Cycle Squad: 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.
Cycle Squad
Largest movements
- Receivables within one year +€185,469
up €185,469 (+158.2%), from €117,247 to €302,716
of which Trade receivables: +€240,312
- Cash +€22,631
up €22,631 (+4772.4%), from €474 to €23,106
mainly Advances received (+€324,485) and Depreciation (+€5,299)
- Intangible fixed assets +€16,776
new in 2025: €16,776
- Advances received +€324,485
up €324,485 (+4120.4%), from €7,875 to €332,360
- Tax, wage and social debts -€48,018
down €48,018 (-95.6%), from €50,244 to €2,225
of which Taxes: -€49,518
- Profit (loss) carried forward -€35,443
down €35,443 (-15.3%), from €231,555 to €196,112
- Trade debts -€24,377
down €24,377 (-91.5%), from €26,655 to €2,278
- Gross operating margin -€9,117
down €9,117 (-50.3%), from -€18,132 to -€27,249
- Financial income -€2,091
down €2,091 (-62.1%), from €3,367 to €1,277
- Other operating charges +€1,336
up €1,336 (+109.4%), from €1,222 to €2,558
- Financial charges +€621
up €621 (+86.6%), from €717 to €1,338
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 | €385,929 | €605,806 | +€219,876 | +57.0% |
| Fixed assets | 21/28 | €17,883 | €29,584 | +€11,701 | +65.4% |
| Intangible fixed assets | 21 | - | €16,776 | +€16,776 | |
| Tangible fixed assets | 22/27 | €17,883 | €12,808 | -€5,075 | -28.4% |
| Plant, machinery and equipment | 23 | €10,315 | €8,871 | -€1,444 | -14.0% |
| Furniture and vehicles | 24 | €7,568 | €3,937 | -€3,631 | -48.0% |
| Current assets | 29/58 | €368,046 | €576,222 | +€208,175 | +56.6% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117,247 | €302,716 | +€185,469 | +158.2% |
| Trade receivables | 40 | €0 | €240,312 | +€240,312 | |
| Other amounts receivable | 41 | €117,247 | €62,404 | -€54,843 | -46.8% |
| Cash at bank and in hand | 54/58 | €474 | €23,106 | +€22,631 | +4772.4% |
| Deferred charges and accrued income | 490/1 | €325 | €400 | +€75 | +23.1% |
| Total equity and liabilities | 10/49 | €385,929 | €605,806 | +€219,876 | +57.0% |
| Equity | 10/15 | €241,555 | €206,112 | -€35,443 | -14.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,555 | €196,112 | -€35,443 | -15.3% |
| Amounts payable | 17/49 | €144,374 | €399,693 | +€255,319 | +176.8% |
| Amounts payable within one year | 42/48 | €144,374 | €399,693 | +€255,319 | +176.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €26,655 | €2,278 | -€24,377 | -91.5% |
| Suppliers | 440/4 | €26,655 | €2,278 | -€24,377 | -91.5% |
| Advances received on contracts in progress | 46 | €7,875 | €332,360 | +€324,485 | +4120.4% |
| Taxes, remuneration and social security | 45 | €50,244 | €2,225 | -€48,018 | -95.6% |
| Taxes | 450/3 | €50,244 | €725 | -€49,518 | -98.6% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €59,600 | €62,829 | +€3,229 | +5.4% |
| Non-recurring operating income | 76A | €19,676 | €0 | -€19,676 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,469 | €5,299 | -€170 | -3.1% |
| Other operating charges | 640/8 | €1,222 | €2,558 | +€1,336 | +109.4% |
| Gross operating margin | 9900 | -€18,132 | -€27,249 | -€9,117 | -50.3% |
| Operating profit (loss) | 9901 | -€24,823 | -€35,106 | -€10,283 | -41.4% |
| Financial income | 75/76B | €3,367 | €1,277 | -€2,091 | -62.1% |
| Recurring financial income | 75 | €3,367 | €1,277 | -€2,091 | -62.1% |
| Financial charges | 65/66B | €717 | €1,338 | +€621 | +86.6% |
| Recurring financial charges | 65 | €717 | €1,338 | +€621 | +86.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,173 | -€35,168 | -€12,995 | -58.6% |
| Income taxes | 67/77 | €289 | €275 | -€14 | -4.8% |
| Profit (loss) for the period | 9904 | -€22,462 | -€35,443 | -€12,981 | -57.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,462 | -€35,443 | -€12,981 | -57.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.