CIGADIAL: 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.
CIGADIAL
Largest movements
- Current investments +€60,918
up €60,918 (+32.6%), from €186,666 to €247,584
- Cash -€6,829
down €6,829 (-45.9%), from €14,888 to €8,059
mainly Current investments (-€60,918) and Trade debts (-€3,393)
- Other debts +€42,660
up €42,660 (+74.2%), from €57,503 to €100,163
- Reserves +€13,300
up €13,300 (+14.6%), from €91,400 to €104,700
of which Distributable reserves: +€13,300
- Trade debts -€3,393
down €3,393 (-91.6%), from €3,706 to €313
- Financial charges -€13,406
down €13,406, from €6,078 to -€7,328
- Financial income +€2,044
up €2,044 (+31.0%), from €6,594 to €8,638
- Taxes +€1,530
up €1,530 (+85.6%), from €1,787 to €3,317
- Gross operating margin -€1,314
down €1,314 (-24.8%), from €5,300 to €3,987
- Depreciation -€345
down €345 (-11.9%), from €2,908 to €2,563
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 | €218,974 | €270,721 | +€51,747 | +23.6% |
| Fixed assets | 21/28 | €14,614 | €12,051 | -€2,563 | -17.5% |
| Tangible fixed assets | 22/27 | €14,614 | €12,051 | -€2,563 | -17.5% |
| Land and buildings | 22 | €14,614 | €12,051 | -€2,563 | -17.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €204,360 | €258,670 | +€54,310 | +26.6% |
| Amounts receivable within one year | 40/41 | €2,278 | €2,231 | -€48 | -2.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €2,278 | €2,231 | -€48 | -2.1% |
| Current investments | 50/53 | €186,666 | €247,584 | +€60,918 | +32.6% |
| Cash at bank and in hand | 54/58 | €14,888 | €8,059 | -€6,829 | -45.9% |
| Deferred charges and accrued income | 490/1 | €528 | €797 | +€270 | +51.1% |
| Total equity and liabilities | 10/49 | €218,974 | €270,721 | +€51,747 | +23.6% |
| Equity | 10/15 | €156,204 | €169,570 | +€13,366 | +8.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €91,400 | €104,700 | +€13,300 | +14.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €85,200 | €98,500 | +€13,300 | +15.6% |
| Profit (loss) carried forward | 14 | €2,804 | €2,870 | +€66 | +2.4% |
| Amounts payable | 17/49 | €62,771 | €101,152 | +€38,381 | +61.1% |
| Amounts payable within one year | 42/48 | €62,771 | €101,152 | +€38,381 | +61.1% |
| Financial debts | 43 | €1,014 | €0 | -€1,014 | -100.0% |
| Credit institutions | 430/8 | €1,014 | €0 | -€1,014 | -100.0% |
| Trade debts | 44 | €3,706 | €313 | -€3,393 | -91.6% |
| Suppliers | 440/4 | €3,706 | €313 | -€3,393 | -91.6% |
| Taxes, remuneration and social security | 45 | €548 | €676 | +€128 | +23.4% |
| Taxes | 450/3 | €548 | €676 | +€128 | +23.4% |
| Other amounts payable | 47/48 | €57,503 | €100,163 | +€42,660 | +74.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,908 | €2,563 | -€345 | -11.9% |
| Other operating charges | 640/8 | €687 | €707 | +€20 | +2.9% |
| Gross operating margin | 9900 | €5,300 | €3,987 | -€1,314 | -24.8% |
| Operating profit (loss) | 9901 | €1,706 | €717 | -€988 | -57.9% |
| Financial income | 75/76B | €6,594 | €8,638 | +€2,044 | +31.0% |
| Recurring financial income | 75 | €6,594 | €8,638 | +€2,044 | +31.0% |
| Financial charges | 65/66B | €6,078 | -€7,328 | -€13,406 | |
| Recurring financial charges | 65 | €6,078 | -€7,328 | -€13,406 | |
| Profit (loss) for the period before taxes | 9903 | €2,222 | €16,683 | +€14,461 | +650.9% |
| Income taxes | 67/77 | €1,787 | €3,317 | +€1,530 | +85.6% |
| Profit (loss) for the period | 9904 | €435 | €13,366 | +€12,931 | +2973.4% |
| Profit (loss) for the period to be appropriated | 9905 | €435 | €13,366 | +€12,931 | +2973.4% |
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 4 October 2026 via checked.be.