LE CERCLE: 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.
LE CERCLE
Largest movements
- Cash -€144,720
down €144,720 (-63.0%), from €229,623 to €84,903
mainly Receivables within one year (-€138,299) and Net result for the year (-€83,260)
- Receivables within one year +€138,299
up €138,299 (+48.0%), from €288,291 to €426,590
of which Trade receivables: +€88,148
- Deferred charges and accrued income +€27,736
up €27,736 (+36.1%), from €76,818 to €104,554
- Tangible fixed assets -€25,034
down €25,034 (-38.3%), from €65,432 to €40,398
of which Plant, machinery and equipment: -€23,387
- Profit (loss) carried forward -€83,260
down €83,260 (-11.6%), from €716,952 to €633,693
- Other debts +€80,000
up €80,000 (+1,333%), from €6,000 to €86,000
- Tax, wage and social debts +€58,657
up €58,657 (+44.8%), from €130,932 to €189,589
of which Taxes: +€60,298
- Provisions -€40,000
no longer reported in 2022 (was €40,000)
- Trade debts -€19,118
down €19,118 (-4.5%), from €425,776 to €406,658
- Gross operating margin -€226,028
down €226,028, from €157,483 to -€68,545
- Provisions -€40,000
new in 2022: -€40,000
- Taxes -€33,651
no longer reported in 2022 (was €33,651)
- Depreciation -€10,990
down €10,990 (-28.3%), from €38,834 to €27,845
- Financial income +€4,197
up €4,197 (+17.8%), from €23,539 to €27,736
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,353,745 | €1,350,025 | -€3,720 | -0.3% |
| Fixed assets | 21/28 | €66,694 | €41,659 | -€25,034 | -37.5% |
| Tangible fixed assets | 22/27 | €65,432 | €40,398 | -€25,034 | -38.3% |
| Plant, machinery and equipment | 23 | €43,934 | €20,547 | -€23,387 | -53.2% |
| Furniture and vehicles | 24 | €21,498 | €19,851 | -€1,647 | -7.7% |
| Financial fixed assets | 28 | €1,262 | €1,262 | = | 0.0% |
| Current assets | 29/58 | €1,287,052 | €1,308,366 | +€21,314 | +1.7% |
| Amounts receivable after more than one year | 29 | €692,319 | €692,319 | = | 0.0% |
| Other amounts receivable | 291 | €692,319 | €692,319 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €288,291 | €426,590 | +€138,299 | +48.0% |
| Trade receivables | 40 | €15,796 | €103,945 | +€88,148 | +558% |
| Other amounts receivable | 41 | €272,495 | €322,646 | +€50,150 | +18.4% |
| Cash at bank and in hand | 54/58 | €229,623 | €84,903 | -€144,720 | -63.0% |
| Deferred charges and accrued income | 490/1 | €76,818 | €104,554 | +€27,736 | +36.1% |
| Total equity and liabilities | 10/49 | €1,353,745 | €1,350,025 | -€3,720 | -0.3% |
| Equity | 10/15 | €751,038 | €667,778 | -€83,260 | -11.1% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €716,952 | €633,693 | -€83,260 | -11.6% |
| Provisions and deferred taxes | 16 | €40,000 | - | -€40,000 | |
| Provisions for liabilities and charges | 160/5 | €40,000 | - | -€40,000 | |
| Major repairs and maintenance | 162 | €40,000 | - | -€40,000 | |
| Amounts payable | 17/49 | €562,708 | €682,247 | +€119,539 | +21.2% |
| Amounts payable within one year | 42/48 | €562,708 | €682,247 | +€119,539 | +21.2% |
| Trade debts | 44 | €425,776 | €406,658 | -€19,118 | -4.5% |
| Suppliers | 440/4 | €425,776 | €406,658 | -€19,118 | -4.5% |
| Taxes, remuneration and social security | 45 | €130,932 | €189,589 | +€58,657 | +44.8% |
| Taxes | 450/3 | €113,713 | €174,011 | +€60,298 | +53.0% |
| Remuneration and social security | 454/9 | €17,219 | €15,578 | -€1,641 | -9.5% |
| Other amounts payable | 47/48 | €6,000 | €86,000 | +€80,000 | +1,333% |
| Non-recurring operating income | 76A | €9,298 | - | -€9,298 | |
| Remuneration, social security and pensions | 62 | €47,507 | €49,657 | +€2,150 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,834 | €27,845 | -€10,990 | -28.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€40,000 | -€40,000 | |
| Other operating charges | 640/8 | €7,339 | €4,664 | -€2,675 | -36.4% |
| Gross operating margin | 9900 | €157,483 | -€68,545 | -€226,028 | |
| Operating profit (loss) | 9901 | €63,803 | -€110,711 | -€174,514 | |
| Financial income | 75/76B | €23,539 | €27,736 | +€4,197 | +17.8% |
| Recurring financial income | 75 | €23,539 | €27,736 | +€4,197 | +17.8% |
| Financial charges | 65/66B | €1,409 | €284 | -€1,125 | -79.8% |
| Recurring financial charges | 65 | €1,409 | €284 | -€1,125 | -79.8% |
| Profit (loss) for the period before taxes | 9903 | €85,932 | -€83,260 | -€169,192 | |
| Income taxes | 67/77 | €33,651 | - | -€33,651 | |
| Profit (loss) for the period | 9904 | €52,282 | -€83,260 | -€135,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,282 | -€83,260 | -€135,541 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.