CIRCULO: 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.
CIRCULO
Largest movements
- Cash -€44,904
down €44,904 (-77.1%), from €58,234 to €13,330
mainly Net result for the year (-€46,912) and Tax, wage and social debts (-€12,826)
- Receivables within one year -€11,315
down €11,315 (-43.2%), from €26,175 to €14,860
of which Trade receivables: -€24,783
- Tangible fixed assets -€2,485
down €2,485 (-21.1%), from €11,778 to €9,293
of which Furniture and vehicles: -€2,368
- Profit (loss) carried forward -€46,912
down €46,912 (-54.3%), from €86,463 to €39,551
- Tax, wage and social debts -€12,826
down €12,826 (-46.3%), from €27,711 to €14,885
- Other debts +€1,393
up €1,393 (+36.8%), from €3,788 to €5,181
- Gross operating margin -€100,278
down €100,278, from €57,579 to -€42,699
- Taxes -€11,589
down €11,589 (-98.9%), from €11,721 to €132
- Other operating charges +€640
up €640 (+180.6%), from €354 to €994
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 | €126,187 | €67,483 | -€58,704 | -46.5% |
| Fixed assets | 21/28 | €11,778 | €9,293 | -€2,485 | -21.1% |
| Tangible fixed assets | 22/27 | €11,778 | €9,293 | -€2,485 | -21.1% |
| Plant, machinery and equipment | 23 | €1,002 | €885 | -€117 | -11.7% |
| Furniture and vehicles | 24 | €8,232 | €5,864 | -€2,368 | -28.8% |
| Other tangible fixed assets | 26 | €2,544 | €2,544 | = | 0.0% |
| Current assets | 29/58 | €114,409 | €58,190 | -€56,219 | -49.1% |
| Amounts receivable within one year | 40/41 | €26,175 | €14,860 | -€11,315 | -43.2% |
| Trade receivables | 40 | €26,175 | €1,392 | -€24,783 | -94.7% |
| Other amounts receivable | 41 | - | €13,468 | +€13,468 | |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €58,234 | €13,330 | -€44,904 | -77.1% |
| Total equity and liabilities | 10/49 | €126,187 | €67,483 | -€58,704 | -46.5% |
| Equity | 10/15 | €91,463 | €44,551 | -€46,912 | -51.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,463 | €39,551 | -€46,912 | -54.3% |
| Amounts payable | 17/49 | €34,724 | €22,932 | -€11,792 | -34.0% |
| Amounts payable within one year | 42/48 | €34,724 | €22,932 | -€11,792 | -34.0% |
| Trade debts | 44 | €3,226 | €2,867 | -€359 | -11.1% |
| Suppliers | 440/4 | €3,226 | €2,867 | -€359 | -11.1% |
| Taxes, remuneration and social security | 45 | €27,711 | €14,885 | -€12,826 | -46.3% |
| Taxes | 450/3 | €27,711 | €14,885 | -€12,826 | -46.3% |
| Other amounts payable | 47/48 | €3,788 | €5,181 | +€1,393 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,988 | €2,485 | +€497 | +25.0% |
| Other operating charges | 640/8 | €354 | €994 | +€640 | +180.6% |
| Gross operating margin | 9900 | €57,579 | -€42,699 | -€100,278 | |
| Operating profit (loss) | 9901 | €55,237 | -€46,178 | -€101,415 | |
| Financial charges | 65/66B | €673 | €602 | -€71 | -10.6% |
| Recurring financial charges | 65 | €673 | €602 | -€71 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €54,564 | -€46,780 | -€101,344 | |
| Income taxes | 67/77 | €11,721 | €132 | -€11,589 | -98.9% |
| Profit (loss) for the period | 9904 | €42,843 | -€46,912 | -€89,755 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,843 | -€46,912 | -€89,755 |
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 7 October 2026 via checked.be.