CINQ - INVEST: what changed
What changed
CINQ - INVEST
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
-€174,649
2024 · -€150,816-€23,833
Equity
-€1.3m
2024 · -€1.1m-€174,649
Cash
€112,747
2024 · €18,022+€94,725
Balance sheet total
€6.6m
2024 · €6.9m-€270,663
Largest movements
Assets
- Receivables within one year -€482,402
down €482,402 (-56.1%), from €860,625 to €378,223
of which Other amounts receivable: -€463,993
- Deferred charges and accrued income +€181,679
up €181,679 (+68.6%), from €264,997 to €446,675
- Cash +€94,725
up €94,725 (+526%), from €18,022 to €112,747
mainly Receivables within one year (+€482,402) and Accrued charges and deferred income (+€329,535)
Equity and liabilities
- Accrued charges and deferred income +€329,535
up €329,535 (+51.6%), from €638,794 to €968,329
- Tax, wage and social debts -€318,443
down €318,443 (-92.5%), from €344,144 to €25,701
of which Taxes: -€328,335
- Profit (loss) carried forward -€174,649
down €174,649 (-12.0%), from -€1.5m to -€1.6m
- Trade debts -€103,063
down €103,063 (-91.1%), from €113,169 to €10,106
Income statement
- Gross operating margin -€70,428
down €70,428 (-15.9%), from €443,575 to €373,147
- Staff costs -€49,569
down €49,569 (-22.0%), from €225,656 to €176,087
- Financial income +€21,773
up €21,773 (+22.1%), from €98,362 to €120,134
- Financial charges +€17,817
up €17,817 (+6.5%), from €272,394 to €290,211
- Taxes -€12,260
down €12,260 (-77.4%), from €15,846 to €3,585
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€150,816
Gross operating margin
-€70,428
Staff costs
+€49,569
Depreciation
-€8,884
Write-downs
-€175
Other operating charges
-€10,131
Financial income
+€21,773
Financial charges
-€17,817
Taxes
+€12,260
Result 2025
-€174,649
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€234,208
Investment
-€71,134
Financing
-€68,348
Cash 2024
€18,022
From operations (derived)
+€234,208
Net result for the year
-€174,649
Depreciation
+€135,799
Receivables within one year
+€482,402
Deferred charges and accrued income
-€181,679
Trade debts
-€103,063
Tax, wage and social debts
-€318,443
Advances received
+€64,306
Accrued charges and deferred income
+€329,535
Investment (derived)
-€71,134
Investment in fixed assets (net)
-€71,134
Financing
-€68,348
Debts after one year
-€57,670
Current portion of long-term debt
-€10,678
Cash 2025
€112,747
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,859,206 | €6,588,543 | -€270,663 | -3.9% |
| Fixed assets | 21/28 | €5,715,562 | €5,650,897 | -€64,665 | -1.1% |
| Intangible fixed assets | 21 | €2,989 | €1,904 | -€1,085 | -36.3% |
| Tangible fixed assets | 22/27 | €2,237,002 | €2,173,422 | -€63,580 | -2.8% |
| Land and buildings | 22 | €2,089,657 | €1,980,688 | -€108,969 | -5.2% |
| Plant, machinery and equipment | 23 | €39,625 | €28,993 | -€10,632 | -26.8% |
| Furniture and vehicles | 24 | €439 | €1,522 | +€1,083 | +247% |
| Assets under construction and advance payments | 27 | €107,282 | €162,220 | +€54,938 | +51.2% |
| Financial fixed assets | 28 | €3,475,571 | €3,475,571 | = | 0.0% |
| Current assets | 29/58 | €1,143,643 | €937,646 | -€205,998 | -18.0% |
| Amounts receivable within one year | 40/41 | €860,625 | €378,223 | -€482,402 | -56.1% |
| Trade receivables | 40 | €21,845 | €3,437 | -€18,408 | -84.3% |
| Other amounts receivable | 41 | €838,780 | €374,786 | -€463,993 | -55.3% |
| Cash at bank and in hand | 54/58 | €18,022 | €112,747 | +€94,725 | +526% |
| Deferred charges and accrued income | 490/1 | €264,997 | €446,675 | +€181,679 | +68.6% |
| Total equity and liabilities | 10/49 | €6,859,206 | €6,588,543 | -€270,663 | -3.9% |
| Equity | 10/15 | -€1,093,244 | -€1,267,892 | -€174,649 | -16.0% |
| Contributions | 10/11 | €333,380 | €333,380 | = | 0.0% |
| Capital | 10 | €333,380 | €333,380 | = | 0.0% |
| Issued capital | 100 | €333,380 | €333,380 | = | 0.0% |
| Reserves | 13 | €33,338 | €33,338 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,338 | €33,338 | = | 0.0% |
| Legal reserve | 130 | €33,338 | €33,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,459,962 | -€1,634,610 | -€174,649 | -12.0% |
| Amounts payable | 17/49 | €7,952,450 | €7,856,435 | -€96,014 | -1.2% |
| Amounts payable after more than one year | 17 | €6,787,994 | €6,730,324 | -€57,670 | -0.8% |
| Financial debts | 170/4 | €6,787,994 | €6,730,324 | -€57,670 | -0.8% |
| Amounts payable within one year | 42/48 | €525,661 | €157,782 | -€367,879 | -70.0% |
| Current portion of amounts payable after more than one year | 42 | €68,348 | €57,670 | -€10,678 | -15.6% |
| Trade debts | 44 | €113,169 | €10,106 | -€103,063 | -91.1% |
| Suppliers | 440/4 | €113,169 | €10,106 | -€103,063 | -91.1% |
| Advances received on contracts in progress | 46 | - | €64,306 | +€64,306 | |
| Taxes, remuneration and social security | 45 | €344,144 | €25,701 | -€318,443 | -92.5% |
| Taxes | 450/3 | €328,740 | €405 | -€328,335 | -99.9% |
| Remuneration and social security | 454/9 | €15,404 | €25,296 | +€9,892 | +64.2% |
| Accrued charges and deferred income | 492/3 | €638,794 | €968,329 | +€329,535 | +51.6% |
| Non-recurring operating income | 76A | - | €2,755 | +€2,755 | |
| Remuneration, social security and pensions | 62 | €225,656 | €176,087 | -€49,569 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,915 | €135,799 | +€8,884 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€175 | €0 | +€175 | |
| Other operating charges | 640/8 | €52,117 | €62,247 | +€10,131 | +19.4% |
| Gross operating margin | 9900 | €443,575 | €373,147 | -€70,428 | -15.9% |
| Operating profit (loss) | 9901 | €39,063 | -€986 | -€40,049 | |
| Financial income | 75/76B | €98,362 | €120,134 | +€21,773 | +22.1% |
| Recurring financial income | 75 | €98,362 | €120,134 | +€21,773 | +22.1% |
| Financial charges | 65/66B | €272,394 | €290,211 | +€17,817 | +6.5% |
| Recurring financial charges | 65 | €272,394 | €290,211 | +€17,817 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | -€134,970 | -€171,063 | -€36,094 | -26.7% |
| Income taxes | 67/77 | €15,846 | €3,585 | -€12,260 | -77.4% |
| Profit (loss) for the period | 9904 | -€150,816 | -€174,649 | -€23,833 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€150,816 | -€174,649 | -€23,833 | -15.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.