CINAR: 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.
CINAR
Largest movements
- Receivables within one year +€125,049
up €125,049, from €0 to €125,049
of which Other amounts receivable: +€122,597
- Cash -€21,816
down €21,816 (-26.2%), from €83,368 to €61,552
mainly Receivables within one year (-€125,049) and Investment in fixed assets (net) (-€36,875)
- Tangible fixed assets +€20,948
up €20,948 (+56.6%), from €36,992 to €57,939
of which Plant, machinery and equipment: +€17,001
- Deferred charges and accrued income +€10,070
up €10,070 (+188.0%), from €5,357 to €15,427
- Reserves +€90,312
up €90,312 (+116.4%), from €77,577 to €167,889
- Trade debts +€25,571
up €25,571 (+310.5%), from €8,237 to €33,808
- Tax, wage and social debts +€24,565
up €24,565 (+65.3%), from €37,636 to €62,201
of which Taxes: +€23,989
- Other debts -€6,570
down €6,570 (-100.0%), from €6,570 to €0
- Gross operating margin +€84,100
up €84,100 (+26.8%), from €314,062 to €398,162
- Taxes +€26,056
up €26,056 (+141.6%), from €18,395 to €44,451
- Other operating charges -€5,615
down €5,615 (-63.4%), from €8,861 to €3,246
- Staff costs +€4,441
up €4,441 (+1.9%), from €230,336 to €234,777
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 | €131,400 | €266,338 | +€134,937 | +102.7% |
| Fixed assets | 21/28 | €39,674 | €60,621 | +€20,948 | +52.8% |
| Tangible fixed assets | 22/27 | €36,992 | €57,939 | +€20,948 | +56.6% |
| Plant, machinery and equipment | 23 | €23,798 | €40,799 | +€17,001 | +71.4% |
| Furniture and vehicles | 24 | €8,347 | €6,156 | -€2,192 | -26.3% |
| Other tangible fixed assets | 26 | €4,847 | €10,985 | +€6,138 | +126.6% |
| Financial fixed assets | 28 | €2,682 | €2,682 | = | 0.0% |
| Current assets | 29/58 | €91,727 | €205,717 | +€113,990 | +124.3% |
| Stocks and contracts in progress | 3 | €3,002 | €3,689 | +€687 | +22.9% |
| Stocks | 30/36 | €3,002 | €3,689 | +€687 | +22.9% |
| Amounts receivable within one year | 40/41 | €0 | €125,049 | +€125,049 | |
| Trade receivables | 40 | €0 | €2,452 | +€2,452 | |
| Other amounts receivable | 41 | €0 | €122,597 | +€122,597 | |
| Cash at bank and in hand | 54/58 | €83,368 | €61,552 | -€21,816 | -26.2% |
| Deferred charges and accrued income | 490/1 | €5,357 | €15,427 | +€10,070 | +188.0% |
| Total equity and liabilities | 10/49 | €131,400 | €266,338 | +€134,937 | +102.7% |
| Equity | 10/15 | €78,817 | €169,129 | +€90,312 | +114.6% |
| Contributions | 10/11 | €1,240 | €1,240 | = | 0.0% |
| Reserves | 13 | €77,577 | €167,889 | +€90,312 | +116.4% |
| Distributable reserves | 133 | €77,577 | €167,889 | +€90,312 | +116.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,583 | €97,209 | +€44,626 | +84.9% |
| Amounts payable within one year | 42/48 | €52,443 | €96,009 | +€43,566 | +83.1% |
| Trade debts | 44 | €8,237 | €33,808 | +€25,571 | +310.5% |
| Suppliers | 440/4 | €8,237 | €33,808 | +€25,571 | +310.5% |
| Taxes, remuneration and social security | 45 | €37,636 | €62,201 | +€24,565 | +65.3% |
| Taxes | 450/3 | €4,765 | €28,754 | +€23,989 | +503.5% |
| Remuneration and social security | 454/9 | €32,872 | €33,448 | +€576 | +1.8% |
| Other amounts payable | 47/48 | €6,570 | €0 | -€6,570 | -100.0% |
| Accrued charges and deferred income | 492/3 | €141 | €1,200 | +€1,060 | +754.1% |
| Remuneration, social security and pensions | 62 | €230,336 | €234,777 | +€4,441 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,558 | €15,927 | +€1,369 | +9.4% |
| Other operating charges | 640/8 | €8,861 | €3,246 | -€5,615 | -63.4% |
| Non-recurring operating charges | 66A | €1,800 | €2,579 | +€779 | +43.3% |
| Gross operating margin | 9900 | €314,062 | €398,162 | +€84,100 | +26.8% |
| Operating profit (loss) | 9901 | €58,506 | €141,633 | +€83,126 | +142.1% |
| Financial income | 75/76B | €1,943 | €269 | -€1,674 | -86.1% |
| Recurring financial income | 75 | €1,943 | €269 | -€1,674 | -86.1% |
| Financial charges | 65/66B | €7,554 | €7,139 | -€415 | -5.5% |
| Recurring financial charges | 65 | €7,554 | €7,139 | -€415 | -5.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €52,895 | €134,763 | +€81,867 | +154.8% |
| Income taxes | 67/77 | €18,395 | €44,451 | +€26,056 | +141.6% |
| Profit (loss) for the period | 9904 | €34,500 | €90,312 | +€55,811 | +161.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,500 | €90,312 | +€55,811 | +161.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.