A theoretical protocol to study the sensitization and emission mechanism in lanthanide compounds on the basis of multireference CASSCF/PT2 calculations is proposed and applied to [Eu(NO3)3(dppz-CN)] and [Eu(NO3)3(dppz-NO2)] compounds synthesized and characterized herein. The method consists of a fragmentation scheme where both the ligand and the lanthanide fragments were calculated separately but at the same level of theory, using ab initio wave-function-based methods which are adequate for the treatment of quasi-degenerate states. This is based on the fact that the absorption is ligand-localized and the emission is europium-centered. This characteristic allowed us to describe the most probable energy transfer pathways that take place in the complexes, which involved an ISC between the S1 to T1 ligand states, energy transfer to 5D2 in the lanthanide fragment, and further 5D0 → 7FJ emission. For both compounds, the triplet and 5D2 states were determined at the CASPT2 level to be around ∼26000 and ∼22400 cm-1, respectively. This difference is in the optimal range for the energy transfer process. Finally, the emissive state 5D0 was found at ∼18000 cm-1 and the emission bands in the range 550-700 nm, in quite good agreement with the experimental results.