CYCLERY: 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.
CYCLERY
Largest movements
- Stocks and contracts +€56,881
up €56,881 (+20.6%), from €276,527 to €333,408
- Receivables within one year -€11,829
down €11,829 (-35.3%), from €33,536 to €21,707
of which Trade receivables: -€11,944
- Cash +€6,732
up €6,732 (+85.4%), from €7,885 to €14,617
mainly Trade debts (+€34,614) and Tax, wage and social debts (+€18,122)
- Tangible fixed assets -€5,188
down €5,188 (-66.1%), from €7,844 to €2,656
of which Other tangible fixed assets: -€3,891
- Trade debts +€34,614
up €34,614 (+71.4%), from €48,455 to €83,070
- Debts after one year -€25,891
down €25,891 (-30.6%), from €84,644 to €58,753
- Tax, wage and social debts +€18,122
up €18,122 (+40.3%), from €44,958 to €63,080
of which Taxes: +€15,116
- Other debts +€12,455
up €12,455 (+560.4%), from €2,223 to €14,678
- Reserves +€9,647
up €9,647 (+13.2%), from €72,912 to €82,558
- Staff costs +€34,285
up €34,285 (+64.8%), from €52,888 to €87,173
- Gross operating margin +€32,206
up €32,206 (+35.7%), from €90,091 to €122,297
- Write-downs +€16,058
up €16,058, from -€13,610 to €2,449
- Depreciation -€8,415
down €8,415 (-55.8%), from €15,084 to €6,669
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 | €332,389 | €378,065 | +€45,676 | +13.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €12,635 | €5,966 | -€6,669 | -52.8% |
| Intangible fixed assets | 21 | €1,884 | €403 | -€1,481 | -78.6% |
| Tangible fixed assets | 22/27 | €7,844 | €2,656 | -€5,188 | -66.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,593 | €1,296 | -€1,297 | -50.0% |
| Other tangible fixed assets | 26 | €5,251 | €1,360 | -€3,891 | -74.1% |
| Financial fixed assets | 28 | €2,906 | €2,906 | = | 0.0% |
| Current assets | 29/58 | €319,754 | €372,099 | +€52,345 | +16.4% |
| Stocks and contracts in progress | 3 | €276,527 | €333,408 | +€56,881 | +20.6% |
| Stocks | 30/36 | €276,527 | €333,408 | +€56,881 | +20.6% |
| Amounts receivable within one year | 40/41 | €33,536 | €21,707 | -€11,829 | -35.3% |
| Trade receivables | 40 | €33,448 | €21,504 | -€11,944 | -35.7% |
| Other amounts receivable | 41 | €89 | €203 | +€115 | +129.5% |
| Cash at bank and in hand | 54/58 | €7,885 | €14,617 | +€6,732 | +85.4% |
| Deferred charges and accrued income | 490/1 | €1,805 | €2,367 | +€561 | +31.1% |
| Total equity and liabilities | 10/49 | €332,389 | €378,065 | +€45,676 | +13.7% |
| Equity | 10/15 | €92,912 | €102,558 | +€9,647 | +10.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €72,912 | €82,558 | +€9,647 | +13.2% |
| Distributable reserves | 133 | €72,912 | €82,558 | +€9,647 | +13.2% |
| Amounts payable | 17/49 | €239,477 | €275,506 | +€36,029 | +15.0% |
| Amounts payable after more than one year | 17 | €84,644 | €58,753 | -€25,891 | -30.6% |
| Financial debts | 170/4 | €84,644 | €58,753 | -€25,891 | -30.6% |
| Amounts payable within one year | 42/48 | €152,798 | €214,719 | +€61,920 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €17,163 | €13,891 | -€3,271 | -19.1% |
| Financial debts | 43 | €40,000 | €40,000 | = | 0.0% |
| Credit institutions | 430/8 | €40,000 | €40,000 | = | 0.0% |
| Trade debts | 44 | €48,455 | €83,070 | +€34,614 | +71.4% |
| Suppliers | 440/4 | €48,455 | €83,070 | +€34,614 | +71.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €44,958 | €63,080 | +€18,122 | +40.3% |
| Taxes | 450/3 | €41,196 | €56,312 | +€15,116 | +36.7% |
| Remuneration and social security | 454/9 | €3,762 | €6,768 | +€3,006 | +79.9% |
| Other amounts payable | 47/48 | €2,223 | €14,678 | +€12,455 | +560.4% |
| Accrued charges and deferred income | 492/3 | €2,035 | €2,035 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €52,888 | €87,173 | +€34,285 | +64.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,084 | €6,669 | -€8,415 | -55.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,610 | €2,449 | +€16,058 | |
| Other operating charges | 640/8 | €773 | €652 | -€121 | -15.6% |
| Non-recurring operating charges | 66A | €15,160 | €0 | -€15,160 | -100.0% |
| Gross operating margin | 9900 | €90,091 | €122,297 | +€32,206 | +35.7% |
| Operating profit (loss) | 9901 | €19,797 | €25,355 | +€5,557 | +28.1% |
| Financial income | 75/76B | €1,467 | €1,103 | -€364 | -24.8% |
| Recurring financial income | 75 | €1,467 | €1,103 | -€364 | -24.8% |
| Financial charges | 65/66B | €12,147 | €12,177 | +€29 | +0.2% |
| Recurring financial charges | 65 | €12,147 | €12,177 | +€29 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €9,117 | €14,280 | +€5,164 | +56.6% |
| Income taxes | 67/77 | €4,021 | €4,634 | +€613 | +15.2% |
| Profit (loss) for the period | 9904 | €5,096 | €9,647 | +€4,551 | +89.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,096 | €9,647 | +€4,551 | +89.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.