CIGA: 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.
CIGA
Largest movements
- Cash -€50,619
down €50,619 (-59.3%), from €85,393 to €34,774
mainly Contributions, distributions and other (-€121,082) and Tax, wage and social debts (-€11,687)
- Receivables within one year +€4,986
up €4,986 (+29.2%), from €17,097 to €22,082
of which Other amounts receivable: +€4,035
- Reserves -€69,723
no longer reported in 2025 (was €69,723)
- Other debts +€31,105
up €31,105 (+343.6%), from €9,053 to €40,159
- Tax, wage and social debts -€11,687
down €11,687 (-43.8%), from €26,672 to €14,985
- Trade debts +€3,748
up €3,748 (+826.6%), from €453 to €4,202
- Gross operating margin -€23,285
down €23,285 (-24.7%), from €94,351 to €71,066
- Taxes -€4,401
down €4,401 (-24.1%), from €18,231 to €13,831
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 | €107,401 | €60,845 | -€46,556 | -43.3% |
| Fixed assets | 21/28 | €4,911 | €3,989 | -€922 | -18.8% |
| Tangible fixed assets | 22/27 | €4,911 | €3,989 | -€922 | -18.8% |
| Furniture and vehicles | 24 | €4,911 | €3,989 | -€922 | -18.8% |
| Current assets | 29/58 | €102,490 | €56,856 | -€45,634 | -44.5% |
| Amounts receivable within one year | 40/41 | €17,097 | €22,082 | +€4,986 | +29.2% |
| Trade receivables | 40 | €17,097 | €18,047 | +€950 | +5.6% |
| Other amounts receivable | 41 | - | €4,035 | +€4,035 | |
| Cash at bank and in hand | 54/58 | €85,393 | €34,774 | -€50,619 | -59.3% |
| Total equity and liabilities | 10/49 | €107,401 | €60,845 | -€46,556 | -43.3% |
| Equity | 10/15 | €71,223 | €1,500 | -€69,723 | -97.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €69,723 | - | -€69,723 | |
| Distributable reserves | 133 | €69,723 | - | -€69,723 | |
| Amounts payable | 17/49 | €36,178 | €59,345 | +€23,167 | +64.0% |
| Amounts payable within one year | 42/48 | €36,178 | €59,345 | +€23,167 | +64.0% |
| Trade debts | 44 | €453 | €4,202 | +€3,748 | +826.6% |
| Suppliers | 440/4 | €453 | €4,202 | +€3,748 | +826.6% |
| Taxes, remuneration and social security | 45 | €26,672 | €14,985 | -€11,687 | -43.8% |
| Taxes | 450/3 | €26,672 | €14,985 | -€11,687 | -43.8% |
| Other amounts payable | 47/48 | €9,053 | €40,159 | +€31,105 | +343.6% |
| Remuneration, social security and pensions | 62 | €1,850 | €2,170 | +€320 | +17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,262 | €2,808 | -€454 | -13.9% |
| Other operating charges | 640/8 | €409 | €816 | +€408 | +99.8% |
| Gross operating margin | 9900 | €94,351 | €71,066 | -€23,285 | -24.7% |
| Operating profit (loss) | 9901 | €88,831 | €65,272 | -€23,558 | -26.5% |
| Financial charges | 65/66B | €876 | €83 | -€793 | -90.6% |
| Recurring financial charges | 65 | €876 | €83 | -€793 | -90.6% |
| Profit (loss) for the period before taxes | 9903 | €87,955 | €65,190 | -€22,765 | -25.9% |
| Income taxes | 67/77 | €18,231 | €13,831 | -€4,401 | -24.1% |
| Profit (loss) for the period | 9904 | €69,723 | €51,359 | -€18,364 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €69,723 | €51,359 | -€18,364 | -26.3% |
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 1 October 2026 via checked.be.