CARBON MD: 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 MD
Largest movements
- Deferred charges and accrued income +€191,544
up €191,544 (+7,464%), from €2,566 to €194,110
- Receivables within one year -€170,622
down €170,622 (-77.3%), from €220,613 to €49,992
of which Other amounts receivable: -€163,478
- Cash -€30,936
down €30,936 (-76.9%), from €40,239 to €9,304
mainly Contributions, distributions and other (-€227,289) and Deferred charges and accrued income (-€191,544)
- Tangible fixed assets +€8,014
up €8,014 (+22.4%), from €35,722 to €43,737
of which Plant, machinery and equipment: +€5,949
- Current investments -€7,465
down €7,465 (-45.3%), from €16,465 to €9,000
- Reserves -€35,849
down €35,849 (-15.2%), from €236,289 to €200,440
- Other debts +€32,251
up €32,251 (+57.3%), from €56,327 to €88,578
- Tax, wage and social debts -€7,247
down €7,247 (-50.2%), from €14,431 to €7,184
of which Taxes: -€8,046
- Gross operating margin -€32,168
down €32,168 (-10.5%), from €306,821 to €274,653
- Taxes -€7,561
down €7,561 (-10.8%), from €70,001 to €62,441
- Financial income -€3,518
down €3,518 (-64.3%), from €5,467 to €1,949
- Depreciation +€3,322
up €3,322 (+126%), from €2,638 to €5,960
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 | €318,273 | €308,808 | -€9,464 | -3.0% |
| Fixed assets | 21/28 | €38,389 | €46,403 | +€8,014 | +20.9% |
| Tangible fixed assets | 22/27 | €35,722 | €43,737 | +€8,014 | +22.4% |
| Plant, machinery and equipment | 23 | €2,652 | €8,601 | +€5,949 | +224% |
| Furniture and vehicles | 24 | - | €5,609 | +€5,609 | |
| Other tangible fixed assets | 26 | €33,070 | €29,526 | -€3,544 | -10.7% |
| Financial fixed assets | 28 | €2,667 | €2,667 | = | 0.0% |
| Current assets | 29/58 | €279,884 | €262,405 | -€17,479 | -6.2% |
| Amounts receivable within one year | 40/41 | €220,613 | €49,992 | -€170,622 | -77.3% |
| Trade receivables | 40 | €57,136 | €49,992 | -€7,144 | -12.5% |
| Other amounts receivable | 41 | €163,478 | - | -€163,478 | |
| Current investments | 50/53 | €16,465 | €9,000 | -€7,465 | -45.3% |
| Cash at bank and in hand | 54/58 | €40,239 | €9,304 | -€30,936 | -76.9% |
| Deferred charges and accrued income | 490/1 | €2,566 | €194,110 | +€191,544 | +7,464% |
| Total equity and liabilities | 10/49 | €318,273 | €308,808 | -€9,464 | -3.0% |
| Equity | 10/15 | €241,289 | €205,440 | -€35,849 | -14.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €236,289 | €200,440 | -€35,849 | -15.2% |
| Distributable reserves | 133 | €236,289 | €200,440 | -€35,849 | -15.2% |
| Amounts payable | 17/49 | €76,984 | €103,368 | +€26,384 | +34.3% |
| Amounts payable within one year | 42/48 | €73,395 | €99,467 | +€26,071 | +35.5% |
| Trade debts | 44 | €2,637 | €3,705 | +€1,067 | +40.5% |
| Suppliers | 440/4 | €2,637 | €3,705 | +€1,067 | +40.5% |
| Taxes, remuneration and social security | 45 | €14,431 | €7,184 | -€7,247 | -50.2% |
| Taxes | 450/3 | €11,554 | €3,508 | -€8,046 | -69.6% |
| Remuneration and social security | 454/9 | €2,877 | €3,676 | +€799 | +27.8% |
| Other amounts payable | 47/48 | €56,327 | €88,578 | +€32,251 | +57.3% |
| Accrued charges and deferred income | 492/3 | €3,588 | €3,901 | +€313 | +8.7% |
| Remuneration, social security and pensions | 62 | €5,703 | €8,699 | +€2,996 | +52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,638 | €5,960 | +€3,322 | +126% |
| Other operating charges | 640/8 | €352 | €552 | +€200 | +56.9% |
| Gross operating margin | 9900 | €306,821 | €274,653 | -€32,168 | -10.5% |
| Operating profit (loss) | 9901 | €298,127 | €259,442 | -€38,685 | -13.0% |
| Financial income | 75/76B | €5,467 | €1,949 | -€3,518 | -64.3% |
| Recurring financial income | 75 | €5,467 | €1,949 | -€3,518 | -64.3% |
| Financial charges | 65/66B | €6,304 | €7,511 | +€1,206 | +19.1% |
| Recurring financial charges | 65 | €6,304 | €7,511 | +€1,206 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €297,290 | €253,881 | -€43,409 | -14.6% |
| Income taxes | 67/77 | €70,001 | €62,441 | -€7,561 | -10.8% |
| Profit (loss) for the period | 9904 | €227,289 | €191,440 | -€35,849 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €227,289 | €191,440 | -€35,849 | -15.8% |
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.