Cicero Management: what changed
What changed
Cicero Management
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€86,165
2024 · €51,823+€34,342
Equity
€1.3m
2024 · €1.2m+€59,165
Cash
-
2024 · €0
Balance sheet total
€2.1m
2024 · €1.9m+€198,730
Largest movements
Assets
- Stocks and contracts -€120,000
down €120,000 (-30.0%), from €400,000 to €280,000
- Receivables within one year +€118,781
up €118,781 (+64.4%), from €184,325 to €303,105
of which Other amounts receivable: +€153,918
- Financial fixed assets +€108,069
up €108,069 (+43.3%), from €249,782 to €357,851
- Receivables after one year +€105,382
up €105,382 (+11.2%), from €945,000 to €1.1m
Equity and liabilities
- Advances received +€326,700
new in 2025: €326,700
- Other debts -€265,566
down €265,566 (-46.3%), from €573,004 to €307,438
- Trade debts +€70,599
up €70,599 (+203%), from €34,795 to €105,394
- Reserves +€59,165
up €59,165 (+4.8%), from €1.2m to €1.3m
of which Distributable reserves: +€59,165
Income statement
- Gross operating margin +€44,539
up €44,539 (+89.1%), from €49,966 to €94,505
- Taxes +€20,138
up €20,138 (+167%), from €12,051 to €32,190
- Financial charges -€7,269
down €7,269 (-79.2%), from €9,173 to €1,904
- Financial income +€2,290
up €2,290 (+6.3%), from €36,151 to €38,441
- Other operating charges -€1,321
down €1,321 (-25.4%), from €5,193 to €3,872
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€51,823
Gross operating margin
+€44,539
Depreciation
-€939
Other operating charges
+€1,321
Financial income
+€2,290
Financial charges
+€7,269
Taxes
-€20,138
Result 2025
€86,165
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€146,206
Investment
-€114,189
Financing
-€32,017
Cash 2024
€0
From operations (derived)
+€146,206
Net result for the year
+€86,165
Depreciation
+€8,817
Receivables after one year
-€105,382
Stocks and contracts
+€120,000
Receivables within one year
-€118,781
Deferred charges and accrued income
+€10,805
Trade debts
+€70,599
Tax, wage and social debts
+€12,850
Advances received
+€326,700
Other debts
-€265,566
Investment (derived)
-€114,189
Investment in fixed assets (net)
-€114,189
Financing
-€32,017
Short-term financial debts
-€5,017
Contributions, distributions and other
-€27,000
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,887,704 | €2,086,434 | +€198,730 | +10.5% |
| Fixed assets | 21/28 | €331,087 | €436,459 | +€105,373 | +31.8% |
| Tangible fixed assets | 22/27 | €81,305 | €78,609 | -€2,696 | -3.3% |
| Plant, machinery and equipment | 23 | - | €5,668 | +€5,668 | |
| Furniture and vehicles | 24 | €870 | €580 | -€290 | -33.3% |
| Other tangible fixed assets | 26 | €80,435 | €72,361 | -€8,074 | -10.0% |
| Financial fixed assets | 28 | €249,782 | €357,851 | +€108,069 | +43.3% |
| Current assets | 29/58 | €1,556,617 | €1,649,975 | +€93,358 | +6.0% |
| Amounts receivable after more than one year | 29 | €945,000 | €1,050,382 | +€105,382 | +11.2% |
| Other amounts receivable | 291 | €945,000 | €1,050,382 | +€105,382 | +11.2% |
| Stocks and contracts in progress | 3 | €400,000 | €280,000 | -€120,000 | -30.0% |
| Contracts in progress | 37 | €400,000 | €280,000 | -€120,000 | -30.0% |
| Amounts receivable within one year | 40/41 | €184,325 | €303,105 | +€118,781 | +64.4% |
| Trade receivables | 40 | €53,490 | €18,353 | -€35,137 | -65.7% |
| Other amounts receivable | 41 | €130,834 | €284,752 | +€153,918 | +118% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €27,293 | €16,488 | -€10,805 | -39.6% |
| Total equity and liabilities | 10/49 | €1,887,704 | €2,086,434 | +€198,730 | +10.5% |
| Equity | 10/15 | €1,236,783 | €1,295,947 | +€59,165 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,230,583 | €1,289,747 | +€59,165 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,228,723 | €1,287,887 | +€59,165 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €650,921 | €790,487 | +€139,566 | +21.4% |
| Amounts payable within one year | 42/48 | €650,921 | €790,487 | +€139,566 | +21.4% |
| Financial debts | 43 | €24,999 | €19,982 | -€5,017 | -20.1% |
| Credit institutions | 430/8 | - | €19,982 | +€19,982 | |
| Other loans | 439 | €24,999 | €0 | -€24,999 | -100% |
| Trade debts | 44 | €34,795 | €105,394 | +€70,599 | +203% |
| Suppliers | 440/4 | €34,795 | €105,394 | +€70,599 | +203% |
| Advances received on contracts in progress | 46 | - | €326,700 | +€326,700 | |
| Taxes, remuneration and social security | 45 | €18,124 | €30,973 | +€12,850 | +70.9% |
| Taxes | 450/3 | €18,124 | €30,973 | +€12,850 | +70.9% |
| Other amounts payable | 47/48 | €573,004 | €307,438 | -€265,566 | -46.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,877 | €8,817 | +€939 | +11.9% |
| Other operating charges | 640/8 | €5,193 | €3,872 | -€1,321 | -25.4% |
| Gross operating margin | 9900 | €49,966 | €94,505 | +€44,539 | +89.1% |
| Operating profit (loss) | 9901 | €36,896 | €81,817 | +€44,921 | +122% |
| Financial income | 75/76B | €36,151 | €38,441 | +€2,290 | +6.3% |
| Recurring financial income | 75 | €36,151 | €38,441 | +€2,290 | +6.3% |
| Financial charges | 65/66B | €9,173 | €1,904 | -€7,269 | -79.2% |
| Recurring financial charges | 65 | €9,173 | €1,904 | -€7,269 | -79.2% |
| Profit (loss) for the period before taxes | 9903 | €63,874 | €118,354 | +€54,480 | +85.3% |
| Income taxes | 67/77 | €12,051 | €32,190 | +€20,138 | +167% |
| Profit (loss) for the period | 9904 | €51,823 | €86,165 | +€34,342 | +66.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,823 | €86,165 | +€34,342 | +66.3% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.