CIKISI: 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.
CIKISI
Largest movements
- Financial fixed assets +€564,531
up €564,531 (+293%), from €192,794 to €757,326
- Receivables within one year +€531,002
up €531,002 (+69.9%), from €759,297 to €1.3m
of which Trade receivables: +€526,484
- Cash +€203,129
up €203,129 (+151%), from €134,325 to €337,453
mainly Contributions, distributions and other (+€1.7m) and Trade debts (+€684,965)
- Contributions +€1.6m
up €1.6m (+50.5%), from €3.2m to €4.9m
- Profit (loss) carried forward -€1.3m
down €1.3m (-51.9%), from -€2.5m to -€3.9m
- Trade debts +€684,965
up €684,965 (+204%), from €336,359 to €1.0m
- Debts after one year +€296,343
up €296,343 (+34.8%), from €852,370 to €1.1m
of which Financial debts: +€391,458
- Investment grants +€71,999
new in 2025: €71,999
- Gross operating margin -€149,634
down €149,634 (-43.0%), from -€348,098 to -€497,732
- Staff costs -€115,029
down €115,029 (-23.8%), from €483,753 to €368,724
- Financial income +€80,195
up €80,195 (+300%), from €26,706 to €106,901
- Financial charges +€56,513
up €56,513 (+181%), from €31,145 to €87,658
- Depreciation +€39,350
up €39,350 (+9.8%), from €401,975 to €441,325
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 | €2,384,206 | €3,703,554 | +€1.3m | +55.3% |
| Fixed assets | 21/28 | €1,490,028 | €2,071,154 | +€581,127 | +39.0% |
| Intangible fixed assets | 21 | €1,282,281 | €1,306,150 | +€23,869 | +1.9% |
| Tangible fixed assets | 22/27 | €14,952 | €7,679 | -€7,273 | -48.6% |
| Furniture and vehicles | 24 | €14,952 | €7,679 | -€7,273 | -48.6% |
| Financial fixed assets | 28 | €192,794 | €757,326 | +€564,531 | +293% |
| Current assets | 29/58 | €894,178 | €1,632,400 | +€738,222 | +82.6% |
| Amounts receivable within one year | 40/41 | €759,297 | €1,290,299 | +€531,002 | +69.9% |
| Trade receivables | 40 | €739,058 | €1,265,542 | +€526,484 | +71.2% |
| Other amounts receivable | 41 | €20,239 | €24,757 | +€4,518 | +22.3% |
| Cash at bank and in hand | 54/58 | €134,325 | €337,453 | +€203,129 | +151% |
| Deferred charges and accrued income | 490/1 | €556 | €4,648 | +€4,091 | +735% |
| Total equity and liabilities | 10/49 | €2,384,206 | €3,703,554 | +€1.3m | +55.3% |
| Equity | 10/15 | €696,220 | €1,083,075 | +€386,855 | +55.6% |
| Contributions | 10/11 | €3,239,858 | €4,875,852 | +€1.6m | +50.5% |
| Capital | 10 | €3,239,858 | €4,875,852 | +€1.6m | +50.5% |
| Issued capital | 100 | €3,239,858 | €4,875,852 | +€1.6m | +50.5% |
| Profit (loss) carried forward | 14 | -€2,543,638 | -€3,864,775 | -€1.3m | -51.9% |
| Investment grants | 15 | - | €71,999 | +€71,999 | |
| Amounts payable | 17/49 | €1,687,985 | €2,620,479 | +€932,494 | +55.2% |
| Amounts payable after more than one year | 17 | €852,370 | €1,148,713 | +€296,343 | +34.8% |
| Financial debts | 170/4 | €727,292 | €1,118,750 | +€391,458 | +53.8% |
| Other amounts payable | 178/9 | €125,078 | €29,963 | -€95,116 | -76.0% |
| Amounts payable within one year | 42/48 | €551,967 | €1,191,913 | +€639,946 | +116% |
| Current portion of amounts payable after more than one year | 42 | €139,583 | €123,958 | -€15,625 | -11.2% |
| Trade debts | 44 | €336,359 | €1,021,324 | +€684,965 | +204% |
| Suppliers | 440/4 | €336,359 | €1,021,324 | +€684,965 | +204% |
| Taxes, remuneration and social security | 45 | €75,550 | €46,631 | -€28,918 | -38.3% |
| Taxes | 450/3 | €18,239 | €8,752 | -€9,488 | -52.0% |
| Remuneration and social security | 454/9 | €57,310 | €37,879 | -€19,431 | -33.9% |
| Other amounts payable | 47/48 | €476 | - | -€476 | |
| Accrued charges and deferred income | 492/3 | €283,649 | €279,853 | -€3,795 | -1.3% |
| Remuneration, social security and pensions | 62 | €483,753 | €368,724 | -€115,029 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401,975 | €441,325 | +€39,350 | +9.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,150 | €4,260 | -€7,890 | -64.9% |
| Other operating charges | 640/8 | €30,774 | €27,983 | -€2,791 | -9.1% |
| Gross operating margin | 9900 | -€348,098 | -€497,732 | -€149,634 | -43.0% |
| Operating profit (loss) | 9901 | -€1,276,749 | -€1,340,023 | -€63,274 | -5.0% |
| Financial income | 75/76B | €26,706 | €106,901 | +€80,195 | +300% |
| Recurring financial income | 75 | €26,706 | €106,901 | +€80,195 | +300% |
| Financial charges | 65/66B | €31,145 | €87,658 | +€56,513 | +181% |
| Recurring financial charges | 65 | €31,145 | €87,658 | +€56,513 | +181% |
| Profit (loss) for the period before taxes | 9903 | -€1,281,188 | -€1,320,780 | -€39,593 | -3.1% |
| Income taxes | 67/77 | €382 | €358 | -€25 | -6.5% |
| Profit (loss) for the period | 9904 | -€1,281,570 | -€1,321,138 | -€39,568 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,281,570 | -€1,321,138 | -€39,568 | -3.1% |
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 29 October 2026 via checked.be.