CIPHER BRAIN: what changed
Two financial 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.
CIPHER BRAIN
Largest movements
- Cash +€17,655
up €17,655 (+12.3%), from €143,990 to €161,646
mainly Net result for the year (+€25,115) and Tax, wage and social debts (+€2,868)
- Receivables within one year +€12,376
up €12,376 (+68.0%), from €18,203 to €30,580
of which Trade receivables: +€10,876
- Reserves +€24,000
up €24,000 (+23.3%), from €102,860 to €126,860
of which Non-distributable reserves: +€24,000
- Tax, wage and social debts +€2,868
up €2,868 (+26.1%), from €10,973 to €13,841
of which Remuneration and social security: +€3,612
- Gross operating margin -€10,198
down €10,198 (-21.6%), from €47,119 to €36,921
- Taxes -€1,905
down €1,905 (-15.6%), from €12,190 to €10,284
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €165,377 | €194,234 | +€28,857 | +17.4% |
| Fixed assets | 21/28 | €2,499 | €1,253 | -€1,246 | -49.8% |
| Tangible fixed assets | 22/27 | €2,499 | €1,253 | -€1,246 | -49.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €2,499 | €1,253 | -€1,246 | -49.8% |
| Current assets | 29/58 | €162,878 | €192,980 | +€30,102 | +18.5% |
| Amounts receivable within one year | 40/41 | €18,203 | €30,580 | +€12,376 | +68.0% |
| Trade receivables | 40 | €15,703 | €26,580 | +€10,876 | +69.3% |
| Other amounts receivable | 41 | €2,500 | €4,000 | +€1,500 | +60.0% |
| Cash at bank and in hand | 54/58 | €143,990 | €161,646 | +€17,655 | +12.3% |
| Deferred charges and accrued income | 490/1 | €685 | €755 | +€71 | +10.3% |
| Total equity and liabilities | 10/49 | €165,377 | €194,234 | +€28,857 | +17.4% |
| Equity | 10/15 | €153,265 | €178,381 | +€25,115 | +16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,860 | €126,860 | +€24,000 | +23.3% |
| Non-distributable reserves | 130/1 | €101,000 | €125,000 | +€24,000 | +23.8% |
| Own shares acquired | 1312 | €0 | - | = | |
| Other | 1319 | €101,000 | €125,000 | +€24,000 | +23.8% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,205 | €45,321 | +€1,115 | +2.5% |
| Amounts payable | 17/49 | €12,112 | €15,853 | +€3,741 | +30.9% |
| Amounts payable within one year | 42/48 | €12,112 | €15,853 | +€3,741 | +30.9% |
| Trade debts | 44 | €744 | €1,048 | +€304 | +40.8% |
| Suppliers | 440/4 | €744 | €1,048 | +€304 | +40.8% |
| Taxes, remuneration and social security | 45 | €10,973 | €13,841 | +€2,868 | +26.1% |
| Taxes | 450/3 | €10,973 | €10,228 | -€745 | -6.8% |
| Remuneration and social security | 454/9 | €0 | €3,612 | +€3,612 | |
| Other amounts payable | 47/48 | €394 | €964 | +€570 | +145% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,160 | €1,246 | +€85 | +7.3% |
| Other operating charges | 640/8 | €785 | €809 | +€24 | +3.1% |
| Gross operating margin | 9900 | €47,119 | €36,921 | -€10,198 | -21.6% |
| Operating profit (loss) | 9901 | €45,174 | €34,867 | -€10,308 | -22.8% |
| Financial income | 75/76B | €711 | €606 | -€105 | -14.8% |
| Recurring financial income | 75 | €711 | €606 | -€105 | -14.8% |
| Financial charges | 65/66B | €70 | €72 | +€2 | +3.2% |
| Recurring financial charges | 65 | €70 | €72 | +€2 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €45,815 | €35,400 | -€10,415 | -22.7% |
| Income taxes | 67/77 | €12,190 | €10,284 | -€1,905 | -15.6% |
| Profit (loss) for the period | 9904 | €33,625 | €25,115 | -€8,510 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,625 | €25,115 | -€8,510 | -25.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.