CINQO: 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
CINQO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €626,248+€1.3m
Equity
€69.2m
2024 · €70.6m-€1.3m
Cash
€16.9m
2024 · €17.1m-€177,843
Balance sheet total
€72.7m
2024 · €71.5m+€1.2m
Largest movements
Assets
- Financial fixed assets +€2.0m
up €2.0m (+4.0%), from €49.2m to €51.2m
Equity and liabilities
- Other debts +€2.5m
up €2.5m (+288.0%), from €851,066 to €3.3m
- Reserves -€1.3m
down €1.3m (-1.9%), from €69.2m to €67.9m
of which Tax-exempt reserves: -€2.0m
Income statement
- Financial income +€1.3m
up €1.3m (+97.4%), from €1.3m to €2.5m
of which Financial income: +€1.7m
- Gross operating margin +€97,028
up €97,028 (+133.5%), from €72,660 to €169,688
- Taxes +€31,719
up €31,719 (+81.6%), from €38,870 to €70,588
- Other operating charges +€24,464
up €24,464 (+240.9%), from €10,155 to €34,619
- Staff costs -€17,878
down €17,878 (-78.6%), from €22,750 to €4,871
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.
Result 2024
€626,248
Gross operating margin
+€97,028
Staff costs
+€17,878
Depreciation
+€1,736
Other operating charges
-€24,464
Financial income
+€1.3m
Financial charges
-€799
Taxes
-€31,719
Result 2025
€1.9m
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.
From operations
+€5.1m
Investment
-€2.0m
Financing
-€3.3m
Cash 2024
€17.1m
From operations (derived)
+€5.1m
Net result for the year
+€1.9m
Depreciation
+€100,183
Receivables within one year
+€452,374
Deferred charges and accrued income
+€48,872
Smaller working-capital items
-€2,674
Tax, wage and social debts
+€66,881
Other debts
+€2.5m
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€2.0m
Financing
-€3.3m
Contributions, distributions and other
-€3.3m
Cash 2025
€16.9m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €71,528,402 | €72,702,905 | +€1.2m | +1.6% |
| Fixed assets | 21/28 | €52,712,103 | €54,565,695 | +€1.9m | +3.5% |
| Tangible fixed assets | 22/27 | €3,486,583 | €3,388,031 | -€98,551 | -2.8% |
| Land and buildings | 22 | €3,448,061 | €3,359,990 | -€88,071 | -2.6% |
| Plant, machinery and equipment | 23 | €3,717 | €3,920 | +€203 | +5.5% |
| Furniture and vehicles | 24 | €34,804 | €24,121 | -€10,683 | -30.7% |
| Financial fixed assets | 28 | €49,225,520 | €51,177,663 | +€2.0m | +4.0% |
| Current assets | 29/58 | €18,816,299 | €18,137,210 | -€679,089 | -3.6% |
| Amounts receivable within one year | 40/41 | €464,248 | €11,873 | -€452,374 | -97.4% |
| Trade receivables | 40 | €1,886 | €1,059 | -€827 | -43.9% |
| Other amounts receivable | 41 | €462,362 | €10,815 | -€451,548 | -97.7% |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,067,525 | €16,889,682 | -€177,843 | -1.0% |
| Deferred charges and accrued income | 490/1 | €284,526 | €235,654 | -€48,872 | -17.2% |
| Total equity and liabilities | 10/49 | €71,528,402 | €72,702,905 | +€1.2m | +1.6% |
| Equity | 10/15 | €70,571,459 | €69,231,082 | -€1.3m | -1.9% |
| Contributions | 10/11 | €1,330,000 | €1,330,000 | = | 0.0% |
| Capital | 10 | €1,330,000 | €1,330,000 | = | 0.0% |
| Issued capital | 100 | €1,330,000 | €1,330,000 | = | 0.0% |
| Reserves | 13 | €69,241,459 | €67,901,082 | -€1.3m | -1.9% |
| Non-distributable reserves | 130/1 | €133,000 | €133,000 | = | 0.0% |
| Legal reserve | 130 | €133,000 | €133,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,212,085 | €188,173 | -€2.0m | -91.5% |
| Distributable reserves | 133 | €66,896,374 | €67,579,909 | +€683,535 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €70,778 | €62,724 | -€8,054 | -11.4% |
| Deferred taxes | 168 | €70,778 | €62,724 | -€8,054 | -11.4% |
| Amounts payable | 17/49 | €886,164 | €3,409,098 | +€2.5m | +284.7% |
| Amounts payable within one year | 42/48 | €871,706 | €3,396,591 | +€2.5m | +289.6% |
| Trade debts | 44 | €6 | €7,339 | +€7,332 | +116570.4% |
| Suppliers | 440/4 | €6 | €7,339 | +€7,332 | +116570.4% |
| Taxes, remuneration and social security | 45 | €20,634 | €87,514 | +€66,881 | +324.1% |
| Taxes | 450/3 | €18,073 | €87,108 | +€69,035 | +382.0% |
| Remuneration and social security | 454/9 | €2,561 | €406 | -€2,154 | -84.1% |
| Other amounts payable | 47/48 | €851,066 | €3,301,738 | +€2.5m | +288.0% |
| Accrued charges and deferred income | 492/3 | €14,459 | €12,507 | -€1,952 | -13.5% |
| Non-recurring operating income | 76A | €296 | €0 | -€296 | -100.0% |
| Remuneration, social security and pensions | 62 | €22,750 | €4,871 | -€17,878 | -78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,919 | €100,183 | -€1,736 | -1.7% |
| Other operating charges | 640/8 | €10,155 | €34,619 | +€24,464 | +240.9% |
| Gross operating margin | 9900 | €72,660 | €169,688 | +€97,028 | +133.5% |
| Operating profit (loss) | 9901 | -€62,164 | €30,015 | +€92,179 | |
| Financial income | 75/76B | €1,292,039 | €2,549,891 | +€1.3m | +97.4% |
| Recurring financial income | 75 | €893,039 | €2,549,891 | +€1.7m | +185.5% |
| Non-recurring financial income | 76B | €399,000 | €0 | -€399,000 | -100.0% |
| Financial charges | 65/66B | €572,811 | €573,610 | +€799 | +0.1% |
| Recurring financial charges | 65 | €174,811 | €128,793 | -€46,018 | -26.3% |
| Non-recurring financial charges | 66B | €398,000 | €444,817 | +€46,817 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €657,064 | €2,006,296 | +€1.3m | +205.3% |
| Transfer from deferred taxes | 780 | €8,054 | €8,054 | = | 0.0% |
| Income taxes | 67/77 | €38,870 | €70,588 | +€31,719 | +81.6% |
| Profit (loss) for the period | 9904 | €626,248 | €1,943,762 | +€1.3m | +210.4% |
| Transfer from tax-exempt reserves | 789 | €24,162 | €2,023,912 | +€2.0m | +8276.4% |
| Profit (loss) for the period to be appropriated | 9905 | €650,410 | €3,967,674 | +€3.3m | +510.0% |
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 6 October 2026 via checked.be.