CUL DE POULE: 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.
CUL DE POULE
Largest movements
- Receivables within one year +€69,929
up €69,929 (+54.7%), from €127,908 to €197,837
of which Trade receivables: +€59,229
- Cash -€14,098
down €14,098 (-27.2%), from €51,904 to €37,805
mainly Receivables within one year (-€69,929) and Trade debts (-€36,284)
- Tangible fixed assets -€8,354
down €8,354 (-14.0%), from €59,496 to €51,142
of which Furniture and vehicles: -€4,702
- Reserves +€42,631
up €42,631 (+83.2%), from €51,267 to €93,898
of which Distributable reserves: +€42,631
- Trade debts -€36,284
down €36,284 (-37.3%), from €97,281 to €60,998
- Advances received +€19,000
up €19,000 (+211%), from €9,000 to €28,000
- Accrued charges and deferred income +€17,012
new in 2025: €17,012
- Tax, wage and social debts +€14,319
up €14,319 (+30.8%), from €46,494 to €60,814
of which Taxes: +€12,284
- Gross operating margin +€59,358
up €59,358 (+46.1%), from €128,691 to €188,048
- Taxes +€17,143
up €17,143 (+323%), from €5,306 to €22,449
- Staff costs +€10,166
up €10,166 (+11.0%), from €92,837 to €103,004
- Depreciation +€2,931
up €2,931 (+20.6%), from €14,228 to €17,159
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 | €241,031 | €288,051 | +€47,020 | +19.5% |
| Fixed assets | 21/28 | €59,954 | €51,601 | -€8,354 | -13.9% |
| Tangible fixed assets | 22/27 | €59,496 | €51,142 | -€8,354 | -14.0% |
| Plant, machinery and equipment | 23 | €13,156 | €11,298 | -€1,857 | -14.1% |
| Furniture and vehicles | 24 | €35,584 | €30,882 | -€4,702 | -13.2% |
| Other tangible fixed assets | 26 | €10,756 | €8,962 | -€1,794 | -16.7% |
| Financial fixed assets | 28 | €458 | €458 | = | 0.0% |
| Current assets | 29/58 | €181,077 | €236,450 | +€55,373 | +30.6% |
| Stocks and contracts in progress | 3 | €1,265 | €808 | -€457 | -36.2% |
| Stocks | 30/36 | €1,265 | €808 | -€457 | -36.2% |
| Amounts receivable within one year | 40/41 | €127,908 | €197,837 | +€69,929 | +54.7% |
| Trade receivables | 40 | €83,714 | €142,943 | +€59,229 | +70.8% |
| Other amounts receivable | 41 | €44,194 | €54,894 | +€10,700 | +24.2% |
| Cash at bank and in hand | 54/58 | €51,904 | €37,805 | -€14,098 | -27.2% |
| Total equity and liabilities | 10/49 | €241,031 | €288,051 | +€47,020 | +19.5% |
| Equity | 10/15 | €77,587 | €120,218 | +€42,631 | +54.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €51,267 | €93,898 | +€42,631 | +83.2% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €49,367 | €91,998 | +€42,631 | +86.4% |
| Profit (loss) carried forward | 14 | €7,320 | €7,320 | = | 0.0% |
| Amounts payable | 17/49 | €163,445 | €167,834 | +€4,389 | +2.7% |
| Amounts payable within one year | 42/48 | €163,445 | €150,822 | -€12,623 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €6,880 | - | -€6,880 | |
| Financial debts | 43 | €3,789 | €1,011 | -€2,778 | -73.3% |
| Credit institutions | 430/8 | €3,789 | €1,011 | -€2,778 | -73.3% |
| Trade debts | 44 | €97,281 | €60,998 | -€36,284 | -37.3% |
| Suppliers | 440/4 | €97,281 | €60,998 | -€36,284 | -37.3% |
| Advances received on contracts in progress | 46 | €9,000 | €28,000 | +€19,000 | +211% |
| Taxes, remuneration and social security | 45 | €46,494 | €60,814 | +€14,319 | +30.8% |
| Taxes | 450/3 | €29,509 | €41,793 | +€12,284 | +41.6% |
| Remuneration and social security | 454/9 | €16,985 | €19,020 | +€2,035 | +12.0% |
| Accrued charges and deferred income | 492/3 | - | €17,012 | +€17,012 | |
| Remuneration, social security and pensions | 62 | €92,837 | €103,004 | +€10,166 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,228 | €17,159 | +€2,931 | +20.6% |
| Other operating charges | 640/8 | €1,486 | €780 | -€706 | -47.5% |
| Gross operating margin | 9900 | €128,691 | €188,048 | +€59,358 | +46.1% |
| Operating profit (loss) | 9901 | €20,140 | €67,106 | +€46,966 | +233% |
| Financial income | 75/76B | €7 | €34 | +€27 | +374% |
| Recurring financial income | 75 | €7 | €34 | +€27 | +374% |
| Financial charges | 65/66B | €2,195 | €2,061 | -€134 | -6.1% |
| Recurring financial charges | 65 | €2,195 | €2,061 | -€134 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €17,953 | €65,079 | +€47,127 | +263% |
| Income taxes | 67/77 | €5,306 | €22,449 | +€17,143 | +323% |
| Profit (loss) for the period | 9904 | €12,647 | €42,631 | +€29,984 | +237% |
| Profit (loss) for the period to be appropriated | 9905 | €12,647 | €42,631 | +€29,984 | +237% |
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 30 October 2026 via checked.be.