CYC MANAGEMENT: 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.
CYC MANAGEMENT
Largest movements
- Receivables within one year -€26,490
down €26,490 (-23.0%), from €115,184 to €88,694
of which Other amounts receivable: -€41,359
- Tangible fixed assets +€17,664
up €17,664 (+17.8%), from €99,064 to €116,728
of which Land and buildings: +€16,728
- Tax, wage and social debts +€50,352
up €50,352 (+137%), from €36,833 to €87,185
- Trade debts -€25,270
down €25,270 (-75.2%), from €33,591 to €8,320
- Other debts -€16,873
no longer reported in 2025 (was €16,873)
- Debts after one year -€7,652
down €7,652 (-11.2%), from €68,492 to €60,840
- Current portion of long-term debt -€3,438
down €3,438 (-14.0%), from €24,604 to €21,165
- Gross operating margin +€34,208
up €34,208 (+28.4%), from €120,552 to €154,760
- Depreciation +€16,781
up €16,781 (+280%), from €6,004 to €22,785
- Taxes +€4,780
up €4,780 (+15.9%), from €30,040 to €34,820
- Financial charges +€2,176
up €2,176 (+81.9%), from €2,657 to €4,832
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 | €294,588 | €288,416 | -€6,172 | -2.1% |
| Fixed assets | 21/28 | €99,064 | €116,728 | +€17,664 | +17.8% |
| Tangible fixed assets | 22/27 | €99,064 | €116,728 | +€17,664 | +17.8% |
| Land and buildings | 22 | €40,280 | €57,009 | +€16,728 | +41.5% |
| Furniture and vehicles | 24 | €58,783 | €59,719 | +€936 | +1.6% |
| Current assets | 29/58 | €195,524 | €171,688 | -€23,836 | -12.2% |
| Amounts receivable after more than one year | 29 | €52,500 | €52,500 | = | 0.0% |
| Other amounts receivable | 291 | €52,500 | €52,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €115,184 | €88,694 | -€26,490 | -23.0% |
| Trade receivables | 40 | €31,121 | €45,990 | +€14,870 | +47.8% |
| Other amounts receivable | 41 | €84,064 | €42,704 | -€41,359 | -49.2% |
| Cash at bank and in hand | 54/58 | €26,638 | €27,548 | +€910 | +3.4% |
| Deferred charges and accrued income | 490/1 | €1,201 | €2,946 | +€1,744 | +145% |
| Total equity and liabilities | 10/49 | €294,588 | €288,416 | -€6,172 | -2.1% |
| Equity | 10/15 | €114,195 | €110,838 | -€3,356 | -2.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,700 | €9,700 | = | 0.0% |
| Distributable reserves | 133 | €9,700 | €9,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,495 | €98,138 | -€3,356 | -3.3% |
| Amounts payable | 17/49 | €180,393 | €177,578 | -€2,815 | -1.6% |
| Amounts payable after more than one year | 17 | €68,492 | €60,840 | -€7,652 | -11.2% |
| Financial debts | 170/4 | €68,492 | €60,840 | -€7,652 | -11.2% |
| Amounts payable within one year | 42/48 | €111,901 | €116,671 | +€4,770 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €24,604 | €21,165 | -€3,438 | -14.0% |
| Trade debts | 44 | €33,591 | €8,320 | -€25,270 | -75.2% |
| Suppliers | 440/4 | €33,591 | €8,320 | -€25,270 | -75.2% |
| Taxes, remuneration and social security | 45 | €36,833 | €87,185 | +€50,352 | +137% |
| Taxes | 450/3 | €36,833 | €87,185 | +€50,352 | +137% |
| Other amounts payable | 47/48 | €16,873 | - | -€16,873 | |
| Accrued charges and deferred income | 492/3 | - | €67 | +€67 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,004 | €22,785 | +€16,781 | +280% |
| Other operating charges | 640/8 | €89 | €517 | +€428 | +481% |
| Gross operating margin | 9900 | €120,552 | €154,760 | +€34,208 | +28.4% |
| Operating profit (loss) | 9901 | €114,459 | €131,457 | +€16,998 | +14.9% |
| Financial income | 75/76B | €5,343 | €4,839 | -€504 | -9.4% |
| Recurring financial income | 75 | €5,343 | €4,839 | -€504 | -9.4% |
| Financial charges | 65/66B | €2,657 | €4,832 | +€2,176 | +81.9% |
| Recurring financial charges | 65 | €2,657 | €4,832 | +€2,176 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | €117,146 | €131,464 | +€14,318 | +12.2% |
| Income taxes | 67/77 | €30,040 | €34,820 | +€4,780 | +15.9% |
| Profit (loss) for the period | 9904 | €87,105 | €96,644 | +€9,538 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,105 | €96,644 | +€9,538 | +11.0% |
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 23 October 2026 via checked.be.