CYNARA: 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.
CYNARA
Largest movements
- Receivables within one year +€108,360
up €108,360 (+18.3%), from €591,173 to €699,533
of which Other amounts receivable: +€103,199
- Tangible fixed assets -€37,081
down €37,081 (-17.8%), from €208,386 to €171,305
of which Land and buildings: -€26,924
- Trade debts +€76,508
up €76,508 (+63.2%), from €120,988 to €197,496
- Debts after one year -€49,089
down €49,089 (-23.7%), from €206,992 to €157,903
- Profit (loss) carried forward +€40,184
up €40,184 (+11.4%), from €353,301 to €393,486
- Gross operating margin +€38,184
up €38,184 (+14.3%), from €267,391 to €305,575
- Depreciation +€37,058
up €37,058 (+443%), from €8,360 to €45,419
- Staff costs +€14,336
up €14,336 (+8.3%), from €173,375 to €187,711
- Taxes -€14,090
down €14,090 (-51.2%), from €27,539 to €13,449
- Other operating charges -€11,395
down €11,395 (-65.2%), from €17,484 to €6,090
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.
Derived cash bridge
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 | €1,153,189 | €1,215,164 | +€61,975 | +5.4% |
| Fixed assets | 21/28 | €233,897 | €188,478 | -€45,419 | -19.4% |
| Intangible fixed assets | 21 | €24,971 | €16,633 | -€8,338 | -33.4% |
| Tangible fixed assets | 22/27 | €208,386 | €171,305 | -€37,081 | -17.8% |
| Land and buildings | 22 | €173,361 | €146,437 | -€26,924 | -15.5% |
| Plant, machinery and equipment | 23 | €24,478 | €18,406 | -€6,072 | -24.8% |
| Furniture and vehicles | 24 | €10,547 | €6,462 | -€4,085 | -38.7% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €919,292 | €1,026,686 | +€107,394 | +11.7% |
| Stocks and contracts in progress | 3 | €228,960 | €229,393 | +€434 | +0.2% |
| Stocks | 30/36 | €228,960 | €229,393 | +€434 | +0.2% |
| Amounts receivable within one year | 40/41 | €591,173 | €699,533 | +€108,360 | +18.3% |
| Trade receivables | 40 | €75,435 | €80,596 | +€5,161 | +6.8% |
| Other amounts receivable | 41 | €515,738 | €618,937 | +€103,199 | +20.0% |
| Cash at bank and in hand | 54/58 | €99,159 | €97,065 | -€2,095 | -2.1% |
| Deferred charges and accrued income | 490/1 | - | €694 | +€694 | |
| Total equity and liabilities | 10/49 | €1,153,189 | €1,215,164 | +€61,975 | +5.4% |
| Equity | 10/15 | €373,761 | €413,946 | +€40,184 | +10.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €353,301 | €393,486 | +€40,184 | +11.4% |
| Amounts payable | 17/49 | €779,428 | €801,219 | +€21,791 | +2.8% |
| Amounts payable after more than one year | 17 | €206,992 | €157,903 | -€49,089 | -23.7% |
| Financial debts | 170/4 | €206,992 | €157,903 | -€49,089 | -23.7% |
| Amounts payable within one year | 42/48 | €561,514 | €643,316 | +€81,802 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €56,382 | €53,160 | -€3,223 | -5.7% |
| Trade debts | 44 | €120,988 | €197,496 | +€76,508 | +63.2% |
| Suppliers | 440/4 | €120,988 | €197,496 | +€76,508 | +63.2% |
| Taxes, remuneration and social security | 45 | €37,057 | €40,632 | +€3,575 | +9.6% |
| Taxes | 450/3 | €13,816 | €18,770 | +€4,955 | +35.9% |
| Remuneration and social security | 454/9 | €23,241 | €21,861 | -€1,380 | -5.9% |
| Other amounts payable | 47/48 | €347,087 | €352,029 | +€4,941 | +1.4% |
| Accrued charges and deferred income | 492/3 | €10,922 | - | -€10,922 | |
| Non-recurring operating income | 76A | €12,000 | - | -€12,000 | |
| Remuneration, social security and pensions | 62 | €173,375 | €187,711 | +€14,336 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,360 | €45,419 | +€37,058 | +443% |
| Other operating charges | 640/8 | €17,484 | €6,090 | -€11,395 | -65.2% |
| Gross operating margin | 9900 | €267,391 | €305,575 | +€38,184 | +14.3% |
| Operating profit (loss) | 9901 | €68,171 | €66,356 | -€1,816 | -2.7% |
| Financial income | 75/76B | €2,040 | €78 | -€1,962 | -96.2% |
| Recurring financial income | 75 | €2,040 | €78 | -€1,962 | -96.2% |
| Financial charges | 65/66B | €15,536 | €12,801 | -€2,736 | -17.6% |
| Recurring financial charges | 65 | €15,536 | €12,801 | -€2,736 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €54,675 | €53,633 | -€1,042 | -1.9% |
| Income taxes | 67/77 | €27,539 | €13,449 | -€14,090 | -51.2% |
| Profit (loss) for the period | 9904 | €27,136 | €40,184 | +€13,048 | +48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,136 | €40,184 | +€13,048 | +48.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.