CIRCULACOOP: 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.
CIRCULACOOP
Largest movements
- Receivables within one year -€61,635
down €61,635 (-68.6%), from €89,817 to €28,182
of which Other amounts receivable: -€45,540
- Cash +€22,473
up €22,473 (+408.0%), from €5,509 to €27,982
mainly Receivables within one year (+€61,635) and Current portion of long-term debt (+€37,558)
- Stocks and contracts -€16,424
down €16,424 (-24.1%), from €68,030 to €51,606
- Deferred charges and accrued income +€4,098
new in 2025: €4,098
- Profit (loss) carried forward -€137,970
down €137,970 (-230.2%), from -€59,937 to -€197,908
- Current portion of long-term debt +€37,558
up €37,558 (+200.9%), from €18,695 to €56,253
- Tax, wage and social debts -€26,863
down €26,863 (-85.9%), from €31,283 to €4,420
of which Remuneration and social security: -€30,981
- Trade debts +€26,718
up €26,718 (+28.9%), from €92,450 to €119,168
- Contributions +€25,100
up €25,100 (+17.3%), from €144,720 to €169,820
- Gross operating margin -€112,839
down €112,839 (-49.7%), from €227,269 to €114,430
- Staff costs -€49,667
down €49,667 (-19.6%), from €253,174 to €203,507
- Depreciation +€8,408
up €8,408 (+40.2%), from €20,937 to €29,346
- Financial charges +€5,213
up €5,213 (+48.5%), from €10,742 to €15,954
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 | €354,157 | €301,526 | -€52,631 | -14.9% |
| Fixed assets | 21/28 | €190,801 | €189,659 | -€1,142 | -0.6% |
| Intangible fixed assets | 21 | €645 | €245 | -€400 | -62.0% |
| Tangible fixed assets | 22/27 | €165,476 | €164,684 | -€792 | -0.5% |
| Plant, machinery and equipment | 23 | €73,590 | €65,366 | -€8,224 | -11.2% |
| Furniture and vehicles | 24 | €49,129 | €36,175 | -€12,954 | -26.4% |
| Other tangible fixed assets | 26 | €42,757 | €63,143 | +€20,386 | +47.7% |
| Financial fixed assets | 28 | €24,679 | €24,729 | +€50 | +0.2% |
| Current assets | 29/58 | €163,356 | €111,868 | -€51,489 | -31.5% |
| Stocks and contracts in progress | 3 | €68,030 | €51,606 | -€16,424 | -24.1% |
| Stocks | 30/36 | €68,030 | €51,606 | -€16,424 | -24.1% |
| Amounts receivable within one year | 40/41 | €89,817 | €28,182 | -€61,635 | -68.6% |
| Trade receivables | 40 | €44,277 | €28,182 | -€16,095 | -36.4% |
| Other amounts receivable | 41 | €45,540 | - | -€45,540 | |
| Cash at bank and in hand | 54/58 | €5,509 | €27,982 | +€22,473 | +408.0% |
| Deferred charges and accrued income | 490/1 | - | €4,098 | +€4,098 | |
| Total equity and liabilities | 10/49 | €354,157 | €301,526 | -€52,631 | -14.9% |
| Equity | 10/15 | €84,783 | -€28,088 | -€112,870 | |
| Contributions | 10/11 | €144,720 | €169,820 | +€25,100 | +17.3% |
| Outside capital | 11 | €144,720 | €169,820 | +€25,100 | +17.3% |
| Other | 1109/19 | €144,720 | €169,820 | +€25,100 | +17.3% |
| Profit (loss) carried forward | 14 | -€59,937 | -€197,908 | -€137,970 | -230.2% |
| Amounts payable | 17/49 | €269,375 | €329,614 | +€60,240 | +22.4% |
| Amounts payable after more than one year | 17 | €126,107 | €130,921 | +€4,814 | +3.8% |
| Financial debts | 170/4 | €126,107 | €130,921 | +€4,814 | +3.8% |
| Amounts payable within one year | 42/48 | €143,267 | €193,626 | +€50,358 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €18,695 | €56,253 | +€37,558 | +200.9% |
| Financial debts | 43 | €788 | €1,659 | +€871 | +110.5% |
| Credit institutions | 430/8 | €788 | €1,659 | +€871 | +110.5% |
| Trade debts | 44 | €92,450 | €119,168 | +€26,718 | +28.9% |
| Suppliers | 440/4 | €92,450 | €119,168 | +€26,718 | +28.9% |
| Taxes, remuneration and social security | 45 | €31,283 | €4,420 | -€26,863 | -85.9% |
| Taxes | 450/3 | €302 | €4,420 | +€4,118 | +1363.5% |
| Remuneration and social security | 454/9 | €30,981 | - | -€30,981 | |
| Other amounts payable | 47/48 | €51 | €12,126 | +€12,075 | +23817.0% |
| Accrued charges and deferred income | 492/3 | - | €5,067 | +€5,067 | |
| Remuneration, social security and pensions | 62 | €253,174 | €203,507 | -€49,667 | -19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,937 | €29,346 | +€8,408 | +40.2% |
| Other operating charges | 640/8 | €2,106 | €3,767 | +€1,662 | +78.9% |
| Gross operating margin | 9900 | €227,269 | €114,430 | -€112,839 | -49.7% |
| Operating profit (loss) | 9901 | -€48,948 | -€122,190 | -€73,242 | -149.6% |
| Financial income | 75/76B | €0 | €173 | +€173 | +82495.2% |
| Recurring financial income | 75 | €0 | €173 | +€173 | +82495.2% |
| Financial charges | 65/66B | €10,742 | €15,954 | +€5,213 | +48.5% |
| Recurring financial charges | 65 | €10,742 | €15,954 | +€5,213 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | -€59,689 | -€137,970 | -€78,281 | -131.1% |
| Profit (loss) for the period | 9904 | -€59,689 | -€137,970 | -€78,281 | -131.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,689 | -€137,970 | -€78,281 | -131.1% |
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 2 October 2026 via checked.be.