Cercle l'Union: 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.
Cercle l'Union
Largest movements
- Tangible fixed assets -€40,879
down €40,879 (-17.0%), from €239,865 to €198,985
of which Plant, machinery and equipment: -€30,521
- Cash +€11,395
up €11,395 (+14.3%), from €79,935 to €91,330
mainly Depreciation (+€41,705) and Receivables within one year (+€5,510)
- Deferred charges and accrued income +€8,852
up €8,852 (+1,770%), from €500 to €9,352
- Receivables within one year -€5,510
down €5,510 (-74.5%), from €7,392 to €1,882
- Debts after one year -€9,792
down €9,792 (-14.1%), from €69,342 to €59,550
of which Financial debts: -€9,792
- Profit (loss) carried forward -€9,472
down €9,472 (-4.8%), from €197,671 to €188,199
- Trade debts -€5,644
down €5,644 (-93.1%), from €6,064 to €420
- Gross operating margin -€15,136
down €15,136 (-28.6%), from €52,889 to €37,752
- Purchases and services +€10,325
up €10,325 (+8.1%), from €128,039 to €138,363
- Turnover -€4,812
down €4,812 (-2.7%), from €180,927 to €176,116
- Depreciation -€4,768
down €4,768 (-10.3%), from €46,473 to €41,705
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 | €333,350 | €307,236 | -€26,114 | -7.8% |
| Fixed assets | 21/28 | €239,865 | €198,985 | -€40,879 | -17.0% |
| Tangible fixed assets | 22/27 | €239,865 | €198,985 | -€40,879 | -17.0% |
| Land and buildings | 22 | €28,059 | €18,819 | -€9,240 | -32.9% |
| Plant, machinery and equipment | 23 | €208,604 | €178,083 | -€30,521 | -14.6% |
| Furniture and vehicles | 24 | €3,202 | €2,083 | -€1,119 | -34.9% |
| Current assets | 29/58 | €93,486 | €108,251 | +€14,766 | +15.8% |
| Stocks and contracts in progress | 3 | €5,659 | €5,687 | +€28 | +0.5% |
| Stocks | 30/36 | €5,659 | €5,687 | +€28 | +0.5% |
| Amounts receivable within one year | 40/41 | €7,392 | €1,882 | -€5,510 | -74.5% |
| Trade receivables | 40 | €7,392 | €1,882 | -€5,510 | -74.5% |
| Cash at bank and in hand | 54/58 | €79,935 | €91,330 | +€11,395 | +14.3% |
| Deferred charges and accrued income | 490/1 | €500 | €9,352 | +€8,852 | +1,770% |
| Total equity and liabilities | 10/49 | €333,350 | €307,236 | -€26,114 | -7.8% |
| Equity | 10/15 | €241,450 | €231,338 | -€10,112 | -4.2% |
| Contributions | 10/11 | €19,900 | €19,260 | -€640 | -3.2% |
| Capital | 10 | €19,900 | €19,260 | -€640 | -3.2% |
| Issued capital | 100 | €19,900 | €19,260 | -€640 | -3.2% |
| Reserves | 13 | €23,879 | €23,879 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,567 | €4,567 | = | 0.0% |
| Legal reserve | 130 | €2,542 | €2,542 | = | 0.0% |
| Other | 1319 | €2,025 | €2,025 | = | 0.0% |
| Distributable reserves | 133 | €19,312 | €19,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,671 | €188,199 | -€9,472 | -4.8% |
| Amounts payable | 17/49 | €91,901 | €75,898 | -€16,002 | -17.4% |
| Amounts payable after more than one year | 17 | €69,342 | €59,550 | -€9,792 | -14.1% |
| Financial debts | 170/4 | €69,237 | €59,445 | -€9,792 | -14.1% |
| Other amounts payable | 178/9 | €105 | €105 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,559 | €16,349 | -€6,210 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €9,636 | €9,792 | +€155 | +1.6% |
| Trade debts | 44 | €6,064 | €420 | -€5,644 | -93.1% |
| Suppliers | 440/4 | €6,064 | €420 | -€5,644 | -93.1% |
| Advances received on contracts in progress | 46 | €2,750 | €3,150 | +€400 | +14.5% |
| Taxes, remuneration and social security | 45 | €3,503 | €2,381 | -€1,121 | -32.0% |
| Taxes | 450/3 | €3,503 | €2,381 | -€1,121 | -32.0% |
| Other amounts payable | 47/48 | €605 | €605 | = | 0.0% |
| Turnover | 70 | €180,927 | €176,116 | -€4,812 | -2.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €128,039 | €138,363 | +€10,325 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,473 | €41,705 | -€4,768 | -10.3% |
| Other operating charges | 640/8 | €4,341 | €4,467 | +€126 | +2.9% |
| Gross operating margin | 9900 | €52,889 | €37,752 | -€15,136 | -28.6% |
| Operating profit (loss) | 9901 | €2,075 | -€8,419 | -€10,494 | |
| Financial income | 75/76B | €1 | €221 | +€220 | +36,079% |
| Recurring financial income | 75 | €1 | €221 | +€220 | +36,079% |
| Financial charges | 65/66B | €1,438 | €1,273 | -€165 | -11.5% |
| Recurring financial charges | 65 | €1,438 | €1,273 | -€165 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €637 | -€9,472 | -€10,109 | |
| Profit (loss) for the period | 9904 | €637 | -€9,472 | -€10,109 | |
| Profit (loss) for the period to be appropriated | 9905 | €637 | -€9,472 | -€10,109 |
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 26 October 2026 via checked.be.