CIEZKO: 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.
CIEZKO
Largest movements
- Receivables within one year +€59,195
up €59,195 (+47.8%), from €123,811 to €183,006
of which Other amounts receivable: +€50,993
- Cash -€52,789
down €52,789 (-35.6%), from €148,430 to €95,641
mainly Receivables within one year (-€59,195) and Tax, wage and social debts (-€20,429)
- Reserves +€34,724
up €34,724 (+59.6%), from €58,258 to €92,982
of which Distributable reserves: +€35,139
- Tax, wage and social debts -€20,429
down €20,429 (-51.5%), from €39,652 to €19,223
of which Remuneration and social security: -€12,000
- Debts after one year -€7,745
down €7,745 (-100.0%), from €7,745 to €0
- Gross operating margin +€21,692
up €21,692 (+35.5%), from €61,178 to €82,870
- Taxes +€4,929
up €4,929 (+40.4%), from €12,188 to €17,117
- Depreciation +€2,429
up €2,429 (+15.5%), from €15,672 to €18,102
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 | €416,196 | €425,413 | +€9,217 | +2.2% |
| Fixed assets | 21/28 | €143,144 | €143,394 | +€250 | +0.2% |
| Tangible fixed assets | 22/27 | €143,144 | €143,394 | +€250 | +0.2% |
| Land and buildings | 22 | €132,447 | €133,854 | +€1,407 | +1.1% |
| Plant, machinery and equipment | 23 | €3,259 | €3,707 | +€449 | +13.8% |
| Furniture and vehicles | 24 | €7,438 | €5,832 | -€1,606 | -21.6% |
| Current assets | 29/58 | €273,052 | €282,020 | +€8,968 | +3.3% |
| Amounts receivable within one year | 40/41 | €123,811 | €183,006 | +€59,195 | +47.8% |
| Trade receivables | 40 | €15,811 | €24,013 | +€8,202 | +51.9% |
| Other amounts receivable | 41 | €108,000 | €158,993 | +€50,993 | +47.2% |
| Current investments | 50/53 | €810 | €0 | -€810 | -100.0% |
| Cash at bank and in hand | 54/58 | €148,430 | €95,641 | -€52,789 | -35.6% |
| Deferred charges and accrued income | 490/1 | €0 | €3,372 | +€3,372 | |
| Total equity and liabilities | 10/49 | €416,196 | €425,413 | +€9,217 | +2.2% |
| Equity | 10/15 | €352,918 | €387,642 | +€34,724 | +9.8% |
| Contributions | 10/11 | €6,667 | €6,667 | = | 0.0% |
| Reserves | 13 | €58,258 | €92,982 | +€34,724 | +59.6% |
| Non-distributable reserves | 130/1 | €415 | €0 | -€415 | -100.0% |
| Reserves not available under the articles | 1311 | €415 | €0 | -€415 | -100.0% |
| Tax-exempt reserves | 132 | €10,031 | €10,031 | = | 0.0% |
| Distributable reserves | 133 | €47,813 | €82,951 | +€35,139 | +73.5% |
| Profit (loss) carried forward | 14 | €287,993 | €287,993 | = | 0.0% |
| Amounts payable | 17/49 | €63,278 | €37,771 | -€25,506 | -40.3% |
| Amounts payable after more than one year | 17 | €7,745 | €0 | -€7,745 | -100.0% |
| Financial debts | 170/4 | €7,745 | €0 | -€7,745 | -100.0% |
| Amounts payable within one year | 42/48 | €55,533 | €37,771 | -€17,761 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €7,570 | €7,755 | +€185 | +2.4% |
| Trade debts | 44 | €8,018 | €10,793 | +€2,775 | +34.6% |
| Suppliers | 440/4 | €8,018 | €10,793 | +€2,775 | +34.6% |
| Taxes, remuneration and social security | 45 | €39,652 | €19,223 | -€20,429 | -51.5% |
| Taxes | 450/3 | €27,652 | €19,223 | -€8,429 | -30.5% |
| Remuneration and social security | 454/9 | €12,000 | €0 | -€12,000 | -100.0% |
| Other amounts payable | 47/48 | €292 | €0 | -€292 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,672 | €18,102 | +€2,429 | +15.5% |
| Other operating charges | 640/8 | €1,599 | €1,550 | -€49 | -3.1% |
| Gross operating margin | 9900 | €61,178 | €82,870 | +€21,692 | +35.5% |
| Operating profit (loss) | 9901 | €43,906 | €63,218 | +€19,312 | +44.0% |
| Financial income | 75/76B | €0 | €281 | +€280 | +73792.1% |
| Recurring financial income | 75 | €0 | €281 | +€280 | +73792.1% |
| Financial charges | 65/66B | €1,838 | €1,606 | -€232 | -12.6% |
| Recurring financial charges | 65 | €1,838 | €1,606 | -€232 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €42,069 | €61,893 | +€19,824 | +47.1% |
| Income taxes | 67/77 | €12,188 | €17,117 | +€4,929 | +40.4% |
| Profit (loss) for the period | 9904 | €29,881 | €44,776 | +€14,895 | +49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,881 | €44,776 | +€14,895 | +49.8% |
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 11 October 2026 via checked.be.