EMISSIONS ZERO: 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.
EMISSIONS ZERO
Largest movements
- Cash +€512,466
up €512,466 (+124.8%), from €410,567 to €923,033
mainly Current portion of long-term debt (+€600,850) and Net result for the year (+€303,860)
- Financial fixed assets +€363,364
up €363,364 (+6.5%), from €5.5m to €5.9m
- Receivables within one year -€216,957
down €216,957 (-43.7%), from €495,966 to €279,009
of which Trade receivables: -€111,519
- Deferred charges and accrued income +€127,119
up €127,119 (+49.2%), from €258,168 to €385,287
- Current portion of long-term debt +€600,850
up €600,850 (+665.5%), from €90,282 to €691,132
- Contributions +€172,900
up €172,900 (+2.8%), from €6.1m to €6.3m
- Reserves +€118,026
up €118,026 (+37.7%), from €313,224 to €431,250
- Debts after one year -€91,132
down €91,132 (-16.7%), from €545,382 to €454,250
- Financial income +€198,899
up €198,899 (+51.6%), from €385,463 to €584,362
- Gross operating margin -€115,411
down €115,411, from €17,730 to -€97,681
- Staff costs -€15,767
down €15,767 (-28.7%), from €54,897 to €39,129
- Depreciation +€11,674
up €11,674 (+11.0%), from €106,531 to €118,205
- Financial charges +€11,240
up €11,240 (+102.0%), from €11,025 to €22,265
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,679,502 | €8,557,148 | +€877,647 | +11.4% |
| Fixed assets | 21/28 | €6,514,801 | €6,969,820 | +€455,019 | +7.0% |
| Intangible fixed assets | 21 | €115,649 | €136,660 | +€21,011 | +18.2% |
| Tangible fixed assets | 22/27 | €850,740 | €921,384 | +€70,644 | +8.3% |
| Land and buildings | 22 | €473,215 | €369,758 | -€103,457 | -21.9% |
| Plant, machinery and equipment | 23 | - | €548,813 | +€548,813 | |
| Furniture and vehicles | 24 | €2,216 | €2,813 | +€597 | +26.9% |
| Assets under construction and advance payments | 27 | €375,309 | - | -€375,309 | |
| Financial fixed assets | 28 | €5,548,413 | €5,911,777 | +€363,364 | +6.5% |
| Current assets | 29/58 | €1,164,700 | €1,587,328 | +€422,628 | +36.3% |
| Amounts receivable within one year | 40/41 | €495,966 | €279,009 | -€216,957 | -43.7% |
| Trade receivables | 40 | €190,291 | €78,773 | -€111,519 | -58.6% |
| Other amounts receivable | 41 | €305,675 | €200,236 | -€105,438 | -34.5% |
| Cash at bank and in hand | 54/58 | €410,567 | €923,033 | +€512,466 | +124.8% |
| Deferred charges and accrued income | 490/1 | €258,168 | €385,287 | +€127,119 | +49.2% |
| Total equity and liabilities | 10/49 | €7,679,502 | €8,557,148 | +€877,647 | +11.4% |
| Equity | 10/15 | €6,772,055 | €7,062,981 | +€290,926 | +4.3% |
| Contributions | 10/11 | €6,139,640 | €6,312,540 | +€172,900 | +2.8% |
| Reserves | 13 | €313,224 | €431,250 | +€118,026 | +37.7% |
| Non-distributable reserves | 130/1 | €313,224 | €431,250 | +€118,026 | +37.7% |
| Reserves not available under the articles | 1311 | €56,049 | €56,049 | = | 0.0% |
| Other | 1319 | €257,175 | €375,201 | +€118,026 | +45.9% |
| Profit (loss) carried forward | 14 | €319,191 | €319,191 | = | 0.0% |
| Amounts payable | 17/49 | €907,446 | €1,494,167 | +€586,721 | +64.7% |
| Amounts payable after more than one year | 17 | €545,382 | €454,250 | -€91,132 | -16.7% |
| Financial debts | 170/4 | €545,382 | €454,250 | -€91,132 | -16.7% |
| Amounts payable within one year | 42/48 | €360,853 | €1,038,706 | +€677,853 | +187.8% |
| Current portion of amounts payable after more than one year | 42 | €90,282 | €691,132 | +€600,850 | +665.5% |
| Trade debts | 44 | €31,772 | €103,646 | +€71,874 | +226.2% |
| Suppliers | 440/4 | €31,772 | €103,646 | +€71,874 | +226.2% |
| Advances received on contracts in progress | 46 | €6,437 | - | -€6,437 | |
| Taxes, remuneration and social security | 45 | €51,754 | €55,164 | +€3,410 | +6.6% |
| Taxes | 450/3 | €51,754 | €55,164 | +€3,410 | +6.6% |
| Other amounts payable | 47/48 | €180,609 | €188,764 | +€8,155 | +4.5% |
| Accrued charges and deferred income | 492/3 | €1,211 | €1,211 | = | 0.0% |
| Non-recurring operating income | 76A | €5,909 | €77 | -€5,831 | -98.7% |
| Remuneration, social security and pensions | 62 | €54,897 | €39,129 | -€15,767 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,531 | €118,205 | +€11,674 | +11.0% |
| Other operating charges | 640/8 | €960 | €1,949 | +€989 | +103.0% |
| Non-recurring operating charges | 66A | €206 | €765 | +€558 | +270.7% |
| Gross operating margin | 9900 | €17,730 | -€97,681 | -€115,411 | |
| Operating profit (loss) | 9901 | -€144,865 | -€257,730 | -€112,865 | -77.9% |
| Financial income | 75/76B | €385,463 | €584,362 | +€198,899 | +51.6% |
| Recurring financial income | 75 | €385,463 | €584,362 | +€198,899 | +51.6% |
| Financial charges | 65/66B | €11,025 | €22,265 | +€11,240 | +102.0% |
| Recurring financial charges | 65 | €11,025 | €22,265 | +€11,240 | +102.0% |
| Profit (loss) for the period before taxes | 9903 | €229,574 | €304,368 | +€74,794 | +32.6% |
| Income taxes | 67/77 | €51 | €507 | +€456 | +889.9% |
| Profit (loss) for the period | 9904 | €229,523 | €303,860 | +€74,338 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €229,523 | €303,860 | +€74,338 | +32.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.