CO2 CHALLENGE: 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.
CO2 CHALLENGE
Largest movements
- Cash +€59,182
up €59,182 (+132.1%), from €44,785 to €103,967
mainly Current investments (+€50,405) and Other debts (+€28,316)
- Current investments -€50,405
down €50,405 (-71.6%), from €70,404 to €20,000
- Receivables within one year -€21,466
down €21,466 (-99.3%), from €21,609 to €143
of which Other amounts receivable: -€16,081
- Deferred charges and accrued income -€3,643
down €3,643 (-28.5%), from €12,777 to €9,133
- Tangible fixed assets -€1,983
down €1,983 (-18.6%), from €10,685 to €8,701
of which Furniture and vehicles: -€1,658
- Reserves -€46,757
down €46,757 (-35.8%), from €130,520 to €83,763
- Other debts +€28,316
up €28,316 (+205.9%), from €13,750 to €42,066
- Gross operating margin -€2,524
down €2,524 (-9.6%), from €26,244 to €23,720
- Depreciation -€679
down €679 (-16.9%), from €4,023 to €3,344
- Taxes +€612
up €612 (+7.8%), from €7,833 to €8,445
- Financial charges -€302
down €302 (-56.6%), from €533 to €231
- Financial income +€265
up €265 (+26.5%), from €1,001 to €1,266
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 | €160,260 | €141,944 | -€18,315 | -11.4% |
| Fixed assets | 21/28 | €10,685 | €8,701 | -€1,983 | -18.6% |
| Tangible fixed assets | 22/27 | €10,685 | €8,701 | -€1,983 | -18.6% |
| Furniture and vehicles | 24 | €8,720 | €7,062 | -€1,658 | -19.0% |
| Other tangible fixed assets | 26 | €1,965 | €1,639 | -€326 | -16.6% |
| Current assets | 29/58 | €149,575 | €133,243 | -€16,332 | -10.9% |
| Amounts receivable within one year | 40/41 | €21,609 | €143 | -€21,466 | -99.3% |
| Trade receivables | 40 | €5,525 | €140 | -€5,385 | -97.5% |
| Other amounts receivable | 41 | €16,084 | €3 | -€16,081 | -100.0% |
| Current investments | 50/53 | €70,404 | €20,000 | -€50,405 | -71.6% |
| Cash at bank and in hand | 54/58 | €44,785 | €103,967 | +€59,182 | +132.1% |
| Deferred charges and accrued income | 490/1 | €12,777 | €9,133 | -€3,643 | -28.5% |
| Total equity and liabilities | 10/49 | €160,260 | €141,944 | -€18,315 | -11.4% |
| Equity | 10/15 | €143,085 | €96,328 | -€46,757 | -32.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €130,520 | €83,763 | -€46,757 | -35.8% |
| Distributable reserves | 133 | €130,520 | €83,763 | -€46,757 | -35.8% |
| Profit (loss) carried forward | 14 | €165 | €165 | = | 0.0% |
| Amounts payable | 17/49 | €17,175 | €45,617 | +€28,442 | +165.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €16,604 | €45,617 | +€29,012 | +174.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,856 | €1,567 | -€290 | -15.6% |
| Suppliers | 440/4 | €1,856 | €1,567 | -€290 | -15.6% |
| Taxes, remuneration and social security | 45 | €998 | €1,984 | +€986 | +98.8% |
| Taxes | 450/3 | €998 | €1,984 | +€986 | +98.8% |
| Other amounts payable | 47/48 | €13,750 | €42,066 | +€28,316 | +205.9% |
| Accrued charges and deferred income | 492/3 | €570 | - | -€570 | |
| Non-recurring operating income | 76A | €7,442 | - | -€7,442 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,023 | €3,344 | -€679 | -16.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €787 | +€787 | |
| Gross operating margin | 9900 | €26,244 | €23,720 | -€2,524 | -9.6% |
| Operating profit (loss) | 9901 | €21,834 | €19,190 | -€2,644 | -12.1% |
| Financial income | 75/76B | €1,001 | €1,266 | +€265 | +26.5% |
| Recurring financial income | 75 | €1,001 | €1,266 | +€265 | +26.5% |
| Financial charges | 65/66B | €533 | €231 | -€302 | -56.6% |
| Recurring financial charges | 65 | €533 | €231 | -€302 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €22,301 | €20,224 | -€2,077 | -9.3% |
| Income taxes | 67/77 | €7,833 | €8,445 | +€612 | +7.8% |
| Profit (loss) for the period | 9904 | €14,468 | €11,779 | -€2,689 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,468 | €11,779 | -€2,689 | -18.6% |
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 8 October 2026 via checked.be.