CITCO: 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.
CITCO
Largest movements
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Cash +€181,435
up €181,435 (+212.3%), from €85,457 to €266,892
mainly Current investments (+€200,000) and Net result for the year (+€27,470)
- Tangible fixed assets +€12,856
up €12,856 (+6.0%), from €214,447 to €227,303
of which Furniture and vehicles: +€30,965
- Tax, wage and social debts +€12,051
up €12,051 (+203.0%), from €5,935 to €17,986
- Other debts -€7,919
down €7,919 (-20.4%), from €38,876 to €30,957
- Reserves -€5,087
down €5,087 (-4.0%), from €128,539 to €123,452
of which Distributable reserves: -€5,087
- Gross operating margin +€22,495
up €22,495 (+65.9%), from €34,128 to €56,623
- Taxes +€7,978
up €7,978 (+219.7%), from €3,632 to €11,610
- Financial income +€7,935
up €7,935 (+141.0%), from €5,629 to €13,564
- Other operating charges +€1,321
up €1,321 (+37.1%), from €3,566 to €4,887
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 | €506,084 | €505,152 | -€932 | -0.2% |
| Fixed assets | 21/28 | €214,697 | €227,553 | +€12,856 | +6.0% |
| Tangible fixed assets | 22/27 | €214,447 | €227,303 | +€12,856 | +6.0% |
| Land and buildings | 22 | €207,001 | €188,979 | -€18,022 | -8.7% |
| Plant, machinery and equipment | 23 | €264 | €176 | -€88 | -33.3% |
| Furniture and vehicles | 24 | €7,182 | €38,147 | +€30,965 | +431.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €291,387 | €277,599 | -€13,788 | -4.7% |
| Amounts receivable within one year | 40/41 | €4,741 | €9,500 | +€4,759 | +100.4% |
| Trade receivables | 40 | - | €9,500 | +€9,500 | |
| Other amounts receivable | 41 | €4,741 | - | -€4,741 | |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €85,457 | €266,892 | +€181,435 | +212.3% |
| Deferred charges and accrued income | 490/1 | €1,189 | €1,207 | +€18 | +1.5% |
| Total equity and liabilities | 10/49 | €506,084 | €505,152 | -€932 | -0.2% |
| Equity | 10/15 | €460,905 | €455,818 | -€5,087 | -1.1% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €128,539 | €123,452 | -€5,087 | -4.0% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €110,539 | €105,452 | -€5,087 | -4.6% |
| Profit (loss) carried forward | 14 | €152,366 | €152,366 | = | 0.0% |
| Amounts payable | 17/49 | €45,179 | €49,334 | +€4,155 | +9.2% |
| Amounts payable within one year | 42/48 | €45,179 | €49,334 | +€4,155 | +9.2% |
| Trade debts | 44 | €368 | €390 | +€22 | +6.1% |
| Suppliers | 440/4 | €368 | €390 | +€22 | +6.1% |
| Taxes, remuneration and social security | 45 | €5,935 | €17,986 | +€12,051 | +203.0% |
| Taxes | 450/3 | €5,935 | €17,986 | +€12,051 | +203.0% |
| Other amounts payable | 47/48 | €38,876 | €30,957 | -€7,919 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,401 | €26,142 | -€259 | -1.0% |
| Other operating charges | 640/8 | €3,566 | €4,887 | +€1,321 | +37.1% |
| Gross operating margin | 9900 | €34,128 | €56,623 | +€22,495 | +65.9% |
| Operating profit (loss) | 9901 | €4,161 | €25,593 | +€21,432 | +515.1% |
| Financial income | 75/76B | €5,629 | €13,564 | +€7,935 | +141.0% |
| Recurring financial income | 75 | €5,629 | €13,564 | +€7,935 | +141.0% |
| Financial charges | 65/66B | €67 | €77 | +€10 | +15.4% |
| Recurring financial charges | 65 | €67 | €77 | +€10 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €9,723 | €39,080 | +€29,357 | +301.9% |
| Income taxes | 67/77 | €3,632 | €11,610 | +€7,978 | +219.7% |
| Profit (loss) for the period | 9904 | €6,092 | €27,470 | +€21,379 | +350.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,092 | €27,470 | +€21,379 | +350.9% |
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 9 October 2026 via checked.be.