COURCELLES IMMO: 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 IMMO
NACE 70.200, Business and other management consultancy
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€92,395
2025 · -€51,764-€40,631
Equity
-€209,873
2025 · -€117,478-€92,395
Cash
€1,550
2025 · €14,272-€12,722
Balance sheet total
€1.5m
2025 · €863,856+€668,144
Largest movements
Assets
- Financial fixed assets +€649,970
up €649,970 (+269.9%), from €240,800 to €890,770
of which Companies linked by participating interests: +€499,970
- Receivables within one year +€24,866
up €24,866 (+931.6%), from €2,669 to €27,535
of which Trade receivables: +€24,002
- Receivables after one year +€20,000
up €20,000 (+8.9%), from €224,600 to €244,600
Equity and liabilities
- Debts after one year +€660,310
up €660,310 (+72.7%), from €908,041 to €1.6m
of which Financial debts: +€331,310
- Profit (loss) carried forward -€92,395
down €92,395 (-42.5%), from -€217,478 to -€309,873
- Current portion of long-term debt +€41,321
up €41,321 (+151.0%), from €27,369 to €68,690
- Other debts +€30,000
up €30,000 (+116.4%), from €25,784 to €55,784
- Trade debts +€23,421
up €23,421 (+212.7%), from €11,009 to €34,430
Income statement
- Services and other goods +€151,320
new in 2026: €151,320
- Other operating income +€132,719
new in 2026: €132,719
- Staff costs +€27,149
up €27,149 (+129.4%), from €20,981 to €48,130
- Turnover +€4,500
new in 2026: €4,500
- Financial charges +€3,228
up €3,228 (+56.8%), from €5,685 to €8,913
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
-€51,764
Turnover
+€4,500
Other operating income
+€132,719
Services and other goods
-€151,320
Staff costs
-€27,149
Depreciation
+€2,454
Other operating charges
-€1,612
Other operating items
+€3,111
Financial charges
-€3,228
Taxes
-€107
Result 2026
-€92,395
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
-€67,082
Investment
-€649,970
Financing
+€704,329
Cash 2025
€14,272
From operations (derived)
-€67,082
Net result for the year
-€92,395
Depreciation
+€14,610
Receivables after one year
-€20,000
Receivables within one year
-€24,866
Deferred charges and accrued income
-€641
Trade debts
+€23,421
Tax, wage and social debts
+€5,487
Other debts
+€30,000
Accrued charges and deferred income
-€2,698
Investment (derived)
-€649,970
Investment in fixed assets (net)
-€649,970
Financing
+€704,329
Debts after one year
+€660,310
Current portion of long-term debt
+€41,321
Short-term financial debts
+€2,698
Cash 2026
€1,550
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €863,856 | €1,532,000 | +€668,144 | +77.3% |
| Fixed assets | 21/28 | €613,041 | €1,248,401 | +€635,360 | +103.6% |
| Tangible fixed assets | 22/27 | €372,241 | €357,631 | -€14,610 | -3.9% |
| Land and buildings | 22 | €370,446 | €356,643 | -€13,803 | -3.7% |
| Plant, machinery and equipment | 23 | €1,795 | €987 | -€807 | -45.0% |
| Financial fixed assets | 28 | €240,800 | €890,770 | +€649,970 | +269.9% |
| Affiliated companies | 280/1 | - | €390,000 | +€390,000 | |
| Participating interests | 280 | - | €390,000 | +€390,000 | |
| Companies linked by participating interests | 282/3 | - | €499,970 | +€499,970 | |
| Participating interests | 282 | - | €499,970 | +€499,970 | |
| Other financial fixed assets | 284/8 | - | €800 | +€800 | |
| Amounts receivable and cash guarantees | 285/8 | - | €800 | +€800 | |
| Current assets | 29/58 | €250,815 | €283,599 | +€32,785 | +13.1% |
| Amounts receivable after more than one year | 29 | €224,600 | €244,600 | +€20,000 | +8.9% |
| Other amounts receivable | 291 | €224,600 | €244,600 | +€20,000 | +8.9% |
| Amounts receivable within one year | 40/41 | €2,669 | €27,535 | +€24,866 | +931.6% |
| Trade receivables | 40 | €1,971 | €25,974 | +€24,002 | +1217.6% |
| Other amounts receivable | 41 | €698 | €1,562 | +€864 | +123.8% |
| Cash at bank and in hand | 54/58 | €14,272 | €1,550 | -€12,722 | -89.1% |
| Deferred charges and accrued income | 490/1 | €9,273 | €9,914 | +€641 | +6.9% |
| Total equity and liabilities | 10/49 | €863,856 | €1,532,000 | +€668,144 | +77.3% |
| Equity | 10/15 | -€117,478 | -€209,873 | -€92,395 | -78.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€217,478 | -€309,873 | -€92,395 | -42.5% |
| Amounts payable | 17/49 | €981,334 | €1,741,873 | +€760,539 | +77.5% |
| Amounts payable after more than one year | 17 | €908,041 | €1,568,351 | +€660,310 | +72.7% |
| Financial debts | 170/4 | €250,541 | €581,851 | +€331,310 | +132.2% |
| Credit institutions | 173 | - | €581,851 | +€581,851 | |
| Other amounts payable | 178/9 | €657,500 | €986,500 | +€329,000 | +50.0% |
| Amounts payable within one year | 42/48 | €70,595 | €173,522 | +€102,927 | +145.8% |
| Current portion of amounts payable after more than one year | 42 | €27,369 | €68,690 | +€41,321 | +151.0% |
| Financial debts | 43 | - | €2,698 | +€2,698 | |
| Credit institutions | 430/8 | - | €2,698 | +€2,698 | |
| Trade debts | 44 | €11,009 | €34,430 | +€23,421 | +212.7% |
| Suppliers | 440/4 | €11,009 | €34,430 | +€23,421 | +212.7% |
| Taxes, remuneration and social security | 45 | €6,433 | €11,920 | +€5,487 | +85.3% |
| Taxes | 450/3 | €1,389 | €3,306 | +€1,917 | +138.0% |
| Remuneration and social security | 454/9 | €5,044 | €8,614 | +€3,570 | +70.8% |
| Other amounts payable | 47/48 | €25,784 | €55,784 | +€30,000 | +116.4% |
| Accrued charges and deferred income | 492/3 | €2,698 | - | -€2,698 | |
| Operating income | 70/76A | - | €137,219 | +€137,219 | |
| Turnover | 70 | - | €4,500 | +€4,500 | |
| Other operating income | 74 | - | €132,719 | +€132,719 | |
| Operating charges | 60/66A | - | €220,473 | +€220,473 | |
| Services and other goods | 61 | - | €151,320 | +€151,320 | |
| Remuneration, social security and pensions | 62 | €20,981 | €48,130 | +€27,149 | +129.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,064 | €14,610 | -€2,454 | -14.4% |
| Other operating charges | 640/8 | €4,801 | €6,412 | +€1,612 | +33.6% |
| Gross operating margin | 9900 | -€3,111 | - | +€3,111 | |
| Operating profit (loss) | 9901 | -€45,958 | -€83,254 | -€37,296 | -81.2% |
| Financial charges | 65/66B | €5,685 | €8,913 | +€3,228 | +56.8% |
| Recurring financial charges | 65 | €5,685 | €8,913 | +€3,228 | +56.8% |
| Debt charges | 650 | - | €8,862 | +€8,862 | |
| Other financial charges | 652/9 | - | €50 | +€50 | |
| Profit (loss) for the period before taxes | 9903 | -€51,643 | -€92,166 | -€40,524 | -78.5% |
| Income taxes | 67/77 | €121 | €229 | +€107 | +88.2% |
| Taxes | 670/3 | - | €229 | +€229 | |
| Profit (loss) for the period | 9904 | -€51,764 | -€92,395 | -€40,631 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,764 | -€92,395 | -€40,631 | -78.5% |
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 1 October 2026 via checked.be.