D-CARBONIZE: 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.
D-CARBONIZE
Largest movements
- Intangible fixed assets +€133,626
up €133,626 (+19.5%), from €684,818 to €818,444
- Receivables within one year -€91,126
down €91,126 (-30.2%), from €301,641 to €210,515
of which Trade receivables: -€55,567
- Cash +€34,232
up €34,232 (+28.2%), from €121,357 to €155,588
mainly Contributions, distributions and other (+€845,426) and Depreciation (+€220,468)
- Deferred charges and accrued income +€20,192
up €20,192 (+69.7%), from €28,968 to €49,160
- Profit (loss) carried forward +€861,473
up €861,473 (+82.7%), from -€1.0m to -€180,800
- Contributions -€783,343
down €783,343 (-53.7%), from €1.5m to €676,057
- Debts after one year -€16,667
down €16,667 (-10.5%), from €158,333 to €141,667
- Trade debts +€15,136
up €15,136 (+11.0%), from €137,847 to €152,983
of which Bills of exchange payable: +€24,650
- Staff costs +€108,087
up €108,087 (+13.8%), from €781,531 to €889,617
- Depreciation +€77,845
up €77,845 (+54.6%), from €142,623 to €220,468
- Gross operating margin -€31,258
down €31,258 (-7.7%), from €405,412 to €374,154
- Financial charges +€10,274
up €10,274 (+52.7%), from €19,503 to €29,778
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 | €1,147,533 | €1,238,918 | +€91,385 | +8.0% |
| Fixed assets | 21/28 | €695,567 | €823,655 | +€128,088 | +18.4% |
| Intangible fixed assets | 21 | €684,818 | €818,444 | +€133,626 | +19.5% |
| Tangible fixed assets | 22/27 | €8,799 | €3,578 | -€5,221 | -59.3% |
| Furniture and vehicles | 24 | €8,799 | €3,578 | -€5,221 | -59.3% |
| Financial fixed assets | 28 | €1,950 | €1,632 | -€318 | -16.3% |
| Current assets | 29/58 | €451,966 | €415,263 | -€36,703 | -8.1% |
| Amounts receivable within one year | 40/41 | €301,641 | €210,515 | -€91,126 | -30.2% |
| Trade receivables | 40 | €179,189 | €123,622 | -€55,567 | -31.0% |
| Other amounts receivable | 41 | €122,452 | €86,893 | -€35,558 | -29.0% |
| Cash at bank and in hand | 54/58 | €121,357 | €155,588 | +€34,232 | +28.2% |
| Deferred charges and accrued income | 490/1 | €28,968 | €49,160 | +€20,192 | +69.7% |
| Total equity and liabilities | 10/49 | €1,147,533 | €1,238,918 | +€91,385 | +8.0% |
| Equity | 10/15 | €417,127 | €495,257 | +€78,130 | +18.7% |
| Contributions | 10/11 | €1,459,400 | €676,057 | -€783,343 | -53.7% |
| Profit (loss) carried forward | 14 | -€1,042,273 | -€180,800 | +€861,473 | +82.7% |
| Amounts payable | 17/49 | €730,406 | €743,661 | +€13,255 | +1.8% |
| Amounts payable after more than one year | 17 | €158,333 | €141,667 | -€16,667 | -10.5% |
| Financial debts | 170/4 | €158,333 | €141,667 | -€16,667 | -10.5% |
| Amounts payable within one year | 42/48 | €363,567 | €390,226 | +€26,659 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €114,252 | €123,165 | +€8,913 | +7.8% |
| Financial debts | 43 | €2,979 | €3,758 | +€779 | +26.1% |
| Credit institutions | 430/8 | €2,979 | €3,758 | +€779 | +26.1% |
| Trade debts | 44 | €137,847 | €152,983 | +€15,136 | +11.0% |
| Suppliers | 440/4 | €137,847 | €128,333 | -€9,514 | -6.9% |
| Bills of exchange payable | 441 | - | €24,650 | +€24,650 | |
| Advances received on contracts in progress | 46 | €90 | €90 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €91,051 | €93,034 | +€1,983 | +2.2% |
| Taxes | 450/3 | €13,625 | €12,126 | -€1,499 | -11.0% |
| Remuneration and social security | 454/9 | €77,426 | €80,908 | +€3,482 | +4.5% |
| Other amounts payable | 47/48 | €17,348 | €17,196 | -€152 | -0.9% |
| Accrued charges and deferred income | 492/3 | €208,506 | €211,769 | +€3,263 | +1.6% |
| Remuneration, social security and pensions | 62 | €781,531 | €889,617 | +€108,087 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,623 | €220,468 | +€77,845 | +54.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,250 | €0 | -€2,250 | -100% |
| Other operating charges | 640/8 | €1,680 | €1,476 | -€204 | -12.1% |
| Non-recurring operating charges | 66A | €495 | €13 | -€482 | -97.4% |
| Gross operating margin | 9900 | €405,412 | €374,154 | -€31,258 | -7.7% |
| Operating profit (loss) | 9901 | -€523,166 | -€737,420 | -€214,254 | -41.0% |
| Financial income | 75/76B | €36 | €42 | +€7 | +18.6% |
| Recurring financial income | 75 | €36 | €42 | +€7 | +18.6% |
| Financial charges | 65/66B | €19,503 | €29,778 | +€10,274 | +52.7% |
| Recurring financial charges | 65 | €19,503 | €29,778 | +€10,274 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | -€542,634 | -€767,155 | -€224,521 | -41.4% |
| Income taxes | 67/77 | €128 | €141 | +€13 | +10.2% |
| Profit (loss) for the period | 9904 | -€542,762 | -€767,296 | -€224,534 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€542,762 | -€767,296 | -€224,534 | -41.4% |
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 13 October 2026 via checked.be.