COURER: 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.
What changed
COURER
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,039
2024 · €9,875-€7,836
Equity
€203,694
2024 · €201,655+€2,039
Cash
€8,961
2024 · €8,683+€278
Balance sheet total
€485,231
2024 · €503,758-€18,528
Largest movements
Assets
- Tangible fixed assets -€16,774
down €16,774 (-4.3%), from €386,203 to €369,429
of which Land and buildings: -€21,566
Equity and liabilities
- Debts after one year -€31,119
down €31,119 (-12.7%), from €245,729 to €214,610
Income statement
- Staff costs +€7,488
up €7,488 (+32.0%), from €23,418 to €30,905
- Gross operating margin -€4,633
down €4,633 (-6.0%), from €76,647 to €72,014
- Taxes -€2,520
down €2,520 (-68.9%), from €3,657 to €1,138
- Depreciation -€1,468
down €1,468 (-6.2%), from €23,556 to €22,088
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.
Result 2024
€9,875
Gross operating margin
-€4,633
Staff costs
-€7,488
Depreciation
+€1,468
Other operating charges
-€103
Financial income
-€250
Financial charges
+€649
Taxes
+€2,520
Result 2025
€2,039
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€35,610
Investment
-€5,314
Financing
-€30,018
Cash 2024
€8,683
From operations (derived)
+€35,610
Net result for the year
+€2,039
Depreciation
+€22,088
Receivables within one year
+€2,032
Trade debts
+€2,259
Tax, wage and social debts
+€4,956
Other debts
+€410
Accrued charges and deferred income
+€1,826
Investment (derived)
-€5,314
Investment in fixed assets (net)
-€5,314
Financing
-€30,018
Debts after one year
-€31,119
Current portion of long-term debt
+€1,101
Cash 2025
€8,961
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €503,758 | €485,231 | -€18,528 | -3.7% |
| Fixed assets | 21/28 | €386,203 | €369,429 | -€16,774 | -4.3% |
| Tangible fixed assets | 22/27 | €386,203 | €369,429 | -€16,774 | -4.3% |
| Land and buildings | 22 | €385,784 | €364,218 | -€21,566 | -5.6% |
| Furniture and vehicles | 24 | €419 | €5,211 | +€4,792 | +1,144% |
| Current assets | 29/58 | €117,555 | €115,802 | -€1,754 | -1.5% |
| Amounts receivable within one year | 40/41 | €18,873 | €16,841 | -€2,032 | -10.8% |
| Other amounts receivable | 41 | €18,873 | €16,841 | -€2,032 | -10.8% |
| Current investments | 50/53 | €90,000 | €90,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,683 | €8,961 | +€278 | +3.2% |
| Total equity and liabilities | 10/49 | €503,758 | €485,231 | -€18,528 | -3.7% |
| Equity | 10/15 | €201,655 | €203,694 | +€2,039 | +1.0% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €48,938 | €50,978 | +€2,039 | +4.2% |
| Non-distributable reserves | 130/1 | €784 | €784 | = | 0.0% |
| Reserves not available under the articles | 1311 | €784 | €784 | = | 0.0% |
| Distributable reserves | 133 | €48,154 | €50,193 | +€2,039 | +4.2% |
| Profit (loss) carried forward | 14 | €32,717 | €32,717 | = | 0.0% |
| Amounts payable | 17/49 | €302,103 | €281,536 | -€20,567 | -6.8% |
| Amounts payable after more than one year | 17 | €245,729 | €214,610 | -€31,119 | -12.7% |
| Financial debts | 170/4 | €245,729 | €214,610 | -€31,119 | -12.7% |
| Amounts payable within one year | 42/48 | €56,374 | €65,100 | +€8,726 | +15.5% |
| Current portion of amounts payable after more than one year | 42 | €30,018 | €31,119 | +€1,101 | +3.7% |
| Trade debts | 44 | €1,828 | €4,087 | +€2,259 | +124% |
| Suppliers | 440/4 | €1,828 | €4,087 | +€2,259 | +124% |
| Taxes, remuneration and social security | 45 | €3,674 | €8,630 | +€4,956 | +135% |
| Taxes | 450/3 | €3,657 | €4,814 | +€1,157 | +31.6% |
| Remuneration and social security | 454/9 | €17 | €3,816 | +€3,799 | +22,294% |
| Other amounts payable | 47/48 | €20,854 | €21,264 | +€410 | +2.0% |
| Accrued charges and deferred income | 492/3 | - | €1,826 | +€1,826 | |
| Remuneration, social security and pensions | 62 | €23,418 | €30,905 | +€7,488 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,556 | €22,088 | -€1,468 | -6.2% |
| Other operating charges | 640/8 | €6,259 | €6,361 | +€103 | +1.6% |
| Gross operating margin | 9900 | €76,647 | €72,014 | -€4,633 | -6.0% |
| Operating profit (loss) | 9901 | €23,414 | €12,659 | -€10,755 | -45.9% |
| Financial income | 75/76B | €250 | €0 | -€250 | -100% |
| Recurring financial income | 75 | €250 | €0 | -€250 | -100% |
| Financial charges | 65/66B | €10,131 | €9,482 | -€649 | -6.4% |
| Recurring financial charges | 65 | €10,131 | €9,482 | -€649 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €13,533 | €3,177 | -€10,356 | -76.5% |
| Income taxes | 67/77 | €3,657 | €1,138 | -€2,520 | -68.9% |
| Profit (loss) for the period | 9904 | €9,875 | €2,039 | -€7,836 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,875 | €2,039 | -€7,836 | -79.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.