Circul 2020: 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.
Circul 2020
Largest movements
- Receivables within one year +€147,837
up €147,837 (+5.5%), from €2.7m to €2.8m
- Cash +€78,707
up €78,707 (+13.9%), from €568,257 to €646,964
mainly Tax, wage and social debts (+€493,848) and Trade debts (+€295,908)
- Accrued charges and deferred income -€554,289
no longer reported in 2025 (was €554,289)
- Tax, wage and social debts +€493,848
up €493,848 (+109.5%), from €451,025 to €944,873
- Trade debts +€295,908
up €295,908 (+17.8%), from €1.7m to €2.0m
- Turnover +€2.8m
up €2.8m (+41.3%), from €6.8m to €9.6m
- Goods and materials +€2.5m
up €2.5m (+37.8%), from €6.7m to €9.3m
- Financial income -€488,092
down €488,092 (-81.6%), from €598,455 to €110,364
- Financial charges -€488,079
down €488,079 (-81.5%), from €598,507 to €110,428
- Services and other goods +€271,373
up €271,373 (+506.0%), from €53,635 to €325,008
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.
Cash bridge derived
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 | €3,241,177 | €3,467,722 | +€226,544 | +7.0% |
| Current assets | 29/58 | €3,241,177 | €3,467,722 | +€226,544 | +7.0% |
| Amounts receivable within one year | 40/41 | €2,672,920 | €2,820,757 | +€147,837 | +5.5% |
| Trade receivables | 40 | €2,672,920 | €2,820,757 | +€147,837 | +5.5% |
| Cash at bank and in hand | 54/58 | €568,257 | €646,964 | +€78,707 | +13.9% |
| Total equity and liabilities | 10/49 | €3,241,177 | €3,467,722 | +€226,544 | +7.0% |
| Equity | 10/15 | €74,785 | €65,862 | -€8,923 | -11.9% |
| 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% |
| Reserves | 13 | €836 | €836 | = | 0.0% |
| Non-distributable reserves | 130/1 | €836 | €836 | = | 0.0% |
| Legal reserve | 130 | €836 | €836 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,449 | €3,526 | -€8,923 | -71.7% |
| Provisions and deferred taxes | 16 | €56 | €56 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €56 | €56 | = | 0.0% |
| Other liabilities and charges | 164/5 | €56 | €56 | = | 0.0% |
| Amounts payable | 17/49 | €3,166,337 | €3,401,804 | +€235,467 | +7.4% |
| Amounts payable within one year | 42/48 | €2,612,047 | €3,401,804 | +€789,756 | +30.2% |
| Trade debts | 44 | €1,661,022 | €1,956,930 | +€295,908 | +17.8% |
| Suppliers | 440/4 | €1,661,022 | €1,956,930 | +€295,908 | +17.8% |
| Taxes, remuneration and social security | 45 | €451,025 | €944,873 | +€493,848 | +109.5% |
| Taxes | 450/3 | €451,025 | €944,873 | +€493,848 | +109.5% |
| Other amounts payable | 47/48 | €500,000 | €500,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €554,289 | - | -€554,289 | |
| Operating income | 70/76A | €6,796,248 | €9,604,400 | +€2.8m | +41.3% |
| Turnover | 70 | €6,796,248 | €9,604,400 | +€2.8m | +41.3% |
| Operating charges | 60/66A | €6,794,029 | €9,613,258 | +€2.8m | +41.5% |
| Goods for resale, raw materials and consumables | 60 | €6,739,412 | €9,287,051 | +€2.5m | +37.8% |
| Purchases | 600/8 | €6,739,412 | €9,287,051 | +€2.5m | +37.8% |
| Services and other goods | 61 | €53,635 | €325,008 | +€271,373 | +506.0% |
| Other operating charges | 640/8 | €982 | €1,199 | +€217 | +22.1% |
| Operating profit (loss) | 9901 | €2,219 | -€8,858 | -€11,078 | |
| Financial income | 75/76B | €598,455 | €110,364 | -€488,092 | -81.6% |
| Recurring financial income | 75 | €598,455 | €110,364 | -€488,092 | -81.6% |
| Other financial income | 752/9 | €598,455 | €110,364 | -€488,092 | -81.6% |
| Financial charges | 65/66B | €598,507 | €110,428 | -€488,079 | -81.5% |
| Recurring financial charges | 65 | €598,507 | €110,428 | -€488,079 | -81.5% |
| Other financial charges | 652/9 | €598,507 | €110,428 | -€488,079 | -81.5% |
| Profit (loss) for the period before taxes | 9903 | €2,168 | -€8,923 | -€11,091 | |
| Income taxes | 67/77 | €2,527 | - | -€2,527 | |
| Taxes | 670/3 | €2,527 | - | -€2,527 | |
| Profit (loss) for the period | 9904 | -€359 | -€8,923 | -€8,564 | -2387.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€359 | -€8,923 | -€8,564 | -2387.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.