Ciparo: 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.
Ciparo
Largest movements
- Current investments +€128,260
up €128,260 (+85.5%), from €150,000 to €278,260
- Receivables within one year +€47,692
up €47,692 (+349.2%), from €13,659 to €61,350
of which Other amounts receivable: +€47,826
- Receivables after one year -€30,000
down €30,000 (-19.2%), from €156,040 to €126,040
of which Other amounts receivable: -€30,000
- Cash +€13,037
up €13,037 (+146.2%), from €8,914 to €21,951
mainly Net result for the year (+€140,766) and Other debts (+€140,766)
- Tangible fixed assets -€11,428
down €11,428 (-19.8%), from €57,642 to €46,214
- Other debts +€140,766
up €140,766, from €0 to €140,766
- Tax, wage and social debts +€6,781
up €6,781 (+56.6%), from €11,986 to €18,767
of which Taxes: +€5,356
- Gross operating margin +€54,445
up €54,445 (+32.8%), from €165,851 to €220,296
- Taxes +€13,437
up €13,437 (+44.6%), from €30,158 to €43,595
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 | €394,956 | €541,875 | +€146,919 | +37.2% |
| Fixed assets | 21/28 | €57,642 | €46,214 | -€11,428 | -19.8% |
| Tangible fixed assets | 22/27 | €57,642 | €46,214 | -€11,428 | -19.8% |
| Plant, machinery and equipment | 23 | €9,920 | €4,922 | -€4,997 | -50.4% |
| Furniture and vehicles | 24 | €36,561 | €31,037 | -€5,523 | -15.1% |
| Other tangible fixed assets | 26 | €11,162 | €10,254 | -€908 | -8.1% |
| Current assets | 29/58 | €337,313 | €495,661 | +€158,347 | +46.9% |
| Amounts receivable after more than one year | 29 | €156,040 | €126,040 | -€30,000 | -19.2% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €156,040 | €126,040 | -€30,000 | -19.2% |
| Amounts receivable within one year | 40/41 | €13,659 | €61,350 | +€47,692 | +349.2% |
| Trade receivables | 40 | €146 | €12 | -€134 | -91.7% |
| Other amounts receivable | 41 | €13,513 | €61,338 | +€47,826 | +353.9% |
| Current investments | 50/53 | €150,000 | €278,260 | +€128,260 | +85.5% |
| Cash at bank and in hand | 54/58 | €8,914 | €21,951 | +€13,037 | +146.2% |
| Deferred charges and accrued income | 490/1 | €8,700 | €8,059 | -€641 | -7.4% |
| Total equity and liabilities | 10/49 | €394,956 | €541,875 | +€146,919 | +37.2% |
| Equity | 10/15 | €373,746 | €373,746 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €355,146 | €355,146 | = | 0.0% |
| Distributable reserves | 133 | €355,146 | €355,146 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,210 | €168,129 | +€146,919 | +692.7% |
| Amounts payable within one year | 42/48 | €21,210 | €168,101 | +€146,892 | +692.6% |
| Financial debts | 43 | - | €1,852 | +€1,852 | |
| Credit institutions | 430/8 | - | €1,852 | +€1,852 | |
| Trade debts | 44 | €9,223 | €6,716 | -€2,507 | -27.2% |
| Suppliers | 440/4 | €9,223 | €6,716 | -€2,507 | -27.2% |
| Taxes, remuneration and social security | 45 | €11,986 | €18,767 | +€6,781 | +56.6% |
| Taxes | 450/3 | €8,695 | €14,052 | +€5,356 | +61.6% |
| Remuneration and social security | 454/9 | €3,291 | €4,716 | +€1,425 | +43.3% |
| Other amounts payable | 47/48 | €0 | €140,766 | +€140,766 | |
| Accrued charges and deferred income | 492/3 | - | €28 | +€28 | |
| Remuneration, social security and pensions | 62 | €22,302 | €24,366 | +€2,064 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,011 | €11,428 | -€583 | -4.9% |
| Other operating charges | 640/8 | €693 | €984 | +€292 | +42.1% |
| Gross operating margin | 9900 | €165,851 | €220,296 | +€54,445 | +32.8% |
| Operating profit (loss) | 9901 | €130,845 | €183,517 | +€52,672 | +40.3% |
| Financial income | 75/76B | €922 | €1,959 | +€1,036 | +112.4% |
| Recurring financial income | 75 | €922 | €1,959 | +€1,036 | +112.4% |
| Financial charges | 65/66B | €943 | €1,115 | +€172 | +18.3% |
| Recurring financial charges | 65 | €943 | €1,115 | +€172 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | €130,825 | €184,361 | +€53,536 | +40.9% |
| Income taxes | 67/77 | €30,158 | €43,595 | +€13,437 | +44.6% |
| Profit (loss) for the period | 9904 | €100,667 | €140,766 | +€40,099 | +39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €100,667 | €140,766 | +€40,099 | +39.8% |
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 8 October 2026 via checked.be.