CIRCUITS PAYSANS: 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.
CIRCUITS PAYSANS
Largest movements
- Receivables within one year +€109,181
up €109,181 (+50.3%), from €216,926 to €326,107
of which Trade receivables: +€80,698
- Cash -€72,544
down €72,544 (-71.0%), from €102,212 to €29,669
mainly Receivables within one year (-€109,181) and Stocks and contracts (-€42,582)
- Stocks and contracts +€42,582
up €42,582 (+66.6%), from €63,927 to €106,509
- Financial fixed assets -€11,900
down €11,900 (-33.2%), from €35,806 to €23,906
- Trade debts +€78,872
up €78,872 (+28.6%), from €275,728 to €354,600
- Debts after one year -€26,300
down €26,300 (-29.6%), from €88,924 to €62,623
- Reserves +€18,663
up €18,663 (+3,111%), from €600 to €19,263
of which Distributable reserves: +€18,663
- Profit (loss) carried forward -€18,508
down €18,508 (-10.0%), from -€185,361 to -€203,868
- Tax, wage and social debts +€7,411
up €7,411 (+26.9%), from €27,557 to €34,968
of which Remuneration and social security: +€8,138
- Turnover +€333,951
up €333,951 (+15.6%), from €2.1m to €2.5m
- Purchases and services +€279,927
up €279,927 (+14.2%), from €2.0m to €2.2m
- Staff costs +€74,658
up €74,658 (+40.7%), from €183,382 to €258,040
- Gross operating margin +€34,030
up €34,030 (+14.5%), from €235,246 to €269,276
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 | €463,789 | €525,614 | +€61,825 | +13.3% |
| Formation expenses | 20 | €2,868 | €2,301 | -€567 | -19.8% |
| Fixed assets | 21/28 | €43,657 | €26,830 | -€16,827 | -38.5% |
| Intangible fixed assets | 21 | €3,551 | €1,112 | -€2,439 | -68.7% |
| Tangible fixed assets | 22/27 | €4,300 | €1,812 | -€2,488 | -57.9% |
| Plant, machinery and equipment | 23 | €4,300 | €1,812 | -€2,488 | -57.9% |
| Financial fixed assets | 28 | €35,806 | €23,906 | -€11,900 | -33.2% |
| Current assets | 29/58 | €417,265 | €496,483 | +€79,219 | +19.0% |
| Stocks and contracts in progress | 3 | €63,927 | €106,509 | +€42,582 | +66.6% |
| Stocks | 30/36 | €63,927 | €106,509 | +€42,582 | +66.6% |
| Amounts receivable within one year | 40/41 | €216,926 | €326,107 | +€109,181 | +50.3% |
| Trade receivables | 40 | €187,989 | €268,687 | +€80,698 | +42.9% |
| Other amounts receivable | 41 | €28,937 | €57,420 | +€28,483 | +98.4% |
| Cash at bank and in hand | 54/58 | €102,212 | €29,669 | -€72,544 | -71.0% |
| Deferred charges and accrued income | 490/1 | €34,199 | €34,199 | = | 0.0% |
| Total equity and liabilities | 10/49 | €463,789 | €525,614 | +€61,825 | +13.3% |
| Equity | 10/15 | €39,845 | €41,200 | +€1,356 | +3.4% |
| Contributions | 10/11 | €224,605 | €225,805 | +€1,200 | +0.5% |
| Reserves | 13 | €600 | €19,263 | +€18,663 | +3,111% |
| Non-distributable reserves | 130/1 | €600 | €600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €600 | €600 | = | 0.0% |
| Distributable reserves | 133 | - | €18,663 | +€18,663 | |
| Profit (loss) carried forward | 14 | -€185,361 | -€203,868 | -€18,508 | -10.0% |
| Amounts payable | 17/49 | €423,945 | €484,414 | +€60,469 | +14.3% |
| Amounts payable after more than one year | 17 | €88,924 | €62,623 | -€26,300 | -29.6% |
| Financial debts | 170/4 | €88,924 | €62,623 | -€26,300 | -29.6% |
| Amounts payable within one year | 42/48 | €331,310 | €418,163 | +€86,854 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €25,730 | €26,300 | +€570 | +2.2% |
| Trade debts | 44 | €275,728 | €354,600 | +€78,872 | +28.6% |
| Suppliers | 440/4 | €275,728 | €354,600 | +€78,872 | +28.6% |
| Taxes, remuneration and social security | 45 | €27,557 | €34,968 | +€7,411 | +26.9% |
| Taxes | 450/3 | €726 | - | -€726 | |
| Remuneration and social security | 454/9 | €26,830 | €34,968 | +€8,138 | +30.3% |
| Other amounts payable | 47/48 | €2,294 | €2,294 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,711 | €3,627 | -€84 | -2.3% |
| Turnover | 70 | €2,141,232 | €2,475,183 | +€333,951 | +15.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,966,640 | €2,246,567 | +€279,927 | +14.2% |
| Remuneration, social security and pensions | 62 | €183,382 | €258,040 | +€74,658 | +40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,191 | €5,494 | -€2,698 | -32.9% |
| Other operating charges | 640/8 | €9,637 | €400 | -€9,237 | -95.9% |
| Non-recurring operating charges | 66A | €419 | - | -€419 | |
| Gross operating margin | 9900 | €235,246 | €269,276 | +€34,030 | +14.5% |
| Operating profit (loss) | 9901 | €33,617 | €5,342 | -€28,274 | -84.1% |
| Financial income | 75/76B | €2,454 | €218 | -€2,236 | -91.1% |
| Recurring financial income | 75 | €945 | €218 | -€726 | -76.9% |
| Non-recurring financial income | 76B | €1,509 | - | -€1,509 | |
| Financial charges | 65/66B | €11,342 | €5,405 | -€5,937 | -52.3% |
| Recurring financial charges | 65 | €11,342 | €5,405 | -€5,937 | -52.3% |
| Profit (loss) for the period before taxes | 9903 | €24,729 | €156 | -€24,573 | -99.4% |
| Profit (loss) for the period | 9904 | €24,729 | €156 | -€24,573 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,729 | €156 | -€24,573 | -99.4% |
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 21 October 2026 via checked.be.