CISARC: 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.
CISARC
Largest movements
- Tangible fixed assets +€211,836
up €211,836 (+2,360%), from €8,977 to €220,813
of which Land and buildings: +€206,115
- Cash -€46,004
down €46,004 (-56.8%), from €80,977 to €34,973
mainly Investment in fixed assets (net) (-€219,629) and Other debts (-€22,950)
- Receivables within one year +€7,008
up €7,008 (+18.3%), from €38,350 to €45,358
of which Other amounts receivable: +€17,802
- Deferred charges and accrued income +€3,263
up €3,263 (+15.3%), from €21,291 to €24,553
- Debts after one year +€151,088
new in 2025: €151,088
- Profit (loss) carried forward +€45,214
up €45,214 (+48.3%), from €93,586 to €138,800
- Other debts -€22,950
down €22,950 (-100%), from €22,950 to €0
- Current portion of long-term debt +€8,237
new in 2025: €8,237
- Tax, wage and social debts -€5,074
down €5,074 (-100%), from €5,074 to €0
- Gross operating margin +€10,473
up €10,473 (+17.7%), from €59,217 to €69,690
- Financial charges +€3,621
up €3,621 (+2,952%), from €123 to €3,744
- Other operating charges -€2,645
down €2,645 (-73.0%), from €3,625 to €980
- Taxes +€1,263
up €1,263 (+11.5%), from €10,938 to €12,200
- Depreciation +€1,215
up €1,215 (+17.7%), from €6,865 to €8,080
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 | €149,881 | €325,698 | +€175,816 | +117% |
| Formation expenses | 20 | €286 | €0 | -€286 | -100% |
| Fixed assets | 21/28 | €8,977 | €220,813 | +€211,836 | +2,360% |
| Tangible fixed assets | 22/27 | €8,977 | €220,813 | +€211,836 | +2,360% |
| Land and buildings | 22 | - | €206,115 | +€206,115 | |
| Plant, machinery and equipment | 23 | - | €10,943 | +€10,943 | |
| Furniture and vehicles | 24 | €8,977 | €3,755 | -€5,223 | -58.2% |
| Current assets | 29/58 | €140,618 | €104,885 | -€35,733 | -25.4% |
| Amounts receivable within one year | 40/41 | €38,350 | €45,358 | +€7,008 | +18.3% |
| Trade receivables | 40 | €22,850 | €12,056 | -€10,794 | -47.2% |
| Other amounts receivable | 41 | €15,500 | €33,302 | +€17,802 | +115% |
| Cash at bank and in hand | 54/58 | €80,977 | €34,973 | -€46,004 | -56.8% |
| Deferred charges and accrued income | 490/1 | €21,291 | €24,553 | +€3,263 | +15.3% |
| Total equity and liabilities | 10/49 | €149,881 | €325,698 | +€175,816 | +117% |
| Equity | 10/15 | €121,046 | €166,260 | +€45,214 | +37.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,860 | €8,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,586 | €138,800 | +€45,214 | +48.3% |
| Amounts payable | 17/49 | €28,835 | €159,437 | +€130,602 | +453% |
| Amounts payable after more than one year | 17 | - | €151,088 | +€151,088 | |
| Financial debts | 170/4 | - | €151,088 | +€151,088 | |
| Amounts payable within one year | 42/48 | €28,623 | €8,350 | -€20,273 | -70.8% |
| Current portion of amounts payable after more than one year | 42 | - | €8,237 | +€8,237 | |
| Trade debts | 44 | €599 | €113 | -€486 | -81.1% |
| Suppliers | 440/4 | €599 | €113 | -€486 | -81.1% |
| Taxes, remuneration and social security | 45 | €5,074 | €0 | -€5,074 | -100% |
| Taxes | 450/3 | €5,074 | €0 | -€5,074 | -100% |
| Other amounts payable | 47/48 | €22,950 | €0 | -€22,950 | -100% |
| Accrued charges and deferred income | 492/3 | €212 | €0 | -€212 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,865 | €8,080 | +€1,215 | +17.7% |
| Other operating charges | 640/8 | €3,625 | €980 | -€2,645 | -73.0% |
| Gross operating margin | 9900 | €59,217 | €69,690 | +€10,473 | +17.7% |
| Operating profit (loss) | 9901 | €48,728 | €60,631 | +€11,903 | +24.4% |
| Financial income | 75/76B | €230 | €527 | +€297 | +129% |
| Recurring financial income | 75 | €230 | €527 | +€297 | +129% |
| Financial charges | 65/66B | €123 | €3,744 | +€3,621 | +2,952% |
| Recurring financial charges | 65 | €123 | €3,744 | +€3,621 | +2,952% |
| Profit (loss) for the period before taxes | 9903 | €48,835 | €57,415 | +€8,579 | +17.6% |
| Income taxes | 67/77 | €10,938 | €12,200 | +€1,263 | +11.5% |
| Profit (loss) for the period | 9904 | €37,897 | €45,214 | +€7,317 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,897 | €45,214 | +€7,317 | +19.3% |
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 22 October 2026 via checked.be.