CULARTS: 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.
CULARTS
Largest movements
- Receivables within one year -€34,448
down €34,448 (-96.6%), from €35,652 to €1,203
of which Trade receivables: -€32,617
- Intangible fixed assets -€31,058
down €31,058 (-100.0%), from €31,058 to €0
- Cash -€21,670
down €21,670 (-66.6%), from €32,521 to €10,851
mainly Tax, wage and social debts (-€33,038) and Net result for the year (-€29,498)
- Current investments -€6,413
down €6,413 (-100.0%), from €6,413 to €0
- Tangible fixed assets -€3,668
down €3,668 (-79.1%), from €4,635 to €968
of which Furniture and vehicles: -€3,668
- Tax, wage and social debts -€33,038
down €33,038 (-72.4%), from €45,641 to €12,602
of which Remuneration and social security: -€29,451
- Profit (loss) carried forward -€29,498
down €29,498 (-55.4%), from -€53,287 to -€82,785
- Debts after one year -€23,651
down €23,651 (-100.0%), from €23,651 to €0
- Trade debts -€4,633
down €4,633 (-46.5%), from €9,955 to €5,323
- Other debts -€3,734
down €3,734 (-6.3%), from €59,136 to €55,402
- Gross operating margin -€44,078
down €44,078 (-31.8%), from €138,652 to €94,574
- Staff costs -€39,821
down €39,821 (-26.1%), from €152,371 to €112,549
- Depreciation -€3,109
down €3,109 (-79.3%), from €3,923 to €814
- Financial charges +€3,082
up €3,082 (+105.8%), from €2,913 to €5,995
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.
Cash bridge derived
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 | €111,576 | €14,166 | -€97,409 | -87.3% |
| Fixed assets | 21/28 | €35,694 | €968 | -€34,726 | -97.3% |
| Intangible fixed assets | 21 | €31,058 | €0 | -€31,058 | -100.0% |
| Tangible fixed assets | 22/27 | €4,635 | €968 | -€3,668 | -79.1% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €4,635 | €968 | -€3,668 | -79.1% |
| Current assets | 29/58 | €75,882 | €13,199 | -€62,683 | -82.6% |
| Amounts receivable within one year | 40/41 | €35,652 | €1,203 | -€34,448 | -96.6% |
| Trade receivables | 40 | €33,810 | €1,193 | -€32,617 | -96.5% |
| Other amounts receivable | 41 | €1,841 | €10 | -€1,831 | -99.5% |
| Current investments | 50/53 | €6,413 | €0 | -€6,413 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,521 | €10,851 | -€21,670 | -66.6% |
| Deferred charges and accrued income | 490/1 | €1,297 | €1,145 | -€152 | -11.7% |
| Total equity and liabilities | 10/49 | €111,576 | €14,166 | -€97,409 | -87.3% |
| Equity | 10/15 | -€40,230 | -€69,729 | -€29,498 | -73.3% |
| Contributions | 10/11 | €11,197 | €11,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,287 | -€82,785 | -€29,498 | -55.4% |
| Amounts payable | 17/49 | €151,806 | €83,895 | -€67,911 | -44.7% |
| Amounts payable after more than one year | 17 | €23,651 | €0 | -€23,651 | -100.0% |
| Financial debts | 170/4 | €23,651 | €0 | -€23,651 | -100.0% |
| Amounts payable within one year | 42/48 | €128,011 | €83,895 | -€44,116 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €12,279 | €9,265 | -€3,013 | -24.5% |
| Trade debts | 44 | €9,955 | €5,323 | -€4,633 | -46.5% |
| Suppliers | 440/4 | €9,955 | €5,323 | -€4,633 | -46.5% |
| Advances received on contracts in progress | 46 | €1,000 | €1,303 | +€303 | +30.3% |
| Taxes, remuneration and social security | 45 | €45,641 | €12,602 | -€33,038 | -72.4% |
| Taxes | 450/3 | €14,587 | €10,999 | -€3,588 | -24.6% |
| Remuneration and social security | 454/9 | €31,054 | €1,603 | -€29,451 | -94.8% |
| Other amounts payable | 47/48 | €59,136 | €55,402 | -€3,734 | -6.3% |
| Accrued charges and deferred income | 492/3 | €145 | €0 | -€145 | -100.0% |
| Non-recurring operating income | 76A | €20,612 | €2,145 | -€18,467 | -89.6% |
| Remuneration, social security and pensions | 62 | €152,371 | €112,549 | -€39,821 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,923 | €814 | -€3,109 | -79.3% |
| Other operating charges | 640/8 | €592 | €599 | +€7 | +1.3% |
| Non-recurring operating charges | 66A | - | €3,917 | +€3,917 | |
| Gross operating margin | 9900 | €138,652 | €94,574 | -€44,078 | -31.8% |
| Operating profit (loss) | 9901 | -€18,233 | -€23,305 | -€5,071 | -27.8% |
| Financial income | 75/76B | €390 | €2 | -€388 | -99.5% |
| Recurring financial income | 75 | €390 | €2 | -€388 | -99.5% |
| Financial charges | 65/66B | €2,913 | €5,995 | +€3,082 | +105.8% |
| Recurring financial charges | 65 | €2,913 | €5,995 | +€3,082 | +105.8% |
| Profit (loss) for the period before taxes | 9903 | -€20,756 | -€29,298 | -€8,541 | -41.1% |
| Income taxes | 67/77 | €307 | €201 | -€106 | -34.6% |
| Profit (loss) for the period | 9904 | -€21,063 | -€29,498 | -€8,435 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,063 | -€29,498 | -€8,435 | -40.0% |
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 11 October 2026 via checked.be.