COURCELLES MONTAGE: 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.
COURCELLES MONTAGE
Largest movements
- Receivables within one year +€8,880
up €8,880 (+2,575%), from €345 to €9,225
of which Trade receivables: +€8,654
- Stocks and contracts +€4,100
new in 2025: €4,100
- Tangible fixed assets -€980
down €980 (-8.5%), from €11,500 to €10,519
of which Plant, machinery and equipment: -€3,617
- Financial fixed assets +€450
up €450 (+31.0%), from €1,452 to €1,902
- Deferred charges and accrued income +€358
up €358 (+148%), from €241 to €599
- Profit (loss) carried forward +€9,345
up €9,345, from -€9,247 to €98
- Debts after one year +€6,025
new in 2025: €6,025
- Trade debts -€2,366
down €2,366 (-20.5%), from €11,532 to €9,166
- Current portion of long-term debt +€1,862
new in 2025: €1,862
- Other debts -€1,119
down €1,119 (-64.5%), from €1,735 to €616
- Gross operating margin +€22,926
up €22,926, from -€1,334 to €21,592
- Depreciation +€3,488
up €3,488 (+118%), from €2,945 to €6,433
- Financial charges +€1,679
up €1,679 (+47.6%), from €3,523 to €5,202
- Other operating charges -€1,632
down €1,632 (-50.5%), from €3,231 to €1,599
- Taxes -€1,207
down €1,207, from €221 to -€987
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.
Derived cash bridge
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,821 | €26,366 | +€12,545 | +90.8% |
| Fixed assets | 21/28 | €12,952 | €12,421 | -€530 | -4.1% |
| Tangible fixed assets | 22/27 | €11,500 | €10,519 | -€980 | -8.5% |
| Plant, machinery and equipment | 23 | €11,500 | €7,882 | -€3,617 | -31.5% |
| Furniture and vehicles | 24 | - | €2,637 | +€2,637 | |
| Financial fixed assets | 28 | €1,452 | €1,902 | +€450 | +31.0% |
| Current assets | 29/58 | €869 | €13,945 | +€13,076 | +1,505% |
| Stocks and contracts in progress | 3 | - | €4,100 | +€4,100 | |
| Stocks | 30/36 | - | €4,100 | +€4,100 | |
| Amounts receivable within one year | 40/41 | €345 | €9,225 | +€8,880 | +2,575% |
| Trade receivables | 40 | €345 | €8,999 | +€8,654 | +2,510% |
| Other amounts receivable | 41 | - | €226 | +€226 | |
| Cash at bank and in hand | 54/58 | €283 | €21 | -€262 | -92.7% |
| Deferred charges and accrued income | 490/1 | €241 | €599 | +€358 | +148% |
| Total equity and liabilities | 10/49 | €13,821 | €26,366 | +€12,545 | +90.8% |
| Equity | 10/15 | -€1,187 | €8,158 | +€9,345 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€9,247 | €98 | +€9,345 | |
| Amounts payable | 17/49 | €15,008 | €18,208 | +€3,200 | +21.3% |
| Amounts payable after more than one year | 17 | - | €6,025 | +€6,025 | |
| Financial debts | 170/4 | - | €6,025 | +€6,025 | |
| Amounts payable within one year | 42/48 | €14,880 | €12,183 | -€2,696 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,862 | +€1,862 | |
| Trade debts | 44 | €11,532 | €9,166 | -€2,366 | -20.5% |
| Suppliers | 440/4 | €11,532 | €9,166 | -€2,366 | -20.5% |
| Taxes, remuneration and social security | 45 | €1,612 | €539 | -€1,073 | -66.6% |
| Taxes | 450/3 | €1,612 | €539 | -€1,073 | -66.6% |
| Other amounts payable | 47/48 | €1,735 | €616 | -€1,119 | -64.5% |
| Accrued charges and deferred income | 492/3 | €128 | - | -€128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,945 | €6,433 | +€3,488 | +118% |
| Other operating charges | 640/8 | €3,231 | €1,599 | -€1,632 | -50.5% |
| Gross operating margin | 9900 | -€1,334 | €21,592 | +€22,926 | |
| Operating profit (loss) | 9901 | -€7,511 | €13,560 | +€21,071 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,523 | €5,202 | +€1,679 | +47.6% |
| Recurring financial charges | 65 | €3,523 | €5,202 | +€1,679 | +47.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,033 | €8,358 | +€19,391 | |
| Income taxes | 67/77 | €221 | -€987 | -€1,207 | |
| Profit (loss) for the period | 9904 | -€11,254 | €9,345 | +€20,599 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,254 | €9,345 | +€20,599 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.