CIERS MANAGEMENT: 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.
CIERS MANAGEMENT
Largest movements
- Tangible fixed assets +€42,391
up €42,391 (+160.6%), from €26,394 to €68,785
of which Furniture and vehicles: +€43,602
- Receivables within one year +€10,872
up €10,872 (+885.1%), from €1,228 to €12,100
of which Trade receivables: +€11,250
- Cash -€9,443
down €9,443 (-27.6%), from €34,171 to €24,728
mainly Investment in fixed assets (net) (-€64,963) and Receivables within one year (-€10,872)
- Debts after one year +€30,568
new in 2025: €30,568
- Reserves +€14,248
up €14,248 (+52.1%), from €27,350 to €41,598
- Current portion of long-term debt +€14,038
new in 2025: €14,038
- Profit (loss) carried forward -€10,073
down €10,073 (-100.0%), from €10,073 to €0
- Tax, wage and social debts -€4,285
down €4,285 (-25.6%), from €16,734 to €12,449
of which Taxes: -€4,285
- Depreciation +€13,897
up €13,897 (+160.2%), from €8,675 to €22,572
- Gross operating margin +€8,300
up €8,300 (+36.5%), from €22,734 to €31,034
- Financial charges +€1,491
up €1,491 (+817.8%), from €182 to €1,673
- Taxes -€1,264
down €1,264 (-42.4%), from €2,984 to €1,720
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 | €62,419 | €106,244 | +€43,825 | +70.2% |
| Fixed assets | 21/28 | €26,394 | €68,785 | +€42,391 | +160.6% |
| Tangible fixed assets | 22/27 | €26,394 | €68,785 | +€42,391 | +160.6% |
| Plant, machinery and equipment | 23 | €5,272 | €4,483 | -€789 | -15.0% |
| Furniture and vehicles | 24 | €17,042 | €60,645 | +€43,602 | +255.8% |
| Other tangible fixed assets | 26 | €4,080 | €3,658 | -€422 | -10.4% |
| Current assets | 29/58 | €36,025 | €37,459 | +€1,434 | +4.0% |
| Amounts receivable within one year | 40/41 | €1,228 | €12,100 | +€10,872 | +885.1% |
| Trade receivables | 40 | €850 | €12,100 | +€11,250 | +1323.5% |
| Other amounts receivable | 41 | €378 | €0 | -€378 | -100.0% |
| Cash at bank and in hand | 54/58 | €34,171 | €24,728 | -€9,443 | -27.6% |
| Deferred charges and accrued income | 490/1 | €626 | €631 | +€5 | +0.7% |
| Total equity and liabilities | 10/49 | €62,419 | €106,244 | +€43,825 | +70.2% |
| Equity | 10/15 | €40,923 | €45,098 | +€4,175 | +10.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €27,350 | €41,598 | +€14,248 | +52.1% |
| Distributable reserves | 133 | €27,350 | €41,598 | +€14,248 | +52.1% |
| Profit (loss) carried forward | 14 | €10,073 | €0 | -€10,073 | -100.0% |
| Amounts payable | 17/49 | €21,497 | €61,146 | +€39,649 | +184.4% |
| Amounts payable after more than one year | 17 | - | €30,568 | +€30,568 | |
| Financial debts | 170/4 | - | €30,568 | +€30,568 | |
| Amounts payable within one year | 42/48 | €21,427 | €30,551 | +€9,124 | +42.6% |
| Current portion of amounts payable after more than one year | 42 | - | €14,038 | +€14,038 | |
| Trade debts | 44 | €4,692 | €3,892 | -€800 | -17.1% |
| Suppliers | 440/4 | €4,692 | €3,892 | -€800 | -17.1% |
| Taxes, remuneration and social security | 45 | €16,734 | €12,449 | -€4,285 | -25.6% |
| Taxes | 450/3 | €13,934 | €9,649 | -€4,285 | -30.8% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €172 | +€172 | +77968.2% |
| Accrued charges and deferred income | 492/3 | €70 | €27 | -€43 | -61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,675 | €22,572 | +€13,897 | +160.2% |
| Other operating charges | 640/8 | €836 | €900 | +€64 | +7.7% |
| Gross operating margin | 9900 | €22,734 | €31,034 | +€8,300 | +36.5% |
| Operating profit (loss) | 9901 | €13,223 | €7,562 | -€5,661 | -42.8% |
| Financial income | 75/76B | €2 | €6 | +€5 | +238.1% |
| Recurring financial income | 75 | €2 | €6 | +€5 | +238.1% |
| Financial charges | 65/66B | €182 | €1,673 | +€1,491 | +817.8% |
| Recurring financial charges | 65 | €182 | €1,673 | +€1,491 | +817.8% |
| Profit (loss) for the period before taxes | 9903 | €13,042 | €5,895 | -€7,147 | -54.8% |
| Income taxes | 67/77 | €2,984 | €1,720 | -€1,264 | -42.4% |
| Profit (loss) for the period | 9904 | €10,058 | €4,175 | -€5,883 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,058 | €4,175 | -€5,883 | -58.5% |
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 8 October 2026 via checked.be.