CIRCUS LS: what changed
CIRCUS LS
Largest movements
- Current investments -€141,188
no longer reported in 2025 (was €141,188)
- Cash +€81,654
up €81,654 (+24,958%), from €327 to €81,981
mainly Current investments (+€141,188) and Depreciation (+€4,499)
- Tangible fixed assets +€27,621
up €27,621 (+18.4%), from €150,036 to €177,657
of which Land and buildings: +€80,092
- Debts after one year -€20,000
down €20,000 (-10.0%), from €200,000 to €180,000
- Trade debts -€15,366
down €15,366 (-80.6%), from €19,075 to €3,710
- Advances received +€3,500
new in 2025: €3,500
- Reserves +€3,090
up €3,090 (+370%), from €836 to €3,926
- Depreciation -€16,064
down €16,064 (-78.1%), from €20,562 to €4,499
- Gross operating margin +€15,294
up €15,294, from -€3,205 to €12,089
- Financial income -€276
down €276 (-31.1%), from €887 to €611
- Other operating charges +€218
up €218 (+5.5%), from €3,961 to €4,179
- Financial charges -€194
down €194 (-42.7%), from €455 to €261
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €293,202 | €263,877 | -€29,326 | -10.0% |
| Fixed assets | 21/28 | €150,036 | €177,657 | +€27,621 | +18.4% |
| Tangible fixed assets | 22/27 | €150,036 | €177,657 | +€27,621 | +18.4% |
| Land and buildings | 22 | €81,433 | €161,525 | +€80,092 | +98.4% |
| Plant, machinery and equipment | 23 | €64,065 | €6,289 | -€57,777 | -90.2% |
| Furniture and vehicles | 24 | €4,538 | €9,843 | +€5,305 | +117% |
| Current assets | 29/58 | €143,167 | €86,220 | -€56,947 | -39.8% |
| Stocks and contracts in progress | 3 | €445 | €435 | -€10 | -2.2% |
| Stocks | 30/36 | €445 | €435 | -€10 | -2.2% |
| Amounts receivable within one year | 40/41 | €544 | €3,061 | +€2,517 | +462% |
| Trade receivables | 40 | €257 | - | -€257 | |
| Other amounts receivable | 41 | €287 | €3,061 | +€2,774 | +966% |
| Current investments | 50/53 | €141,188 | - | -€141,188 | |
| Cash at bank and in hand | 54/58 | €327 | €81,981 | +€81,654 | +24,958% |
| Deferred charges and accrued income | 490/1 | €662 | €742 | +€80 | +12.1% |
| Total equity and liabilities | 10/49 | €293,202 | €263,877 | -€29,326 | -10.0% |
| Equity | 10/15 | €65,352 | €68,442 | +€3,090 | +4.7% |
| Contributions | 10/11 | €64,516 | €64,516 | = | 0.0% |
| Reserves | 13 | €836 | €3,926 | +€3,090 | +370% |
| Distributable reserves | 133 | €836 | €3,926 | +€3,090 | +370% |
| Amounts payable | 17/49 | €227,850 | €195,434 | -€32,416 | -14.2% |
| Amounts payable after more than one year | 17 | €200,000 | €180,000 | -€20,000 | -10.0% |
| Financial debts | 170/4 | €200,000 | €180,000 | -€20,000 | -10.0% |
| Amounts payable within one year | 42/48 | €27,850 | €15,434 | -€12,416 | -44.6% |
| Trade debts | 44 | €19,075 | €3,710 | -€15,366 | -80.6% |
| Suppliers | 440/4 | €19,075 | €3,710 | -€15,366 | -80.6% |
| Advances received on contracts in progress | 46 | - | €3,500 | +€3,500 | |
| Taxes, remuneration and social security | 45 | €1,782 | €4,022 | +€2,240 | +126% |
| Taxes | 450/3 | €281 | €1,008 | +€728 | +259% |
| Remuneration and social security | 454/9 | €1,501 | €3,014 | +€1,513 | +101% |
| Other amounts payable | 47/48 | €6,993 | €4,202 | -€2,791 | -39.9% |
| Non-recurring operating income | 76A | €8,165 | - | -€8,165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,562 | €4,499 | -€16,064 | -78.1% |
| Other operating charges | 640/8 | €3,961 | €4,179 | +€218 | +5.5% |
| Gross operating margin | 9900 | -€3,205 | €12,089 | +€15,294 | |
| Operating profit (loss) | 9901 | -€27,729 | €3,411 | +€31,140 | |
| Financial income | 75/76B | €887 | €611 | -€276 | -31.1% |
| Recurring financial income | 75 | €887 | €611 | -€276 | -31.1% |
| Financial charges | 65/66B | €455 | €261 | -€194 | -42.7% |
| Recurring financial charges | 65 | €455 | €261 | -€194 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,297 | €3,761 | +€31,058 | |
| Income taxes | 67/77 | €547 | €671 | +€124 | +22.8% |
| Profit (loss) for the period | 9904 | -€27,844 | €3,090 | +€30,934 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,844 | €3,090 | +€30,934 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.