CULIMAT: 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.
CULIMAT
Largest movements
- Cash +€202,389
up €202,389 (+93.9%), from €215,510 to €417,899
mainly Net result for the year (+€456,148) and Short-term financial debts (+€300,000)
- Receivables within one year +€70,341
up €70,341 (+10.7%), from €655,543 to €725,884
of which Other amounts receivable: +€303,537
- Short-term financial debts +€300,000
new in 2025: €300,000
- Other debts +€188,725
up €188,725 (+48.4%), from €389,528 to €578,253
- Trade debts -€171,337
down €171,337 (-18.5%), from €927,384 to €756,047
- Tax, wage and social debts -€27,378
down €27,378 (-17.7%), from €154,893 to €127,515
of which Remuneration and social security: -€67,353
- Gross operating margin +€233,457
up €233,457 (+19.7%), from €1.2m to €1.4m
- Taxes +€71,537
up €71,537 (+80.6%), from €88,774 to €160,311
- Financial income +€46,801
up €46,801 (+270.5%), from €17,299 to €64,100
- Financial charges -€15,057
down €15,057 (-20.5%), from €73,511 to €58,454
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 | €2,290,891 | €2,578,480 | +€287,588 | +12.6% |
| Fixed assets | 21/28 | €28,127 | €33,745 | +€5,618 | +20.0% |
| Intangible fixed assets | 21 | €1,988 | €9,178 | +€7,190 | +361.7% |
| Tangible fixed assets | 22/27 | €25,479 | €23,907 | -€1,572 | -6.2% |
| Land and buildings | 22 | €8,941 | €8,867 | -€74 | -0.8% |
| Plant, machinery and equipment | 23 | €5,236 | €3,758 | -€1,478 | -28.2% |
| Furniture and vehicles | 24 | €11,302 | €11,282 | -€20 | -0.2% |
| Financial fixed assets | 28 | €660 | €660 | = | 0.0% |
| Current assets | 29/58 | €2,262,765 | €2,544,735 | +€281,970 | +12.5% |
| Stocks and contracts in progress | 3 | €1,384,213 | €1,399,609 | +€15,395 | +1.1% |
| Stocks | 30/36 | €1,384,213 | €1,399,609 | +€15,395 | +1.1% |
| Amounts receivable within one year | 40/41 | €655,543 | €725,884 | +€70,341 | +10.7% |
| Trade receivables | 40 | €612,393 | €379,197 | -€233,196 | -38.1% |
| Other amounts receivable | 41 | €43,150 | €346,687 | +€303,537 | +703.4% |
| Cash at bank and in hand | 54/58 | €215,510 | €417,899 | +€202,389 | +93.9% |
| Deferred charges and accrued income | 490/1 | €7,498 | €1,343 | -€6,155 | -82.1% |
| Total equity and liabilities | 10/49 | €2,290,891 | €2,578,480 | +€287,588 | +12.6% |
| Equity | 10/15 | €773,137 | €779,284 | +€6,148 | +0.8% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €735,937 | €742,084 | +€6,148 | +0.8% |
| Tax-exempt reserves | 132 | €623 | €623 | = | 0.0% |
| Distributable reserves | 133 | €735,314 | €741,462 | +€6,148 | +0.8% |
| Amounts payable | 17/49 | €1,517,755 | €1,799,195 | +€281,441 | +18.5% |
| Amounts payable within one year | 42/48 | €1,513,658 | €1,795,469 | +€281,811 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €33,807 | €33,653 | -€154 | -0.5% |
| Financial debts | 43 | - | €300,000 | +€300,000 | |
| Credit institutions | 430/8 | - | €300,000 | +€300,000 | |
| Trade debts | 44 | €927,384 | €756,047 | -€171,337 | -18.5% |
| Suppliers | 440/4 | €927,384 | €756,047 | -€171,337 | -18.5% |
| Advances received on contracts in progress | 46 | €8,045 | - | -€8,045 | |
| Taxes, remuneration and social security | 45 | €154,893 | €127,515 | -€27,378 | -17.7% |
| Taxes | 450/3 | €31,683 | €71,657 | +€39,974 | +126.2% |
| Remuneration and social security | 454/9 | €123,210 | €55,858 | -€67,353 | -54.7% |
| Other amounts payable | 47/48 | €389,528 | €578,253 | +€188,725 | +48.4% |
| Accrued charges and deferred income | 492/3 | €4,097 | €3,727 | -€370 | -9.0% |
| Remuneration, social security and pensions | 62 | €759,490 | €767,433 | +€7,943 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,936 | €15,735 | +€799 | +5.3% |
| Other operating charges | 640/8 | €23,897 | €27,534 | +€3,637 | +15.2% |
| Gross operating margin | 9900 | €1,188,058 | €1,421,515 | +€233,457 | +19.7% |
| Operating profit (loss) | 9901 | €389,736 | €610,813 | +€221,077 | +56.7% |
| Financial income | 75/76B | €17,299 | €64,100 | +€46,801 | +270.5% |
| Recurring financial income | 75 | €17,299 | €64,100 | +€46,801 | +270.5% |
| Financial charges | 65/66B | €73,511 | €58,454 | -€15,057 | -20.5% |
| Recurring financial charges | 65 | €73,511 | €58,454 | -€15,057 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €333,523 | €616,459 | +€282,936 | +84.8% |
| Income taxes | 67/77 | €88,774 | €160,311 | +€71,537 | +80.6% |
| Profit (loss) for the period | 9904 | €244,749 | €456,148 | +€211,399 | +86.4% |
| Profit (loss) for the period to be appropriated | 9905 | €244,749 | €456,148 | +€211,399 | +86.4% |
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.