Curago: 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.
Curago
Largest movements
- Current investments -€27,915
down €27,915 (-17.1%), from €162,982 to €135,067
- Stocks and contracts +€17,416
up €17,416 (+51.1%), from €34,076 to €51,492
- Tangible fixed assets -€9,585
down €9,585 (-34.4%), from €27,883 to €18,299
of which Furniture and vehicles: -€5,286
- Deferred charges and accrued income -€4,297
down €4,297 (-71.6%), from €6,004 to €1,707
- Cash -€3,180
down €3,180 (-26.4%), from €12,026 to €8,846
mainly Contributions, distributions and other (-€100,000) and Net result for the year (-€73,061)
- Reserves -€173,061
down €173,061 (-75.3%), from €229,713 to €56,653
of which Distributable reserves: -€173,061
- Other debts +€107,435
new in 2025: €107,435
- Debts after one year +€25,000
new in 2025: €25,000
- Trade debts +€9,893
up €9,893 (+120%), from €8,216 to €18,109
- Financial income -€34,567
down €34,567 (-82.0%), from €42,146 to €7,578
- Gross operating margin -€6,712
down €6,712 (-23.5%), from -€28,527 to -€35,239
- Depreciation +€4,294
up €4,294 (+81.2%), from €5,291 to €9,585
- Staff costs +€3,875
up €3,875 (+16.1%), from €24,014 to €27,889
- Other operating charges +€2,703
up €2,703 (+65.4%), from €4,131 to €6,834
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 | €264,619 | €236,574 | -€28,045 | -10.6% |
| Fixed assets | 21/28 | €27,883 | €18,299 | -€9,585 | -34.4% |
| Tangible fixed assets | 22/27 | €27,883 | €18,299 | -€9,585 | -34.4% |
| Land and buildings | 22 | €6,669 | €5,272 | -€1,397 | -20.9% |
| Plant, machinery and equipment | 23 | €9,184 | €6,282 | -€2,902 | -31.6% |
| Furniture and vehicles | 24 | €12,030 | €6,744 | -€5,286 | -43.9% |
| Current assets | 29/58 | €236,736 | €218,275 | -€18,461 | -7.8% |
| Stocks and contracts in progress | 3 | €34,076 | €51,492 | +€17,416 | +51.1% |
| Stocks | 30/36 | €34,076 | €51,492 | +€17,416 | +51.1% |
| Amounts receivable within one year | 40/41 | €21,648 | €21,163 | -€485 | -2.2% |
| Trade receivables | 40 | €6,609 | €20,664 | +€14,056 | +213% |
| Other amounts receivable | 41 | €15,039 | €499 | -€14,541 | -96.7% |
| Current investments | 50/53 | €162,982 | €135,067 | -€27,915 | -17.1% |
| Cash at bank and in hand | 54/58 | €12,026 | €8,846 | -€3,180 | -26.4% |
| Deferred charges and accrued income | 490/1 | €6,004 | €1,707 | -€4,297 | -71.6% |
| Total equity and liabilities | 10/49 | €264,619 | €236,574 | -€28,045 | -10.6% |
| Equity | 10/15 | €248,313 | €75,253 | -€173,061 | -69.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €229,713 | €56,653 | -€173,061 | -75.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €227,853 | €54,793 | -€173,061 | -76.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,305 | €161,321 | +€145,015 | +889% |
| Amounts payable after more than one year | 17 | - | €25,000 | +€25,000 | |
| Financial debts | 170/4 | - | €25,000 | +€25,000 | |
| Amounts payable within one year | 42/48 | €16,305 | €135,352 | +€119,046 | +730% |
| Trade debts | 44 | €8,216 | €18,109 | +€9,893 | +120% |
| Suppliers | 440/4 | €8,216 | €18,109 | +€9,893 | +120% |
| Taxes, remuneration and social security | 45 | €8,090 | €9,808 | +€1,718 | +21.2% |
| Taxes | 450/3 | €2,058 | €5,766 | +€3,708 | +180% |
| Remuneration and social security | 454/9 | €6,032 | €4,042 | -€1,990 | -33.0% |
| Other amounts payable | 47/48 | - | €107,435 | +€107,435 | |
| Accrued charges and deferred income | 492/3 | €0 | €969 | +€969 | |
| Remuneration, social security and pensions | 62 | €24,014 | €27,889 | +€3,875 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,291 | €9,585 | +€4,294 | +81.2% |
| Other operating charges | 640/8 | €4,131 | €6,834 | +€2,703 | +65.4% |
| Gross operating margin | 9900 | -€28,527 | -€35,239 | -€6,712 | -23.5% |
| Operating profit (loss) | 9901 | -€61,963 | -€79,547 | -€17,584 | -28.4% |
| Financial income | 75/76B | €42,146 | €7,578 | -€34,567 | -82.0% |
| Recurring financial income | 75 | €42,146 | €7,578 | -€34,567 | -82.0% |
| Financial charges | 65/66B | €151 | €1,092 | +€941 | +622% |
| Recurring financial charges | 65 | €151 | €1,092 | +€941 | +622% |
| Profit (loss) for the period before taxes | 9903 | -€19,969 | -€73,061 | -€53,092 | -266% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€19,969 | -€73,061 | -€53,092 | -266% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,969 | -€73,061 | -€53,092 | -266% |
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.