CITED: 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.
CITED
Largest movements
- Receivables within one year +€36,964
up €36,964 (+58.4%), from €63,262 to €100,225
of which Trade receivables: +€48,599
- Cash +€11,361
new in 2025: €11,361
mainly Tax, wage and social debts (+€27,772) and Trade debts (+€14,358)
- Stocks and contracts -€6,465
down €6,465 (-4.7%), from €137,347 to €130,882
- Tax, wage and social debts +€27,772
up €27,772 (+17.0%), from €162,947 to €190,719
- Trade debts +€14,358
up €14,358 (+70.2%), from €20,442 to €34,800
- Profit (loss) carried forward -€5,499
down €5,499 (-99.4%), from €5,534 to €36
- Short-term financial debts +€4,416
up €4,416 (+63.0%), from €7,007 to €11,423
- Financial charges +€14,794
up €14,794 (+359.4%), from €4,116 to €18,910
- Gross operating margin +€7,510
up €7,510 (+53.9%), from €13,927 to €21,436
- Other operating charges +€679
up €679 (+30.1%), from €2,258 to €2,937
- Depreciation -€309
down €309 (-5.8%), from €5,310 to €5,001
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 | €225,154 | €262,535 | +€37,381 | +16.6% |
| Fixed assets | 21/28 | €20,603 | €18,254 | -€2,349 | -11.4% |
| Intangible fixed assets | 21 | €868 | €285 | -€583 | -67.1% |
| Tangible fixed assets | 22/27 | €12,235 | €10,469 | -€1,766 | -14.4% |
| Land and buildings | 22 | €1,051 | €959 | -€92 | -8.7% |
| Plant, machinery and equipment | 23 | €11,184 | €7,087 | -€4,097 | -36.6% |
| Furniture and vehicles | 24 | - | €2,422 | +€2,422 | |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €204,551 | €244,281 | +€39,730 | +19.4% |
| Stocks and contracts in progress | 3 | €137,347 | €130,882 | -€6,465 | -4.7% |
| Stocks | 30/36 | €137,347 | €130,882 | -€6,465 | -4.7% |
| Amounts receivable within one year | 40/41 | €63,262 | €100,225 | +€36,964 | +58.4% |
| Trade receivables | 40 | €5,756 | €54,355 | +€48,599 | +844.3% |
| Other amounts receivable | 41 | €57,506 | €45,870 | -€11,636 | -20.2% |
| Cash at bank and in hand | 54/58 | - | €11,361 | +€11,361 | |
| Deferred charges and accrued income | 490/1 | €3,943 | €1,813 | -€2,130 | -54.0% |
| Total equity and liabilities | 10/49 | €225,154 | €262,535 | +€37,381 | +16.6% |
| Equity | 10/15 | €27,534 | €22,036 | -€5,499 | -20.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,534 | €36 | -€5,499 | -99.4% |
| Amounts payable | 17/49 | €197,620 | €240,500 | +€42,880 | +21.7% |
| Amounts payable within one year | 42/48 | €196,466 | €240,500 | +€44,033 | +22.4% |
| Financial debts | 43 | €7,007 | €11,423 | +€4,416 | +63.0% |
| Credit institutions | 430/8 | €7,007 | €11,423 | +€4,416 | +63.0% |
| Trade debts | 44 | €20,442 | €34,800 | +€14,358 | +70.2% |
| Suppliers | 440/4 | €20,442 | €34,800 | +€14,358 | +70.2% |
| Taxes, remuneration and social security | 45 | €162,947 | €190,719 | +€27,772 | +17.0% |
| Taxes | 450/3 | €162,947 | €190,719 | +€27,772 | +17.0% |
| Other amounts payable | 47/48 | €6,070 | €3,558 | -€2,512 | -41.4% |
| Accrued charges and deferred income | 492/3 | €1,153 | - | -€1,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,310 | €5,001 | -€309 | -5.8% |
| Other operating charges | 640/8 | €2,258 | €2,937 | +€679 | +30.1% |
| Gross operating margin | 9900 | €13,927 | €21,436 | +€7,510 | +53.9% |
| Operating profit (loss) | 9901 | €6,359 | €13,499 | +€7,140 | +112.3% |
| Financial income | 75/76B | €208 | €44 | -€164 | -78.8% |
| Recurring financial income | 75 | €208 | €44 | -€164 | -78.8% |
| Financial charges | 65/66B | €4,116 | €18,910 | +€14,794 | +359.4% |
| Recurring financial charges | 65 | €4,116 | €18,910 | +€14,794 | +359.4% |
| Profit (loss) for the period before taxes | 9903 | €2,451 | -€5,367 | -€7,818 | |
| Income taxes | 67/77 | €181 | €132 | -€49 | -27.1% |
| Profit (loss) for the period | 9904 | €2,270 | -€5,499 | -€7,769 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,270 | -€5,499 | -€7,769 |
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 12 October 2026 via checked.be.