CIRCIOS: 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.
CIRCIOS
Largest movements
- Receivables within one year -€28,816
down €28,816 (-94.7%), from €30,434 to €1,617
of which Trade receivables: -€20,338
- Cash -€10,757
down €10,757 (-37.6%), from €28,616 to €17,860
mainly Trade debts (-€29,673) and Net result for the year (-€10,169)
- Trade debts -€29,673
down €29,673 (-76.5%), from €38,784 to €9,111
- Profit (loss) carried forward -€10,169
down €10,169 (-24.9%), from -€40,853 to -€51,022
- Purchases and services -€48,072
no longer reported in 2025 (was €48,072)
- Gross operating margin +€20,116
up €20,116 (+72.5%), from -€27,734 to -€7,618
- Other operating charges +€1,092
up €1,092 (+282%), from €387 to €1,479
- Financial charges +€284
up €284 (+54.6%), from €520 to €804
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 | €59,431 | €19,589 | -€39,841 | -67.0% |
| Formation expenses | 20 | €381 | €112 | -€269 | -70.6% |
| Current assets | 29/58 | €59,050 | €19,477 | -€39,573 | -67.0% |
| Amounts receivable within one year | 40/41 | €30,434 | €1,617 | -€28,816 | -94.7% |
| Trade receivables | 40 | €20,338 | - | -€20,338 | |
| Other amounts receivable | 41 | €10,096 | €1,617 | -€8,478 | -84.0% |
| Cash at bank and in hand | 54/58 | €28,616 | €17,860 | -€10,757 | -37.6% |
| Total equity and liabilities | 10/49 | €59,431 | €19,589 | -€39,841 | -67.0% |
| Equity | 10/15 | €20,647 | €10,478 | -€10,169 | -49.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,853 | -€51,022 | -€10,169 | -24.9% |
| Amounts payable | 17/49 | €38,784 | €9,111 | -€29,673 | -76.5% |
| Amounts payable within one year | 42/48 | €38,784 | €9,111 | -€29,673 | -76.5% |
| Trade debts | 44 | €38,784 | €9,111 | -€29,673 | -76.5% |
| Suppliers | 440/4 | €38,784 | €9,111 | -€29,673 | -76.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €48,072 | - | -€48,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €269 | €269 | +€0 | 0.0% |
| Other operating charges | 640/8 | €387 | €1,479 | +€1,092 | +282% |
| Gross operating margin | 9900 | -€27,734 | -€7,618 | +€20,116 | +72.5% |
| Operating profit (loss) | 9901 | -€28,390 | -€9,365 | +€19,025 | +67.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €520 | €804 | +€284 | +54.6% |
| Recurring financial charges | 65 | €520 | €804 | +€284 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,910 | -€10,169 | +€18,741 | +64.8% |
| Profit (loss) for the period | 9904 | -€28,910 | -€10,169 | +€18,741 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,910 | -€10,169 | +€18,741 | +64.8% |
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 17 October 2026 via checked.be.