CIRIL: 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.
What changed
CIRIL
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.1m
2024 · €1.2m+€2.9m
Equity
€29.3m
2024 · €25.2m+€4.1m
Cash
€1.2m
2024 · €1.5m-€350,703
Balance sheet total
€57.5m
2024 · €65.4m-€7.9m
Largest movements
Assets
- Financial fixed assets -€4.7m
down €4.7m (-11.5%), from €41.1m to €36.4m
of which Affiliated companies: -€4.7m
- Stocks and contracts -€1.8m
down €1.8m (-12.6%), from €14.5m to €12.7m
of which Stocks: -€3.5m
- Receivables within one year -€1.1m
down €1.1m (-14.3%), from €7.3m to €6.3m
of which Trade receivables: -€1.9m
Equity and liabilities
- Trade debts -€7.1m
down €7.1m (-56.9%), from €12.4m to €5.3m
- Profit (loss) carried forward +€4.1m
up €4.1m (+21.4%), from €19.0m to €23.1m
- Advances received -€3.1m
down €3.1m (-100%), from €3.1m to €0
- Tax, wage and social debts -€755,367
down €755,367 (-73.4%), from €1.0m to €274,059
of which Taxes: -€692,329
Income statement
- Turnover -€18.3m
down €18.3m (-45.4%), from €40.4m to €22.0m
- Goods and materials -€4.5m
down €4.5m (-18.9%), from €24.0m to €19.4m
of which Purchases: -€17.7m
- Financial income +€1.8m
up €1.8m (+43.7%), from €4.2m to €6.0m
- Financial charges -€1.5m
down €1.5m (-46.6%), from €3.2m to €1.7m
of which Financial charges: -€1.3m
- Write-downs +€1.4m
up €1.4m, from -€1.1m to €342,860
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.
Result 2024
€1.2m
Turnover
-€18.3m
Other operating income
-€7,388
Goods and materials
+€4.5m
Services and other goods
+€481,874
Staff costs
+€56,687
Depreciation
+€35,829
Write-downs
-€1.4m
Other operating charges
+€36,291
Other operating items
+€14.2m
Financial income
+€1.8m
Financial charges
+€1.5m
Taxes
+€35
Result 2025
€4.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€4.5m
Investment
+€4.7m
Financing
-€574,731
Cash 2024
€1.5m
From operations (derived)
-€4.5m
Net result for the year
+€4.1m
Depreciation
+€12,676
Stocks and contracts
+€1.8m
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€105,799
Trade debts
-€7.1m
Tax, wage and social debts
-€755,367
Advances received
-€3.1m
Other debts
-€464,546
Accrued charges and deferred income
+€5,274
Investment (derived)
+€4.7m
Investment in fixed assets (net)
+€4.7m
Financing
-€574,731
Short-term financial debts
-€559,091
Contributions, distributions and other
-€15,640
Cash 2025
€1.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,369,188 | €57,492,197 | -€7.9m | -12.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €41,197,588 | €36,447,621 | -€4.7m | -11.5% |
| Intangible fixed assets | 21 | €5,903 | €2,264 | -€3,639 | -61.6% |
| Tangible fixed assets | 22/27 | €47,913 | €40,604 | -€7,310 | -15.3% |
| Land and buildings | 22 | €42,335 | €37,217 | -€5,118 | -12.1% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €5,578 | €3,387 | -€2,192 | -39.3% |
| Financial fixed assets | 28 | €41,143,772 | €36,404,753 | -€4.7m | -11.5% |
| Affiliated companies | 280/1 | €41,143,772 | €36,404,753 | -€4.7m | -11.5% |
| Participating interests | 280 | €11,305,030 | €10,545,789 | -€759,241 | -6.7% |
| Amounts receivable | 281 | €29,838,742 | €25,858,964 | -€4.0m | -13.3% |
| Companies linked by participating interests | 282/3 | €0 | - | = | |
| Participating interests | 282 | €0 | - | = | |
| Current assets | 29/58 | €24,171,600 | €21,044,576 | -€3.1m | -12.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €14,490,982 | €12,660,193 | -€1.8m | -12.6% |
| Stocks | 30/36 | €10,542,366 | €6,997,787 | -€3.5m | -33.6% |
| Property held for sale | 35 | €10,542,366 | €6,997,787 | -€3.5m | -33.6% |
| Contracts in progress | 37 | €3,948,616 | €5,662,405 | +€1.7m | +43.4% |
| Amounts receivable within one year | 40/41 | €7,335,873 | €6,284,543 | -€1.1m | -14.3% |
| Trade receivables | 40 | €7,291,005 | €5,365,553 | -€1.9m | -26.4% |
| Other amounts receivable | 41 | €44,868 | €918,989 | +€874,121 | +1,948% |
| Cash at bank and in hand | 54/58 | €1,508,574 | €1,157,871 | -€350,703 | -23.2% |
| Deferred charges and accrued income | 490/1 | €836,171 | €941,969 | +€105,799 | +12.7% |
| Total equity and liabilities | 10/49 | €65,369,188 | €57,492,197 | -€7.9m | -12.1% |
| Equity | 10/15 | €25,246,278 | €29,315,366 | +€4.1m | +16.1% |
| Contributions | 10/11 | €4,650,996 | €4,650,996 | = | 0.0% |
| Capital | 10 | €4,650,996 | €4,650,996 | = | 0.0% |
| Issued capital | 100 | €4,650,996 | €4,650,996 | = | 0.0% |
| Reserves | 13 | €1,547,168 | €1,547,168 | = | 0.0% |
| Non-distributable reserves | 130/1 | €748,871 | €748,871 | = | 0.0% |
| Legal reserve | 130 | €465,100 | €465,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €283,772 | €283,772 | = | 0.0% |
| Distributable reserves | 133 | €798,297 | €798,297 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,048,113 | €23,117,201 | +€4.1m | +21.4% |
| Amounts payable | 17/49 | €40,122,910 | €28,176,831 | -€11.9m | -29.8% |
| Amounts payable within one year | 42/48 | €40,099,348 | €28,147,996 | -€12.0m | -29.8% |
| Financial debts | 43 | €17,733,091 | €17,174,000 | -€559,091 | -3.2% |
| Credit institutions | 430/8 | €17,733,091 | €17,174,000 | -€559,091 | -3.2% |
| Trade debts | 44 | €12,402,850 | €5,342,601 | -€7.1m | -56.9% |
| Suppliers | 440/4 | €12,402,850 | €5,342,601 | -€7.1m | -56.9% |
| Advances received on contracts in progress | 46 | €3,112,099 | €0 | -€3.1m | -100% |
| Taxes, remuneration and social security | 45 | €1,029,426 | €274,059 | -€755,367 | -73.4% |
| Taxes | 450/3 | €809,668 | €117,339 | -€692,329 | -85.5% |
| Remuneration and social security | 454/9 | €219,759 | €156,720 | -€63,039 | -28.7% |
| Other amounts payable | 47/48 | €5,821,881 | €5,357,336 | -€464,546 | -8.0% |
| Accrued charges and deferred income | 492/3 | €23,562 | €28,836 | +€5,274 | +22.4% |
| Operating income | 70/76A | €27,982,228 | €23,804,634 | -€4.2m | -14.9% |
| Turnover | 70 | €40,384,134 | €22,049,062 | -€18.3m | -45.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€12,454,536 | €1,711,088 | +€14.2m | |
| Other operating income | 74 | €42,147 | €34,759 | -€7,388 | -17.5% |
| Non-recurring operating income | 76A | €10,483 | €9,725 | -€758 | -7.2% |
| Operating charges | 60/66A | €27,715,082 | €23,960,360 | -€3.8m | -13.5% |
| Goods for resale, raw materials and consumables | 60 | €23,961,462 | €19,423,123 | -€4.5m | -18.9% |
| Purchases | 600/8 | €33,515,691 | €15,852,330 | -€17.7m | -52.7% |
| Change in stocks: decrease (increase) | 609 | -€9,554,229 | €3,570,794 | +€13.1m | |
| Services and other goods | 61 | €3,719,327 | €3,237,453 | -€481,874 | -13.0% |
| Remuneration, social security and pensions | 62 | €980,133 | €923,445 | -€56,687 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,505 | €12,676 | -€35,829 | -73.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,051,438 | €342,860 | +€1.4m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €57,093 | €20,802 | -€36,291 | -63.6% |
| Operating profit (loss) | 9901 | €267,146 | -€155,726 | -€422,872 | |
| Financial income | 75/76B | €4,160,992 | €5,977,976 | +€1.8m | +43.7% |
| Recurring financial income | 75 | €4,160,992 | €5,977,976 | +€1.8m | +43.7% |
| Income from financial fixed assets | 750 | €2,480,098 | €4,617,033 | +€2.1m | +86.2% |
| Income from current assets | 751 | €1,678,741 | €1,352,153 | -€326,589 | -19.5% |
| Other financial income | 752/9 | €2,153 | €8,790 | +€6,638 | +308% |
| Financial charges | 65/66B | €3,249,245 | €1,735,889 | -€1.5m | -46.6% |
| Recurring financial charges | 65 | €2,856,913 | €1,589,434 | -€1.3m | -44.4% |
| Debt charges | 650 | €1,386,308 | €943,340 | -€442,968 | -32.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €1,377,725 | - | -€1.4m | |
| Other financial charges | 652/9 | €92,879 | €646,094 | +€553,214 | +596% |
| Non-recurring financial charges | 66B | €392,333 | €146,455 | -€245,877 | -62.7% |
| Profit (loss) for the period before taxes | 9903 | €1,178,892 | €4,086,361 | +€2.9m | +247% |
| Income taxes | 67/77 | €1,668 | €1,633 | -€35 | -2.1% |
| Taxes | 670/3 | €1,668 | €1,633 | -€35 | -2.1% |
| Profit (loss) for the period | 9904 | €1,177,225 | €4,084,728 | +€2.9m | +247% |
| Profit (loss) for the period to be appropriated | 9905 | €1,177,225 | €4,084,728 | +€2.9m | +247% |
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 14 October 2026 via checked.be.