The Global Carbon Budget (GCB), the community reference dataset for the carbon cycle, is reissued annually. The 2025 release introduces several adjustments to the published series that we compare with prior releases starting in 2017. On a common 1959-2016 sample, the mean of the GCB budget imbalance jumps from within +/-0.17 GtC/yr of zero for every vintage 2017-2024 to 0.61 GtC/yr in 2025, the only vintage whose 95% confidence interval for the imbalance mean excludes zero. The size of the imbalance changes much less: its mean absolute value rises from 0.61 to 0.76 GtC/yr. It is the mean, the quantity the budget identity constrains, that moves. We document and explore this shift in two ways. First, we conduct a model-free analysis, where we attribute the shift to a new adjustment that places the published land sink 0.40 GtC/yr below its ensemble mean (the average of the underlying models), a smaller adjustment in the ocean sink in the opposite direction, and a change in the composition of the bookkeeping ensemble. Second, we consider a dynamic statistical GCB model augmented with climate covariates. Its parameters are estimated for every GCB vintage 2017-2025. The coefficients of atmospheric concentrations in the sink equations shift in opposite directions on the 2025 issue, mirroring the model-free findings. A constant in the budget equation, statistically unnecessary in every vintage from 2017-2024, is required in 2025 and is estimated at -0.59 (0.09) GtC/yr. There is a persistent drifting imbalance across the entire sample in the budget equation. Each of the three adjustments is documented in the 2025 release and rests on evidence about the component it corrects. Their joint effect is a budget that closes over the last ten years and carries a mean imbalance of 0.61 GtC/yr over the full record. We argue that this cost to the full sample outweighs the gain on the last ten years.

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