COUREUR MANAGEMENT: 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.
COUREUR MANAGEMENT
Largest movements
- Receivables within one year +€32,819
up €32,819 (+27.3%), from €120,134 to €152,953
of which Trade receivables: +€31,465
- Tangible fixed assets -€3,827
down €3,827 (-29.5%), from €12,957 to €9,130
of which Furniture and vehicles: -€3,080
- Other debts +€40,110
up €40,110 (+45.0%), from €89,228 to €129,338
- Profit (loss) carried forward -€15,345
down €15,345 (-19.2%), from -€80,030 to -€95,376
- Accrued charges and deferred income +€3,189
new in 2025: €3,189
- Taxes -€1,577
new in 2025: -€1,577
- Gross operating margin +€811
up €811 (+6.0%), from -€13,492 to -€12,682
- Depreciation -€405
down €405 (-9.6%), from €4,233 to €3,827
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
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 | €136,852 | €165,886 | +€29,034 | +21.2% |
| Fixed assets | 21/28 | €16,107 | €12,280 | -€3,827 | -23.8% |
| Tangible fixed assets | 22/27 | €12,957 | €9,130 | -€3,827 | -29.5% |
| Plant, machinery and equipment | 23 | €4,465 | €3,717 | -€748 | -16.7% |
| Furniture and vehicles | 24 | €8,493 | €5,413 | -€3,080 | -36.3% |
| Financial fixed assets | 28 | €3,150 | €3,150 | = | 0.0% |
| Current assets | 29/58 | €120,745 | €153,606 | +€32,861 | +27.2% |
| Amounts receivable within one year | 40/41 | €120,134 | €152,953 | +€32,819 | +27.3% |
| Trade receivables | 40 | €54,209 | €85,674 | +€31,465 | +58.0% |
| Other amounts receivable | 41 | €65,925 | €67,279 | +€1,354 | +2.1% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €610 | €651 | +€42 | +6.8% |
| Total equity and liabilities | 10/49 | €136,852 | €165,886 | +€29,034 | +21.2% |
| Equity | 10/15 | €45,747 | €30,402 | -€15,345 | -33.5% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Capital | 10 | €92,960 | €92,960 | = | 0.0% |
| Issued capital | 100 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €32,817 | €32,817 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,196 | €2,196 | = | 0.0% |
| Legal reserve | 130 | €2,196 | €2,196 | = | 0.0% |
| Distributable reserves | 133 | €30,621 | €30,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,030 | -€95,376 | -€15,345 | -19.2% |
| Amounts payable | 17/49 | €91,105 | €135,484 | +€44,379 | +48.7% |
| Amounts payable within one year | 42/48 | €91,105 | €132,295 | +€41,190 | +45.2% |
| Trade debts | 44 | €301 | €438 | +€137 | +45.6% |
| Suppliers | 440/4 | €301 | €438 | +€137 | +45.6% |
| Taxes, remuneration and social security | 45 | €1,577 | €2,520 | +€943 | +59.8% |
| Taxes | 450/3 | €1,577 | €2,520 | +€943 | +59.8% |
| Other amounts payable | 47/48 | €89,228 | €129,338 | +€40,110 | +45.0% |
| Accrued charges and deferred income | 492/3 | - | €3,189 | +€3,189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,233 | €3,827 | -€405 | -9.6% |
| Other operating charges | 640/8 | €376 | €383 | +€8 | +2.0% |
| Gross operating margin | 9900 | -€13,492 | -€12,682 | +€811 | +6.0% |
| Operating profit (loss) | 9901 | -€18,100 | -€16,892 | +€1,208 | +6.7% |
| Financial income | 75/76B | €3 | €6 | +€3 | +101% |
| Recurring financial income | 75 | €3 | €6 | +€3 | +101% |
| Financial charges | 65/66B | €12 | €36 | +€24 | +192% |
| Recurring financial charges | 65 | €12 | €36 | +€24 | +192% |
| Profit (loss) for the period before taxes | 9903 | -€18,110 | -€16,922 | +€1,188 | +6.6% |
| Income taxes | 67/77 | - | -€1,577 | -€1,577 | |
| Profit (loss) for the period | 9904 | -€18,110 | -€15,345 | +€2,764 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,110 | -€15,345 | +€2,764 | +15.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.