CULIKADO: what changed
CULIKADO
Largest movements
- Receivables within one year -€100,534
down €100,534 (-69.1%), from €145,396 to €44,862
of which Other amounts receivable: -€99,749
- Receivables after one year +€100,000
new in 2025: €100,000
- Cash -€12,819
down €12,819 (-26.0%), from €49,398 to €36,579
mainly Receivables after one year (-€100,000) and Debts after one year (-€9,975)
- Stocks and contracts -€6,905
down €6,905 (-19.9%), from €34,780 to €27,875
- Debts after one year -€9,975
down €9,975 (-100%), from €9,975 to €0
- Tax, wage and social debts -€8,182
down €8,182 (-22.6%), from €36,211 to €28,029
of which Remuneration and social security: -€4,736
- Reserves +€8,137
up €8,137 (+7.9%), from €102,400 to €110,537
of which Distributable reserves: +€8,137
- Trade debts -€7,062
down €7,062 (-12.1%), from €58,546 to €51,484
- Current portion of long-term debt -€6,758
down €6,758 (-37.6%), from €17,950 to €11,192
- Gross operating margin +€25,274
up €25,274 (+48.6%), from €51,955 to €77,230
- Staff costs -€4,065
down €4,065 (-5.5%), from €73,519 to €69,454
- Financial charges +€1,230
up €1,230 (+30.2%), from €4,067 to €5,297
- Financial income -€1,169
down €1,169 (-15.1%), from €7,718 to €6,549
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,084 | €215,791 | -€21,293 | -9.0% |
| Fixed assets | 21/28 | €236 | €153 | -€83 | -35.1% |
| Tangible fixed assets | 22/27 | €116 | €33 | -€83 | -71.4% |
| Plant, machinery and equipment | 23 | €116 | €33 | -€83 | -71.4% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €236,847 | €215,638 | -€21,210 | -9.0% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Stocks and contracts in progress | 3 | €34,780 | €27,875 | -€6,905 | -19.9% |
| Stocks | 30/36 | €34,780 | €27,875 | -€6,905 | -19.9% |
| Amounts receivable within one year | 40/41 | €145,396 | €44,862 | -€100,534 | -69.1% |
| Trade receivables | 40 | €954 | €170 | -€784 | -82.2% |
| Other amounts receivable | 41 | €144,442 | €44,693 | -€99,749 | -69.1% |
| Cash at bank and in hand | 54/58 | €49,398 | €36,579 | -€12,819 | -26.0% |
| Deferred charges and accrued income | 490/1 | €7,273 | €6,322 | -€951 | -13.1% |
| Total equity and liabilities | 10/49 | €237,084 | €215,791 | -€21,293 | -9.0% |
| Equity | 10/15 | €108,600 | €116,737 | +€8,137 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,400 | €110,537 | +€8,137 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €100,540 | €108,677 | +€8,137 | +8.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €128,484 | €99,054 | -€29,429 | -22.9% |
| Amounts payable after more than one year | 17 | €9,975 | €0 | -€9,975 | -100% |
| Financial debts | 170/4 | €9,975 | €0 | -€9,975 | -100% |
| Amounts payable within one year | 42/48 | €118,259 | €98,804 | -€19,455 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €17,950 | €11,192 | -€6,758 | -37.6% |
| Trade debts | 44 | €58,546 | €51,484 | -€7,062 | -12.1% |
| Suppliers | 440/4 | €58,546 | €51,484 | -€7,062 | -12.1% |
| Advances received on contracts in progress | 46 | €5,552 | €6,211 | +€659 | +11.9% |
| Taxes, remuneration and social security | 45 | €36,211 | €28,029 | -€8,182 | -22.6% |
| Taxes | 450/3 | €15,292 | €11,847 | -€3,445 | -22.5% |
| Remuneration and social security | 454/9 | €20,919 | €16,182 | -€4,736 | -22.6% |
| Other amounts payable | 47/48 | - | €1,888 | +€1,888 | |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €73,519 | €69,454 | -€4,065 | -5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80 | €83 | +€3 | +3.8% |
| Other operating charges | 640/8 | €814 | €808 | -€6 | -0.7% |
| Gross operating margin | 9900 | €51,955 | €77,230 | +€25,274 | +48.6% |
| Operating profit (loss) | 9901 | -€22,458 | €6,884 | +€29,342 | |
| Financial income | 75/76B | €7,718 | €6,549 | -€1,169 | -15.1% |
| Recurring financial income | 75 | €7,718 | €6,549 | -€1,169 | -15.1% |
| Financial charges | 65/66B | €4,067 | €5,297 | +€1,230 | +30.2% |
| Recurring financial charges | 65 | €4,067 | €5,297 | +€1,230 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,806 | €8,137 | +€26,943 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€18,806 | €8,137 | +€26,943 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,806 | €8,137 | +€26,943 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.