CITELEC: what changed
Two fiscal 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.
CITELEC
Largest movements
- Receivables within one year -€37,912
down €37,912 (-63.6%), from €59,623 to €21,711
of which Trade receivables: -€29,257
- Stocks and contracts -€11,710
down €11,710 (-5.0%), from €234,193 to €222,483
- Cash -€4,783
down €4,783 (-35.0%), from €13,663 to €8,881
mainly Trade debts (-€43,746) and Tax, wage and social debts (-€12,985)
- Tangible fixed assets -€4,589
no longer reported in 2025 (was €4,589)
- Trade debts -€43,746
down €43,746 (-76.7%), from €57,061 to €13,314
- Tax, wage and social debts -€12,985
down €12,985 (-53.6%), from €24,237 to €11,252
of which Remuneration and social security: -€8,555
- Current portion of long-term debt -€8,928
no longer reported in 2025 (was €8,928)
- Accrued charges and deferred income +€4,284
new in 2025: €4,284
- Gross operating margin -€3,058
down €3,058 (-7.4%), from €41,304 to €38,246
- Financial charges -€2,581
down €2,581 (-18.5%), from €13,975 to €11,394
- Depreciation -€867
down €867 (-15.9%), from €5,456 to €4,589
- Staff costs -€479
down €479 (-3.1%), from €15,214 to €14,735
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 | €314,077 | €255,181 | -€58,896 | -18.8% |
| Fixed assets | 21/28 | €4,689 | €100 | -€4,589 | -97.9% |
| Tangible fixed assets | 22/27 | €4,589 | - | -€4,589 | |
| Furniture and vehicles | 24 | €4,589 | - | -€4,589 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €309,388 | €255,081 | -€54,307 | -17.6% |
| Stocks and contracts in progress | 3 | €234,193 | €222,483 | -€11,710 | -5.0% |
| Stocks | 30/36 | €234,193 | €222,483 | -€11,710 | -5.0% |
| Amounts receivable within one year | 40/41 | €59,623 | €21,711 | -€37,912 | -63.6% |
| Trade receivables | 40 | €50,703 | €21,447 | -€29,257 | -57.7% |
| Other amounts receivable | 41 | €8,920 | €264 | -€8,656 | -97.0% |
| Cash at bank and in hand | 54/58 | €13,663 | €8,881 | -€4,783 | -35.0% |
| Deferred charges and accrued income | 490/1 | €1,909 | €2,007 | +€98 | +5.1% |
| Total equity and liabilities | 10/49 | €314,077 | €255,181 | -€58,896 | -18.8% |
| Equity | 10/15 | €83,347 | €85,356 | +€2,010 | +2.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €27,092 | €27,092 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,092 | €17,092 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,745 | -€41,735 | +€2,010 | +4.6% |
| Amounts payable | 17/49 | €230,730 | €169,825 | -€60,905 | -26.4% |
| Amounts payable within one year | 42/48 | €230,730 | €165,541 | -€65,189 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €8,928 | - | -€8,928 | |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €57,061 | €13,314 | -€43,746 | -76.7% |
| Suppliers | 440/4 | €57,061 | €13,314 | -€43,746 | -76.7% |
| Taxes, remuneration and social security | 45 | €24,237 | €11,252 | -€12,985 | -53.6% |
| Taxes | 450/3 | €13,426 | €8,996 | -€4,430 | -33.0% |
| Remuneration and social security | 454/9 | €10,811 | €2,256 | -€8,555 | -79.1% |
| Other amounts payable | 47/48 | €15,504 | €15,975 | +€471 | +3.0% |
| Accrued charges and deferred income | 492/3 | - | €4,284 | +€4,284 | |
| Remuneration, social security and pensions | 62 | €15,214 | €14,735 | -€479 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,456 | €4,589 | -€867 | -15.9% |
| Other operating charges | 640/8 | €4,209 | €4,237 | +€28 | +0.7% |
| Gross operating margin | 9900 | €41,304 | €38,246 | -€3,058 | -7.4% |
| Operating profit (loss) | 9901 | €16,426 | €14,686 | -€1,740 | -10.6% |
| Financial income | 75/76B | - | €28 | +€28 | |
| Recurring financial income | 75 | - | €28 | +€28 | |
| Financial charges | 65/66B | €13,975 | €11,394 | -€2,581 | -18.5% |
| Recurring financial charges | 65 | €13,975 | €11,394 | -€2,581 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €2,450 | €3,320 | +€869 | +35.5% |
| Income taxes | 67/77 | €1,343 | €1,310 | -€33 | -2.5% |
| Profit (loss) for the period | 9904 | €1,107 | €2,010 | +€903 | +81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,107 | €2,010 | +€903 | +81.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.