CIRCONFLEXE: 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.
CIRCONFLEXE
Largest movements
- Intangible fixed assets -€2,330
down €2,330 (-25.8%), from €9,015 to €6,685
- Receivables within one year -€2,328
down €2,328 (-35.3%), from €6,591 to €4,263
of which Trade receivables: -€2,711
- Cash -€826
down €826 (-85.9%), from €962 to €135
mainly Net result for the year (-€12,037) and Tax, wage and social debts (-€3,448)
- Profit (loss) carried forward -€12,037
down €12,037, from €9,809 to -€2,228
- Other debts +€7,022
new in 2025: €7,022
- Tax, wage and social debts -€3,448
down €3,448 (-100%), from €3,448 to €0
- Trade debts +€2,978
up €2,978 (+958%), from €311 to €3,289
- Write-downs +€3,150
new in 2025: €3,150
- Gross operating margin -€1,119
down €1,119 (-23.9%), from -€4,689 to -€5,808
- Financial charges +€313
up €313 (+188%), from €166 to €480
- Other operating charges +€86
up €86 (+46.6%), from €184 to €269
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 | €16,567 | €11,083 | -€5,484 | -33.1% |
| Fixed assets | 21/28 | €9,015 | €6,685 | -€2,330 | -25.8% |
| Intangible fixed assets | 21 | €9,015 | €6,685 | -€2,330 | -25.8% |
| Current assets | 29/58 | €7,552 | €4,398 | -€3,154 | -41.8% |
| Amounts receivable within one year | 40/41 | €6,591 | €4,263 | -€2,328 | -35.3% |
| Trade receivables | 40 | €4,719 | €2,008 | -€2,711 | -57.4% |
| Other amounts receivable | 41 | €1,872 | €2,254 | +€383 | +20.4% |
| Cash at bank and in hand | 54/58 | €962 | €135 | -€826 | -85.9% |
| Total equity and liabilities | 10/49 | €16,567 | €11,083 | -€5,484 | -33.1% |
| Equity | 10/15 | €12,809 | €772 | -€12,037 | -94.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,809 | -€2,228 | -€12,037 | |
| Amounts payable | 17/49 | €3,758 | €10,311 | +€6,553 | +174% |
| Amounts payable within one year | 42/48 | €3,758 | €10,311 | +€6,553 | +174% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €311 | €3,289 | +€2,978 | +958% |
| Suppliers | 440/4 | €311 | €3,289 | +€2,978 | +958% |
| Taxes, remuneration and social security | 45 | €3,448 | €0 | -€3,448 | -100% |
| Taxes | 450/3 | €3,448 | €0 | -€3,448 | -100% |
| Other amounts payable | 47/48 | - | €7,022 | +€7,022 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,330 | €2,330 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,150 | +€3,150 | |
| Other operating charges | 640/8 | €184 | €269 | +€86 | +46.6% |
| Gross operating margin | 9900 | -€4,689 | -€5,808 | -€1,119 | -23.9% |
| Operating profit (loss) | 9901 | -€7,203 | -€11,557 | -€4,354 | -60.4% |
| Financial charges | 65/66B | €166 | €480 | +€313 | +188% |
| Recurring financial charges | 65 | €166 | €480 | +€313 | +188% |
| Profit (loss) for the period before taxes | 9903 | -€7,370 | -€12,037 | -€4,668 | -63.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€7,370 | -€12,037 | -€4,668 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,370 | -€12,037 | -€4,668 | -63.3% |
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 15 October 2026 via checked.be.