CIRINO: 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.
CIRINO
Largest movements
- Stocks and contracts -€5,600
down €5,600 (-46.7%), from €12,000 to €6,400
- Tangible fixed assets -€5,156
down €5,156 (-25.7%), from €20,047 to €14,892
of which Furniture and vehicles: -€6,268
- Cash +€3,792
up €3,792 (+17.8%), from €21,247 to €25,039
mainly Depreciation (+€7,527) and Stocks and contracts (+€5,600)
- Receivables within one year -€675
down €675 (-23.5%), from €2,876 to €2,201
of which Other amounts receivable: -€675
- Trade debts -€6,993
down €6,993 (-44.1%), from €15,870 to €8,877
- Debts after one year -€5,371
down €5,371 (-43.6%), from €12,312 to €6,941
- Profit (loss) carried forward +€3,445
up €3,445 (+319%), from €1,079 to €4,525
- Tax, wage and social debts +€1,083
up €1,083 (+31.7%), from €3,411 to €4,494
of which Remuneration and social security: +€1,404
- Gross operating margin +€15,263
up €15,263 (+62.7%), from €24,338 to €39,601
- Staff costs +€7,319
up €7,319 (+46.5%), from €15,732 to €23,051
- Depreciation +€4,460
up €4,460 (+145%), from €3,067 to €7,527
- Taxes +€1,469
up €1,469 (+80.3%), from €1,829 to €3,298
- Other operating charges -€1,085
down €1,085 (-49.2%), from €2,205 to €1,120
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 | €58,393 | €50,533 | -€7,860 | -13.5% |
| Fixed assets | 21/28 | €20,097 | €14,941 | -€5,156 | -25.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €20,047 | €14,892 | -€5,156 | -25.7% |
| Plant, machinery and equipment | 23 | €748 | €511 | -€237 | -31.7% |
| Furniture and vehicles | 24 | €19,300 | €13,032 | -€6,268 | -32.5% |
| Other tangible fixed assets | 26 | €0 | €1,349 | +€1,349 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €38,296 | €35,592 | -€2,704 | -7.1% |
| Stocks and contracts in progress | 3 | €12,000 | €6,400 | -€5,600 | -46.7% |
| Contracts in progress | 37 | €12,000 | €6,400 | -€5,600 | -46.7% |
| Amounts receivable within one year | 40/41 | €2,876 | €2,201 | -€675 | -23.5% |
| Trade receivables | 40 | €14 | €14 | = | 0.0% |
| Other amounts receivable | 41 | €2,862 | €2,187 | -€675 | -23.6% |
| Cash at bank and in hand | 54/58 | €21,247 | €25,039 | +€3,792 | +17.8% |
| Deferred charges and accrued income | 490/1 | €2,173 | €1,953 | -€220 | -10.1% |
| Total equity and liabilities | 10/49 | €58,393 | €50,533 | -€7,860 | -13.5% |
| Equity | 10/15 | €21,079 | €24,525 | +€3,445 | +16.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,079 | €4,525 | +€3,445 | +319% |
| Amounts payable | 17/49 | €37,314 | €26,009 | -€11,305 | -30.3% |
| Amounts payable after more than one year | 17 | €12,312 | €6,941 | -€5,371 | -43.6% |
| Financial debts | 170/4 | €12,312 | €6,941 | -€5,371 | -43.6% |
| Amounts payable within one year | 42/48 | €24,980 | €19,052 | -€5,928 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €5,464 | €5,371 | -€93 | -1.7% |
| Trade debts | 44 | €15,870 | €8,877 | -€6,993 | -44.1% |
| Suppliers | 440/4 | €15,870 | €8,877 | -€6,993 | -44.1% |
| Taxes, remuneration and social security | 45 | €3,411 | €4,494 | +€1,083 | +31.7% |
| Taxes | 450/3 | €611 | €290 | -€321 | -52.6% |
| Remuneration and social security | 454/9 | €2,800 | €4,204 | +€1,404 | +50.1% |
| Other amounts payable | 47/48 | €235 | €311 | +€76 | +32.5% |
| Accrued charges and deferred income | 492/3 | €22 | €15 | -€7 | -31.7% |
| Remuneration, social security and pensions | 62 | €15,732 | €23,051 | +€7,319 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,067 | €7,527 | +€4,460 | +145% |
| Other operating charges | 640/8 | €2,205 | €1,120 | -€1,085 | -49.2% |
| Gross operating margin | 9900 | €24,338 | €39,601 | +€15,263 | +62.7% |
| Operating profit (loss) | 9901 | €3,335 | €7,903 | +€4,569 | +137% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,125 | €1,161 | +€35 | +3.2% |
| Recurring financial charges | 65 | €1,125 | €876 | -€250 | -22.2% |
| Non-recurring financial charges | 66B | - | €285 | +€285 | |
| Profit (loss) for the period before taxes | 9903 | €2,209 | €6,744 | +€4,535 | +205% |
| Income taxes | 67/77 | €1,829 | €3,298 | +€1,469 | +80.3% |
| Profit (loss) for the period | 9904 | €380 | €3,445 | +€3,065 | +807% |
| Profit (loss) for the period to be appropriated | 9905 | €380 | €3,445 | +€3,065 | +807% |
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 25 October 2026 via checked.be.