CiPiaCe: 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.
CiPiaCe
Largest movements
- Cash -€143,200
down €143,200 (-75.9%), from €188,757 to €45,558
mainly Other debts (-€126,182) and Net result for the year (-€15,345)
- Tangible fixed assets -€19,110
down €19,110 (-39.9%), from €47,904 to €28,794
of which Furniture and vehicles: -€12,510
- Receivables within one year +€3,449
up €3,449 (+98.0%), from €3,519 to €6,968
of which Trade receivables: +€1,807
- Other debts -€126,182
down €126,182 (-95.4%), from €132,328 to €6,146
- Profit (loss) carried forward -€15,345
down €15,345, from €9,448 to -€5,897
- Debts after one year -€9,445
down €9,445 (-70.3%), from €13,437 to €3,992
- Tax, wage and social debts -€5,668
down €5,668 (-8.6%), from €65,812 to €60,144
of which Taxes: -€16,806
- Trade debts -€4,560
down €4,560 (-19.3%), from €23,584 to €19,024
- Staff costs +€77,194
up €77,194 (+22.4%), from €344,812 to €422,006
- Gross operating margin +€55,446
up €55,446 (+14.7%), from €377,324 to €432,770
- Taxes -€5,513
down €5,513, from €5,402 to -€111
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 | €276,757 | €117,431 | -€159,326 | -57.6% |
| Fixed assets | 21/28 | €55,220 | €36,110 | -€19,110 | -34.6% |
| Tangible fixed assets | 22/27 | €47,904 | €28,794 | -€19,110 | -39.9% |
| Plant, machinery and equipment | 23 | €5,705 | €3,942 | -€1,763 | -30.9% |
| Furniture and vehicles | 24 | €28,717 | €16,207 | -€12,510 | -43.6% |
| Other tangible fixed assets | 26 | €13,482 | €8,644 | -€4,837 | -35.9% |
| Financial fixed assets | 28 | €7,316 | €7,316 | = | 0.0% |
| Current assets | 29/58 | €221,537 | €81,321 | -€140,216 | -63.3% |
| Stocks and contracts in progress | 3 | €12,897 | €12,897 | = | 0.0% |
| Stocks | 30/36 | €12,897 | €12,897 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,519 | €6,968 | +€3,449 | +98.0% |
| Trade receivables | 40 | €43 | €1,850 | +€1,807 | +4187.3% |
| Other amounts receivable | 41 | €3,476 | €5,117 | +€1,641 | +47.2% |
| Cash at bank and in hand | 54/58 | €188,757 | €45,558 | -€143,200 | -75.9% |
| Deferred charges and accrued income | 490/1 | €16,364 | €15,899 | -€465 | -2.8% |
| Total equity and liabilities | 10/49 | €276,757 | €117,431 | -€159,326 | -57.6% |
| Equity | 10/15 | €32,338 | €16,183 | -€16,155 | -50.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,448 | -€5,897 | -€15,345 | |
| Investment grants | 15 | €2,430 | €1,620 | -€810 | -33.3% |
| Amounts payable | 17/49 | €244,418 | €101,247 | -€143,171 | -58.6% |
| Amounts payable after more than one year | 17 | €13,437 | €3,992 | -€9,445 | -70.3% |
| Financial debts | 170/4 | €13,437 | €3,992 | -€9,445 | -70.3% |
| Amounts payable within one year | 42/48 | €230,981 | €94,760 | -€136,222 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €9,257 | €9,445 | +€189 | +2.0% |
| Trade debts | 44 | €23,584 | €19,024 | -€4,560 | -19.3% |
| Suppliers | 440/4 | €23,584 | €19,024 | -€4,560 | -19.3% |
| Taxes, remuneration and social security | 45 | €65,812 | €60,144 | -€5,668 | -8.6% |
| Taxes | 450/3 | €27,226 | €10,420 | -€16,806 | -61.7% |
| Remuneration and social security | 454/9 | €38,586 | €49,724 | +€11,138 | +28.9% |
| Other amounts payable | 47/48 | €132,328 | €6,146 | -€126,182 | -95.4% |
| Accrued charges and deferred income | 492/3 | - | €2,496 | +€2,496 | |
| Remuneration, social security and pensions | 62 | €344,812 | €422,006 | +€77,194 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,878 | €19,606 | -€2,273 | -10.4% |
| Other operating charges | 640/8 | €3,593 | €2,612 | -€980 | -27.3% |
| Gross operating margin | 9900 | €377,324 | €432,770 | +€55,446 | +14.7% |
| Operating profit (loss) | 9901 | €7,041 | -€11,454 | -€18,494 | |
| Financial income | 75/76B | €1,779 | €1,649 | -€131 | -7.3% |
| Recurring financial income | 75 | €1,779 | €1,649 | -€131 | -7.3% |
| Financial charges | 65/66B | €5,542 | €5,651 | +€109 | +2.0% |
| Recurring financial charges | 65 | €5,542 | €5,651 | +€109 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €3,278 | -€15,456 | -€18,734 | |
| Income taxes | 67/77 | €5,402 | -€111 | -€5,513 | |
| Profit (loss) for the period | 9904 | -€2,124 | -€15,345 | -€13,221 | -622.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,124 | -€15,345 | -€13,221 | -622.6% |
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.