COURCELLES GROUP: 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.
What changed
COURCELLES GROUP
NACE 46.190, Agents in non-specialised wholesale trade
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€59,271
2025 · -€8,194-€51,077
Equity
€123,190
2025 · €182,461-€59,271
Cash
€18,029
2025 · €20,237-€2,209
Balance sheet total
€730,923
2025 · €594,413+€136,510
Largest movements
Assets
- Receivables after one year +€100,000
up €100,000 (+31.7%), from €315,500 to €415,500
- Deferred charges and accrued income +€31,563
up €31,563 (+335.5%), from €9,408 to €40,971
- Financial fixed assets +€18,000
up €18,000 (+9.0%), from €199,375 to €217,375
of which Affiliated companies: +€20,000
- Receivables within one year -€8,526
down €8,526 (-19.9%), from €42,936 to €34,410
of which Trade receivables: -€9,018
Equity and liabilities
- Debts after one year +€247,500
up €247,500 (+82.8%), from €299,000 to €546,500
- Reserves -€59,000
down €59,000 (-89.4%), from €66,000 to €7,000
- Other debts -€49,745
down €49,745 (-91.0%), from €54,642 to €4,896
- Trade debts -€8,661
down €8,661 (-46.6%), from €18,604 to €9,943
Income statement
- Other operating income -€36,666
down €36,666 (-53.1%), from €69,082 to €32,416
- Services and other goods +€24,651
up €24,651 (+11.2%), from €220,913 to €245,563
- Staff costs -€15,080
down €15,080 (-24.4%), from €61,740 to €46,660
From the 2025 result to the 2026 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.
Result 2025
-€8,194
Other operating income
-€36,666
Services and other goods
-€24,651
Staff costs
+€15,080
Depreciation
-€643
Other operating charges
-€1,750
Financial income
-€1,111
Financial charges
-€1,342
Taxes
+€6
Result 2026
-€59,271
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€237,580
Investment
-€18,000
Financing
+€253,371
Cash 2025
€20,237
From operations (derived)
-€237,580
Net result for the year
-€59,271
Depreciation
+€2,317
Receivables after one year
-€100,000
Receivables within one year
+€8,526
Deferred charges and accrued income
-€31,563
Trade debts
-€8,661
Tax, wage and social debts
+€1,039
Other debts
-€49,745
Accrued charges and deferred income
-€222
Investment (derived)
-€18,000
Investment in fixed assets (net)
-€18,000
Financing
+€253,371
Debts after one year
+€247,500
Current portion of long-term debt
+€5,871
Cash 2026
€18,029
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €594,413 | €730,923 | +€136,510 | +23.0% |
| Fixed assets | 21/28 | €206,332 | €222,014 | +€15,683 | +7.6% |
| Tangible fixed assets | 22/27 | €6,957 | €4,639 | -€2,317 | -33.3% |
| Furniture and vehicles | 24 | €6,957 | €4,639 | -€2,317 | -33.3% |
| Financial fixed assets | 28 | €199,375 | €217,375 | +€18,000 | +9.0% |
| Affiliated companies | 280/1 | €197,375 | €217,375 | +€20,000 | +10.1% |
| Participating interests | 280 | €197,375 | €217,375 | +€20,000 | +10.1% |
| Other financial fixed assets | 284/8 | €2,000 | - | -€2,000 | |
| Shares | 284 | €2,000 | - | -€2,000 | |
| Current assets | 29/58 | €388,082 | €508,909 | +€120,828 | +31.1% |
| Amounts receivable after more than one year | 29 | €315,500 | €415,500 | +€100,000 | +31.7% |
| Trade receivables | 290 | €315,500 | €415,500 | +€100,000 | +31.7% |
| Amounts receivable within one year | 40/41 | €42,936 | €34,410 | -€8,526 | -19.9% |
| Trade receivables | 40 | €32,496 | €23,478 | -€9,018 | -27.8% |
| Other amounts receivable | 41 | €10,440 | €10,932 | +€492 | +4.7% |
| Cash at bank and in hand | 54/58 | €20,237 | €18,029 | -€2,209 | -10.9% |
| Deferred charges and accrued income | 490/1 | €9,408 | €40,971 | +€31,563 | +335.5% |
| Total equity and liabilities | 10/49 | €594,413 | €730,923 | +€136,510 | +23.0% |
| Equity | 10/15 | €182,461 | €123,190 | -€59,271 | -32.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €97,330 | €97,330 | = | 0.0% |
| Reserves | 13 | €66,000 | €7,000 | -€59,000 | -89.4% |
| Distributable reserves | 133 | €66,000 | €7,000 | -€59,000 | -89.4% |
| Profit (loss) carried forward | 14 | €531 | €260 | -€271 | -51.1% |
| Amounts payable | 17/49 | €411,952 | €607,734 | +€195,781 | +47.5% |
| Amounts payable after more than one year | 17 | €299,000 | €546,500 | +€247,500 | +82.8% |
| Other amounts payable | 178/9 | €299,000 | €546,500 | +€247,500 | +82.8% |
| Amounts payable within one year | 42/48 | €112,730 | €61,234 | -€51,496 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €22,562 | €28,433 | +€5,871 | +26.0% |
| Trade debts | 44 | €18,604 | €9,943 | -€8,661 | -46.6% |
| Suppliers | 440/4 | €18,604 | €9,943 | -€8,661 | -46.6% |
| Taxes, remuneration and social security | 45 | €16,922 | €17,961 | +€1,039 | +6.1% |
| Taxes | 450/3 | €3,415 | €2,724 | -€691 | -20.2% |
| Remuneration and social security | 454/9 | €13,508 | €15,238 | +€1,730 | +12.8% |
| Other amounts payable | 47/48 | €54,642 | €4,896 | -€49,745 | -91.0% |
| Accrued charges and deferred income | 492/3 | €222 | - | -€222 | |
| Operating income | 70/76A | €280,893 | €244,226 | -€36,666 | -13.1% |
| Turnover | 70 | €211,811 | €211,811 | = | 0.0% |
| Other operating income | 74 | €69,082 | €32,416 | -€36,666 | -53.1% |
| Operating charges | 60/66A | €288,920 | €300,883 | +€11,963 | +4.1% |
| Services and other goods | 61 | €220,913 | €245,563 | +€24,651 | +11.2% |
| Remuneration, social security and pensions | 62 | €61,740 | €46,660 | -€15,080 | -24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,674 | €2,317 | +€643 | +38.4% |
| Other operating charges | 640/8 | €4,593 | €6,343 | +€1,750 | +38.1% |
| Operating profit (loss) | 9901 | -€8,027 | -€56,657 | -€48,630 | -605.8% |
| Financial income | 75/76B | €11,111 | €10,000 | -€1,111 | -10.0% |
| Recurring financial income | 75 | €11,111 | €10,000 | -€1,111 | -10.0% |
| Income from financial fixed assets | 750 | €11,111 | €10,000 | -€1,111 | -10.0% |
| Financial charges | 65/66B | €10,527 | €11,869 | +€1,342 | +12.7% |
| Recurring financial charges | 65 | €10,527 | €11,869 | +€1,342 | +12.7% |
| Debt charges | 650 | €10,527 | €11,746 | +€1,219 | +11.6% |
| Other financial charges | 652/9 | - | €123 | +€123 | |
| Profit (loss) for the period before taxes | 9903 | -€7,443 | -€58,525 | -€51,083 | -686.3% |
| Income taxes | 67/77 | €751 | €746 | -€6 | -0.7% |
| Taxes | 670/3 | €751 | €746 | -€6 | -0.7% |
| Profit (loss) for the period | 9904 | -€8,194 | -€59,271 | -€51,077 | -623.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,194 | -€59,271 | -€51,077 | -623.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.