CIGALES: 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.
CIGALES
Largest movements
- Cash +€27,497
up €27,497 (+88.7%), from €30,994 to €58,490
mainly Receivables within one year (+€22,501) and Other debts (+€2,667)
- Receivables within one year -€22,501
down €22,501 (-36.2%), from €62,077 to €39,576
of which Trade receivables: -€18,094
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€26,322
down €26,322 (-74.2%), from €35,461 to €9,139
- Financial income -€10,944
down €10,944 (-77.7%), from €14,081 to €3,137
- Taxes -€4,416
down €4,416 (-48.8%), from €9,054 to €4,638
- Financial charges -€3,666
down €3,666 (-51.3%), from €7,142 to €3,475
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 | €632,808 | €636,037 | +€3,229 | +0.5% |
| Fixed assets | 21/28 | €4,474 | €2,279 | -€2,195 | -49.1% |
| Tangible fixed assets | 22/27 | €4,474 | €2,279 | -€2,195 | -49.1% |
| Plant, machinery and equipment | 23 | €815 | €181 | -€634 | -77.8% |
| Furniture and vehicles | 24 | €3,659 | €2,098 | -€1,560 | -42.7% |
| Current assets | 29/58 | €628,334 | €633,758 | +€5,424 | +0.9% |
| Amounts receivable within one year | 40/41 | €62,077 | €39,576 | -€22,501 | -36.2% |
| Trade receivables | 40 | €33,197 | €15,102 | -€18,094 | -54.5% |
| Other amounts receivable | 41 | €28,880 | €24,474 | -€4,406 | -15.3% |
| Current investments | 50/53 | €534,537 | €534,881 | +€344 | +0.1% |
| Cash at bank and in hand | 54/58 | €30,994 | €58,490 | +€27,497 | +88.7% |
| Deferred charges and accrued income | 490/1 | €727 | €811 | +€84 | +11.6% |
| Total equity and liabilities | 10/49 | €632,808 | €636,037 | +€3,229 | +0.5% |
| Equity | 10/15 | €71,702 | €73,670 | +€1,968 | +2.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,702 | €40,670 | +€1,968 | +5.1% |
| Amounts payable | 17/49 | €561,105 | €562,367 | +€1,262 | +0.2% |
| Amounts payable within one year | 42/48 | €561,105 | €562,367 | +€1,262 | +0.2% |
| Trade debts | 44 | €2,031 | €2,698 | +€667 | +32.8% |
| Suppliers | 440/4 | €2,031 | €2,698 | +€667 | +32.8% |
| Taxes, remuneration and social security | 45 | €7,555 | €5,483 | -€2,072 | -27.4% |
| Taxes | 450/3 | €7,555 | €5,483 | -€2,072 | -27.4% |
| Other amounts payable | 47/48 | €551,520 | €554,187 | +€2,667 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,028 | €2,195 | +€167 | +8.2% |
| Other operating charges | 640/8 | €46 | - | -€46 | |
| Gross operating margin | 9900 | €35,461 | €9,139 | -€26,322 | -74.2% |
| Operating profit (loss) | 9901 | €33,387 | €6,944 | -€26,443 | -79.2% |
| Financial income | 75/76B | €14,081 | €3,137 | -€10,944 | -77.7% |
| Recurring financial income | 75 | €14,081 | €3,137 | -€10,944 | -77.7% |
| Financial charges | 65/66B | €7,142 | €3,475 | -€3,666 | -51.3% |
| Recurring financial charges | 65 | €7,142 | €3,475 | -€3,666 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | €40,327 | €6,606 | -€33,721 | -83.6% |
| Income taxes | 67/77 | €9,054 | €4,638 | -€4,416 | -48.8% |
| Profit (loss) for the period | 9904 | €31,273 | €1,968 | -€29,305 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,273 | €1,968 | -€29,305 | -93.7% |
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 5 October 2026 via checked.be.