Culverin Consulting: 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.
Culverin Consulting
Largest movements
- Tangible fixed assets +€43,002
up €43,002 (+2,351%), from €1,829 to €44,830
- Cash +€2,829
up €2,829 (+3.2%), from €89,465 to €92,294
mainly Net result for the year (+€47,213) and Other debts (+€40,120)
- Deferred charges and accrued income +€2,139
up €2,139 (+532%), from €402 to €2,541
- Other debts +€40,120
up €40,120 (+3,653%), from €1,098 to €41,218
- Reserves +€7,328
up €7,328 (+7.8%), from €94,227 to €101,555
- Gross operating margin +€18,031
up €18,031 (+35.6%), from €50,587 to €68,618
- Taxes +€9,293
up €9,293 (+92.1%), from €10,084 to €19,377
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 | €101,261 | €149,092 | +€47,832 | +47.2% |
| Fixed assets | 21/28 | €1,829 | €44,830 | +€43,002 | +2,351% |
| Tangible fixed assets | 22/27 | €1,829 | €44,830 | +€43,002 | +2,351% |
| Furniture and vehicles | 24 | €1,829 | €44,830 | +€43,002 | +2,351% |
| Current assets | 29/58 | €99,432 | €104,262 | +€4,830 | +4.9% |
| Amounts receivable within one year | 40/41 | €9,565 | €9,427 | -€138 | -1.4% |
| Trade receivables | 40 | €8,649 | €8,506 | -€143 | -1.6% |
| Other amounts receivable | 41 | €916 | €921 | +€5 | +0.5% |
| Cash at bank and in hand | 54/58 | €89,465 | €92,294 | +€2,829 | +3.2% |
| Deferred charges and accrued income | 490/1 | €402 | €2,541 | +€2,139 | +532% |
| Total equity and liabilities | 10/49 | €101,261 | €149,092 | +€47,832 | +47.2% |
| Equity | 10/15 | €95,227 | €102,555 | +€7,328 | +7.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €94,227 | €101,555 | +€7,328 | +7.8% |
| Distributable reserves | 133 | €94,227 | €101,555 | +€7,328 | +7.8% |
| Amounts payable | 17/49 | €6,034 | €46,537 | +€40,503 | +671% |
| Amounts payable within one year | 42/48 | €6,034 | €46,526 | +€40,492 | +671% |
| Trade debts | 44 | €547 | €111 | -€436 | -79.7% |
| Suppliers | 440/4 | €547 | €111 | -€436 | -79.7% |
| Taxes, remuneration and social security | 45 | €4,388 | €5,196 | +€808 | +18.4% |
| Taxes | 450/3 | €4,388 | €5,196 | +€808 | +18.4% |
| Other amounts payable | 47/48 | €1,098 | €41,218 | +€40,120 | +3,653% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €805 | €1,289 | +€484 | +60.1% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €50,587 | €68,618 | +€18,031 | +35.6% |
| Operating profit (loss) | 9901 | €49,277 | €66,810 | +€17,533 | +35.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €584 | €220 | -€364 | -62.3% |
| Recurring financial charges | 65 | €584 | €220 | -€364 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €48,693 | €66,589 | +€17,897 | +36.8% |
| Income taxes | 67/77 | €10,084 | €19,377 | +€9,293 | +92.1% |
| Profit (loss) for the period | 9904 | €38,608 | €47,213 | +€8,604 | +22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,608 | €47,213 | +€8,604 | +22.3% |
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 28 October 2026 via checked.be.