COURARD: 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.
COURARD
Largest movements
- Tangible fixed assets +€40,499
up €40,499 (+76.2%), from €53,154 to €93,653
of which Furniture and vehicles: +€68,542
- Intangible fixed assets -€22,479
no longer reported in 2025 (was €22,479)
- Cash +€8,637
up €8,637 (+165.2%), from €5,228 to €13,865
mainly Other debts (+€65,679) and Depreciation (+€42,907)
- Receivables within one year -€4,133
down €4,133 (-17.1%), from €24,142 to €20,008
of which Trade receivables: -€4,770
- Deferred charges and accrued income +€1,888
up €1,888 (+303.2%), from €623 to €2,511
- Other debts +€65,679
new in 2025: €65,679
- Debts after one year -€21,333
no longer reported in 2025 (was €21,333)
of which Other amounts payable: -€18,333
- Profit (loss) carried forward -€9,887
down €9,887, from €0 to -€9,887
- Tax, wage and social debts -€9,810
down €9,810 (-60.8%), from €16,134 to €6,324
- Turnover -€139,451
no longer reported in 2025 (was €139,451)
- Purchases and services -€124,602
no longer reported in 2025 (was €124,602)
- Depreciation +€42,907
new in 2025: €42,907
- Gross operating margin +€21,674
up €21,674 (+146.0%), from €14,849 to €36,523
- Taxes -€2,542
no longer reported in 2025 (was €2,542)
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 | €105,626 | €130,038 | +€24,412 | +23.1% |
| Fixed assets | 21/28 | €75,634 | €93,653 | +€18,019 | +23.8% |
| Intangible fixed assets | 21 | €22,479 | - | -€22,479 | |
| Tangible fixed assets | 22/27 | €53,154 | €93,653 | +€40,499 | +76.2% |
| Plant, machinery and equipment | 23 | €33,574 | €6,227 | -€27,347 | -81.5% |
| Furniture and vehicles | 24 | €12,904 | €81,446 | +€68,542 | +531.1% |
| Other tangible fixed assets | 26 | €6,676 | €5,980 | -€696 | -10.4% |
| Current assets | 29/58 | €29,992 | €36,385 | +€6,393 | +21.3% |
| Amounts receivable within one year | 40/41 | €24,142 | €20,008 | -€4,133 | -17.1% |
| Trade receivables | 40 | €24,142 | €19,372 | -€4,770 | -19.8% |
| Other amounts receivable | 41 | - | €636 | +€636 | |
| Cash at bank and in hand | 54/58 | €5,228 | €13,865 | +€8,637 | +165.2% |
| Deferred charges and accrued income | 490/1 | €623 | €2,511 | +€1,888 | +303.2% |
| Total equity and liabilities | 10/49 | €105,626 | €130,038 | +€24,412 | +23.1% |
| Equity | 10/15 | €67,850 | €57,963 | -€9,887 | -14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,250 | €49,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,390 | €47,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€9,887 | -€9,887 | |
| Amounts payable | 17/49 | €37,776 | €72,075 | +€34,299 | +90.8% |
| Amounts payable after more than one year | 17 | €21,333 | - | -€21,333 | |
| Financial debts | 170/4 | €3,000 | - | -€3,000 | |
| Other amounts payable | 178/9 | €18,333 | - | -€18,333 | |
| Amounts payable within one year | 42/48 | €16,442 | €72,075 | +€55,632 | +338.3% |
| Trade debts | 44 | €308 | €72 | -€236 | -76.6% |
| Suppliers | 440/4 | €308 | €72 | -€236 | -76.6% |
| Taxes, remuneration and social security | 45 | €16,134 | €6,324 | -€9,810 | -60.8% |
| Taxes | 450/3 | €16,134 | €6,324 | -€9,810 | -60.8% |
| Other amounts payable | 47/48 | - | €65,679 | +€65,679 | |
| Turnover | 70 | €139,451 | - | -€139,451 | |
| Non-recurring operating income | 76A | €9,228 | - | -€9,228 | |
| Goods, raw materials, services and sundry goods | 60/61 | €124,602 | - | -€124,602 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €42,907 | +€42,907 | |
| Other operating charges | 640/8 | €846 | €672 | -€174 | -20.6% |
| Gross operating margin | 9900 | €14,849 | €36,523 | +€21,674 | +146.0% |
| Operating profit (loss) | 9901 | €14,003 | -€7,055 | -€21,058 | |
| Financial income | 75/76B | €29 | €51 | +€22 | +77.1% |
| Recurring financial income | 75 | €29 | €51 | +€22 | +77.1% |
| Financial charges | 65/66B | €1,355 | €2,883 | +€1,527 | +112.7% |
| Recurring financial charges | 65 | €1,355 | €2,883 | +€1,527 | +112.7% |
| Profit (loss) for the period before taxes | 9903 | €12,676 | -€9,887 | -€22,564 | |
| Income taxes | 67/77 | €2,542 | - | -€2,542 | |
| Profit (loss) for the period | 9904 | €10,134 | -€9,887 | -€20,021 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,134 | -€9,887 | -€20,021 |
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.