CICERO: 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.
CICERO
Largest movements
- Tangible fixed assets -€90,954
down €90,954 (-5.0%), from €1.8m to €1.7m
- Debts after one year -€221,280
down €221,280 (-24.6%), from €898,760 to €677,480
- Profit (loss) carried forward +€87,862
up €87,862 (+12.3%), from €714,636 to €802,498
- Tax, wage and social debts +€46,237
up €46,237 (+107.4%), from €43,045 to €89,281
- Taxes +€31,692
up €31,692 (+217.9%), from €14,545 to €46,237
- Financial charges -€11,702
down €11,702 (-20.1%), from €58,354 to €46,652
- Gross operating margin +€3,744
up €3,744 (+1.2%), from €308,544 to €312,289
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 | €1,915,047 | €1,833,862 | -€81,185 | -4.2% |
| Fixed assets | 21/28 | €1,828,367 | €1,737,413 | -€90,954 | -5.0% |
| Tangible fixed assets | 22/27 | €1,828,367 | €1,737,413 | -€90,954 | -5.0% |
| Land and buildings | 22 | €1,828,367 | €1,737,413 | -€90,954 | -5.0% |
| Current assets | 29/58 | €86,680 | €96,449 | +€9,769 | +11.3% |
| Amounts receivable within one year | 40/41 | €74,451 | €80,931 | +€6,480 | +8.7% |
| Trade receivables | 40 | €53,954 | €80,931 | +€26,977 | +50.0% |
| Other amounts receivable | 41 | €20,497 | €0 | -€20,497 | -100.0% |
| Cash at bank and in hand | 54/58 | €12,229 | €15,518 | +€3,289 | +26.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,915,047 | €1,833,862 | -€81,185 | -4.2% |
| Equity | 10/15 | €780,095 | €867,957 | +€87,862 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,859 | €46,859 | = | 0.0% |
| Distributable reserves | 133 | €46,859 | €46,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €714,636 | €802,498 | +€87,862 | +12.3% |
| Amounts payable | 17/49 | €1,134,952 | €965,905 | -€169,047 | -14.9% |
| Amounts payable after more than one year | 17 | €898,760 | €677,480 | -€221,280 | -24.6% |
| Financial debts | 170/4 | €898,760 | €677,480 | -€221,280 | -24.6% |
| Amounts payable within one year | 42/48 | €236,165 | €287,465 | +€51,300 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €183,304 | €189,820 | +€6,515 | +3.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,816 | €8,364 | -€1,452 | -14.8% |
| Suppliers | 440/4 | €9,816 | €8,364 | -€1,452 | -14.8% |
| Taxes, remuneration and social security | 45 | €43,045 | €89,281 | +€46,237 | +107.4% |
| Taxes | 450/3 | €43,045 | €89,281 | +€46,237 | +107.4% |
| Accrued charges and deferred income | 492/3 | €26 | €960 | +€934 | +3570.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,874 | €90,954 | +€80 | +0.1% |
| Other operating charges | 640/8 | €1,354 | €1,094 | -€261 | -19.2% |
| Non-recurring operating charges | 66A | €28,500 | €39,491 | +€10,991 | +38.6% |
| Gross operating margin | 9900 | €308,544 | €312,289 | +€3,744 | +1.2% |
| Operating profit (loss) | 9901 | €187,816 | €180,750 | -€7,066 | -3.8% |
| Financial charges | 65/66B | €58,354 | €46,652 | -€11,702 | -20.1% |
| Recurring financial charges | 65 | €58,354 | €46,652 | -€11,702 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €129,463 | €134,099 | +€4,636 | +3.6% |
| Income taxes | 67/77 | €14,545 | €46,237 | +€31,692 | +217.9% |
| Profit (loss) for the period | 9904 | €114,918 | €87,862 | -€27,056 | -23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,918 | €87,862 | -€27,056 | -23.5% |
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 4 October 2026 via checked.be.