CYCLUS: 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.
CYCLUS
Largest movements
- Stocks and contracts -€42,484
no longer reported in 2025 (was €42,484)
- Cash -€15,798
down €15,798 (-92.7%), from €17,035 to €1,238
mainly Provisions (-€42,484) and Net result for the year (-€15,793)
- Receivables within one year +€1,113
up €1,113 (+21.1%), from €5,281 to €6,394
- Provisions -€42,484
no longer reported in 2025 (was €42,484)
- Profit (loss) carried forward -€15,793
down €15,793 (-8.4%), from -€188,916 to -€204,709
- Other debts +€12,098
up €12,098 (+86.5%), from €13,985 to €26,084
- Trade debts -€11,315
down €11,315 (-97.5%), from €11,602 to €287
- Provisions -€84,968
down €84,968, from €42,484 to -€42,484
- Gross operating margin -€34,697
down €34,697 (-153.6%), from -€22,586 to -€57,283
- Other operating charges -€1,544
down €1,544 (-73.8%), from €2,093 to €549
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 | €96,239 | €38,197 | -€58,042 | -60.3% |
| Fixed assets | 21/28 | €30,923 | €30,565 | -€358 | -1.2% |
| Tangible fixed assets | 22/27 | €30,923 | €30,565 | -€358 | -1.2% |
| Land and buildings | 22 | €30,565 | €30,565 | = | 0.0% |
| Furniture and vehicles | 24 | €358 | - | -€358 | |
| Current assets | 29/58 | €65,316 | €7,632 | -€57,684 | -88.3% |
| Stocks and contracts in progress | 3 | €42,484 | - | -€42,484 | |
| Contracts in progress | 37 | €42,484 | - | -€42,484 | |
| Amounts receivable within one year | 40/41 | €5,281 | €6,394 | +€1,113 | +21.1% |
| Other amounts receivable | 41 | €5,281 | €6,394 | +€1,113 | +21.1% |
| Cash at bank and in hand | 54/58 | €17,035 | €1,238 | -€15,798 | -92.7% |
| Deferred charges and accrued income | 490/1 | €515 | - | -€515 | |
| Total equity and liabilities | 10/49 | €96,239 | €38,197 | -€58,042 | -60.3% |
| Equity | 10/15 | -€168,465 | -€184,258 | -€15,793 | -9.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,916 | -€204,709 | -€15,793 | -8.4% |
| Provisions and deferred taxes | 16 | €42,484 | - | -€42,484 | |
| Provisions for liabilities and charges | 160/5 | €42,484 | - | -€42,484 | |
| Other liabilities and charges | 164/5 | €42,484 | - | -€42,484 | |
| Amounts payable | 17/49 | €222,220 | €222,455 | +€235 | +0.1% |
| Amounts payable after more than one year | 17 | €152,000 | €152,000 | = | 0.0% |
| Other amounts payable | 178/9 | €152,000 | €152,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,071 | €68,855 | +€783 | +1.2% |
| Trade debts | 44 | €11,602 | €287 | -€11,315 | -97.5% |
| Suppliers | 440/4 | €11,602 | €287 | -€11,315 | -97.5% |
| Advances received on contracts in progress | 46 | €42,484 | €42,484 | = | 0.0% |
| Other amounts payable | 47/48 | €13,985 | €26,084 | +€12,098 | +86.5% |
| Accrued charges and deferred income | 492/3 | €2,149 | €1,600 | -€549 | -25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €524 | €358 | -€166 | -31.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €42,484 | -€42,484 | -€84,968 | |
| Other operating charges | 640/8 | €2,093 | €549 | -€1,544 | -73.8% |
| Gross operating margin | 9900 | -€22,586 | -€57,283 | -€34,697 | -153.6% |
| Operating profit (loss) | 9901 | -€67,687 | -€15,705 | +€51,981 | +76.8% |
| Financial income | 75/76B | €0 | €1 | +€1 | +7900.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +7900.0% |
| Financial charges | 65/66B | €62 | €88 | +€26 | +41.0% |
| Recurring financial charges | 65 | €62 | €88 | +€26 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | -€67,749 | -€15,793 | +€51,956 | +76.7% |
| Profit (loss) for the period | 9904 | -€67,749 | -€15,793 | +€51,956 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,749 | -€15,793 | +€51,956 | +76.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.