CURAFORM: 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.
What changed
CURAFORM
NACE 16.110, Sawmilling and planing of wood
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€154,790
2024 · €192,518-€37,728
Equity
€1.3m
2024 · €1.2m+€115,790
Cash
€53,245
2024 · €201,589-€148,344
Balance sheet total
€1.7m
2024 · €1.6m+€91,284
Largest movements
Assets
- Tangible fixed assets +€166,397
up €166,397 (+15.1%), from €1.1m to €1.3m
of which Plant, machinery and equipment: +€215,454
- Cash -€148,344
down €148,344 (-73.6%), from €201,589 to €53,245
mainly Investment in fixed assets (net) (-€363,489) and Receivables within one year (-€55,605)
- Receivables within one year +€55,605
up €55,605 (+33.4%), from €166,404 to €222,010
of which Trade receivables: +€58,339
Equity and liabilities
- Reserves +€115,790
up €115,790 (+10.6%), from €1.1m to €1.2m
of which Distributable reserves: +€115,790
- Debts after one year -€46,547
down €46,547 (-13.4%), from €346,547 to €300,000
Income statement
- Depreciation +€62,995
up €62,995 (+46.7%), from €134,898 to €197,893
- Gross operating margin +€27,588
up €27,588 (+5.7%), from €479,886 to €507,474
- Taxes -€8,848
down €8,848 (-13.3%), from €66,569 to €57,722
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.
Result 2024
€192,518
Gross operating margin
+€27,588
Staff costs
-€4,813
Depreciation
-€62,995
Provisions
+€230
Other operating charges
-€2,476
Financial income
-€67
Financial charges
-€4,043
Taxes
+€8,848
Result 2025
€154,790
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.
From operations
+€298,474
Investment
-€363,489
Financing
-€83,328
Cash 2024
€201,589
From operations (derived)
+€298,474
Net result for the year
+€154,790
Depreciation
+€197,893
Stocks and contracts
-€15,002
Receivables within one year
-€55,605
Deferred charges and accrued income
-€3,424
Smaller working-capital items
-€279
Trade debts
+€6,265
Tax, wage and social debts
+€13,837
Investment (derived)
-€363,489
Investment in fixed assets (net)
-€363,489
Financing
-€83,328
Debts after one year
-€46,547
Current portion of long-term debt
+€2,219
Contributions, distributions and other
-€39,000
Cash 2025
€53,245
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,635,454 | €1,726,738 | +€91,284 | +5.6% |
| Fixed assets | 21/28 | €1,102,360 | €1,267,957 | +€165,597 | +15.0% |
| Intangible fixed assets | 21 | €1,760 | €960 | -€800 | -45.5% |
| Tangible fixed assets | 22/27 | €1,100,338 | €1,266,735 | +€166,397 | +15.1% |
| Land and buildings | 22 | €772,185 | €726,867 | -€45,318 | -5.9% |
| Plant, machinery and equipment | 23 | €319,045 | €534,499 | +€215,454 | +67.5% |
| Furniture and vehicles | 24 | €9,108 | €5,368 | -€3,740 | -41.1% |
| Financial fixed assets | 28 | €262 | €262 | = | 0.0% |
| Current assets | 29/58 | €533,093 | €458,781 | -€74,312 | -13.9% |
| Stocks and contracts in progress | 3 | €157,365 | €172,367 | +€15,002 | +9.5% |
| Stocks | 30/36 | €157,365 | €172,367 | +€15,002 | +9.5% |
| Amounts receivable within one year | 40/41 | €166,404 | €222,010 | +€55,605 | +33.4% |
| Trade receivables | 40 | €161,378 | €219,717 | +€58,339 | +36.2% |
| Other amounts receivable | 41 | €5,026 | €2,292 | -€2,734 | -54.4% |
| Cash at bank and in hand | 54/58 | €201,589 | €53,245 | -€148,344 | -73.6% |
| Deferred charges and accrued income | 490/1 | €7,735 | €11,159 | +€3,424 | +44.3% |
| Total equity and liabilities | 10/49 | €1,635,454 | €1,726,738 | +€91,284 | +5.6% |
| Equity | 10/15 | €1,155,192 | €1,270,982 | +€115,790 | +10.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,093,219 | €1,209,009 | +€115,790 | +10.6% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,087,021 | €1,202,811 | +€115,790 | +10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €20,971 | €20,692 | -€279 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €20,971 | €20,692 | -€279 | -1.3% |
| Other liabilities and charges | 164/5 | €20,971 | €20,692 | -€279 | -1.3% |
| Amounts payable | 17/49 | €459,290 | €435,063 | -€24,227 | -5.3% |
| Amounts payable after more than one year | 17 | €346,547 | €300,000 | -€46,547 | -13.4% |
| Financial debts | 170/4 | €346,547 | €300,000 | -€46,547 | -13.4% |
| Amounts payable within one year | 42/48 | €112,743 | €135,064 | +€22,320 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €55,714 | €57,933 | +€2,219 | +4.0% |
| Trade debts | 44 | €18,587 | €24,851 | +€6,265 | +33.7% |
| Suppliers | 440/4 | €18,587 | €24,851 | +€6,265 | +33.7% |
| Taxes, remuneration and social security | 45 | €38,140 | €51,976 | +€13,837 | +36.3% |
| Taxes | 450/3 | €34,431 | €48,171 | +€13,740 | +39.9% |
| Remuneration and social security | 454/9 | €3,709 | €3,806 | +€97 | +2.6% |
| Other amounts payable | 47/48 | €303 | €303 | +€0 | 0.0% |
| Non-recurring operating income | 76A | €925 | €0 | -€925 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,658 | €65,471 | +€4,813 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,898 | €197,893 | +€62,995 | +46.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€230 | -€230 | |
| Other operating charges | 640/8 | €8,960 | €11,435 | +€2,476 | +27.6% |
| Gross operating margin | 9900 | €479,886 | €507,474 | +€27,588 | +5.7% |
| Operating profit (loss) | 9901 | €275,371 | €232,905 | -€42,465 | -15.4% |
| Financial income | 75/76B | €19,654 | €19,586 | -€67 | -0.3% |
| Recurring financial income | 75 | €19,654 | €19,586 | -€67 | -0.3% |
| Financial charges | 65/66B | €35,938 | €39,981 | +€4,043 | +11.2% |
| Recurring financial charges | 65 | €35,938 | €39,981 | +€4,043 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €259,087 | €212,511 | -€46,575 | -18.0% |
| Income taxes | 67/77 | €66,569 | €57,722 | -€8,848 | -13.3% |
| Profit (loss) for the period | 9904 | €192,518 | €154,790 | -€37,728 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | €192,518 | €154,790 | -€37,728 | -19.6% |
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 8 October 2026 via checked.be.