CIR-ELEC: 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.
CIR-ELEC
Largest movements
- Receivables within one year -€70,702
down €70,702 (-26.6%), from €265,759 to €195,057
of which Trade receivables: -€45,515
- Cash +€50,361
up €50,361 (+15.7%), from €320,838 to €371,199
mainly Receivables within one year (+€70,702) and Net result for the year (+€36,484)
- Reserves +€36,484
up €36,484 (+8.4%), from €433,660 to €470,144
- Trade debts -€31,213
down €31,213 (-32.5%), from €95,942 to €64,729
- Other debts -€27,243
down €27,243 (-69.9%), from €38,999 to €11,756
- Gross operating margin -€10,330
down €10,330 (-15.6%), from €66,071 to €55,741
- Taxes -€5,077
down €5,077 (-20.7%), from €24,518 to €19,441
- Financial income -€4,493
down €4,493 (-42.0%), from €10,698 to €6,205
- Depreciation -€2,268
down €2,268 (-32.3%), from €7,016 to €4,748
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.
Derived cash bridge
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 | €600,888 | €575,646 | -€25,242 | -4.2% |
| Fixed assets | 21/28 | €11,990 | €7,243 | -€4,748 | -39.6% |
| Tangible fixed assets | 22/27 | €11,990 | €7,243 | -€4,748 | -39.6% |
| Furniture and vehicles | 24 | €2,898 | - | -€2,898 | |
| Other tangible fixed assets | 26 | €9,092 | €7,243 | -€1,849 | -20.3% |
| Current assets | 29/58 | €588,898 | €568,403 | -€20,495 | -3.5% |
| Amounts receivable within one year | 40/41 | €265,759 | €195,057 | -€70,702 | -26.6% |
| Trade receivables | 40 | €223,158 | €177,643 | -€45,515 | -20.4% |
| Other amounts receivable | 41 | €42,601 | €17,413 | -€25,187 | -59.1% |
| Cash at bank and in hand | 54/58 | €320,838 | €371,199 | +€50,361 | +15.7% |
| Deferred charges and accrued income | 490/1 | €2,301 | €2,147 | -€154 | -6.7% |
| Total equity and liabilities | 10/49 | €600,888 | €575,646 | -€25,242 | -4.2% |
| Equity | 10/15 | €452,260 | €488,744 | +€36,484 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €433,660 | €470,144 | +€36,484 | +8.4% |
| Distributable reserves | 133 | €433,660 | €470,144 | +€36,484 | +8.4% |
| Amounts payable | 17/49 | €148,629 | €86,902 | -€61,726 | -41.5% |
| Amounts payable within one year | 42/48 | €148,557 | €86,444 | -€62,113 | -41.8% |
| Trade debts | 44 | €95,942 | €64,729 | -€31,213 | -32.5% |
| Suppliers | 440/4 | €95,942 | €64,729 | -€31,213 | -32.5% |
| Taxes, remuneration and social security | 45 | €13,616 | €9,959 | -€3,657 | -26.9% |
| Taxes | 450/3 | €13,616 | €9,959 | -€3,657 | -26.9% |
| Other amounts payable | 47/48 | €38,999 | €11,756 | -€27,243 | -69.9% |
| Accrued charges and deferred income | 492/3 | €72 | €458 | +€387 | +541% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,016 | €4,748 | -€2,268 | -32.3% |
| Other operating charges | 640/8 | €856 | €869 | +€13 | +1.5% |
| Gross operating margin | 9900 | €66,071 | €55,741 | -€10,330 | -15.6% |
| Operating profit (loss) | 9901 | €58,199 | €50,124 | -€8,074 | -13.9% |
| Financial income | 75/76B | €10,698 | €6,205 | -€4,493 | -42.0% |
| Recurring financial income | 75 | €10,698 | €6,205 | -€4,493 | -42.0% |
| Financial charges | 65/66B | €95 | €404 | +€309 | +324% |
| Recurring financial charges | 65 | €95 | €404 | +€309 | +324% |
| Profit (loss) for the period before taxes | 9903 | €68,801 | €55,925 | -€12,877 | -18.7% |
| Income taxes | 67/77 | €24,518 | €19,441 | -€5,077 | -20.7% |
| Profit (loss) for the period | 9904 | €44,283 | €36,484 | -€7,799 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,283 | €36,484 | -€7,799 | -17.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.