CIAO: what changed
Two fiscal 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.
CIAO
Largest movements
- Cash -€74,405
down €74,405 (-64.4%), from €115,591 to €41,186
mainly Other debts (-€50,000) and Tax, wage and social debts (-€26,085)
- Tangible fixed assets -€2,736
down €2,736 (-6.3%), from €43,537 to €40,800
- Receivables within one year -€2,412
down €2,412 (-61.7%), from €3,912 to €1,500
of which Trade receivables: -€3,912
- Other debts -€50,000
down €50,000 (-93.0%), from €53,748 to €3,748
- Tax, wage and social debts -€26,085
no longer reported in 2025 (was €26,085)
- Trade debts -€2,505
down €2,505 (-58.2%), from €4,303 to €1,798
- Financial income -€103,981
no longer reported in 2025 (was €103,981)
- Taxes -€24,689
down €24,689 (-100.0%), from €24,689 to €0
- Gross operating margin +€11,833
up €11,833, from -€9,213 to €2,620
- Depreciation -€374
down €374 (-12.0%), from €3,111 to €2,736
- Financial charges -€279
down €279 (-56.2%), from €496 to €217
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.
Cash bridge derived
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 | €163,039 | €83,486 | -€79,553 | -48.8% |
| Fixed assets | 21/28 | €43,537 | €40,800 | -€2,736 | -6.3% |
| Tangible fixed assets | 22/27 | €43,537 | €40,800 | -€2,736 | -6.3% |
| Land and buildings | 22 | €43,537 | €40,800 | -€2,736 | -6.3% |
| Current assets | 29/58 | €119,503 | €42,686 | -€76,817 | -64.3% |
| Amounts receivable within one year | 40/41 | €3,912 | €1,500 | -€2,412 | -61.7% |
| Trade receivables | 40 | €3,912 | - | -€3,912 | |
| Other amounts receivable | 41 | - | €1,500 | +€1,500 | |
| Cash at bank and in hand | 54/58 | €115,591 | €41,186 | -€74,405 | -64.4% |
| Total equity and liabilities | 10/49 | €163,039 | €83,486 | -€79,553 | -48.8% |
| Equity | 10/15 | €78,904 | €77,940 | -€963 | -1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,452 | €57,489 | -€963 | -1.6% |
| Amounts payable | 17/49 | €84,136 | €5,546 | -€78,590 | -93.4% |
| Amounts payable within one year | 42/48 | €84,136 | €5,546 | -€78,590 | -93.4% |
| Trade debts | 44 | €4,303 | €1,798 | -€2,505 | -58.2% |
| Suppliers | 440/4 | €4,303 | €1,798 | -€2,505 | -58.2% |
| Taxes, remuneration and social security | 45 | €26,085 | - | -€26,085 | |
| Taxes | 450/3 | €26,085 | - | -€26,085 | |
| Other amounts payable | 47/48 | €53,748 | €3,748 | -€50,000 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,111 | €2,736 | -€374 | -12.0% |
| Other operating charges | 640/8 | €567 | €630 | +€62 | +11.0% |
| Gross operating margin | 9900 | -€9,213 | €2,620 | +€11,833 | |
| Operating profit (loss) | 9901 | -€12,891 | -€746 | +€12,145 | +94.2% |
| Financial income | 75/76B | €103,981 | - | -€103,981 | |
| Recurring financial income | 75 | €103,981 | - | -€103,981 | |
| Financial charges | 65/66B | €496 | €217 | -€279 | -56.2% |
| Recurring financial charges | 65 | €496 | €217 | -€279 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €90,594 | -€963 | -€91,557 | |
| Income taxes | 67/77 | €24,689 | €0 | -€24,689 | -100.0% |
| Profit (loss) for the period | 9904 | €65,905 | -€963 | -€66,868 | |
| Profit (loss) for the period to be appropriated | 9905 | €65,905 | -€963 | -€66,868 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.