CULOBEL ASSEMBLY: 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.
CULOBEL ASSEMBLY
Largest movements
- Cash -€171,786
down €171,786 (-47.6%), from €361,176 to €189,391
mainly Current investments (-€108,787) and Trade debts (-€80,735)
- Receivables within one year -€119,088
down €119,088 (-42.7%), from €278,939 to €159,851
of which Trade receivables: -€142,041
- Current investments +€108,787
up €108,787 (+12.1%), from €902,347 to €1.0m
- Trade debts -€80,735
down €80,735 (-42.3%), from €190,786 to €110,052
- Advances received -€65,052
down €65,052 (-67.9%), from €95,834 to €30,782
- Tax, wage and social debts -€52,573
down €52,573 (-76.9%), from €68,327 to €15,754
of which Taxes: -€49,669
- Reserves +€19,469
up €19,469 (+1.7%), from €1.1m to €1.1m
of which Distributable reserves: +€19,469
- Gross operating margin -€192,188
down €192,188 (-59.1%), from €325,125 to €132,937
- Taxes -€55,128
down €55,128 (-88.3%), from €62,416 to €7,288
- Staff costs +€30,080
up €30,080 (+33.5%), from €89,766 to €119,846
- Financial income +€12,466
up €12,466 (+375%), from €3,327 to €15,793
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.
Derived cash bridge
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 | €1,582,687 | €1,404,766 | -€177,921 | -11.2% |
| Fixed assets | 21/28 | €20,988 | €20,988 | = | 0.0% |
| Financial fixed assets | 28 | €20,988 | €20,988 | = | 0.0% |
| Current assets | 29/58 | €1,561,699 | €1,383,778 | -€177,921 | -11.4% |
| Stocks and contracts in progress | 3 | €17,275 | €17,073 | -€202 | -1.2% |
| Stocks | 30/36 | €17,275 | €17,073 | -€202 | -1.2% |
| Amounts receivable within one year | 40/41 | €278,939 | €159,851 | -€119,088 | -42.7% |
| Trade receivables | 40 | €262,338 | €120,297 | -€142,041 | -54.1% |
| Other amounts receivable | 41 | €16,601 | €39,553 | +€22,952 | +138% |
| Current investments | 50/53 | €902,347 | €1,011,133 | +€108,787 | +12.1% |
| Cash at bank and in hand | 54/58 | €361,176 | €189,391 | -€171,786 | -47.6% |
| Deferred charges and accrued income | 490/1 | €1,961 | €6,329 | +€4,368 | +223% |
| Total equity and liabilities | 10/49 | €1,582,687 | €1,404,766 | -€177,921 | -11.2% |
| Equity | 10/15 | €1,227,317 | €1,246,786 | +€19,469 | +1.6% |
| Contributions | 10/11 | €109,000 | €109,000 | = | 0.0% |
| Capital | 10 | €109,000 | €109,000 | = | 0.0% |
| Issued capital | 100 | €109,000 | €109,000 | = | 0.0% |
| Reserves | 13 | €1,118,317 | €1,137,786 | +€19,469 | +1.7% |
| Non-distributable reserves | 130/1 | €10,900 | €10,900 | = | 0.0% |
| Legal reserve | 130 | €10,900 | €10,900 | = | 0.0% |
| Distributable reserves | 133 | €1,107,417 | €1,126,886 | +€19,469 | +1.8% |
| Amounts payable | 17/49 | €355,370 | €157,980 | -€197,390 | -55.5% |
| Amounts payable within one year | 42/48 | €354,947 | €156,588 | -€198,359 | -55.9% |
| Trade debts | 44 | €190,786 | €110,052 | -€80,735 | -42.3% |
| Suppliers | 440/4 | €190,786 | €110,052 | -€80,735 | -42.3% |
| Advances received on contracts in progress | 46 | €95,834 | €30,782 | -€65,052 | -67.9% |
| Taxes, remuneration and social security | 45 | €68,327 | €15,754 | -€52,573 | -76.9% |
| Taxes | 450/3 | €51,509 | €1,841 | -€49,669 | -96.4% |
| Remuneration and social security | 454/9 | €16,817 | €13,914 | -€2,904 | -17.3% |
| Accrued charges and deferred income | 492/3 | €423 | €1,392 | +€969 | +229% |
| Remuneration, social security and pensions | 62 | €89,766 | €119,846 | +€30,080 | +33.5% |
| Other operating charges | 640/8 | €2,406 | €1,381 | -€1,025 | -42.6% |
| Gross operating margin | 9900 | €325,125 | €132,937 | -€192,188 | -59.1% |
| Operating profit (loss) | 9901 | €232,952 | €11,710 | -€221,243 | -95.0% |
| Financial income | 75/76B | €3,327 | €15,793 | +€12,466 | +375% |
| Recurring financial income | 75 | €3,327 | €15,793 | +€12,466 | +375% |
| Financial charges | 65/66B | €869 | €746 | -€123 | -14.2% |
| Recurring financial charges | 65 | €869 | €746 | -€123 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €235,411 | €26,757 | -€208,653 | -88.6% |
| Income taxes | 67/77 | €62,416 | €7,288 | -€55,128 | -88.3% |
| Profit (loss) for the period | 9904 | €172,995 | €19,469 | -€153,526 | -88.7% |
| Profit (loss) for the period to be appropriated | 9905 | €172,995 | €19,469 | -€153,526 | -88.7% |
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 13 October 2026 via checked.be.