Citadel Insurance: what changed
Citadel Insurance
Largest movements
- Cash -€126,162
down €126,162 (-65.8%), from €191,628 to €65,465
mainly Debts after one year (-€140,000) and Trade debts (-€18,979)
- Tangible fixed assets -€20,221
down €20,221 (-17.7%), from €114,310 to €94,089
of which Furniture and vehicles: -€18,684
- Receivables within one year -€11,487
down €11,487 (-14.9%), from €77,049 to €65,562
of which Trade receivables: -€77,049
- Debts after one year -€140,000
down €140,000 (-56.0%), from €250,000 to €110,000
- Trade debts -€18,979
down €18,979 (-93.0%), from €20,414 to €1,435
- Gross operating margin -€145,819
down €145,819 (-55.4%), from €263,279 to €117,461
- Taxes -€28,426
down €28,426 (-84.6%), from €33,618 to €5,192
- Other operating charges +€19,721
up €19,721 (+487%), from €4,049 to €23,771
- Depreciation +€10,932
up €10,932 (+66.8%), from €16,375 to €27,307
Change in the result, 31-01-2025 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 31-01-2025 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 31-01-2025 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €386,556 | €225,652 | -€160,904 | -41.6% |
| Fixed assets | 21/28 | €114,310 | €94,139 | -€20,171 | -17.6% |
| Tangible fixed assets | 22/27 | €114,310 | €94,089 | -€20,221 | -17.7% |
| Plant, machinery and equipment | 23 | €9,052 | €7,515 | -€1,537 | -17.0% |
| Furniture and vehicles | 24 | €105,258 | €86,574 | -€18,684 | -17.8% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €272,246 | €131,512 | -€140,733 | -51.7% |
| Amounts receivable within one year | 40/41 | €77,049 | €65,562 | -€11,487 | -14.9% |
| Trade receivables | 40 | €77,049 | - | -€77,049 | |
| Other amounts receivable | 41 | - | €65,562 | +€65,562 | |
| Cash at bank and in hand | 54/58 | €191,628 | €65,465 | -€126,162 | -65.8% |
| Deferred charges and accrued income | 490/1 | €3,569 | €485 | -€3,084 | -86.4% |
| Total equity and liabilities | 10/49 | €386,556 | €225,652 | -€160,904 | -41.6% |
| Equity | 10/15 | €82,524 | €80,362 | -€2,162 | -2.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | - | -€61,500 | |
| Issued capital | 100 | €61,500 | - | -€61,500 | |
| Reserves | 13 | €21,024 | €21,024 | = | 0.0% |
| Distributable reserves | 133 | €21,024 | €21,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,162 | -€2,162 | |
| Amounts payable | 17/49 | €304,032 | €145,290 | -€158,742 | -52.2% |
| Amounts payable after more than one year | 17 | €250,000 | €110,000 | -€140,000 | -56.0% |
| Other amounts payable | 178/9 | €250,000 | €110,000 | -€140,000 | -56.0% |
| Amounts payable within one year | 42/48 | €54,032 | €35,290 | -€18,742 | -34.7% |
| Trade debts | 44 | €20,414 | €1,435 | -€18,979 | -93.0% |
| Suppliers | 440/4 | €20,414 | €1,435 | -€18,979 | -93.0% |
| Taxes, remuneration and social security | 45 | €33,618 | €33,854 | +€236 | +0.7% |
| Taxes | 450/3 | €33,618 | €33,854 | +€236 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,375 | €27,307 | +€10,932 | +66.8% |
| Other operating charges | 640/8 | €4,049 | €23,771 | +€19,721 | +487% |
| Non-recurring operating charges | 66A | - | €60,527 | +€60,527 | |
| Gross operating margin | 9900 | €263,279 | €117,461 | -€145,819 | -55.4% |
| Operating profit (loss) | 9901 | €242,855 | €5,856 | -€236,999 | -97.6% |
| Financial income | 75/76B | €0 | €68 | +€68 | +17,811% |
| Recurring financial income | 75 | €0 | €68 | +€68 | +17,811% |
| Financial charges | 65/66B | €435 | €2,893 | +€2,458 | +565% |
| Recurring financial charges | 65 | €435 | €2,893 | +€2,458 | +565% |
| Profit (loss) for the period before taxes | 9903 | €242,420 | €3,031 | -€239,389 | -98.7% |
| Income taxes | 67/77 | €33,618 | €5,192 | -€28,426 | -84.6% |
| Profit (loss) for the period | 9904 | €208,801 | -€2,162 | -€210,963 | |
| Profit (loss) for the period to be appropriated | 9905 | €208,801 | -€2,162 | -€210,963 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.