CULIFO: what changed
Two fiscal 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.
CULIFO
Largest movements
- Cash +€94,351
up €94,351 (+400.5%), from €23,558 to €117,909
mainly Net result for the year (+€168,301) and Depreciation (+€46,789)
- Reserves +€168,301
up €168,301 (+571.8%), from €29,431 to €197,732
of which Distributable reserves: +€171,547
- Other debts -€45,533
down €45,533 (-29.1%), from €156,274 to €110,741
- Debts after one year -€37,316
down €37,316 (-30.2%), from €123,445 to €86,129
- Tax, wage and social debts +€17,013
up €17,013 (+2100.4%), from €810 to €17,823
- Current portion of long-term debt -€9,912
down €9,912 (-21.0%), from €47,206 to €37,294
- Gross operating margin +€222,810
up €222,810 (+241.8%), from €92,160 to €314,970
- Taxes +€72,583
up €72,583 (+873.3%), from €8,311 to €80,894
- Depreciation +€3,606
up €3,606 (+8.4%), from €43,183 to €46,789
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 | €571,789 | €662,671 | +€90,882 | +15.9% |
| Fixed assets | 21/28 | €547,356 | €542,224 | -€5,132 | -0.9% |
| Tangible fixed assets | 22/27 | €547,151 | €542,019 | -€5,132 | -0.9% |
| Land and buildings | 22 | €536,247 | €530,392 | -€5,855 | -1.1% |
| Plant, machinery and equipment | 23 | €9,006 | €10,333 | +€1,327 | +14.7% |
| Furniture and vehicles | 24 | €1,898 | €1,294 | -€604 | -31.8% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €24,433 | €120,447 | +€96,014 | +393.0% |
| Amounts receivable within one year | 40/41 | €182 | €2,131 | +€1,949 | +1070.9% |
| Trade receivables | 40 | - | €2,131 | +€2,131 | |
| Other amounts receivable | 41 | €182 | - | -€182 | |
| Cash at bank and in hand | 54/58 | €23,558 | €117,909 | +€94,351 | +400.5% |
| Deferred charges and accrued income | 490/1 | €693 | €407 | -€286 | -41.3% |
| Total equity and liabilities | 10/49 | €571,789 | €662,671 | +€90,882 | +15.9% |
| Equity | 10/15 | €233,431 | €401,732 | +€168,301 | +72.1% |
| Contributions | 10/11 | €88,002 | €88,002 | = | 0.0% |
| Capital | 10 | €88,002 | €88,002 | = | 0.0% |
| Issued capital | 100 | €88,002 | €88,002 | = | 0.0% |
| Reserves | 13 | €29,431 | €197,732 | +€168,301 | +571.8% |
| Non-distributable reserves | 130/1 | €8,800 | €8,800 | = | 0.0% |
| Legal reserve | 130 | €8,800 | €8,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,631 | €17,385 | -€3,246 | -15.7% |
| Distributable reserves | 133 | - | €171,547 | +€171,547 | |
| Profit (loss) carried forward | 14 | €115,998 | €115,998 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,623 | €8,952 | -€1,671 | -15.7% |
| Deferred taxes | 168 | €10,623 | €8,952 | -€1,671 | -15.7% |
| Amounts payable | 17/49 | €327,735 | €251,987 | -€75,748 | -23.1% |
| Amounts payable after more than one year | 17 | €123,445 | €86,129 | -€37,316 | -30.2% |
| Financial debts | 170/4 | €123,445 | €86,129 | -€37,316 | -30.2% |
| Amounts payable within one year | 42/48 | €204,290 | €165,858 | -€38,432 | -18.8% |
| Current portion of amounts payable after more than one year | 42 | €47,206 | €37,294 | -€9,912 | -21.0% |
| Taxes, remuneration and social security | 45 | €810 | €17,823 | +€17,013 | +2100.4% |
| Taxes | 450/3 | €810 | €17,823 | +€17,013 | +2100.4% |
| Other amounts payable | 47/48 | €156,274 | €110,741 | -€45,533 | -29.1% |
| Non-recurring operating income | 76A | - | €222,984 | +€222,984 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,183 | €46,789 | +€3,606 | +8.4% |
| Other operating charges | 640/8 | €15,473 | €15,144 | -€329 | -2.1% |
| Gross operating margin | 9900 | €92,160 | €314,970 | +€222,810 | +241.8% |
| Operating profit (loss) | 9901 | €33,504 | €253,037 | +€219,533 | +655.2% |
| Financial income | 75/76B | - | €355 | +€355 | |
| Recurring financial income | 75 | - | €355 | +€355 | |
| Financial charges | 65/66B | €7,151 | €5,869 | -€1,282 | -17.9% |
| Recurring financial charges | 65 | €7,151 | €5,869 | -€1,282 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €26,353 | €247,523 | +€221,170 | +839.3% |
| Transfer from deferred taxes | 780 | €1,672 | €1,672 | = | 0.0% |
| Income taxes | 67/77 | €8,311 | €80,894 | +€72,583 | +873.3% |
| Profit (loss) for the period | 9904 | €19,714 | €168,301 | +€148,587 | +753.7% |
| Transfer from tax-exempt reserves | 789 | €3,246 | €3,246 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,960 | €171,547 | +€148,587 | +647.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.