Courbez: what changed
Two fiscal 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.
Courbez
Largest movements
- Receivables within one year +€56,694
up €56,694 (+63.4%), from €89,430 to €146,124
of which Trade receivables: +€55,752
- Tangible fixed assets -€10,642
down €10,642 (-2.4%), from €447,416 to €436,775
of which Land and buildings: -€7,358
- Current investments -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
- Profit (loss) carried forward +€73,822
up €73,822 (+63.1%), from €116,942 to €190,763
- Debts after one year -€17,418
down €17,418 (-4.8%), from €362,217 to €344,799
- Tax, wage and social debts -€14,345
down €14,345 (-82.6%), from €17,375 to €3,030
- Taxes +€11,823
up €11,823 (+162.6%), from €7,272 to €19,095
- Gross operating margin -€8,239
down €8,239 (-6.7%), from €122,851 to €114,612
- Depreciation +€2,307
up €2,307 (+27.2%), from €8,475 to €10,782
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 | €562,771 | €604,941 | +€42,169 | +7.5% |
| Formation expenses | 20 | €872 | €731 | -€141 | -16.1% |
| Fixed assets | 21/28 | €447,416 | €436,775 | -€10,642 | -2.4% |
| Tangible fixed assets | 22/27 | €447,416 | €436,775 | -€10,642 | -2.4% |
| Land and buildings | 22 | €416,292 | €408,934 | -€7,358 | -1.8% |
| Furniture and vehicles | 24 | €9,846 | €7,311 | -€2,535 | -25.7% |
| Other tangible fixed assets | 26 | €21,279 | €20,531 | -€748 | -3.5% |
| Current assets | 29/58 | €114,483 | €167,435 | +€52,952 | +46.3% |
| Amounts receivable within one year | 40/41 | €89,430 | €146,124 | +€56,694 | +63.4% |
| Trade receivables | 40 | €89,430 | €145,182 | +€55,752 | +62.3% |
| Other amounts receivable | 41 | - | €941 | +€941 | |
| Current investments | 50/53 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €5,053 | €8,410 | +€3,357 | +66.4% |
| Deferred charges and accrued income | 490/1 | - | €2,901 | +€2,901 | |
| Total equity and liabilities | 10/49 | €562,771 | €604,941 | +€42,169 | +7.5% |
| Equity | 10/15 | €161,942 | €235,763 | +€73,822 | +45.6% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,942 | €190,763 | +€73,822 | +63.1% |
| Amounts payable | 17/49 | €400,830 | €369,177 | -€31,652 | -7.9% |
| Amounts payable after more than one year | 17 | €362,217 | €344,799 | -€17,418 | -4.8% |
| Financial debts | 170/4 | €362,217 | €344,799 | -€17,418 | -4.8% |
| Amounts payable within one year | 42/48 | €38,591 | €24,378 | -€14,214 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €16,999 | €18,816 | +€1,816 | +10.7% |
| Trade debts | 44 | €3,968 | €2,532 | -€1,436 | -36.2% |
| Suppliers | 440/4 | €3,968 | €2,532 | -€1,436 | -36.2% |
| Taxes, remuneration and social security | 45 | €17,375 | €3,030 | -€14,345 | -82.6% |
| Taxes | 450/3 | €17,375 | €3,030 | -€14,345 | -82.6% |
| Other amounts payable | 47/48 | €249 | - | -€249 | |
| Accrued charges and deferred income | 492/3 | €21 | - | -€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,475 | €10,782 | +€2,307 | +27.2% |
| Other operating charges | 640/8 | €1,128 | €2,097 | +€970 | +86.0% |
| Gross operating margin | 9900 | €122,851 | €114,612 | -€8,239 | -6.7% |
| Operating profit (loss) | 9901 | €113,248 | €101,733 | -€11,516 | -10.2% |
| Financial income | 75/76B | - | €49 | +€49 | |
| Recurring financial income | 75 | - | €49 | +€49 | |
| Financial charges | 65/66B | €9,602 | €8,865 | -€737 | -7.7% |
| Recurring financial charges | 65 | €9,602 | €8,865 | -€737 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €103,647 | €92,917 | -€10,730 | -10.4% |
| Income taxes | 67/77 | €7,272 | €19,095 | +€11,823 | +162.6% |
| Profit (loss) for the period | 9904 | €96,375 | €73,822 | -€22,553 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,375 | €73,822 | -€22,553 | -23.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.