Cyclops: 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.
Cyclops
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-38.4%), from €2.8m to €1.7m
of which Trade receivables: -€1.5m
- Cash +€600,786
up €600,786 (+85.8%), from €700,039 to €1.3m
mainly Receivables within one year (+€1.1m) and Net result for the year (+€214,217)
- Receivables after one year -€80,000
down €80,000 (-100.0%), from €80,000 to €0
- Tangible fixed assets +€61,190
up €61,190 (+174.4%), from €35,084 to €96,274
of which Furniture and vehicles: +€52,237
- Other debts -€256,875
down €256,875 (-99.5%), from €258,250 to €1,374
- Trade debts -€125,051
down €125,051 (-14.0%), from €896,061 to €771,010
- Accrued charges and deferred income -€100,746
down €100,746 (-80.6%), from €125,000 to €24,254
- Debts after one year +€100,000
up €100,000 (+14.3%), from €700,000 to €800,000
- Tax, wage and social debts -€82,569
down €82,569 (-18.5%), from €445,817 to €363,248
of which Taxes: -€45,102
- Gross operating margin -€502,107
down €502,107 (-11.7%), from €4.3m to €3.8m
- Taxes -€134,478
down €134,478 (-56.0%), from €240,185 to €105,707
- Staff costs -€43,731
down €43,731 (-1.3%), 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 | €3,739,621 | €3,269,544 | -€470,077 | -12.6% |
| Fixed assets | 21/28 | €77,604 | €132,597 | +€54,993 | +70.9% |
| Intangible fixed assets | 21 | €31,274 | €35,677 | +€4,404 | +14.1% |
| Tangible fixed assets | 22/27 | €35,084 | €96,274 | +€61,190 | +174.4% |
| Plant, machinery and equipment | 23 | €22,929 | €10,627 | -€12,302 | -53.7% |
| Furniture and vehicles | 24 | €10,160 | €62,397 | +€52,237 | +514.1% |
| Other tangible fixed assets | 26 | €1,994 | €23,250 | +€21,255 | +1065.7% |
| Financial fixed assets | 28 | €11,247 | €646 | -€10,601 | -94.3% |
| Current assets | 29/58 | €3,662,016 | €3,136,947 | -€525,069 | -14.3% |
| Amounts receivable after more than one year | 29 | €80,000 | €0 | -€80,000 | -100.0% |
| Other amounts receivable | 291 | €80,000 | €0 | -€80,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,762,410 | €1,700,505 | -€1.1m | -38.4% |
| Trade receivables | 40 | €2,589,137 | €1,112,852 | -€1.5m | -57.0% |
| Other amounts receivable | 41 | €173,273 | €587,653 | +€414,379 | +239.1% |
| Cash at bank and in hand | 54/58 | €700,039 | €1,300,825 | +€600,786 | +85.8% |
| Deferred charges and accrued income | 490/1 | €119,567 | €135,617 | +€16,050 | +13.4% |
| Total equity and liabilities | 10/49 | €3,739,621 | €3,269,544 | -€470,077 | -12.6% |
| Equity | 10/15 | €1,024,669 | €1,028,886 | +€4,217 | +0.4% |
| Contributions | 10/11 | €36,200 | €36,200 | = | 0.0% |
| Reserves | 13 | €988,469 | €992,686 | +€4,217 | +0.4% |
| Distributable reserves | 133 | €988,469 | €992,686 | +€4,217 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,714,952 | €2,240,658 | -€474,294 | -17.5% |
| Amounts payable after more than one year | 17 | €700,000 | €800,000 | +€100,000 | +14.3% |
| Financial debts | 170/4 | €700,000 | €800,000 | +€100,000 | +14.3% |
| Amounts payable within one year | 42/48 | €1,889,952 | €1,416,404 | -€473,547 | -25.1% |
| Financial debts | 43 | €289,825 | €280,772 | -€9,053 | -3.1% |
| Credit institutions | 430/8 | €289,825 | €280,772 | -€9,053 | -3.1% |
| Trade debts | 44 | €896,061 | €771,010 | -€125,051 | -14.0% |
| Suppliers | 440/4 | €896,061 | €771,010 | -€125,051 | -14.0% |
| Taxes, remuneration and social security | 45 | €445,817 | €363,248 | -€82,569 | -18.5% |
| Taxes | 450/3 | €109,852 | €64,750 | -€45,102 | -41.1% |
| Remuneration and social security | 454/9 | €335,965 | €298,498 | -€37,466 | -11.2% |
| Other amounts payable | 47/48 | €258,250 | €1,374 | -€256,875 | -99.5% |
| Accrued charges and deferred income | 492/3 | €125,000 | €24,254 | -€100,746 | -80.6% |
| Non-recurring operating income | 76A | €12,888 | €0 | -€12,888 | -100.0% |
| Remuneration, social security and pensions | 62 | €3,375,126 | €3,331,396 | -€43,731 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,968 | €44,317 | -€1,652 | -3.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €7,842 | €10,211 | +€2,369 | +30.2% |
| Non-recurring operating charges | 66A | €612 | €0 | -€612 | -100.0% |
| Gross operating margin | 9900 | €4,299,708 | €3,797,600 | -€502,107 | -11.7% |
| Operating profit (loss) | 9901 | €870,158 | €411,677 | -€458,481 | -52.7% |
| Financial income | 75/76B | €19,715 | €14,911 | -€4,804 | -24.4% |
| Recurring financial income | 75 | €19,715 | €14,911 | -€4,804 | -24.4% |
| Financial charges | 65/66B | €104,301 | €106,664 | +€2,363 | +2.3% |
| Recurring financial charges | 65 | €104,301 | €106,664 | +€2,363 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €785,572 | €319,924 | -€465,648 | -59.3% |
| Income taxes | 67/77 | €240,185 | €105,707 | -€134,478 | -56.0% |
| Profit (loss) for the period | 9904 | €545,387 | €214,217 | -€331,170 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €545,387 | €214,217 | -€331,170 | -60.7% |
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 8 October 2026 via checked.be.