CIOLA: 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.
CIOLA
Largest movements
- Tangible fixed assets -€29,417
down €29,417 (-6.5%), from €450,419 to €421,002
of which Furniture and vehicles: -€15,364
- Current investments +€12,000
up €12,000 (+15.4%), from €78,093 to €90,093
- Cash -€6,313
down €6,313 (-26.5%), from €23,859 to €17,546
mainly Other debts (-€36,241) and Debts after one year (-€30,893)
- Reserves +€41,755
up €41,755 (+41.7%), from €100,160 to €141,915
of which Distributable reserves: +€41,755
- Other debts -€36,241
down €36,241 (-32.9%), from €110,112 to €73,871
- Debts after one year -€30,893
down €30,893 (-18.1%), from €171,074 to €140,181
- Gross operating margin +€1,583
up €1,583 (+1.4%), from €110,700 to €112,283
- Financial charges -€1,432
down €1,432 (-20.6%), from €6,937 to €5,505
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 | €557,743 | €531,942 | -€25,801 | -4.6% |
| Fixed assets | 21/28 | €450,419 | €421,002 | -€29,417 | -6.5% |
| Tangible fixed assets | 22/27 | €450,419 | €421,002 | -€29,417 | -6.5% |
| Land and buildings | 22 | €363,946 | €351,864 | -€12,082 | -3.3% |
| Plant, machinery and equipment | 23 | €35,175 | €33,204 | -€1,971 | -5.6% |
| Furniture and vehicles | 24 | €51,298 | €35,934 | -€15,364 | -30.0% |
| Current assets | 29/58 | €107,324 | €110,940 | +€3,616 | +3.4% |
| Amounts receivable within one year | 40/41 | €5,102 | €2,078 | -€3,024 | -59.3% |
| Trade receivables | 40 | €5,102 | €2,078 | -€3,024 | -59.3% |
| Current investments | 50/53 | €78,093 | €90,093 | +€12,000 | +15.4% |
| Cash at bank and in hand | 54/58 | €23,859 | €17,546 | -€6,313 | -26.5% |
| Deferred charges and accrued income | 490/1 | €270 | €1,224 | +€954 | +353.2% |
| Total equity and liabilities | 10/49 | €557,743 | €531,942 | -€25,801 | -4.6% |
| Equity | 10/15 | €227,922 | €269,678 | +€41,756 | +18.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €100,160 | €141,915 | +€41,755 | +41.7% |
| Tax-exempt reserves | 132 | €10,300 | €10,300 | = | 0.0% |
| Distributable reserves | 133 | €89,860 | €131,615 | +€41,755 | +46.5% |
| Profit (loss) carried forward | 14 | €121,562 | €121,563 | +€1 | 0.0% |
| Amounts payable | 17/49 | €329,821 | €262,264 | -€67,557 | -20.5% |
| Amounts payable after more than one year | 17 | €171,074 | €140,181 | -€30,893 | -18.1% |
| Financial debts | 170/4 | €171,074 | €140,181 | -€30,893 | -18.1% |
| Amounts payable within one year | 42/48 | €158,746 | €122,083 | -€36,663 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €46,106 | €41,568 | -€4,538 | -9.8% |
| Financial debts | 43 | - | €3,039 | +€3,039 | |
| Credit institutions | 430/8 | - | €3,039 | +€3,039 | |
| Trade debts | 44 | - | €341 | +€341 | |
| Suppliers | 440/4 | - | €341 | +€341 | |
| Taxes, remuneration and social security | 45 | €2,528 | €3,264 | +€736 | +29.1% |
| Taxes | 450/3 | €2,528 | €2,364 | -€164 | -6.5% |
| Remuneration and social security | 454/9 | - | €900 | +€900 | |
| Other amounts payable | 47/48 | €110,112 | €73,871 | -€36,241 | -32.9% |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,681 | €41,142 | +€461 | +1.1% |
| Other operating charges | 640/8 | €3,689 | €3,579 | -€110 | -3.0% |
| Gross operating margin | 9900 | €110,700 | €112,283 | +€1,583 | +1.4% |
| Operating profit (loss) | 9901 | €66,330 | €67,562 | +€1,232 | +1.9% |
| Financial income | 75/76B | €179 | €84 | -€95 | -53.0% |
| Recurring financial income | 75 | €179 | €84 | -€95 | -53.0% |
| Financial charges | 65/66B | €6,937 | €5,505 | -€1,432 | -20.6% |
| Recurring financial charges | 65 | €6,937 | €5,505 | -€1,432 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €59,572 | €62,141 | +€2,569 | +4.3% |
| Income taxes | 67/77 | €20,529 | €20,386 | -€143 | -0.7% |
| Profit (loss) for the period | 9904 | €39,043 | €41,755 | +€2,712 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,043 | €41,755 | +€2,712 | +6.9% |
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 4 October 2026 via checked.be.