CLIMATE SOLUTIONS: what changed
Two fiscal 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.
CLIMATE SOLUTIONS
Largest movements
- Financial fixed assets +€271,286
up €271,286 (+57.4%), from €472,486 to €743,772
- Receivables within one year +€87,000
up €87,000 (+19.6%), from €442,974 to €529,974
of which Trade receivables: +€132,790
- Stocks and contracts -€64,795
down €64,795 (-72.5%), from €89,361 to €24,566
- Deferred charges and accrued income -€35,281
down €35,281 (-76.3%), from €46,252 to €10,972
- Cash -€17,098
down €17,098 (-41.5%), from €41,186 to €24,088
mainly Investment in fixed assets (net) (-€271,286) and Receivables within one year (-€87,000)
- Reserves +€64,832
up €64,832 (+14.6%), from €445,144 to €509,976
of which Distributable reserves: +€64,832
- Tax, wage and social debts +€55,407
up €55,407 (+211.4%), from €26,208 to €81,615
of which Taxes: +€51,648
- Other debts +€47,944
up €47,944 (+121.5%), from €39,476 to €87,420
- Provisions +€43,627
new in 2025: €43,627
- Trade debts +€35,569
up €35,569 (+30.3%), from €117,504 to €153,073
- Gross operating margin +€240,815
up €240,815 (+79.4%), from €303,452 to €544,267
- Other operating charges +€75,984
up €75,984 (+7355.0%), from €1,033 to €77,017
- Taxes +€72,678
up €72,678 (+672.7%), from €10,804 to €83,481
- Financial charges +€36,745
up €36,745 (+240.2%), from €15,298 to €52,043
of which Non-recurring financial charges: +€44,000
- Staff costs +€19,173
up €19,173 (+8.2%), from €234,188 to €253,361
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 | €1,171,032 | €1,398,004 | +€226,972 | +19.4% |
| Fixed assets | 21/28 | €551,164 | €808,309 | +€257,146 | +46.7% |
| Intangible fixed assets | 21 | €13,760 | €13,760 | = | 0.0% |
| Tangible fixed assets | 22/27 | €64,918 | €50,777 | -€14,140 | -21.8% |
| Plant, machinery and equipment | 23 | €7,033 | €7,033 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €57,885 | €43,744 | -€14,140 | -24.4% |
| Financial fixed assets | 28 | €472,486 | €743,772 | +€271,286 | +57.4% |
| Current assets | 29/58 | €619,869 | €589,695 | -€30,174 | -4.9% |
| Stocks and contracts in progress | 3 | €89,361 | €24,566 | -€64,795 | -72.5% |
| Stocks | 30/36 | €89,361 | €24,566 | -€64,795 | -72.5% |
| Amounts receivable within one year | 40/41 | €442,974 | €529,974 | +€87,000 | +19.6% |
| Trade receivables | 40 | €325,016 | €457,806 | +€132,790 | +40.9% |
| Other amounts receivable | 41 | €117,957 | €72,167 | -€45,790 | -38.8% |
| Current investments | 50/53 | €96 | €96 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,186 | €24,088 | -€17,098 | -41.5% |
| Deferred charges and accrued income | 490/1 | €46,252 | €10,972 | -€35,281 | -76.3% |
| Total equity and liabilities | 10/49 | €1,171,032 | €1,398,004 | +€226,972 | +19.4% |
| Equity | 10/15 | €890,144 | €954,976 | +€64,832 | +7.3% |
| Contributions | 10/11 | €445,000 | €445,000 | = | 0.0% |
| Capital | 10 | €445,000 | €445,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Uncalled capital | 101 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €445,144 | €509,976 | +€64,832 | +14.6% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €395,144 | €459,976 | +€64,832 | +16.4% |
| Provisions and deferred taxes | 16 | - | €43,627 | +€43,627 | |
| Provisions for liabilities and charges | 160/5 | - | €43,627 | +€43,627 | |
| Taxes | 161 | - | €0 | = | |
| Environmental obligations | 163 | - | €43,627 | +€43,627 | |
| Amounts payable | 17/49 | €280,889 | €399,402 | +€118,513 | +42.2% |
| Amounts payable after more than one year | 17 | €97,702 | €77,294 | -€20,407 | -20.9% |
| Financial debts | 170/4 | €97,702 | €77,294 | -€20,407 | -20.9% |
| Amounts payable within one year | 42/48 | €183,187 | €322,107 | +€138,920 | +75.8% |
| Trade debts | 44 | €117,504 | €153,073 | +€35,569 | +30.3% |
| Suppliers | 440/4 | €117,504 | €153,073 | +€35,569 | +30.3% |
| Taxes, remuneration and social security | 45 | €26,208 | €81,615 | +€55,407 | +211.4% |
| Taxes | 450/3 | €15,358 | €67,007 | +€51,648 | +336.3% |
| Remuneration and social security | 454/9 | €10,849 | €14,608 | +€3,758 | +34.6% |
| Other amounts payable | 47/48 | €39,476 | €87,420 | +€47,944 | +121.5% |
| Non-recurring operating income | 76A | - | €97,001 | +€97,001 | |
| Remuneration, social security and pensions | 62 | €234,188 | €253,361 | +€19,173 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,408 | €14,140 | +€7,732 | +120.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €526 | - | -€526 | |
| Other operating charges | 640/8 | €1,033 | €77,017 | +€75,984 | +7355.0% |
| Non-recurring operating charges | 66A | €20,000 | - | -€20,000 | |
| Gross operating margin | 9900 | €303,452 | €544,267 | +€240,815 | +79.4% |
| Operating profit (loss) | 9901 | €41,297 | €199,749 | +€158,453 | +383.7% |
| Financial income | 75/76B | €3,845 | €607 | -€3,238 | -84.2% |
| Recurring financial income | 75 | €3,845 | €607 | -€3,238 | -84.2% |
| Financial charges | 65/66B | €15,298 | €52,043 | +€36,745 | +240.2% |
| Recurring financial charges | 65 | €15,298 | €8,043 | -€7,255 | -47.4% |
| Non-recurring financial charges | 66B | - | €44,000 | +€44,000 | |
| Profit (loss) for the period before taxes | 9903 | €29,843 | €148,313 | +€118,470 | +397.0% |
| Income taxes | 67/77 | €10,804 | €83,481 | +€72,678 | +672.7% |
| Profit (loss) for the period | 9904 | €19,040 | €64,832 | +€45,793 | +240.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,040 | €64,832 | +€45,793 | +240.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.