CIRO: 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.
CIRO
Largest movements
- Cash -€15,492
down €15,492 (-25.7%), from €60,288 to €44,796
mainly Debts after one year (-€8,796) and Net result for the year (-€6,192)
- Tangible fixed assets -€4,382
down €4,382 (-18.9%), from €23,205 to €18,822
of which Furniture and vehicles: -€7,255
- Receivables within one year +€918
new in 2025: €918
of which Trade receivables: +€760
- Debts after one year -€8,796
down €8,796 (-59.0%), from €14,903 to €6,108
- Profit (loss) carried forward -€6,192
down €6,192 (-13.8%), from -€44,714 to -€50,905
- Tax, wage and social debts -€1,982
down €1,982 (-52.5%), from €3,774 to €1,792
- Trade debts -€1,963
no longer reported in 2025 (was €1,963)
- Gross operating margin -€12,266
down €12,266 (-85.8%), from €14,298 to €2,033
- Financial income +€5,375
new in 2025: €5,375
- Staff costs +€665
new in 2025: €665
- Other operating charges +€539
up €539 (+21.4%), from €2,514 to €3,053
- Depreciation +€346
up €346 (+4.2%), from €8,236 to €8,583
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 | €89,534 | €70,802 | -€18,732 | -20.9% |
| Fixed assets | 21/28 | €25,744 | €21,362 | -€4,382 | -17.0% |
| Tangible fixed assets | 22/27 | €23,205 | €18,822 | -€4,382 | -18.9% |
| Plant, machinery and equipment | 23 | €1,633 | €4,505 | +€2,872 | +175.9% |
| Furniture and vehicles | 24 | €21,572 | €14,317 | -€7,255 | -33.6% |
| Financial fixed assets | 28 | €2,539 | €2,539 | = | 0.0% |
| Current assets | 29/58 | €63,790 | €49,441 | -€14,350 | -22.5% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €918 | +€918 | |
| Trade receivables | 40 | - | €760 | +€760 | |
| Other amounts receivable | 41 | - | €159 | +€159 | |
| Cash at bank and in hand | 54/58 | €60,288 | €44,796 | -€15,492 | -25.7% |
| Deferred charges and accrued income | 490/1 | €502 | €726 | +€223 | +44.5% |
| Total equity and liabilities | 10/49 | €89,534 | €70,802 | -€18,732 | -20.9% |
| Equity | 10/15 | €47,595 | €41,403 | -€6,192 | -13.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €30,308 | €30,308 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €24,108 | €24,108 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,714 | -€50,905 | -€6,192 | -13.8% |
| Amounts payable | 17/49 | €41,940 | €29,399 | -€12,541 | -29.9% |
| Amounts payable after more than one year | 17 | €14,903 | €6,108 | -€8,796 | -59.0% |
| Financial debts | 170/4 | €14,903 | €6,108 | -€8,796 | -59.0% |
| Amounts payable within one year | 42/48 | €27,036 | €23,291 | -€3,745 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €8,385 | €8,796 | +€410 | +4.9% |
| Trade debts | 44 | €1,963 | - | -€1,963 | |
| Suppliers | 440/4 | €1,963 | - | -€1,963 | |
| Taxes, remuneration and social security | 45 | €3,774 | €1,792 | -€1,982 | -52.5% |
| Taxes | 450/3 | €3,774 | €1,792 | -€1,982 | -52.5% |
| Other amounts payable | 47/48 | €12,914 | €12,704 | -€210 | -1.6% |
| Remuneration, social security and pensions | 62 | - | €665 | +€665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,236 | €8,583 | +€346 | +4.2% |
| Other operating charges | 640/8 | €2,514 | €3,053 | +€539 | +21.4% |
| Gross operating margin | 9900 | €14,298 | €2,033 | -€12,266 | -85.8% |
| Operating profit (loss) | 9901 | €3,548 | -€10,268 | -€13,815 | |
| Financial income | 75/76B | - | €5,375 | +€5,375 | |
| Recurring financial income | 75 | - | €5,375 | +€5,375 | |
| Financial charges | 65/66B | €934 | €1,133 | +€199 | +21.3% |
| Recurring financial charges | 65 | €934 | €1,133 | +€199 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €2,614 | -€6,026 | -€8,640 | |
| Income taxes | 67/77 | €165 | €166 | +€1 | +0.3% |
| Profit (loss) for the period | 9904 | €2,449 | -€6,192 | -€8,640 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,449 | -€6,192 | -€8,640 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.