CULLINAN: 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.
CULLINAN
Largest movements
- Receivables within one year -€5,341
down €5,341 (-18.1%), from €29,503 to €24,161
of which Trade receivables: -€4,466
- Trade debts -€6,977
down €6,977 (-92.9%), from €7,510 to €534
- Gross operating margin -€5,625
down €5,625 (-85.6%), from €6,570 to €946
- Other operating charges -€641
down €641 (-58.8%), from €1,091 to €449
- Taxes +€84
up €84 (+45.2%), from €186 to €270
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €439,723 | €433,398 | -€6,324 | -1.4% |
| Fixed assets | 21/28 | €405,141 | €405,006 | -€135 | 0.0% |
| Tangible fixed assets | 22/27 | €270 | €135 | -€135 | -50.0% |
| Other tangible fixed assets | 26 | €270 | €135 | -€135 | -50.0% |
| Financial fixed assets | 28 | €404,871 | €404,871 | = | 0.0% |
| Current assets | 29/58 | €34,581 | €28,392 | -€6,189 | -17.9% |
| Amounts receivable within one year | 40/41 | €29,503 | €24,161 | -€5,341 | -18.1% |
| Trade receivables | 40 | €28,627 | €24,161 | -€4,466 | -15.6% |
| Other amounts receivable | 41 | €876 | - | -€876 | |
| Current investments | 50/53 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,469 | €4,223 | -€246 | -5.5% |
| Deferred charges and accrued income | 490/1 | €602 | - | -€602 | |
| Total equity and liabilities | 10/49 | €439,723 | €433,398 | -€6,324 | -1.4% |
| Equity | 10/15 | €425,868 | €424,851 | -€1,017 | -0.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €18,198 | €18,198 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,198 | €18,198 | = | 0.0% |
| Legal reserve | 130 | €18,198 | €18,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | €337,670 | €336,652 | -€1,017 | -0.3% |
| Amounts payable | 17/49 | €13,855 | €8,547 | -€5,307 | -38.3% |
| Amounts payable within one year | 42/48 | €13,700 | €8,547 | -€5,153 | -37.6% |
| Trade debts | 44 | €7,510 | €534 | -€6,977 | -92.9% |
| Suppliers | 440/4 | €7,510 | €534 | -€6,977 | -92.9% |
| Taxes, remuneration and social security | 45 | €340 | €1,052 | +€712 | +210% |
| Taxes | 450/3 | €340 | €1,052 | +€712 | +210% |
| Other amounts payable | 47/48 | €5,851 | €6,962 | +€1,111 | +19.0% |
| Accrued charges and deferred income | 492/3 | €154 | - | -€154 | |
| Non-recurring operating income | 76A | €7,865 | - | -€7,865 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135 | €135 | = | 0.0% |
| Other operating charges | 640/8 | €1,091 | €449 | -€641 | -58.8% |
| Non-recurring operating charges | 66A | - | €1,069 | +€1,069 | |
| Gross operating margin | 9900 | €6,570 | €946 | -€5,625 | -85.6% |
| Operating profit (loss) | 9901 | €5,345 | -€707 | -€6,052 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €40 | +€0 | +0.7% |
| Recurring financial charges | 65 | €39 | €40 | +€0 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €5,305 | -€747 | -€6,052 | |
| Income taxes | 67/77 | €186 | €270 | +€84 | +45.2% |
| Profit (loss) for the period | 9904 | €5,119 | -€1,017 | -€6,136 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,119 | -€1,017 | -€6,136 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.