Cyneco: 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.
Cyneco
Largest movements
- Cash -€109,009
down €109,009 (-46.7%), from €233,501 to €124,492
mainly Contributions, distributions and other (-€355,294)
- Receivables after one year -€16,234
no longer reported in 2025 (was €16,234)
- Receivables within one year -€13,241
down €13,241 (-23.9%), from €55,352 to €42,112
of which Trade receivables: -€18,150
- Reserves -€265,866
down €265,866 (-89.6%), from €296,691 to €30,825
- Other debts +€110,799
new in 2025: €110,799
- Tax, wage and social debts +€13,327
up €13,327 (+67.5%), from €19,744 to €33,072
of which Taxes: +€15,475
- Gross operating margin -€39,296
down €39,296 (-25.0%), from €157,104 to €117,808
- Taxes -€7,795
down €7,795 (-23.6%), from €33,063 to €25,268
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 | €320,572 | €179,356 | -€141,216 | -44.1% |
| Fixed assets | 21/28 | €13,396 | €10,535 | -€2,861 | -21.4% |
| Tangible fixed assets | 22/27 | €13,396 | €10,535 | -€2,861 | -21.4% |
| Furniture and vehicles | 24 | €5,878 | €3,566 | -€2,313 | -39.3% |
| Other tangible fixed assets | 26 | €7,518 | €6,970 | -€548 | -7.3% |
| Current assets | 29/58 | €307,176 | €168,821 | -€138,355 | -45.0% |
| Amounts receivable after more than one year | 29 | €16,234 | - | -€16,234 | |
| Other amounts receivable | 291 | €16,234 | - | -€16,234 | |
| Amounts receivable within one year | 40/41 | €55,352 | €42,112 | -€13,241 | -23.9% |
| Trade receivables | 40 | €55,262 | €37,112 | -€18,150 | -32.8% |
| Other amounts receivable | 41 | €91 | €5,000 | +€4,909 | +5,403% |
| Cash at bank and in hand | 54/58 | €233,501 | €124,492 | -€109,009 | -46.7% |
| Deferred charges and accrued income | 490/1 | €2,089 | €2,217 | +€129 | +6.2% |
| Total equity and liabilities | 10/49 | €320,572 | €179,356 | -€141,216 | -44.1% |
| Equity | 10/15 | €299,191 | €33,325 | -€265,866 | -88.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €296,691 | €30,825 | -€265,866 | -89.6% |
| Distributable reserves | 133 | €296,691 | €30,825 | -€265,866 | -89.6% |
| Amounts payable | 17/49 | €21,381 | €146,032 | +€124,650 | +583% |
| Amounts payable within one year | 42/48 | €21,381 | €146,032 | +€124,650 | +583% |
| Trade debts | 44 | €1,637 | €2,161 | +€524 | +32.0% |
| Suppliers | 440/4 | €1,637 | €2,161 | +€524 | +32.0% |
| Taxes, remuneration and social security | 45 | €19,744 | €33,072 | +€13,327 | +67.5% |
| Taxes | 450/3 | €17,597 | €33,072 | +€15,475 | +87.9% |
| Remuneration and social security | 454/9 | €2,148 | - | -€2,148 | |
| Other amounts payable | 47/48 | - | €110,799 | +€110,799 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,199 | €2,861 | +€661 | +30.1% |
| Other operating charges | 640/8 | €414 | €120 | -€294 | -71.0% |
| Gross operating margin | 9900 | €157,104 | €117,808 | -€39,296 | -25.0% |
| Operating profit (loss) | 9901 | €154,490 | €114,827 | -€39,663 | -25.7% |
| Financial income | 75/76B | €29 | €1 | -€28 | -97.4% |
| Recurring financial income | 75 | €29 | €1 | -€28 | -97.4% |
| Financial charges | 65/66B | €195 | €132 | -€64 | -32.7% |
| Recurring financial charges | 65 | €195 | €132 | -€64 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €154,324 | €114,696 | -€39,627 | -25.7% |
| Income taxes | 67/77 | €33,063 | €25,268 | -€7,795 | -23.6% |
| Profit (loss) for the period | 9904 | €121,260 | €89,428 | -€31,832 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,260 | €89,428 | -€31,832 | -26.3% |
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 20 October 2026 via checked.be.