Courage: 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.
Courage
Largest movements
- Cash +€14,028
up €14,028 (+192.8%), from €7,275 to €21,303
mainly Net result for the year (+€10,337) and Tax, wage and social debts (+€6,136)
- Deferred charges and accrued income +€1,520
new in 2025: €1,520
- Reserves +€10,000
up €10,000 (+108342.4%), from €9 to €10,009
- Tax, wage and social debts +€6,136
up €6,136 (+193.1%), from €3,178 to €9,313
- Trade debts -€752
down €752 (-51.3%), from €1,466 to €715
- Profit (loss) carried forward +€337
up €337 (+4.2%), from -€8,114 to -€7,777
- Gross operating margin +€15,281
up €15,281 (+327.0%), from €4,674 to €19,955
- Taxes +€8,178
new in 2025: €8,178
- Financial charges +€642
up €642 (+355.1%), from €181 to €823
- Financial income -€553
down €553 (-99.2%), from €558 to €4
- Other operating charges +€296
up €296 (+91.4%), from €324 to €621
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.
Cash bridge derived
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 | €15,131 | €30,853 | +€15,721 | +103.9% |
| Current assets | 29/58 | €15,131 | €30,853 | +€15,721 | +103.9% |
| Amounts receivable within one year | 40/41 | €7,856 | €8,029 | +€173 | +2.2% |
| Trade receivables | 40 | €7,357 | €8,029 | +€673 | +9.1% |
| Other amounts receivable | 41 | €499 | - | -€499 | |
| Cash at bank and in hand | 54/58 | €7,275 | €21,303 | +€14,028 | +192.8% |
| Deferred charges and accrued income | 490/1 | - | €1,520 | +€1,520 | |
| Total equity and liabilities | 10/49 | €15,131 | €30,853 | +€15,721 | +103.9% |
| Equity | 10/15 | €10,487 | €20,825 | +€10,337 | +98.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9 | €10,009 | +€10,000 | +108342.4% |
| Distributable reserves | 133 | €9 | €10,009 | +€10,000 | +108342.4% |
| Profit (loss) carried forward | 14 | -€8,114 | -€7,777 | +€337 | +4.2% |
| Amounts payable | 17/49 | €4,644 | €10,028 | +€5,384 | +115.9% |
| Amounts payable within one year | 42/48 | €4,644 | €10,028 | +€5,384 | +115.9% |
| Trade debts | 44 | €1,466 | €715 | -€752 | -51.3% |
| Suppliers | 440/4 | €1,466 | €715 | -€752 | -51.3% |
| Taxes, remuneration and social security | 45 | €3,178 | €9,313 | +€6,136 | +193.1% |
| Taxes | 450/3 | €3,178 | €9,313 | +€6,136 | +193.1% |
| Other operating charges | 640/8 | €324 | €621 | +€296 | +91.4% |
| Gross operating margin | 9900 | €4,674 | €19,955 | +€15,281 | +327.0% |
| Operating profit (loss) | 9901 | €4,349 | €19,334 | +€14,985 | +344.5% |
| Financial income | 75/76B | €558 | €4 | -€553 | -99.2% |
| Recurring financial income | 75 | €558 | €4 | -€553 | -99.2% |
| Financial charges | 65/66B | €181 | €823 | +€642 | +355.1% |
| Recurring financial charges | 65 | €181 | €823 | +€642 | +355.1% |
| Profit (loss) for the period before taxes | 9903 | €4,726 | €18,516 | +€13,789 | +291.8% |
| Income taxes | 67/77 | - | €8,178 | +€8,178 | |
| Profit (loss) for the period | 9904 | €4,726 | €10,337 | +€5,611 | +118.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,726 | €10,337 | +€5,611 | +118.7% |
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 11 October 2026 via checked.be.