CIRAK: 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.
CIRAK
Largest movements
- Current investments -€951,830
no longer reported in 2024 (was €951,830)
- Cash -€403,456
down €403,456 (-91.6%), from €440,379 to €36,923
mainly Other debts (-€1.1m) and Trade debts (-€288,685)
- Receivables within one year -€20,207
down €20,207 (-22.4%), from €90,207 to €70,000
of which Other amounts receivable: -€43,851
- Financial fixed assets -€19,800
down €19,800 (-66.7%), from €29,670 to €9,870
- Other debts -€1.1m
no longer reported in 2024 (was €1.1m)
- Trade debts -€288,685
down €288,685 (-92.8%), from €311,156 to €22,471
- Tax, wage and social debts -€46,918
down €46,918 (-51.4%), from €91,239 to €44,322
of which Remuneration and social security: -€61,043
- Reserves +€19,852
up €19,852 (+77.0%), from €25,796 to €45,649
of which Distributable reserves: +€21,712
- Gross operating margin -€1.3m
down €1.3m (-66.4%), from €1.9m to €639,775
- Other operating charges -€910,455
down €910,455 (-81.2%), from €1.1m to €210,316
- Staff costs -€324,783
down €324,783 (-45.7%), from €710,111 to €385,329
- Depreciation -€24,147
down €24,147 (-69.8%), from €34,578 to €10,431
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,540,853 | €136,043 | -€1.4m | -91.2% |
| Fixed assets | 21/28 | €47,575 | €22,712 | -€24,863 | -52.3% |
| Tangible fixed assets | 22/27 | €17,905 | €12,842 | -€5,063 | -28.3% |
| Plant, machinery and equipment | 23 | - | €3,114 | +€3,114 | |
| Furniture and vehicles | 24 | €9,292 | €5,606 | -€3,686 | -39.7% |
| Other tangible fixed assets | 26 | €8,613 | €4,122 | -€4,491 | -52.1% |
| Financial fixed assets | 28 | €29,670 | €9,870 | -€19,800 | -66.7% |
| Current assets | 29/58 | €1,493,278 | €113,331 | -€1.4m | -92.4% |
| Amounts receivable within one year | 40/41 | €90,207 | €70,000 | -€20,207 | -22.4% |
| Trade receivables | 40 | €46,357 | €70,000 | +€23,643 | +51.0% |
| Other amounts receivable | 41 | €43,851 | - | -€43,851 | |
| Current investments | 50/53 | €951,830 | - | -€951,830 | |
| Cash at bank and in hand | 54/58 | €440,379 | €36,923 | -€403,456 | -91.6% |
| Deferred charges and accrued income | 490/1 | €10,861 | €6,408 | -€4,453 | -41.0% |
| Total equity and liabilities | 10/49 | €1,540,853 | €136,043 | -€1.4m | -91.2% |
| Equity | 10/15 | €44,396 | €64,249 | +€19,852 | +44.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,796 | €45,649 | +€19,852 | +77.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €23,936 | €45,649 | +€21,712 | +90.7% |
| Amounts payable | 17/49 | €1,496,457 | €71,794 | -€1.4m | -95.2% |
| Amounts payable within one year | 42/48 | €1,494,463 | €71,794 | -€1.4m | -95.2% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Financial debts | 43 | - | €2 | +€2 | |
| Credit institutions | 430/8 | - | €2 | +€2 | |
| Trade debts | 44 | €311,156 | €22,471 | -€288,685 | -92.8% |
| Suppliers | 440/4 | €311,156 | €22,471 | -€288,685 | -92.8% |
| Taxes, remuneration and social security | 45 | €91,239 | €44,322 | -€46,918 | -51.4% |
| Taxes | 450/3 | €16,009 | €30,135 | +€14,126 | +88.2% |
| Remuneration and social security | 454/9 | €75,230 | €14,187 | -€61,043 | -81.1% |
| Other amounts payable | 47/48 | €1,087,068 | - | -€1.1m | |
| Accrued charges and deferred income | 492/3 | €1,994 | - | -€1,994 | |
| Remuneration, social security and pensions | 62 | €710,111 | €385,329 | -€324,783 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,578 | €10,431 | -€24,147 | -69.8% |
| Other operating charges | 640/8 | €1,120,771 | €210,316 | -€910,455 | -81.2% |
| Gross operating margin | 9900 | €1,904,060 | €639,775 | -€1.3m | -66.4% |
| Operating profit (loss) | 9901 | €38,600 | €33,700 | -€4,900 | -12.7% |
| Financial income | 75/76B | €271 | - | -€271 | |
| Recurring financial income | 75 | €271 | - | -€271 | |
| Financial charges | 65/66B | €306 | €323 | +€16 | +5.4% |
| Recurring financial charges | 65 | €306 | €323 | +€16 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €38,564 | €33,377 | -€5,187 | -13.4% |
| Income taxes | 67/77 | €16,009 | €13,525 | -€2,484 | -15.5% |
| Profit (loss) for the period | 9904 | €22,555 | €19,852 | -€2,703 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,555 | €19,852 | -€2,703 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.