Cistem: 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.
Cistem
Largest movements
- Cash -€134,327
down €134,327 (-71.6%), from €187,523 to €53,197
mainly Contributions, distributions and other (-€126,180) and Current investments (-€70,011)
- Current investments +€70,011
new in 2025: €70,011
- Receivables within one year -€9,625
down €9,625 (-17.2%), from €55,935 to €46,310
- Profit (loss) carried forward -€60,273
no longer reported in 2025 (was €60,273)
- Other debts -€9,551
down €9,551 (-7.5%), from €126,929 to €117,378
- Tax, wage and social debts -€4,441
down €4,441 (-12.4%), from €35,684 to €31,243
- Gross operating margin +€14,334
up €14,334 (+20.5%), from €69,881 to €84,216
- Financial income -€6,487
down €6,487 (-98.2%), from €6,605 to €118
of which Non-recurring financial income: -€6,491
- Taxes +€1,415
up €1,415 (+9.3%), from €15,151 to €16,567
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 | €247,182 | €173,638 | -€73,544 | -29.8% |
| Fixed assets | 21/28 | €3,724 | €4,121 | +€397 | +10.7% |
| Tangible fixed assets | 22/27 | €3,724 | €4,121 | +€397 | +10.7% |
| Plant, machinery and equipment | 23 | €0 | €1,170 | +€1,170 | |
| Furniture and vehicles | 24 | €3,724 | €2,950 | -€774 | -20.8% |
| Current assets | 29/58 | €243,458 | €169,517 | -€73,941 | -30.4% |
| Amounts receivable within one year | 40/41 | €55,935 | €46,310 | -€9,625 | -17.2% |
| Trade receivables | 40 | €55,935 | €46,310 | -€9,625 | -17.2% |
| Current investments | 50/53 | - | €70,011 | +€70,011 | |
| Cash at bank and in hand | 54/58 | €187,523 | €53,197 | -€134,327 | -71.6% |
| Total equity and liabilities | 10/49 | €247,182 | €173,638 | -€73,544 | -29.8% |
| Equity | 10/15 | €80,733 | €20,460 | -€60,273 | -74.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,273 | - | -€60,273 | |
| Amounts payable | 17/49 | €166,449 | €153,178 | -€13,271 | -8.0% |
| Amounts payable within one year | 42/48 | €163,449 | €149,778 | -€13,671 | -8.4% |
| Trade debts | 44 | €836 | €1,157 | +€320 | +38.3% |
| Suppliers | 440/4 | €836 | €1,157 | +€320 | +38.3% |
| Taxes, remuneration and social security | 45 | €35,684 | €31,243 | -€4,441 | -12.4% |
| Taxes | 450/3 | €35,684 | €31,243 | -€4,441 | -12.4% |
| Other amounts payable | 47/48 | €126,929 | €117,378 | -€9,551 | -7.5% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,400 | +€400 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €774 | €925 | +€151 | +19.5% |
| Other operating charges | 640/8 | €582 | €585 | +€3 | +0.6% |
| Gross operating margin | 9900 | €69,881 | €84,216 | +€14,334 | +20.5% |
| Operating profit (loss) | 9901 | €68,525 | €82,705 | +€14,180 | +20.7% |
| Financial income | 75/76B | €6,605 | €118 | -€6,487 | -98.2% |
| Recurring financial income | 75 | €114 | €118 | +€4 | +3.3% |
| Non-recurring financial income | 76B | €6,491 | - | -€6,491 | |
| Financial charges | 65/66B | €166 | €350 | +€184 | +111% |
| Recurring financial charges | 65 | €166 | €350 | +€184 | +111% |
| Profit (loss) for the period before taxes | 9903 | €74,965 | €82,473 | +€7,509 | +10.0% |
| Income taxes | 67/77 | €15,151 | €16,567 | +€1,415 | +9.3% |
| Profit (loss) for the period | 9904 | €59,813 | €65,907 | +€6,093 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €59,813 | €65,907 | +€6,093 | +10.2% |
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 13 October 2026 via checked.be.