CINQUE TERRE: 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.
CINQUE TERRE
Largest movements
- Cash -€50,950
down €50,950 (-42.9%), from €118,633 to €67,682
mainly Contributions, distributions and other (-€79,213) and Tax, wage and social debts (-€35,977)
- Receivables within one year -€20,379
down €20,379 (-41.5%), from €49,066 to €28,687
of which Other amounts receivable: -€26,586
- Stocks and contracts -€4,008
down €4,008 (-32.8%), from €12,236 to €8,229
- Tax, wage and social debts -€35,977
down €35,977 (-55.9%), from €64,333 to €28,356
of which Taxes: -€39,208
- Reserves -€29,832
down €29,832 (-71.0%), from €42,046 to €12,213
- Trade debts -€18,116
down €18,116 (-35.2%), from €51,454 to €33,338
- Other debts +€10,552
up €10,552 (+11.1%), from €94,871 to €105,423
- Debts after one year -€4,685
down €4,685 (-31.0%), from €15,122 to €10,437
- Gross operating margin -€24,371
down €24,371 (-8.0%), from €302,996 to €278,625
- Staff costs +€12,917
up €12,917 (+7.2%), from €180,196 to €193,113
- Taxes -€10,221
down €10,221 (-39.3%), from €26,012 to €15,791
- Depreciation +€4,485
up €4,485 (+33.1%), from €13,566 to €18,051
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 | €290,910 | €213,051 | -€77,859 | -26.8% |
| Fixed assets | 21/28 | €104,917 | €102,785 | -€2,132 | -2.0% |
| Tangible fixed assets | 22/27 | €101,866 | €99,566 | -€2,301 | -2.3% |
| Plant, machinery and equipment | 23 | €1,769 | €4,904 | +€3,135 | +177.3% |
| Furniture and vehicles | 24 | €11,703 | €12,617 | +€914 | +7.8% |
| Other tangible fixed assets | 26 | €88,395 | €82,045 | -€6,350 | -7.2% |
| Financial fixed assets | 28 | €3,051 | €3,219 | +€169 | +5.5% |
| Current assets | 29/58 | €185,993 | €110,266 | -€75,727 | -40.7% |
| Stocks and contracts in progress | 3 | €12,236 | €8,229 | -€4,008 | -32.8% |
| Stocks | 30/36 | €12,236 | €8,229 | -€4,008 | -32.8% |
| Amounts receivable within one year | 40/41 | €49,066 | €28,687 | -€20,379 | -41.5% |
| Trade receivables | 40 | €19,834 | €26,041 | +€6,207 | +31.3% |
| Other amounts receivable | 41 | €29,232 | €2,646 | -€26,586 | -90.9% |
| Cash at bank and in hand | 54/58 | €118,633 | €67,682 | -€50,950 | -42.9% |
| Deferred charges and accrued income | 490/1 | €6,058 | €5,668 | -€390 | -6.4% |
| Total equity and liabilities | 10/49 | €290,910 | €213,051 | -€77,859 | -26.8% |
| Equity | 10/15 | €60,646 | €30,813 | -€29,832 | -49.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,046 | €12,213 | -€29,832 | -71.0% |
| Distributable reserves | 133 | €42,046 | €12,213 | -€29,832 | -71.0% |
| Amounts payable | 17/49 | €230,265 | €182,238 | -€48,027 | -20.9% |
| Amounts payable after more than one year | 17 | €15,122 | €10,437 | -€4,685 | -31.0% |
| Financial debts | 170/4 | €15,122 | €10,437 | -€4,685 | -31.0% |
| Amounts payable within one year | 42/48 | €215,143 | €171,801 | -€43,342 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €4,486 | €4,685 | +€199 | +4.4% |
| Trade debts | 44 | €51,454 | €33,338 | -€18,116 | -35.2% |
| Suppliers | 440/4 | €51,454 | €33,338 | -€18,116 | -35.2% |
| Taxes, remuneration and social security | 45 | €64,333 | €28,356 | -€35,977 | -55.9% |
| Taxes | 450/3 | €53,448 | €14,240 | -€39,208 | -73.4% |
| Remuneration and social security | 454/9 | €10,884 | €14,115 | +€3,231 | +29.7% |
| Other amounts payable | 47/48 | €94,871 | €105,423 | +€10,552 | +11.1% |
| Remuneration, social security and pensions | 62 | €180,196 | €193,113 | +€12,917 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,566 | €18,051 | +€4,485 | +33.1% |
| Other operating charges | 640/8 | €1,149 | €763 | -€385 | -33.5% |
| Non-recurring operating charges | 66A | €1,092 | - | -€1,092 | |
| Gross operating margin | 9900 | €302,996 | €278,625 | -€24,371 | -8.0% |
| Operating profit (loss) | 9901 | €106,995 | €66,699 | -€40,296 | -37.7% |
| Financial income | 75/76B | €886 | €1,623 | +€737 | +83.3% |
| Recurring financial income | 75 | €886 | €1,623 | +€737 | +83.3% |
| Financial charges | 65/66B | €3,319 | €3,150 | -€169 | -5.1% |
| Recurring financial charges | 65 | €3,274 | €3,140 | -€134 | -4.1% |
| Non-recurring financial charges | 66B | €45 | €10 | -€35 | -77.7% |
| Profit (loss) for the period before taxes | 9903 | €104,561 | €65,171 | -€39,390 | -37.7% |
| Income taxes | 67/77 | €26,012 | €15,791 | -€10,221 | -39.3% |
| Profit (loss) for the period | 9904 | €78,549 | €49,381 | -€29,169 | -37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €78,549 | €49,381 | -€29,169 | -37.1% |
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 3 October 2026 via checked.be.