CARBONE +: 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.
CARBONE +
Largest movements
- Cash -€222,712
down €222,712 (-54.3%), from €409,889 to €187,177
mainly Short-term financial debts (-€150,000) and Trade debts (-€128,720)
- Stocks and contracts -€37,570
down €37,570 (-8.0%), from €469,135 to €431,565
- Intangible fixed assets +€28,020
new in 2025: €28,020
- Tangible fixed assets -€20,636
down €20,636 (-17.6%), from €117,051 to €96,415
- Short-term financial debts -€150,000
down €150,000 (-37.5%), from €400,000 to €250,000
- Trade debts -€128,720
down €128,720 (-18.8%), from €684,450 to €555,730
- Tax, wage and social debts +€23,520
up €23,520 (+25.0%), from €94,174 to €117,694
of which Taxes: +€18,968
- Profit (loss) carried forward +€21,958
up €21,958 (+7.7%), from €285,398 to €307,356
- Gross operating margin +€54,018
up €54,018 (+7.8%), from €693,009 to €747,027
- Financial income -€18,931
down €18,931 (-96.4%), from €19,630 to €699
- Depreciation -€14,722
down €14,722 (-37.1%), from €39,703 to €24,981
- Taxes +€10,294
up €10,294 (+162%), from €6,360 to €16,654
- Financial charges -€8,732
down €8,732 (-17.3%), from €50,481 to €41,750
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 | €1,649,503 | €1,398,727 | -€250,776 | -15.2% |
| Fixed assets | 21/28 | €135,909 | €139,783 | +€3,874 | +2.9% |
| Intangible fixed assets | 21 | - | €28,020 | +€28,020 | |
| Tangible fixed assets | 22/27 | €117,051 | €96,415 | -€20,636 | -17.6% |
| Land and buildings | 22 | €80,241 | €73,531 | -€6,710 | -8.4% |
| Plant, machinery and equipment | 23 | €5,910 | €3,697 | -€2,212 | -37.4% |
| Furniture and vehicles | 24 | €20,980 | €11,661 | -€9,319 | -44.4% |
| Leasing and similar rights | 25 | €9,920 | €7,525 | -€2,395 | -24.1% |
| Financial fixed assets | 28 | €18,858 | €15,348 | -€3,510 | -18.6% |
| Current assets | 29/58 | €1,513,594 | €1,258,944 | -€254,650 | -16.8% |
| Stocks and contracts in progress | 3 | €469,135 | €431,565 | -€37,570 | -8.0% |
| Stocks | 30/36 | €469,135 | €431,565 | -€37,570 | -8.0% |
| Amounts receivable within one year | 40/41 | €624,819 | €631,383 | +€6,564 | +1.1% |
| Trade receivables | 40 | €606,179 | €622,989 | +€16,809 | +2.8% |
| Other amounts receivable | 41 | €18,640 | €8,394 | -€10,246 | -55.0% |
| Cash at bank and in hand | 54/58 | €409,889 | €187,177 | -€222,712 | -54.3% |
| Deferred charges and accrued income | 490/1 | €9,751 | €8,820 | -€932 | -9.6% |
| Total equity and liabilities | 10/49 | €1,649,503 | €1,398,727 | -€250,776 | -15.2% |
| Equity | 10/15 | €428,398 | €450,356 | +€21,958 | +5.1% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €285,398 | €307,356 | +€21,958 | +7.7% |
| Amounts payable | 17/49 | €1,221,105 | €948,371 | -€272,735 | -22.3% |
| Amounts payable after more than one year | 17 | €19,312 | €4,795 | -€14,517 | -75.2% |
| Financial debts | 170/4 | €19,312 | €4,795 | -€14,517 | -75.2% |
| Amounts payable within one year | 42/48 | €1,201,793 | €943,576 | -€258,217 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €22,608 | €14,517 | -€8,091 | -35.8% |
| Financial debts | 43 | €400,000 | €250,000 | -€150,000 | -37.5% |
| Credit institutions | 430/8 | €400,000 | €250,000 | -€150,000 | -37.5% |
| Trade debts | 44 | €684,450 | €555,730 | -€128,720 | -18.8% |
| Suppliers | 440/4 | €684,450 | €555,730 | -€128,720 | -18.8% |
| Advances received on contracts in progress | 46 | - | €5,184 | +€5,184 | |
| Taxes, remuneration and social security | 45 | €94,174 | €117,694 | +€23,520 | +25.0% |
| Taxes | 450/3 | €26,490 | €45,458 | +€18,968 | +71.6% |
| Remuneration and social security | 454/9 | €67,685 | €72,237 | +€4,552 | +6.7% |
| Other amounts payable | 47/48 | €561 | €450 | -€110 | -19.7% |
| Non-recurring operating income | 76A | - | €17,715 | +€17,715 | |
| Remuneration, social security and pensions | 62 | €621,756 | €621,579 | -€178 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,703 | €24,981 | -€14,722 | -37.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,870 | €5,929 | -€941 | -13.7% |
| Other operating charges | 640/8 | €11,183 | €14,876 | +€3,693 | +33.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €693,009 | €747,027 | +€54,018 | +7.8% |
| Operating profit (loss) | 9901 | €13,497 | €79,663 | +€66,166 | +490% |
| Financial income | 75/76B | €19,630 | €699 | -€18,931 | -96.4% |
| Recurring financial income | 75 | €19,630 | €699 | -€18,931 | -96.4% |
| Financial charges | 65/66B | €50,481 | €41,750 | -€8,732 | -17.3% |
| Recurring financial charges | 65 | €50,481 | €41,750 | -€8,732 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,354 | €38,612 | +€55,966 | |
| Income taxes | 67/77 | €6,360 | €16,654 | +€10,294 | +162% |
| Profit (loss) for the period | 9904 | -€23,714 | €21,958 | +€45,673 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,714 | €21,958 | +€45,673 |
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.