CIEFFE: 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.
CIEFFE
Largest movements
- Receivables within one year +€38,140
up €38,140 (+133%), from €28,596 to €66,736
of which Other amounts receivable: +€21,434
- Tangible fixed assets -€24,450
down €24,450 (-20.2%), from €121,229 to €96,779
of which Land and buildings: -€15,628
- Cash -€15,407
down €15,407 (-17.8%), from €86,420 to €71,013
mainly Receivables within one year (-€38,140) and Debts after one year (-€27,705)
- Deferred charges and accrued income +€3,181
up €3,181 (+61.4%), from €5,177 to €8,358
- Debts after one year -€27,705
down €27,705 (-50.2%), from €55,209 to €27,504
- Profit (loss) carried forward +€26,196
up €26,196 (+24.7%), from €105,848 to €132,045
- Trade debts +€7,978
up €7,978 (+31.4%), from €25,415 to €33,393
- Tax, wage and social debts -€6,706
down €6,706 (-31.8%), from €21,059 to €14,353
- Gross operating margin -€28,993
down €28,993 (-13.4%), from €216,703 to €187,710
- Staff costs -€17,213
down €17,213 (-13.1%), from €131,219 to €114,006
- Other operating charges -€3,000
down €3,000 (-87.5%), from €3,427 to €427
- Financial charges -€3,000
down €3,000 (-35.2%), from €8,520 to €5,520
- Taxes -€2,540
down €2,540 (-19.5%), from €13,021 to €10,481
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 | €255,167 | €255,124 | -€43 | 0.0% |
| Fixed assets | 21/28 | €122,079 | €97,629 | -€24,450 | -20.0% |
| Tangible fixed assets | 22/27 | €121,229 | €96,779 | -€24,450 | -20.2% |
| Land and buildings | 22 | €71,158 | €55,530 | -€15,628 | -22.0% |
| Plant, machinery and equipment | 23 | €33,900 | €33,174 | -€725 | -2.1% |
| Furniture and vehicles | 24 | €16,171 | €8,074 | -€8,097 | -50.1% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €133,089 | €157,495 | +€24,407 | +18.3% |
| Stocks and contracts in progress | 3 | €12,896 | €11,388 | -€1,508 | -11.7% |
| Stocks | 30/36 | €12,896 | €11,388 | -€1,508 | -11.7% |
| Amounts receivable within one year | 40/41 | €28,596 | €66,736 | +€38,140 | +133% |
| Trade receivables | 40 | €15,493 | €32,198 | +€16,706 | +108% |
| Other amounts receivable | 41 | €13,103 | €34,538 | +€21,434 | +164% |
| Cash at bank and in hand | 54/58 | €86,420 | €71,013 | -€15,407 | -17.8% |
| Deferred charges and accrued income | 490/1 | €5,177 | €8,358 | +€3,181 | +61.4% |
| Total equity and liabilities | 10/49 | €255,167 | €255,124 | -€43 | 0.0% |
| Equity | 10/15 | €125,973 | €152,170 | +€26,196 | +20.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,925 | €13,925 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,065 | €12,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,848 | €132,045 | +€26,196 | +24.7% |
| Amounts payable | 17/49 | €129,194 | €102,955 | -€26,240 | -20.3% |
| Amounts payable after more than one year | 17 | €55,209 | €27,504 | -€27,705 | -50.2% |
| Financial debts | 170/4 | €55,209 | €27,504 | -€27,705 | -50.2% |
| Amounts payable within one year | 42/48 | €73,985 | €75,451 | +€1,466 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €27,512 | €27,705 | +€194 | +0.7% |
| Trade debts | 44 | €25,415 | €33,393 | +€7,978 | +31.4% |
| Suppliers | 440/4 | €25,415 | €33,393 | +€7,978 | +31.4% |
| Taxes, remuneration and social security | 45 | €21,059 | €14,353 | -€6,706 | -31.8% |
| Taxes | 450/3 | €21,059 | €14,353 | -€6,706 | -31.8% |
| Remuneration, social security and pensions | 62 | €131,219 | €114,006 | -€17,213 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,893 | €31,082 | +€189 | +0.6% |
| Other operating charges | 640/8 | €3,427 | €427 | -€3,000 | -87.5% |
| Gross operating margin | 9900 | €216,703 | €187,710 | -€28,993 | -13.4% |
| Operating profit (loss) | 9901 | €51,164 | €42,194 | -€8,970 | -17.5% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €8,520 | €5,520 | -€3,000 | -35.2% |
| Recurring financial charges | 65 | €8,520 | €5,520 | -€3,000 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €42,644 | €36,678 | -€5,966 | -14.0% |
| Income taxes | 67/77 | €13,021 | €10,481 | -€2,540 | -19.5% |
| Profit (loss) for the period | 9904 | €29,622 | €26,196 | -€3,426 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,622 | €26,196 | -€3,426 | -11.6% |
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 16 October 2026 via checked.be.