CINICO: 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.
CINICO
Largest movements
- Tangible fixed assets -€150,000
down €150,000 (-12.5%), from €1.2m to €1.1m
- Cash -€13,800
down €13,800 (-76.2%), from €18,106 to €4,306
mainly Debts after one year (-€103,475) and Other debts (-€65,490)
- Debts after one year -€103,475
down €103,475 (-10.7%), from €967,619 to €864,144
- Other debts -€65,490
down €65,490 (-92.9%), from €70,490 to €5,000
- Trade debts +€19,665
new in 2025: €19,665
- Gross operating margin -€15,325
down €15,325 (-6.9%), from €223,596 to €208,271
- Financial charges +€12,180
up €12,180 (+29.6%), from €41,200 to €53,380
- Taxes -€5,630
down €5,630 (-96.8%), from €5,815 to €185
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 | €1,298,106 | €1,131,115 | -€166,991 | -12.9% |
| Fixed assets | 21/28 | €1,200,000 | €1,050,000 | -€150,000 | -12.5% |
| Tangible fixed assets | 22/27 | €1,200,000 | €1,050,000 | -€150,000 | -12.5% |
| Land and buildings | 22 | €1,200,000 | €1,050,000 | -€150,000 | -12.5% |
| Current assets | 29/58 | €98,106 | €81,115 | -€16,991 | -17.3% |
| Amounts receivable within one year | 40/41 | €80,000 | €76,809 | -€3,191 | -4.0% |
| Other amounts receivable | 41 | €80,000 | €76,809 | -€3,191 | -4.0% |
| Cash at bank and in hand | 54/58 | €18,106 | €4,306 | -€13,800 | -76.2% |
| Total equity and liabilities | 10/49 | €1,298,106 | €1,131,115 | -€166,991 | -12.9% |
| Equity | 10/15 | €148,222 | €134,498 | -€13,724 | -9.3% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Outside capital | 11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Share premium | 1100/10 | - | €20,460 | +€20,460 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €47,427 | €41,291 | -€6,136 | -12.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €14,902 | €10,626 | -€4,276 | -28.7% |
| Distributable reserves | 133 | €30,665 | €30,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,195 | €72,747 | -€9,448 | -11.5% |
| Provisions and deferred taxes | 16 | €4,536 | €2,333 | -€2,203 | -48.6% |
| Deferred taxes | 168 | €4,536 | €2,333 | -€2,203 | -48.6% |
| Amounts payable | 17/49 | €1,145,348 | €994,284 | -€151,064 | -13.2% |
| Amounts payable after more than one year | 17 | €967,619 | €864,144 | -€103,475 | -10.7% |
| Financial debts | 170/4 | €967,619 | €864,144 | -€103,475 | -10.7% |
| Amounts payable within one year | 42/48 | €177,729 | €130,140 | -€47,589 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €101,424 | €105,475 | +€4,051 | +4.0% |
| Trade debts | 44 | - | €19,665 | +€19,665 | |
| Suppliers | 440/4 | - | €19,665 | +€19,665 | |
| Taxes, remuneration and social security | 45 | €5,815 | - | -€5,815 | |
| Remuneration and social security | 454/9 | €5,815 | - | -€5,815 | |
| Other amounts payable | 47/48 | €70,490 | €5,000 | -€65,490 | -92.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,000 | €150,000 | = | 0.0% |
| Other operating charges | 640/8 | €18,735 | €20,633 | +€1,898 | +10.1% |
| Gross operating margin | 9900 | €223,596 | €208,271 | -€15,325 | -6.9% |
| Operating profit (loss) | 9901 | €54,861 | €37,638 | -€17,223 | -31.4% |
| Financial income | 75/76B | €1,340 | - | -€1,340 | |
| Recurring financial income | 75 | €1,340 | - | -€1,340 | |
| Financial charges | 65/66B | €41,200 | €53,380 | +€12,180 | +29.6% |
| Recurring financial charges | 65 | €41,200 | €53,380 | +€12,180 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €15,001 | -€15,742 | -€30,743 | |
| Transfer from deferred taxes | 780 | €2,203 | €2,203 | = | 0.0% |
| Income taxes | 67/77 | €5,815 | €185 | -€5,630 | -96.8% |
| Profit (loss) for the period | 9904 | €11,389 | -€13,724 | -€25,113 | |
| Transfer from tax-exempt reserves | 789 | €4,276 | €4,276 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,665 | -€9,448 | -€25,113 |
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 29 September 2026 via checked.be.