CIPIC: 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.
CIPIC
Largest movements
- Receivables within one year -€21,968
down €21,968 (-38.5%), from €57,100 to €35,132
of which Other amounts receivable: -€12,070
- Cash +€11,653
up €11,653 (+15.7%), from €74,170 to €85,822
mainly Receivables within one year (+€21,968) and Depreciation (+€4,747)
- Tangible fixed assets -€4,747
down €4,747 (-27.2%), from €17,446 to €12,699
of which Furniture and vehicles: -€4,660
- Profit (loss) carried forward -€13,955
down €13,955 (-8.8%), from -€159,198 to -€173,153
- Gross operating margin +€12,109
up €12,109 (+60.5%), from -€20,016 to -€7,907
- Staff costs -€5,940
no longer reported in 2025 (was €5,940)
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 | €148,716 | €133,654 | -€15,062 | -10.1% |
| Fixed assets | 21/28 | €17,446 | €12,699 | -€4,747 | -27.2% |
| Tangible fixed assets | 22/27 | €17,446 | €12,699 | -€4,747 | -27.2% |
| Furniture and vehicles | 24 | €17,273 | €12,613 | -€4,660 | -27.0% |
| Other tangible fixed assets | 26 | €173 | €87 | -€87 | -50.0% |
| Current assets | 29/58 | €131,270 | €120,954 | -€10,315 | -7.9% |
| Amounts receivable within one year | 40/41 | €57,100 | €35,132 | -€21,968 | -38.5% |
| Trade receivables | 40 | €13,092 | €3,194 | -€9,898 | -75.6% |
| Other amounts receivable | 41 | €44,008 | €31,938 | -€12,070 | -27.4% |
| Cash at bank and in hand | 54/58 | €74,170 | €85,822 | +€11,653 | +15.7% |
| Total equity and liabilities | 10/49 | €148,716 | €133,654 | -€15,062 | -10.1% |
| Equity | 10/15 | €146,902 | €132,947 | -€13,955 | -9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €287,499 | €287,499 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €285,639 | €285,639 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€159,198 | -€173,153 | -€13,955 | -8.8% |
| Amounts payable | 17/49 | €1,814 | €707 | -€1,107 | -61.0% |
| Amounts payable within one year | 42/48 | €1,814 | €707 | -€1,107 | -61.0% |
| Trade debts | 44 | €769 | - | -€769 | |
| Suppliers | 440/4 | €769 | - | -€769 | |
| Taxes, remuneration and social security | 45 | €1,045 | €707 | -€338 | -32.3% |
| Taxes | 450/3 | €1,045 | €707 | -€338 | -32.3% |
| Remuneration, social security and pensions | 62 | €5,940 | - | -€5,940 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,747 | €4,747 | = | 0.0% |
| Other operating charges | 640/8 | €449 | €527 | +€78 | +17.4% |
| Gross operating margin | 9900 | -€20,016 | -€7,907 | +€12,109 | +60.5% |
| Operating profit (loss) | 9901 | -€31,152 | -€13,181 | +€17,971 | +57.7% |
| Financial charges | 65/66B | €65 | €67 | +€1 | +2.0% |
| Recurring financial charges | 65 | €65 | €67 | +€1 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,218 | -€13,248 | +€17,970 | +57.6% |
| Income taxes | 67/77 | €688 | €707 | +€19 | +2.8% |
| Profit (loss) for the period | 9904 | -€31,906 | -€13,955 | +€17,951 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,906 | -€13,955 | +€17,951 | +56.3% |
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 30 September 2026 via checked.be.