CYCLO: 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.
CYCLO
Largest movements
- Cash +€533,201
up €533,201 (+195.7%), from €272,517 to €805,718
mainly Current investments (+€345,730) and Provisions (+€123,786)
- Current investments -€345,730
down €345,730 (-57.6%), from €600,000 to €254,270
- Receivables within one year -€55,189
down €55,189 (-13.0%), from €424,566 to €369,377
of which Other amounts receivable: -€38,489
- Tangible fixed assets -€25,358
down €25,358 (-34.3%), from €73,982 to €48,624
- Deferred charges and accrued income -€22,725
down €22,725 (-77.4%), from €29,352 to €6,627
- Provisions +€123,786
up €123,786 (+59.2%), from €209,184 to €332,970
- Accrued charges and deferred income -€99,644
down €99,644 (-83.1%), from €119,859 to €20,215
- Debts within one year +€54,925
up €54,925 (+11.5%), from €479,567 to €534,492
- Gross operating margin -€102,292
down €102,292 (-2.9%), from €3.6m to €3.5m
- Staff costs -€48,420
down €48,420 (-1.4%), from €3.4m to €3.3m
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 | €1,805,975 | €1,883,449 | +€77,474 | +4.3% |
| Fixed assets | 21/28 | €87,202 | €61,940 | -€25,262 | -29.0% |
| Tangible fixed assets | 22/27 | €73,982 | €48,624 | -€25,358 | -34.3% |
| Plant, machinery and equipment | 23 | €28,906 | €19,437 | -€9,469 | -32.8% |
| Furniture and vehicles | 24 | €7,355 | €4,088 | -€3,267 | -44.4% |
| Other tangible fixed assets | 26 | €37,721 | €25,098 | -€12,623 | -33.5% |
| Financial fixed assets | 28 | €13,220 | €13,316 | +€96 | +0.7% |
| Current assets | 29/58 | €1,718,772 | €1,821,509 | +€102,737 | +6.0% |
| Stocks and contracts in progress | 3 | €392,337 | €385,517 | -€6,820 | -1.7% |
| Stocks | 30/36 | €392,337 | €385,517 | -€6,820 | -1.7% |
| Amounts receivable within one year | 40/41 | €424,566 | €369,377 | -€55,189 | -13.0% |
| Trade receivables | 40 | €54,841 | €38,141 | -€16,700 | -30.5% |
| Other amounts receivable | 41 | €369,725 | €331,236 | -€38,489 | -10.4% |
| Current investments | 50/53 | €600,000 | €254,270 | -€345,730 | -57.6% |
| Cash at bank and in hand | 54/58 | €272,517 | €805,718 | +€533,201 | +195.7% |
| Deferred charges and accrued income | 490/1 | €29,352 | €6,627 | -€22,725 | -77.4% |
| Total equity and liabilities | 10/49 | €1,805,975 | €1,883,449 | +€77,474 | +4.3% |
| Equity | 10/15 | €997,364 | €995,772 | -€1,592 | -0.2% |
| Contributions | 10/11 | €15,284 | €15,284 | = | 0.0% |
| Capital | 10 | €15,284 | €15,284 | = | 0.0% |
| Reserves | 13 | €838,105 | €848,663 | +€10,557 | +1.3% |
| Profit (loss) carried forward | 14 | €132,245 | €124,081 | -€8,164 | -6.2% |
| Investment grants | 15 | €11,730 | €7,744 | -€3,985 | -34.0% |
| Provisions and deferred taxes | 16 | €209,184 | €332,970 | +€123,786 | +59.2% |
| Provisions for liabilities and charges | 160/5 | €63,479 | €49,119 | -€14,360 | -22.6% |
| Other liabilities and charges | 164/5 | €63,479 | €49,119 | -€14,360 | -22.6% |
| Amounts payable | 17/49 | €599,427 | €554,707 | -€44,720 | -7.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €479,567 | €534,492 | +€54,925 | +11.5% |
| Trade debts | 44 | €64,672 | €54,518 | -€10,153 | -15.7% |
| Suppliers | 440/4 | €64,672 | €54,518 | -€10,153 | -15.7% |
| Taxes, remuneration and social security | 45 | €328,789 | €349,825 | +€21,036 | +6.4% |
| Taxes | 450/3 | €11,740 | €20,577 | +€8,838 | +75.3% |
| Remuneration and social security | 454/9 | €317,049 | €329,247 | +€12,198 | +3.8% |
| Accrued charges and deferred income | 492/3 | €119,859 | €20,215 | -€99,644 | -83.1% |
| Remuneration, social security and pensions | 62 | €3,362,435 | €3,314,015 | -€48,420 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,202 | €25,358 | -€2,843 | -10.1% |
| Other operating charges | 640/8 | €18,410 | €17,025 | -€1,384 | -7.5% |
| Gross operating margin | 9900 | €3,573,275 | €3,470,983 | -€102,292 | -2.9% |
| Operating profit (loss) | 9901 | €51,211 | -€9,202 | -€60,413 | |
| Financial income | 75/76B | €25,705 | €17,155 | -€8,550 | -33.3% |
| Recurring financial income | 75 | €25,705 | €17,155 | -€8,550 | -33.3% |
| Financial charges | 65/66B | -€7,713 | €1,079 | +€8,792 | |
| Recurring financial charges | 65 | -€7,713 | €1,079 | +€8,792 | |
| Profit (loss) for the period before taxes | 9903 | €84,629 | €6,874 | -€77,755 | -91.9% |
| Income taxes | 67/77 | - | €4,481 | +€4,481 | |
| Profit (loss) for the period | 9904 | €84,629 | €2,394 | -€82,236 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €84,629 | €2,394 | -€82,236 | -97.2% |
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 30 September 2026 via checked.be.