CURABEL: what changed
Two fiscal 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.
CURABEL
Largest movements
- Financial fixed assets +€350,000
up €350,000 (+20733.0%), from €1,688 to €351,688
- Receivables within one year +€61,406
up €61,406 (+71.8%), from €85,566 to €146,973
of which Trade receivables: +€37,468
- Cash -€55,190
down €55,190 (-44.5%), from €123,910 to €68,720
mainly Investment in fixed assets (net) (-€430,699) and Contributions, distributions and other (-€72,368)
- Tangible fixed assets +€24,712
up €24,712 (+8.9%), from €278,575 to €303,288
of which Furniture and vehicles: +€35,526
- Current investments +€10,055
new in 2025: €10,055
- Debts after one year +€214,977
up €214,977 (+121.4%), from €177,118 to €392,095
- Other debts +€94,998
up €94,998 (+200.5%), from €47,370 to €142,368
- Current portion of long-term debt +€37,702
up €37,702 (+91.8%), from €41,052 to €78,755
- Tax, wage and social debts +€24,614
up €24,614 (+29.6%), from €83,241 to €107,855
of which Taxes: +€22,822
- Profit (loss) carried forward +€19,965
up €19,965 (+20.6%), from €97,080 to €117,045
- Purchases and services +€112,207
up €112,207 (+15.1%), from €741,897 to €854,105
- Gross operating margin +€36,467
up €36,467 (+12.0%), from €304,820 to €341,287
- Taxes +€19,259
up €19,259 (+49.2%), from €39,167 to €58,426
- Depreciation +€18,460
up €18,460 (+49.2%), from €37,527 to €55,987
- Staff costs +€9,511
up €9,511 (+8.8%), from €108,318 to €117,829
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 | €489,827 | €880,723 | +€390,897 | +79.8% |
| Fixed assets | 21/28 | €280,263 | €654,976 | +€374,712 | +133.7% |
| Tangible fixed assets | 22/27 | €278,575 | €303,288 | +€24,712 | +8.9% |
| Land and buildings | 22 | €145,406 | €136,306 | -€9,100 | -6.3% |
| Plant, machinery and equipment | 23 | €6,627 | €4,913 | -€1,714 | -25.9% |
| Furniture and vehicles | 24 | €126,542 | €162,068 | +€35,526 | +28.1% |
| Financial fixed assets | 28 | €1,688 | €351,688 | +€350,000 | +20733.0% |
| Current assets | 29/58 | €209,563 | €225,747 | +€16,184 | +7.7% |
| Amounts receivable within one year | 40/41 | €85,566 | €146,973 | +€61,406 | +71.8% |
| Trade receivables | 40 | €74,852 | €112,321 | +€37,468 | +50.1% |
| Other amounts receivable | 41 | €10,714 | €34,652 | +€23,938 | +223.4% |
| Current investments | 50/53 | - | €10,055 | +€10,055 | |
| Cash at bank and in hand | 54/58 | €123,910 | €68,720 | -€55,190 | -44.5% |
| Deferred charges and accrued income | 490/1 | €87 | - | -€87 | |
| Total equity and liabilities | 10/49 | €489,827 | €880,723 | +€390,897 | +79.8% |
| Equity | 10/15 | €136,290 | €156,255 | +€19,965 | +14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,610 | €20,610 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,080 | €117,045 | +€19,965 | +20.6% |
| Amounts payable | 17/49 | €353,537 | €724,468 | +€370,931 | +104.9% |
| Amounts payable after more than one year | 17 | €177,118 | €392,095 | +€214,977 | +121.4% |
| Financial debts | 170/4 | €177,118 | €392,095 | +€214,977 | +121.4% |
| Amounts payable within one year | 42/48 | €174,649 | €332,373 | +€157,724 | +90.3% |
| Current portion of amounts payable after more than one year | 42 | €41,052 | €78,755 | +€37,702 | +91.8% |
| Trade debts | 44 | €2,985 | €3,394 | +€410 | +13.7% |
| Suppliers | 440/4 | €2,985 | €3,394 | +€410 | +13.7% |
| Taxes, remuneration and social security | 45 | €83,241 | €107,855 | +€24,614 | +29.6% |
| Taxes | 450/3 | €64,262 | €87,084 | +€22,822 | +35.5% |
| Remuneration and social security | 454/9 | €18,979 | €20,772 | +€1,792 | +9.4% |
| Other amounts payable | 47/48 | €47,370 | €142,368 | +€94,998 | +200.5% |
| Accrued charges and deferred income | 492/3 | €1,770 | - | -€1,770 | |
| Non-recurring operating income | 76A | - | €18,000 | +€18,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €741,897 | €854,105 | +€112,207 | +15.1% |
| Remuneration, social security and pensions | 62 | €108,318 | €117,829 | +€9,511 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,527 | €55,987 | +€18,460 | +49.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €749 | €773 | +€24 | +3.1% |
| Other operating charges | 640/8 | €3,068 | €3,521 | +€453 | +14.8% |
| Gross operating margin | 9900 | €304,820 | €341,287 | +€36,467 | +12.0% |
| Operating profit (loss) | 9901 | €155,158 | €163,178 | +€8,019 | +5.2% |
| Financial income | 75/76B | €720 | €56 | -€664 | -92.2% |
| Recurring financial income | 75 | €720 | €56 | -€664 | -92.2% |
| Financial charges | 65/66B | €7,457 | €12,473 | +€5,017 | +67.3% |
| Recurring financial charges | 65 | €7,457 | €12,473 | +€5,017 | +67.3% |
| Profit (loss) for the period before taxes | 9903 | €148,422 | €150,760 | +€2,339 | +1.6% |
| Income taxes | 67/77 | €39,167 | €58,426 | +€19,259 | +49.2% |
| Profit (loss) for the period | 9904 | €109,255 | €92,334 | -€16,921 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €109,255 | €92,334 | -€16,921 | -15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.