CYREO: 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.
CYREO
Largest movements
- Tangible fixed assets +€171,477
up €171,477 (+58.8%), from €291,774 to €463,251
of which Land and buildings: +€174,447
- Receivables within one year +€112,942
up €112,942 (+216%), from €52,342 to €165,284
of which Trade receivables: +€112,442
- Cash -€13,996
down €13,996 (-10.0%), from €140,191 to €126,195
mainly Investment in fixed assets (net) (-€184,232) and Trade debts (-€183,613)
- Debts after one year +€407,494
new in 2025: €407,494
- Trade debts -€183,613
down €183,613 (-72.1%), from €254,722 to €71,109
- Current portion of long-term debt +€28,241
new in 2025: €28,241
- Reserves -€26,153
down €26,153 (-24.9%), from €105,159 to €79,007
- Profit (loss) carried forward +€25,868
new in 2025: €25,868
- Turnover -€417,846
no longer reported in 2025 (was €417,846)
- Purchases and services -€169,570
no longer reported in 2025 (was €169,570)
- Staff costs +€65,535
up €65,535 (+22.6%), from €289,619 to €355,154
- Gross operating margin +€41,402
up €41,402 (+11.2%), from €368,144 to €409,546
- Provisions -€22,056
down €22,056 (-96.4%), from €22,875 to €819
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 | €494,714 | €763,452 | +€268,738 | +54.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €301,522 | €465,889 | +€164,367 | +54.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €291,774 | €463,251 | +€171,477 | +58.8% |
| Land and buildings | 22 | €283,444 | €457,891 | +€174,447 | +61.5% |
| Plant, machinery and equipment | 23 | €5,242 | €3,673 | -€1,569 | -29.9% |
| Furniture and vehicles | 24 | €3,089 | €1,687 | -€1,402 | -45.4% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €9,748 | €2,638 | -€7,110 | -72.9% |
| Current assets | 29/58 | €193,192 | €297,564 | +€104,372 | +54.0% |
| Amounts receivable within one year | 40/41 | €52,342 | €165,284 | +€112,942 | +216% |
| Trade receivables | 40 | €52,342 | €164,784 | +€112,442 | +215% |
| Other amounts receivable | 41 | - | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €140,191 | €126,195 | -€13,996 | -10.0% |
| Deferred charges and accrued income | 490/1 | €660 | €6,086 | +€5,426 | +822% |
| Total equity and liabilities | 10/49 | €494,714 | €763,452 | +€268,738 | +54.3% |
| Equity | 10/15 | €185,559 | €174,875 | -€10,684 | -5.8% |
| Contributions | 10/11 | €80,400 | €70,000 | -€10,400 | -12.9% |
| Reserves | 13 | €105,159 | €79,007 | -€26,153 | -24.9% |
| Distributable reserves | 133 | €105,159 | €79,007 | -€26,153 | -24.9% |
| Profit (loss) carried forward | 14 | - | €25,868 | +€25,868 | |
| Provisions and deferred taxes | 16 | €22,875 | €23,694 | +€819 | +3.6% |
| Provisions for liabilities and charges | 160/5 | €22,875 | €23,694 | +€819 | +3.6% |
| Major repairs and maintenance | 162 | €7,794 | €8,614 | +€819 | +10.5% |
| Environmental obligations | 163 | €15,080 | €15,080 | = | 0.0% |
| Amounts payable | 17/49 | €286,281 | €564,884 | +€278,603 | +97.3% |
| Amounts payable after more than one year | 17 | - | €407,494 | +€407,494 | |
| Financial debts | 170/4 | - | €407,494 | +€407,494 | |
| Amounts payable within one year | 42/48 | €284,281 | €150,658 | -€133,623 | -47.0% |
| Current portion of amounts payable after more than one year | 42 | - | €28,241 | +€28,241 | |
| Trade debts | 44 | €254,722 | €71,109 | -€183,613 | -72.1% |
| Suppliers | 440/4 | €254,722 | €71,109 | -€183,613 | -72.1% |
| Taxes, remuneration and social security | 45 | €29,558 | €51,308 | +€21,750 | +73.6% |
| Taxes | 450/3 | €8,183 | €19,139 | +€10,956 | +134% |
| Remuneration and social security | 454/9 | €21,375 | €32,169 | +€10,794 | +50.5% |
| Accrued charges and deferred income | 492/3 | €2,000 | €6,732 | +€4,732 | +237% |
| Turnover | 70 | €417,846 | - | -€417,846 | |
| Goods, raw materials, services and sundry goods | 60/61 | €169,570 | - | -€169,570 | |
| Remuneration, social security and pensions | 62 | €289,619 | €355,154 | +€65,535 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,747 | €19,866 | +€2,119 | +11.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €22,875 | €819 | -€22,056 | -96.4% |
| Other operating charges | 640/8 | €7,246 | €17,855 | +€10,609 | +146% |
| Gross operating margin | 9900 | €368,144 | €409,546 | +€41,402 | +11.2% |
| Operating profit (loss) | 9901 | €30,658 | €15,853 | -€14,805 | -48.3% |
| Financial income | 75/76B | €106 | €264 | +€158 | +149% |
| Recurring financial income | 75 | €106 | €264 | +€158 | +149% |
| Financial charges | 65/66B | €228 | €13,476 | +€13,249 | +5,814% |
| Recurring financial charges | 65 | €228 | €13,476 | +€13,249 | +5,814% |
| Profit (loss) for the period before taxes | 9903 | €30,536 | €2,640 | -€27,896 | -91.4% |
| Income taxes | 67/77 | €4,384 | €2,924 | -€1,459 | -33.3% |
| Profit (loss) for the period | 9904 | €26,153 | -€284 | -€26,437 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,153 | -€284 | -€26,437 |
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 1 November 2026 via checked.be.