CINCINNATUS: 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.
CINCINNATUS
Largest movements
- Receivables within one year +€14,691
up €14,691 (+29.4%), from €49,936 to €64,627
of which Trade receivables: +€21,762
- Cash -€2,512
down €2,512 (-12.8%), from €19,584 to €17,072
mainly Contributions, distributions and other (-€162,758) and Other debts (-€20,322)
- Tax, wage and social debts +€31,848
up €31,848 (+134.8%), from €23,626 to €55,474
- Other debts -€20,322
down €20,322 (-45.0%), from €45,174 to €24,852
- Gross operating margin +€38,020
up €38,020 (+24.8%), from €153,238 to €191,258
- Financial income -€16,418
down €16,418 (-42.7%), from €38,432 to €22,015
- Taxes +€9,827
up €9,827 (+25.0%), from €39,324 to €49,151
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 | €72,275 | €83,829 | +€11,554 | +16.0% |
| Fixed assets | 21/28 | €2,755 | €2,130 | -€625 | -22.7% |
| Tangible fixed assets | 22/27 | €1,255 | €630 | -€625 | -49.8% |
| Furniture and vehicles | 24 | €1,255 | €630 | -€625 | -49.8% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €69,520 | €81,699 | +€12,179 | +17.5% |
| Amounts receivable within one year | 40/41 | €49,936 | €64,627 | +€14,691 | +29.4% |
| Trade receivables | 40 | €42,860 | €64,622 | +€21,762 | +50.8% |
| Other amounts receivable | 41 | €7,076 | €5 | -€7,072 | -99.9% |
| Cash at bank and in hand | 54/58 | €19,584 | €17,072 | -€2,512 | -12.8% |
| Total equity and liabilities | 10/49 | €72,275 | €83,829 | +€11,554 | +16.0% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €69,275 | €80,829 | +€11,554 | +16.7% |
| Amounts payable within one year | 42/48 | €69,275 | €80,829 | +€11,554 | +16.7% |
| Trade debts | 44 | €475 | €503 | +€28 | +5.9% |
| Suppliers | 440/4 | €475 | €503 | +€28 | +5.9% |
| Taxes, remuneration and social security | 45 | €23,626 | €55,474 | +€31,848 | +134.8% |
| Taxes | 450/3 | €23,626 | €55,474 | +€31,848 | +134.8% |
| Other amounts payable | 47/48 | €45,174 | €24,852 | -€20,322 | -45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €931 | €625 | -€306 | -32.9% |
| Other operating charges | 640/8 | - | €682 | +€682 | |
| Gross operating margin | 9900 | €153,238 | €191,258 | +€38,020 | +24.8% |
| Operating profit (loss) | 9901 | €152,307 | €189,950 | +€37,644 | +24.7% |
| Financial income | 75/76B | €38,432 | €22,015 | -€16,418 | -42.7% |
| Recurring financial income | 75 | €38,432 | €22,015 | -€16,418 | -42.7% |
| Financial charges | 65/66B | €84 | €55 | -€29 | -34.1% |
| Recurring financial charges | 65 | €84 | €55 | -€29 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €190,655 | €211,910 | +€21,255 | +11.1% |
| Income taxes | 67/77 | €39,324 | €49,151 | +€9,827 | +25.0% |
| Profit (loss) for the period | 9904 | €151,331 | €162,758 | +€11,428 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €151,331 | €162,758 | +€11,428 | +7.6% |
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 29 September 2026 via checked.be.