CYAGO: 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.
CYAGO
Largest movements
- Stocks and contracts +€639,723
up €639,723 (+147%), from €433,720 to €1.1m
of which Contracts in progress: +€612,493
- Tangible fixed assets -€55,110
down €55,110 (-16.1%), from €341,757 to €286,646
of which Plant, machinery and equipment: -€42,760
- Receivables within one year +€31,383
up €31,383 (+6.9%), from €455,472 to €486,854
of which Trade receivables: +€130,030
- Advances received +€360,341
up €360,341 (+225%), from €160,190 to €520,531
- Debts after one year +€285,792
up €285,792 (+62.5%), from €457,259 to €743,051
- Other debts -€191,910
down €191,910 (-100%), from €191,910 to €0
- Trade debts +€136,925
up €136,925 (+78.1%), from €175,285 to €312,211
- Current portion of long-term debt +€58,446
up €58,446 (+381%), from €15,329 to €73,775
- Staff costs +€58,782
up €58,782 (+16.6%), from €354,023 to €412,804
- Gross operating margin +€51,071
up €51,071 (+9.5%), from €537,222 to €588,294
- Depreciation +€8,394
up €8,394 (+7.1%), from €117,950 to €126,344
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 | €1,446,914 | €2,058,881 | +€611,967 | +42.3% |
| Formation expenses | 20 | €24,477 | €20,307 | -€4,170 | -17.0% |
| Fixed assets | 21/28 | €497,831 | €455,405 | -€42,426 | -8.5% |
| Intangible fixed assets | 21 | €133,470 | €146,154 | +€12,684 | +9.5% |
| Tangible fixed assets | 22/27 | €341,757 | €286,646 | -€55,110 | -16.1% |
| Plant, machinery and equipment | 23 | €172,907 | €130,147 | -€42,760 | -24.7% |
| Furniture and vehicles | 24 | €69,166 | €65,091 | -€4,075 | -5.9% |
| Other tangible fixed assets | 26 | €99,683 | €91,407 | -€8,276 | -8.3% |
| Financial fixed assets | 28 | €22,605 | €22,605 | = | 0.0% |
| Current assets | 29/58 | €924,606 | €1,583,169 | +€658,563 | +71.2% |
| Stocks and contracts in progress | 3 | €433,720 | €1,073,443 | +€639,723 | +147% |
| Stocks | 30/36 | €306,805 | €334,035 | +€27,230 | +8.9% |
| Contracts in progress | 37 | €126,915 | €739,408 | +€612,493 | +483% |
| Amounts receivable within one year | 40/41 | €455,472 | €486,854 | +€31,383 | +6.9% |
| Trade receivables | 40 | €305,893 | €435,924 | +€130,030 | +42.5% |
| Other amounts receivable | 41 | €149,578 | €50,931 | -€98,648 | -66.0% |
| Cash at bank and in hand | 54/58 | €11,693 | €10,278 | -€1,415 | -12.1% |
| Deferred charges and accrued income | 490/1 | €23,721 | €12,593 | -€11,128 | -46.9% |
| Total equity and liabilities | 10/49 | €1,446,914 | €2,058,881 | +€611,967 | +42.3% |
| Equity | 10/15 | €388,209 | €391,614 | +€3,405 | +0.9% |
| Contributions | 10/11 | €273,307 | €273,307 | = | 0.0% |
| Capital | 10 | €273,307 | €273,307 | = | 0.0% |
| Issued capital | 100 | €273,307 | €273,307 | = | 0.0% |
| Reserves | 13 | €114,902 | €118,307 | +€3,405 | +3.0% |
| Non-distributable reserves | 130/1 | €181 | €181 | = | 0.0% |
| Legal reserve | 130 | €181 | €181 | = | 0.0% |
| Distributable reserves | 133 | €114,721 | €118,126 | +€3,405 | +3.0% |
| Amounts payable | 17/49 | €1,058,706 | €1,667,267 | +€608,561 | +57.5% |
| Amounts payable after more than one year | 17 | €457,259 | €743,051 | +€285,792 | +62.5% |
| Financial debts | 170/4 | €457,259 | €743,051 | +€285,792 | +62.5% |
| Amounts payable within one year | 42/48 | €567,136 | €921,851 | +€354,715 | +62.5% |
| Current portion of amounts payable after more than one year | 42 | €15,329 | €73,775 | +€58,446 | +381% |
| Trade debts | 44 | €175,285 | €312,211 | +€136,925 | +78.1% |
| Suppliers | 440/4 | €175,285 | €312,211 | +€136,925 | +78.1% |
| Advances received on contracts in progress | 46 | €160,190 | €520,531 | +€360,341 | +225% |
| Taxes, remuneration and social security | 45 | €24,421 | €15,334 | -€9,087 | -37.2% |
| Taxes | 450/3 | €8,664 | €7,670 | -€993 | -11.5% |
| Remuneration and social security | 454/9 | €15,757 | €7,664 | -€8,094 | -51.4% |
| Other amounts payable | 47/48 | €191,910 | €0 | -€191,910 | -100% |
| Accrued charges and deferred income | 492/3 | €34,311 | €2,365 | -€31,946 | -93.1% |
| Remuneration, social security and pensions | 62 | €354,023 | €412,804 | +€58,782 | +16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,950 | €126,344 | +€8,394 | +7.1% |
| Other operating charges | 640/8 | €2,068 | €2,533 | +€465 | +22.5% |
| Gross operating margin | 9900 | €537,222 | €588,294 | +€51,071 | +9.5% |
| Operating profit (loss) | 9901 | €63,182 | €46,613 | -€16,569 | -26.2% |
| Financial income | 75/76B | - | €934 | +€934 | |
| Recurring financial income | 75 | - | €934 | +€934 | |
| Financial charges | 65/66B | €38,757 | €41,888 | +€3,130 | +8.1% |
| Recurring financial charges | 65 | €38,757 | €41,888 | +€3,130 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | €24,424 | €5,659 | -€18,766 | -76.8% |
| Income taxes | 67/77 | €3,747 | €2,254 | -€1,493 | -39.8% |
| Profit (loss) for the period | 9904 | €20,678 | €3,405 | -€17,273 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,678 | €3,405 | -€17,273 | -83.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.