EMISSIONS ZERO: 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.
EMISSIONS ZERO
Largest movements
- Financial fixed assets +€283,535
up €283,535 (+4.8%), from €5.9m to €6.2m
- Tangible fixed assets +€142,273
up €142,273 (+15.4%), from €921,384 to €1.1m
of which Land and buildings: +€141,543
- Deferred charges and accrued income -€95,162
down €95,162 (-24.7%), from €385,287 to €290,125
- Cash -€91,612
down €91,612 (-9.9%), from €923,033 to €831,421
mainly Investment in fixed assets (net) (-€607,541) and Current portion of long-term debt (-€593,383)
- Contributions +€871,520
up €871,520 (+13.8%), from €6.3m to €7.2m
- Current portion of long-term debt -€593,383
down €593,383 (-85.9%), from €691,132 to €97,749
- Gross operating margin +€195,158
up €195,158, from -€97,681 to €97,476
- Financial income -€179,876
down €179,876 (-30.8%), from €584,362 to €404,486
- Financial charges +€145,777
up €145,777 (+655%), from €22,265 to €168,042
- Depreciation +€46,000
up €46,000 (+38.9%), from €118,205 to €164,205
- Staff costs +€25,827
up €25,827 (+66.0%), from €39,129 to €64,956
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 | €8,557,148 | €8,791,670 | +€234,521 | +2.7% |
| Fixed assets | 21/28 | €6,969,820 | €7,413,155 | +€443,335 | +6.4% |
| Intangible fixed assets | 21 | €136,660 | €154,187 | +€17,527 | +12.8% |
| Tangible fixed assets | 22/27 | €921,384 | €1,063,656 | +€142,273 | +15.4% |
| Land and buildings | 22 | €369,758 | €511,302 | +€141,543 | +38.3% |
| Plant, machinery and equipment | 23 | €548,813 | €551,246 | +€2,434 | +0.4% |
| Furniture and vehicles | 24 | €2,813 | €1,108 | -€1,704 | -60.6% |
| Financial fixed assets | 28 | €5,911,777 | €6,195,312 | +€283,535 | +4.8% |
| Current assets | 29/58 | €1,587,328 | €1,378,514 | -€208,814 | -13.2% |
| Amounts receivable within one year | 40/41 | €279,009 | €256,969 | -€22,040 | -7.9% |
| Trade receivables | 40 | €78,773 | €51,971 | -€26,802 | -34.0% |
| Other amounts receivable | 41 | €200,236 | €204,998 | +€4,762 | +2.4% |
| Cash at bank and in hand | 54/58 | €923,033 | €831,421 | -€91,612 | -9.9% |
| Deferred charges and accrued income | 490/1 | €385,287 | €290,125 | -€95,162 | -24.7% |
| Total equity and liabilities | 10/49 | €8,557,148 | €8,791,670 | +€234,521 | +2.7% |
| Equity | 10/15 | €7,062,981 | €7,909,960 | +€846,979 | +12.0% |
| Contributions | 10/11 | €6,312,540 | €7,184,060 | +€871,520 | +13.8% |
| Reserves | 13 | €431,250 | €371,293 | -€59,957 | -13.9% |
| Non-distributable reserves | 130/1 | €431,250 | €371,293 | -€59,957 | -13.9% |
| Reserves not available under the articles | 1311 | €56,049 | €56,049 | = | 0.0% |
| Other | 1319 | €375,201 | €315,244 | -€59,957 | -16.0% |
| Profit (loss) carried forward | 14 | €319,191 | €272,817 | -€46,374 | -14.5% |
| Investment grants | 15 | - | €81,791 | +€81,791 | |
| Amounts payable | 17/49 | €1,494,167 | €881,709 | -€612,458 | -41.0% |
| Amounts payable after more than one year | 17 | €454,250 | €442,822 | -€11,428 | -2.5% |
| Financial debts | 170/4 | €454,250 | €442,822 | -€11,428 | -2.5% |
| Amounts payable within one year | 42/48 | €1,038,706 | €437,647 | -€601,060 | -57.9% |
| Current portion of amounts payable after more than one year | 42 | €691,132 | €97,749 | -€593,383 | -85.9% |
| Trade debts | 44 | €103,646 | €45,972 | -€57,675 | -55.6% |
| Suppliers | 440/4 | €103,646 | €45,972 | -€57,675 | -55.6% |
| Taxes, remuneration and social security | 45 | €55,164 | €82,512 | +€27,348 | +49.6% |
| Taxes | 450/3 | €55,164 | €82,512 | +€27,348 | +49.6% |
| Other amounts payable | 47/48 | €188,764 | €211,414 | +€22,650 | +12.0% |
| Accrued charges and deferred income | 492/3 | €1,211 | €1,241 | +€30 | +2.5% |
| Non-recurring operating income | 76A | €77 | €27,987 | +€27,910 | +36,190% |
| Remuneration, social security and pensions | 62 | €39,129 | €64,956 | +€25,827 | +66.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,205 | €164,205 | +€46,000 | +38.9% |
| Other operating charges | 640/8 | €1,949 | €88 | -€1,861 | -95.5% |
| Non-recurring operating charges | 66A | €765 | €95 | -€669 | -87.5% |
| Gross operating margin | 9900 | -€97,681 | €97,476 | +€195,158 | |
| Operating profit (loss) | 9901 | -€257,730 | -€131,869 | +€125,861 | +48.8% |
| Financial income | 75/76B | €584,362 | €404,486 | -€179,876 | -30.8% |
| Recurring financial income | 75 | €584,362 | €404,486 | -€179,876 | -30.8% |
| Financial charges | 65/66B | €22,265 | €168,042 | +€145,777 | +655% |
| Recurring financial charges | 65 | €22,265 | €168,042 | +€145,777 | +655% |
| Profit (loss) for the period before taxes | 9903 | €304,368 | €104,575 | -€199,792 | -65.6% |
| Income taxes | 67/77 | €507 | €2,094 | +€1,587 | +313% |
| Profit (loss) for the period | 9904 | €303,860 | €102,481 | -€201,379 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €303,860 | €102,481 | -€201,379 | -66.3% |
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 20 October 2026 via checked.be.