ARNAUD COURARD CONSULTING: what changed
ARNAUD COURARD CONSULTING
Largest movements
- Receivables within one year +€29,792
up €29,792 (+78.4%), from €37,991 to €67,782
of which Trade receivables: +€44,689
- Financial fixed assets +€27,500
up €27,500 (+1,100%), from €2,500 to €30,000
- Tangible fixed assets -€8,007
down €8,007 (-3.6%), from €222,169 to €214,162
of which Land and buildings: -€6,319
- Cash -€4,806
down €4,806 (-35.0%), from €13,735 to €8,929
mainly Debts after one year (-€35,685) and Receivables within one year (-€29,792)
- Other debts +€43,110
up €43,110 (+1,130%), from €3,815 to €46,925
- Debts after one year -€35,685
down €35,685 (-85.6%), from €41,670 to €5,985
- Profit (loss) carried forward +€25,637
up €25,637, from €0 to €25,637
- Tax, wage and social debts +€11,875
up €11,875 (+89.6%), from €13,252 to €25,128
of which Taxes: +€11,875
- Gross operating margin -€17,700
down €17,700 (-29.3%), from €60,507 to €42,807
- Taxes -€3,660
down €3,660 (-33.0%), from €11,084 to €7,424
- Financial charges -€3,093
down €3,093 (-73.9%), from €4,187 to €1,094
- Other operating charges -€1,945
down €1,945 (-75.1%), from €2,590 to €645
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €276,394 | €322,676 | +€46,282 | +16.7% |
| Fixed assets | 21/28 | €224,669 | €244,162 | +€19,493 | +8.7% |
| Tangible fixed assets | 22/27 | €222,169 | €214,162 | -€8,007 | -3.6% |
| Land and buildings | 22 | €213,392 | €207,073 | -€6,319 | -3.0% |
| Plant, machinery and equipment | 23 | €6,527 | €5,586 | -€942 | -14.4% |
| Furniture and vehicles | 24 | €2,249 | €1,503 | -€746 | -33.2% |
| Financial fixed assets | 28 | €2,500 | €30,000 | +€27,500 | +1,100% |
| Current assets | 29/58 | €51,725 | €78,514 | +€26,789 | +51.8% |
| Amounts receivable within one year | 40/41 | €37,991 | €67,782 | +€29,792 | +78.4% |
| Trade receivables | 40 | €22,990 | €67,679 | +€44,689 | +194% |
| Other amounts receivable | 41 | €15,001 | €103 | -€14,897 | -99.3% |
| Cash at bank and in hand | 54/58 | €13,735 | €8,929 | -€4,806 | -35.0% |
| Deferred charges and accrued income | 490/1 | - | €1,803 | +€1,803 | |
| Total equity and liabilities | 10/49 | €276,394 | €322,676 | +€46,282 | +16.7% |
| Equity | 10/15 | €177,958 | €203,595 | +€25,637 | +14.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €175,458 | €175,458 | = | 0.0% |
| Distributable reserves | 133 | €175,458 | €175,458 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €25,637 | +€25,637 | |
| Amounts payable | 17/49 | €98,436 | €119,080 | +€20,645 | +21.0% |
| Amounts payable after more than one year | 17 | €41,670 | €5,985 | -€35,685 | -85.6% |
| Financial debts | 170/4 | €41,670 | €5,985 | -€35,685 | -85.6% |
| Amounts payable within one year | 42/48 | €56,066 | €112,776 | +€56,711 | +101% |
| Current portion of amounts payable after more than one year | 42 | €35,308 | €35,685 | +€378 | +1.1% |
| Trade debts | 44 | €3,690 | €5,038 | +€1,348 | +36.5% |
| Suppliers | 440/4 | €3,690 | €5,038 | +€1,348 | +36.5% |
| Taxes, remuneration and social security | 45 | €13,252 | €25,128 | +€11,875 | +89.6% |
| Taxes | 450/3 | €13,252 | €25,128 | +€11,875 | +89.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,815 | €46,925 | +€43,110 | +1,130% |
| Accrued charges and deferred income | 492/3 | €700 | €319 | -€381 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,921 | €8,007 | +€86 | +1.1% |
| Other operating charges | 640/8 | €2,590 | €645 | -€1,945 | -75.1% |
| Gross operating margin | 9900 | €60,507 | €42,807 | -€17,700 | -29.3% |
| Operating profit (loss) | 9901 | €49,995 | €34,155 | -€15,841 | -31.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +433% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +433% |
| Financial charges | 65/66B | €4,187 | €1,094 | -€3,093 | -73.9% |
| Recurring financial charges | 65 | €4,187 | €1,094 | -€3,093 | -73.9% |
| Profit (loss) for the period before taxes | 9903 | €45,809 | €33,062 | -€12,747 | -27.8% |
| Income taxes | 67/77 | €11,084 | €7,424 | -€3,660 | -33.0% |
| Profit (loss) for the period | 9904 | €34,724 | €25,637 | -€9,087 | -26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,724 | €25,637 | -€9,087 | -26.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.