CIREC: 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.
CIREC
Largest movements
- Cash -€30,616
down €30,616 (-55.8%), from €54,862 to €24,246
mainly Receivables within one year (-€29,002) and Trade debts (-€18,351)
- Receivables within one year +€29,002
up €29,002 (+268%), from €10,841 to €39,844
of which Trade receivables: +€30,763
- Receivables after one year +€15,000
new in 2025: €15,000
- Financial fixed assets -€4,950
down €4,950 (-25.4%), from €19,490 to €14,540
- Tangible fixed assets -€1,000
down €1,000 (-38.8%), from €2,578 to €1,578
- Profit (loss) carried forward +€31,816
up €31,816 (+122%), from €26,102 to €57,918
- Trade debts -€18,351
down €18,351 (-85.6%), from €21,430 to €3,079
- Tax, wage and social debts -€6,029
down €6,029 (-58.9%), from €10,239 to €4,211
of which Taxes: -€6,408
- Gross operating margin +€36,455
up €36,455 (+169%), from €21,603 to €58,059
- Staff costs +€3,405
up €3,405 (+16.3%), from €20,888 to €24,294
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 | €87,771 | €95,208 | +€7,437 | +8.5% |
| Fixed assets | 21/28 | €22,068 | €16,118 | -€5,950 | -27.0% |
| Tangible fixed assets | 22/27 | €2,578 | €1,578 | -€1,000 | -38.8% |
| Furniture and vehicles | 24 | €2,578 | €1,578 | -€1,000 | -38.8% |
| Financial fixed assets | 28 | €19,490 | €14,540 | -€4,950 | -25.4% |
| Current assets | 29/58 | €65,703 | €79,090 | +€13,387 | +20.4% |
| Amounts receivable after more than one year | 29 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 291 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €10,841 | €39,844 | +€29,002 | +268% |
| Trade receivables | 40 | €8,693 | €39,456 | +€30,763 | +354% |
| Other amounts receivable | 41 | €2,148 | €388 | -€1,760 | -82.0% |
| Cash at bank and in hand | 54/58 | €54,862 | €24,246 | -€30,616 | -55.8% |
| Total equity and liabilities | 10/49 | €87,771 | €95,208 | +€7,437 | +8.5% |
| Equity | 10/15 | €56,102 | €87,918 | +€31,816 | +56.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,102 | €57,918 | +€31,816 | +122% |
| Amounts payable | 17/49 | €31,669 | €7,290 | -€24,380 | -77.0% |
| Amounts payable within one year | 42/48 | €31,669 | €7,290 | -€24,380 | -77.0% |
| Trade debts | 44 | €21,430 | €3,079 | -€18,351 | -85.6% |
| Suppliers | 440/4 | €21,430 | €3,079 | -€18,351 | -85.6% |
| Taxes, remuneration and social security | 45 | €10,239 | €4,211 | -€6,029 | -58.9% |
| Taxes | 450/3 | €6,907 | €499 | -€6,408 | -92.8% |
| Remuneration and social security | 454/9 | €3,333 | €3,712 | +€379 | +11.4% |
| Remuneration, social security and pensions | 62 | €20,888 | €24,294 | +€3,405 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €422 | €1,000 | +€578 | +137% |
| Other operating charges | 640/8 | €1,115 | €829 | -€286 | -25.6% |
| Gross operating margin | 9900 | €21,603 | €58,059 | +€36,455 | +169% |
| Operating profit (loss) | 9901 | -€822 | €31,936 | +€32,758 | |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €159 | €128 | -€31 | -19.4% |
| Recurring financial charges | 65 | €159 | €128 | -€31 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€981 | €31,816 | +€32,797 | |
| Income taxes | 67/77 | €7 | €0 | -€7 | -100% |
| Profit (loss) for the period | 9904 | -€988 | €31,816 | +€32,804 | |
| Profit (loss) for the period to be appropriated | 9905 | -€988 | €31,816 | +€32,804 |
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 13 October 2026 via checked.be.