CINQ: 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.
CINQ
Largest movements
- Stocks and contracts +€17,031
up €17,031 (+15.2%), from €112,013 to €129,044
- Cash -€14,067
down €14,067 (-7.7%), from €182,518 to €168,451
mainly Trade debts (-€31,311) and Stocks and contracts (-€17,031)
- Receivables within one year -€12,070
down €12,070 (-49.8%), from €24,247 to €12,177
of which Trade receivables: -€10,024
- Tangible fixed assets -€8,011
down €8,011 (-29.6%), from €27,063 to €19,052
of which Furniture and vehicles: -€6,622
- Trade debts -€31,311
down €31,311 (-27.4%), from €114,215 to €82,904
- Tax, wage and social debts +€19,695
up €19,695 (+180%), from €10,962 to €30,657
of which Taxes: +€15,925
- Reserves +€18,000
up €18,000 (+24.3%), from €74,083 to €92,083
of which Distributable reserves: +€18,000
- Other debts -€16,967
down €16,967 (-50.2%), from €33,831 to €16,864
- Debts after one year -€6,352
down €6,352 (-74.7%), from €8,505 to €2,153
- Gross operating margin +€64,817
up €64,817 (+45.9%), from €141,236 to €206,053
- Staff costs +€31,490
up €31,490 (+31.1%), from €101,306 to €132,796
- Write-downs +€13,613
new in 2026: €13,613
- Taxes +€10,612
up €10,612 (+98.8%), from €10,738 to €21,350
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,792 | €335,160 | -€14,632 | -4.2% |
| Fixed assets | 21/28 | €27,063 | €19,052 | -€8,011 | -29.6% |
| Tangible fixed assets | 22/27 | €27,063 | €19,052 | -€8,011 | -29.6% |
| Plant, machinery and equipment | 23 | €2,617 | €1,976 | -€641 | -24.5% |
| Furniture and vehicles | 24 | €19,221 | €12,599 | -€6,622 | -34.5% |
| Other tangible fixed assets | 26 | €5,225 | €4,477 | -€748 | -14.3% |
| Current assets | 29/58 | €322,729 | €316,108 | -€6,621 | -2.1% |
| Stocks and contracts in progress | 3 | €112,013 | €129,044 | +€17,031 | +15.2% |
| Stocks | 30/36 | €112,013 | €129,044 | +€17,031 | +15.2% |
| Amounts receivable within one year | 40/41 | €24,247 | €12,177 | -€12,070 | -49.8% |
| Trade receivables | 40 | €22,037 | €12,013 | -€10,024 | -45.5% |
| Other amounts receivable | 41 | €2,210 | €165 | -€2,046 | -92.6% |
| Cash at bank and in hand | 54/58 | €182,518 | €168,451 | -€14,067 | -7.7% |
| Deferred charges and accrued income | 490/1 | €3,950 | €6,435 | +€2,485 | +62.9% |
| Total equity and liabilities | 10/49 | €349,792 | €335,160 | -€14,632 | -4.2% |
| Equity | 10/15 | €176,086 | €196,230 | +€20,144 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €74,083 | €92,083 | +€18,000 | +24.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €72,223 | €90,223 | +€18,000 | +24.9% |
| Profit (loss) carried forward | 14 | €83,403 | €85,547 | +€2,144 | +2.6% |
| Amounts payable | 17/49 | €173,706 | €138,930 | -€34,776 | -20.0% |
| Amounts payable after more than one year | 17 | €8,505 | €2,153 | -€6,352 | -74.7% |
| Financial debts | 170/4 | €8,505 | €2,153 | -€6,352 | -74.7% |
| Amounts payable within one year | 42/48 | €165,201 | €136,777 | -€28,424 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €6,193 | €6,352 | +€159 | +2.6% |
| Trade debts | 44 | €114,215 | €82,904 | -€31,311 | -27.4% |
| Suppliers | 440/4 | €114,215 | €82,904 | -€31,311 | -27.4% |
| Taxes, remuneration and social security | 45 | €10,962 | €30,657 | +€19,695 | +180% |
| Taxes | 450/3 | €5,936 | €21,861 | +€15,925 | +268% |
| Remuneration and social security | 454/9 | €5,027 | €8,796 | +€3,770 | +75.0% |
| Other amounts payable | 47/48 | €33,831 | €16,864 | -€16,967 | -50.2% |
| Remuneration, social security and pensions | 62 | €101,306 | €132,796 | +€31,490 | +31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,222 | €10,483 | +€261 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,613 | +€13,613 | |
| Other operating charges | 640/8 | €1,529 | €1,856 | +€327 | +21.4% |
| Gross operating margin | 9900 | €141,236 | €206,053 | +€64,817 | +45.9% |
| Operating profit (loss) | 9901 | €28,179 | €47,306 | +€19,127 | +67.9% |
| Financial income | 75/76B | €11,081 | €9,432 | -€1,648 | -14.9% |
| Recurring financial income | 75 | €11,081 | €9,432 | -€1,648 | -14.9% |
| Financial charges | 65/66B | €1,710 | €958 | -€752 | -44.0% |
| Recurring financial charges | 65 | €1,710 | €958 | -€752 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | €37,549 | €55,780 | +€18,231 | +48.6% |
| Income taxes | 67/77 | €10,738 | €21,350 | +€10,612 | +98.8% |
| Profit (loss) for the period | 9904 | €26,811 | €34,429 | +€7,618 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,811 | €34,429 | +€7,618 | +28.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.