CISTEO: 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.
CISTEO
Largest movements
- Receivables within one year -€108,942
down €108,942 (-32.4%), from €336,200 to €227,258
of which Trade receivables: -€68,576
- Current investments +€45,560
up €45,560 (+22.7%), from €200,999 to €246,560
- Tangible fixed assets -€32,386
down €32,386 (-4.1%), from €787,133 to €754,747
of which Leasing and similar rights: -€24,496
- Reserves +€401,220
up €401,220 (+170%), from €235,760 to €636,980
of which Distributable reserves: +€317,020
- Profit (loss) carried forward -€221,056
down €221,056 (-100%), from €221,056 to €0
- Other debts -€212,142
down €212,142 (-94.4%), from €224,723 to €12,581
- Debts after one year -€57,353
down €57,353 (-11.0%), from €519,208 to €461,856
- Gross operating margin -€74,296
down €74,296 (-11.5%), from €644,520 to €570,224
- Financial income +€30,483
up €30,483 (+626%), from €4,870 to €35,353
- Depreciation -€14,904
down €14,904 (-26.2%), from €56,943 to €42,039
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 | €1,459,162 | €1,353,957 | -€105,206 | -7.2% |
| Fixed assets | 21/28 | €787,133 | €754,747 | -€32,386 | -4.1% |
| Tangible fixed assets | 22/27 | €787,133 | €754,747 | -€32,386 | -4.1% |
| Land and buildings | 22 | €656,873 | €651,974 | -€4,899 | -0.7% |
| Furniture and vehicles | 24 | €53 | €0 | -€53 | -100% |
| Leasing and similar rights | 25 | €111,239 | €86,743 | -€24,496 | -22.0% |
| Other tangible fixed assets | 26 | €18,968 | €16,030 | -€2,939 | -15.5% |
| Current assets | 29/58 | €672,030 | €599,210 | -€72,820 | -10.8% |
| Amounts receivable within one year | 40/41 | €336,200 | €227,258 | -€108,942 | -32.4% |
| Trade receivables | 40 | €274,870 | €206,294 | -€68,576 | -24.9% |
| Other amounts receivable | 41 | €61,330 | €20,964 | -€40,365 | -65.8% |
| Current investments | 50/53 | €200,999 | €246,560 | +€45,560 | +22.7% |
| Cash at bank and in hand | 54/58 | €111,196 | €115,999 | +€4,803 | +4.3% |
| Deferred charges and accrued income | 490/1 | €23,635 | €9,393 | -€14,242 | -60.3% |
| Total equity and liabilities | 10/49 | €1,459,162 | €1,353,957 | -€105,206 | -7.2% |
| Equity | 10/15 | €521,816 | €701,980 | +€180,164 | +34.5% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €235,760 | €636,980 | +€401,220 | +170% |
| Tax-exempt reserves | 132 | €235,760 | €319,960 | +€84,200 | +35.7% |
| Distributable reserves | 133 | - | €317,020 | +€317,020 | |
| Profit (loss) carried forward | 14 | €221,056 | €0 | -€221,056 | -100% |
| Amounts payable | 17/49 | €937,346 | €651,977 | -€285,369 | -30.4% |
| Amounts payable after more than one year | 17 | €519,208 | €461,856 | -€57,353 | -11.0% |
| Financial debts | 170/4 | €519,208 | €461,856 | -€57,353 | -11.0% |
| Amounts payable within one year | 42/48 | €401,081 | €185,730 | -€215,351 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €57,332 | €59,542 | +€2,211 | +3.9% |
| Trade debts | 44 | €20,679 | €8,217 | -€12,462 | -60.3% |
| Suppliers | 440/4 | €20,679 | €8,217 | -€12,462 | -60.3% |
| Taxes, remuneration and social security | 45 | €98,347 | €105,390 | +€7,043 | +7.2% |
| Taxes | 450/3 | €95,620 | €102,610 | +€6,990 | +7.3% |
| Remuneration and social security | 454/9 | €2,727 | €2,780 | +€53 | +1.9% |
| Other amounts payable | 47/48 | €224,723 | €12,581 | -€212,142 | -94.4% |
| Accrued charges and deferred income | 492/3 | €17,057 | €4,391 | -€12,666 | -74.3% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,943 | €42,039 | -€14,904 | -26.2% |
| Other operating charges | 640/8 | €4,354 | €6,139 | +€1,785 | +41.0% |
| Gross operating margin | 9900 | €644,520 | €570,224 | -€74,296 | -11.5% |
| Operating profit (loss) | 9901 | €583,222 | €522,046 | -€61,176 | -10.5% |
| Financial income | 75/76B | €4,870 | €35,353 | +€30,483 | +626% |
| Recurring financial income | 75 | €4,870 | €35,353 | +€30,483 | +626% |
| Financial charges | 65/66B | €29,263 | €23,666 | -€5,596 | -19.1% |
| Recurring financial charges | 65 | €29,263 | €23,666 | -€5,596 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €558,829 | €533,732 | -€25,097 | -4.5% |
| Income taxes | 67/77 | €137,940 | €132,512 | -€5,428 | -3.9% |
| Profit (loss) for the period | 9904 | €420,889 | €401,220 | -€19,668 | -4.7% |
| Transfer to tax-exempt reserves | 689 | €235,760 | €84,200 | -€151,560 | -64.3% |
| Profit (loss) for the period to be appropriated | 9905 | €185,129 | €317,020 | +€131,892 | +71.2% |
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 26 October 2026 via checked.be.