CINECON: 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.
What changed
CINECON
NACE 64.210, Activities of holding companies
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€290,624
2023 · €297,216-€6,593
Equity
€17.2m
2023 · €16.9m+€290,624
Cash
€809,740
2023 · €1.0m-€208,282
Balance sheet total
€18.2m
2023 · €17.7m+€456,429
Largest movements
Assets
- Current investments +€506,028
up €506,028 (+6.0%), from €8.4m to €8.9m
- Financial fixed assets +€326,441
up €326,441 (+7.5%), from €4.4m to €4.7m
- Cash -€208,282
down €208,282 (-20.5%), from €1.0m to €809,740
mainly Current investments (-€506,028) and Investment in fixed assets (net) (-€362,995)
Equity and liabilities
- Other debts +€326,161
up €326,161 (+4666.1%), from €6,990 to €333,151
- Reserves +€290,624
up €290,624 (+7.9%), from €3.7m to €4.0m
of which Distributable reserves: +€291,740
Income statement
- Financial income +€53,846
up €53,846 (+19.3%), from €278,855 to €332,701
- Gross operating margin -€43,001
down €43,001 (-7.9%), from €541,665 to €498,664
- Write-downs +€37,290
new in 2024: €37,290
- Taxes +€29,846
up €29,846 (+33.2%), from €89,781 to €119,627
- Depreciation -€25,444
down €25,444 (-11.0%), from €232,170 to €206,726
From the 2023 result to the 2024 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 2023
€297,216
Gross operating margin
-€43,001
Depreciation
+€25,444
Write-downs
-€37,290
Other operating charges
-€3,358
Financial income
+€53,846
Financial charges
+€17,230
Taxes
-€29,846
Deferred taxes and other
+€10,383
Result 2024
€290,624
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€838,630
Investment
-€869,023
Financing
-€177,889
Cash 2023
€1.0m
From operations (derived)
+€838,630
Net result for the year
+€290,624
Depreciation
+€206,726
Receivables within one year
-€42,265
Deferred charges and accrued income
+€39,850
Provisions
-€372
Trade debts
-€3,511
Tax, wage and social debts
+€5,175
Advances received
+€10,481
Other debts
+€326,161
Accrued charges and deferred income
+€5,760
Investment (derived)
-€869,023
Investment in fixed assets (net)
-€362,995
Current investments
-€506,028
Financing
-€177,889
Debts after one year
-€179,760
Current portion of long-term debt
+€1,871
Cash 2024
€809,740
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,749,064 | €18,205,493 | +€456,429 | +2.6% |
| Fixed assets | 21/28 | €8,106,289 | €8,262,557 | +€156,268 | +1.9% |
| Tangible fixed assets | 22/27 | €3,744,164 | €3,573,991 | -€170,173 | -4.5% |
| Land and buildings | 22 | €3,630,735 | €3,466,993 | -€163,742 | -4.5% |
| Plant, machinery and equipment | 23 | €10,724 | €15,377 | +€4,652 | +43.4% |
| Furniture and vehicles | 24 | €92,761 | €83,486 | -€9,275 | -10.0% |
| Other tangible fixed assets | 26 | €9,944 | €8,135 | -€1,809 | -18.2% |
| Financial fixed assets | 28 | €4,362,125 | €4,688,566 | +€326,441 | +7.5% |
| Current assets | 29/58 | €9,642,775 | €9,942,936 | +€300,161 | +3.1% |
| Amounts receivable within one year | 40/41 | €186,240 | €228,504 | +€42,265 | +22.7% |
| Trade receivables | 40 | €166,371 | €200,456 | +€34,086 | +20.5% |
| Other amounts receivable | 41 | €19,869 | €28,048 | +€8,179 | +41.2% |
| Current investments | 50/53 | €8,398,377 | €8,904,405 | +€506,028 | +6.0% |
| Cash at bank and in hand | 54/58 | €1,018,022 | €809,740 | -€208,282 | -20.5% |
| Deferred charges and accrued income | 490/1 | €40,137 | €287 | -€39,850 | -99.3% |
| Total equity and liabilities | 10/49 | €17,749,064 | €18,205,493 | +€456,429 | +2.6% |
| Equity | 10/15 | €16,885,827 | €17,176,451 | +€290,624 | +1.7% |
| Contributions | 10/11 | €13,193,535 | €13,193,535 | = | 0.0% |
| Reserves | 13 | €3,692,292 | €3,982,916 | +€290,624 | +7.9% |
| Non-distributable reserves | 130/1 | €1,320,594 | €1,320,594 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,320,594 | €1,320,594 | = | 0.0% |
| Tax-exempt reserves | 132 | €31,090 | €29,973 | -€1,117 | -3.6% |
| Distributable reserves | 133 | €2,340,608 | €2,632,349 | +€291,740 | +12.5% |
| Provisions and deferred taxes | 16 | €10,011 | €9,638 | -€372 | -3.7% |
| Deferred taxes | 168 | €10,011 | €9,638 | -€372 | -3.7% |
| Amounts payable | 17/49 | €853,226 | €1,019,404 | +€166,178 | +19.5% |
| Amounts payable after more than one year | 17 | €565,582 | €385,822 | -€179,760 | -31.8% |
| Financial debts | 170/4 | €565,582 | €385,822 | -€179,760 | -31.8% |
| Amounts payable within one year | 42/48 | €287,644 | €627,822 | +€340,177 | +118.3% |
| Current portion of amounts payable after more than one year | 42 | €181,500 | €183,371 | +€1,871 | +1.0% |
| Trade debts | 44 | €25,216 | €21,705 | -€3,511 | -13.9% |
| Suppliers | 440/4 | €25,216 | €21,705 | -€3,511 | -13.9% |
| Advances received on contracts in progress | 46 | €7,687 | €18,168 | +€10,481 | +136.3% |
| Taxes, remuneration and social security | 45 | €66,251 | €71,426 | +€5,175 | +7.8% |
| Taxes | 450/3 | €66,251 | €71,426 | +€5,175 | +7.8% |
| Other amounts payable | 47/48 | €6,990 | €333,151 | +€326,161 | +4666.1% |
| Accrued charges and deferred income | 492/3 | - | €5,760 | +€5,760 | |
| Non-recurring operating income | 76A | €41,532 | - | -€41,532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,170 | €206,726 | -€25,444 | -11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €37,290 | +€37,290 | |
| Other operating charges | 640/8 | €42,669 | €46,027 | +€3,358 | +7.9% |
| Gross operating margin | 9900 | €541,665 | €498,664 | -€43,001 | -7.9% |
| Operating profit (loss) | 9901 | €266,826 | €208,621 | -€58,205 | -21.8% |
| Financial income | 75/76B | €278,855 | €332,701 | +€53,846 | +19.3% |
| Recurring financial income | 75 | €278,855 | €332,701 | +€53,846 | +19.3% |
| Financial charges | 65/66B | €148,673 | €131,444 | -€17,230 | -11.6% |
| Recurring financial charges | 65 | €148,673 | €131,444 | -€17,230 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €397,008 | €409,879 | +€12,871 | +3.2% |
| Transfer from deferred taxes | 780 | €372 | €372 | = | 0.0% |
| Transfer to deferred taxes | 680 | €10,383 | - | -€10,383 | |
| Income taxes | 67/77 | €89,781 | €119,627 | +€29,846 | +33.2% |
| Profit (loss) for the period | 9904 | €297,216 | €290,624 | -€6,593 | -2.2% |
| Transfer from tax-exempt reserves | 789 | €1,117 | €1,117 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €31,149 | - | -€31,149 | |
| Profit (loss) for the period to be appropriated | 9905 | €267,184 | €291,740 | +€24,556 | +9.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.