Cyfré: what changed
Two financial 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.
Cyfré
Largest movements
- Cash -€20,224
down €20,224 (-24.3%), from €83,115 to €62,891
mainly Contributions, distributions and other (-€100,000) and Smaller working-capital items (-€25)
- Tangible fixed assets -€10,461
down €10,461 (-12.3%), from €85,015 to €74,555
- Reserves -€31,021
down €31,021 (-97.9%), from €31,687 to €667
of which Distributable reserves: -€31,021
- Gross operating margin +€25,372
up €25,372 (+27.3%), from €92,880 to €118,252
- Taxes +€7,354
up €7,354 (+44.8%), from €16,404 to €23,758
- Depreciation -€2,327
down €2,327 (-18.2%), from €12,788 to €10,461
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,985 | €139,338 | -€30,646 | -18.0% |
| Fixed assets | 21/28 | €85,015 | €74,555 | -€10,461 | -12.3% |
| Tangible fixed assets | 22/27 | €85,015 | €74,555 | -€10,461 | -12.3% |
| Land and buildings | 22 | €85,015 | €74,555 | -€10,461 | -12.3% |
| Current assets | 29/58 | €84,969 | €64,784 | -€20,186 | -23.8% |
| Cash at bank and in hand | 54/58 | €83,115 | €62,891 | -€20,224 | -24.3% |
| Deferred charges and accrued income | 490/1 | €1,855 | €1,893 | +€39 | +2.1% |
| Total equity and liabilities | 10/49 | €169,985 | €139,338 | -€30,646 | -18.0% |
| Equity | 10/15 | €40,948 | €9,927 | -€31,021 | -75.8% |
| Contributions | 10/11 | €8,450 | €8,450 | = | 0.0% |
| Reserves | 13 | €31,687 | €667 | -€31,021 | -97.9% |
| Tax-exempt reserves | 132 | €534 | €534 | = | 0.0% |
| Distributable reserves | 133 | €31,153 | €133 | -€31,021 | -99.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €811 | €811 | = | 0.0% |
| Provisions and deferred taxes | 16 | €270 | €270 | = | 0.0% |
| Deferred taxes | 168 | €270 | €270 | = | 0.0% |
| Amounts payable | 17/49 | €128,766 | €129,141 | +€374 | +0.3% |
| Amounts payable after more than one year | 17 | €27,383 | €27,383 | = | 0.0% |
| Other amounts payable | 178/9 | €27,383 | €27,383 | = | 0.0% |
| Amounts payable within one year | 42/48 | €101,383 | €101,757 | +€374 | +0.4% |
| Trade debts | 44 | - | €14 | +€14 | |
| Suppliers | 440/4 | - | €14 | +€14 | |
| Taxes, remuneration and social security | 45 | €1,383 | €1,744 | +€361 | +26.1% |
| Taxes | 450/3 | €1,383 | €1,744 | +€361 | +26.1% |
| Other amounts payable | 47/48 | €100,000 | €100,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,788 | €10,461 | -€2,327 | -18.2% |
| Other operating charges | 640/8 | €15,207 | €14,772 | -€435 | -2.9% |
| Gross operating margin | 9900 | €92,880 | €118,252 | +€25,372 | +27.3% |
| Operating profit (loss) | 9901 | €64,885 | €93,019 | +€28,134 | +43.4% |
| Financial income | 75/76B | €140 | €99 | -€42 | -29.9% |
| Recurring financial income | 75 | €140 | €99 | -€42 | -29.9% |
| Financial charges | 65/66B | €416 | €380 | -€37 | -8.8% |
| Recurring financial charges | 65 | €416 | €380 | -€37 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €64,609 | €92,738 | +€28,129 | +43.5% |
| Income taxes | 67/77 | €16,404 | €23,758 | +€7,354 | +44.8% |
| Profit (loss) for the period | 9904 | €48,205 | €68,979 | +€20,774 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,205 | €68,979 | +€20,774 | +43.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.