CIGLO HOLDING: 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.
What changed
CIGLO HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€16,625
2024 · €68,351-€84,976
Equity
€14.6m
2024 · €14.6m-€16,625
Cash
€30,265
2024 · €29,930+€335
Balance sheet total
€21.3m
2024 · €21.2m+€64,145
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€266,454
down €266,454 (-5.3%), from €5.0m to €4.7m
Income statement
- Gross operating margin -€77,231
down €77,231 (-24.7%), from €312,191 to €234,960
- Depreciation +€12,952
up €12,952 (+420%), from €3,085 to €16,037
- Taxes -€7,740
down €7,740 (-100.0%), from €7,741 to €1
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.
Result 2024
€68,351
Gross operating margin
-€77,231
Depreciation
-€12,952
Other operating charges
-€445
Financial charges
-€2,088
Taxes
+€7,740
Result 2025
-€16,625
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€276,506
Investment
-€88,872
Financing
-€187,299
Cash 2024
€29,930
From operations (derived)
+€276,506
Net result for the year
-€16,625
Depreciation
+€16,037
Receivables within one year
+€10,073
Deferred charges and accrued income
-€1,048
Provisions
+€212,500
Trade debts
-€2,047
Tax, wage and social debts
-€7,384
Other debts
+€65,000
Investment (derived)
-€88,872
Investment in fixed assets (net)
-€88,872
Financing
-€187,299
Debts after one year
-€266,454
Current portion of long-term debt
+€79,155
Cash 2025
€30,265
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,231,402 | €21,295,547 | +€64,145 | +0.3% |
| Fixed assets | 21/28 | €21,182,136 | €21,254,971 | +€72,835 | +0.3% |
| Tangible fixed assets | 22/27 | €4,585 | €77,420 | +€72,835 | +1,589% |
| Plant, machinery and equipment | 23 | €3,633 | €3,569 | -€64 | -1.8% |
| Furniture and vehicles | 24 | €952 | €73,851 | +€72,899 | +7,657% |
| Financial fixed assets | 28 | €21,177,551 | €21,177,551 | = | 0.0% |
| Current assets | 29/58 | €49,266 | €40,576 | -€8,690 | -17.6% |
| Amounts receivable within one year | 40/41 | €18,342 | €8,269 | -€10,073 | -54.9% |
| Trade receivables | 40 | €18,342 | €8,269 | -€10,073 | -54.9% |
| Cash at bank and in hand | 54/58 | €29,930 | €30,265 | +€335 | +1.1% |
| Deferred charges and accrued income | 490/1 | €994 | €2,042 | +€1,048 | +105% |
| Total equity and liabilities | 10/49 | €21,231,402 | €21,295,547 | +€64,145 | +0.3% |
| Equity | 10/15 | €14,645,318 | €14,628,693 | -€16,625 | -0.1% |
| Contributions | 10/11 | €10,971,651 | €10,818,600 | -€153,051 | -1.4% |
| Reserves | 13 | €463,867 | €616,918 | +€153,051 | +33.0% |
| Distributable reserves | 133 | €463,867 | €616,918 | +€153,051 | +33.0% |
| Profit (loss) carried forward | 14 | €3,209,800 | €3,193,175 | -€16,625 | -0.5% |
| Provisions and deferred taxes | 16 | €318,750 | €531,250 | +€212,500 | +66.7% |
| Provisions for liabilities and charges | 160/5 | €318,750 | €531,250 | +€212,500 | +66.7% |
| Other liabilities and charges | 164/5 | €318,750 | €531,250 | +€212,500 | +66.7% |
| Amounts payable | 17/49 | €6,267,334 | €6,135,604 | -€131,730 | -2.1% |
| Amounts payable after more than one year | 17 | €4,996,242 | €4,729,788 | -€266,454 | -5.3% |
| Financial debts | 170/4 | €4,996,242 | €4,729,788 | -€266,454 | -5.3% |
| Amounts payable within one year | 42/48 | €1,271,092 | €1,405,816 | +€134,724 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €260,987 | €340,142 | +€79,155 | +30.3% |
| Trade debts | 44 | €4,024 | €1,977 | -€2,047 | -50.9% |
| Suppliers | 440/4 | €4,024 | €1,977 | -€2,047 | -50.9% |
| Taxes, remuneration and social security | 45 | €7,384 | - | -€7,384 | |
| Taxes | 450/3 | €7,384 | - | -€7,384 | |
| Other amounts payable | 47/48 | €998,697 | €1,063,697 | +€65,000 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,085 | €16,037 | +€12,952 | +420% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €212,500 | €212,500 | = | 0.0% |
| Other operating charges | 640/8 | €1,094 | €1,539 | +€445 | +40.7% |
| Gross operating margin | 9900 | €312,191 | €234,960 | -€77,231 | -24.7% |
| Operating profit (loss) | 9901 | €95,512 | €4,884 | -€90,628 | -94.9% |
| Financial charges | 65/66B | €19,420 | €21,508 | +€2,088 | +10.8% |
| Recurring financial charges | 65 | €19,420 | €21,508 | +€2,088 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €76,092 | -€16,624 | -€92,716 | |
| Income taxes | 67/77 | €7,741 | €1 | -€7,740 | -100.0% |
| Profit (loss) for the period | 9904 | €68,351 | -€16,625 | -€84,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €68,351 | -€16,625 | -€84,976 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.