CIRKEL: 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.
CIRKEL
Largest movements
- Cash +€13,264
up €13,264 (+5.5%), from €240,318 to €253,583
mainly Depreciation (+€7,250) and Net result for the year (+€4,499)
- Tangible fixed assets -€7,250
down €7,250 (-14.5%), from €49,871 to €42,621
- Reserves +€4,499
up €4,499 (+1.7%), from €259,716 to €264,215
of which Distributable reserves: +€4,499
- Gross operating margin -€730
down €730 (-4.2%), from €17,293 to €16,563
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 | €290,190 | €296,204 | +€6,014 | +2.1% |
| Fixed assets | 21/28 | €49,871 | €42,621 | -€7,250 | -14.5% |
| Tangible fixed assets | 22/27 | €49,871 | €42,621 | -€7,250 | -14.5% |
| Land and buildings | 22 | €49,871 | €42,621 | -€7,250 | -14.5% |
| Current assets | 29/58 | €240,318 | €253,583 | +€13,264 | +5.5% |
| Cash at bank and in hand | 54/58 | €240,318 | €253,583 | +€13,264 | +5.5% |
| Total equity and liabilities | 10/49 | €290,190 | €296,204 | +€6,014 | +2.1% |
| Equity | 10/15 | €281,716 | €286,215 | +€4,499 | +1.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €259,716 | €264,215 | +€4,499 | +1.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €253,516 | €258,015 | +€4,499 | +1.8% |
| Amounts payable | 17/49 | €8,474 | €9,990 | +€1,515 | +17.9% |
| Amounts payable within one year | 42/48 | €8,474 | €9,990 | +€1,515 | +17.9% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €735 | €2,251 | +€1,515 | +206.1% |
| Taxes | 450/3 | €735 | €2,251 | +€1,515 | +206.1% |
| Other amounts payable | 47/48 | €7,739 | €7,739 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,250 | €7,250 | = | 0.0% |
| Other operating charges | 640/8 | €2,272 | €2,340 | +€68 | +3.0% |
| Gross operating margin | 9900 | €17,293 | €16,563 | -€730 | -4.2% |
| Operating profit (loss) | 9901 | €7,771 | €6,973 | -€798 | -10.3% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €233 | €225 | -€8 | -3.5% |
| Recurring financial charges | 65 | €233 | €225 | -€8 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €7,537 | €6,750 | -€787 | -10.4% |
| Income taxes | 67/77 | €2,398 | €2,251 | -€147 | -6.1% |
| Profit (loss) for the period | 9904 | €5,139 | €4,499 | -€640 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,139 | €4,499 | -€640 | -12.5% |
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 8 October 2026 via checked.be.