,093 | €618,067 | +€263,974 | +74.5% |
| Financial debts | 170/4 | €354,093 | €618,067 | +€263,974 | +74.5% |
| Amounts payable within one year | 42/48 | €119,146 | €299,898 | +€180,753 | +152% |
| Current portion of amounts payable after more than one year | 42 | €69,907 | €209,395 | +€139,488 | +200% |
| Trade debts | 44 | €10,516 | €25,948 | +€15,432 | +147% |
| Suppliers | 440/4 | €10,516 | €25,948 | +€15,432 | +147% |
| Taxes, remuneration and social security | 45 | €38,722 | €64,555 | +€25,832 | +66.7% |
| Taxes | 450/3 | - | €1,667 | +€1,667 | |
| Remuneration and social security | 454/9 | €38,722 | €62,887 | +€24,165 | +62.4% |
| Accrued charges and deferred income | 492/3 | €77,938 | €140,730 | +€62,792 | +80.6% |
| Remuneration, social security and pensions | 62 | €333,220 | €645,933 | +€312,713 | +93.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,120 | €374,582 | +€146,462 | +64.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,245 | +€10,245 | |
| Other operating charges | 640/8 | €683 | €2,824 | +€2,140 | +313% |
| Gross operating margin | 9900 | €828,090 | €1,234,765 | +€406,675 | +49.1% |
| Operating profit (loss) | 9901 | €266,066 | €201,181 | -€64,885 | -24.4% |
| Financial income | 75/76B | €6,010 | €4,948 | -€1,062 | -17.7% |
| Recurring financial income | 75 | €6,010 | €4,948 | -€1,062 | -17.7% |
| Financial charges | 65/66B | €18,365 | €38,801 | +€20,436 | +111% |
| Recurring financial charges | 65 | €18,365 | €38,801 | +€20,436 | +111% |
| Profit (loss) for the period before taxes | 9903 | €253,711 | €167,328 | -€86,383 | -34.0% |
| Income taxes | 67/77 | -€5,272 | -€7,617 | -€2,344 | -44.5% |
| Profit (loss) for the period | 9904 | €258,983 | €174,944 | -€84,039 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €258,983 | €174,944 | -€84,039 | -32.4% |
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 28 October 2026 via checked.be.