Curb S-M Group: 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.
What changed
Curb S-M Group
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€11,338
2024 · €16,147-€4,808
Equity
€41,045
2024 · €29,706+€11,338
Cash
€3,277
2024 · €983+€2,294
Balance sheet total
€621,267
2024 · €638,042-€16,775
Largest movements
Assets
- Tangible fixed assets -€19,141
down €19,141 (-3.1%), from €626,044 to €606,904
of which Land and buildings: -€19,047
Equity and liabilities
- Debts after one year -€24,898
down €24,898 (-5.5%), from €454,218 to €429,320
- Profit (loss) carried forward +€11,338
new in 2025: €11,338
Income statement
- Other operating charges +€5,523
up €5,523 (+439%), from €1,259 to €6,781
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
€16,147
Gross operating margin
-€78
Depreciation
+€241
Other operating charges
-€5,523
Financial charges
+€294
Taxes
+€257
Result 2025
€11,338
raises the resultlowers the result
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.
From operations
+€27,252
Investment
+€51
Financing
-€25,010
Cash 2024
€983
From operations (derived)
+€27,252
Net result for the year
+€11,338
Depreciation
+€19,089
Receivables within one year
-€72
Trade debts
-€1,390
Tax, wage and social debts
-€1,724
Other debts
+€10
Investment (derived)
+€51
Investment in fixed assets (net)
+€51
Financing
-€25,010
Debts after one year
-€24,898
Current portion of long-term debt
-€111
Cash 2025
€3,277
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €638,042 | €621,267 | -€16,775 | -2.6% |
| Fixed assets | 21/28 | €626,044 | €606,904 | -€19,141 | -3.1% |
| Tangible fixed assets | 22/27 | €626,044 | €606,904 | -€19,141 | -3.1% |
| Land and buildings | 22 | €625,935 | €606,888 | -€19,047 | -3.0% |
| Plant, machinery and equipment | 23 | €109 | €16 | -€93 | -85.6% |
| Current assets | 29/58 | €11,998 | €14,363 | +€2,366 | +19.7% |
| Amounts receivable within one year | 40/41 | €11,015 | €11,086 | +€72 | +0.7% |
| Trade receivables | 40 | €7,000 | €7,000 | +€0 | 0.0% |
| Other amounts receivable | 41 | €4,015 | €4,086 | +€72 | +1.8% |
| Cash at bank and in hand | 54/58 | €983 | €3,277 | +€2,294 | +233% |
| Total equity and liabilities | 10/49 | €638,042 | €621,267 | -€16,775 | -2.6% |
| Equity | 10/15 | €29,706 | €41,045 | +€11,338 | +38.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €27,706 | €27,706 | = | 0.0% |
| Distributable reserves | 133 | €27,706 | €27,706 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €11,338 | +€11,338 | |
| Amounts payable | 17/49 | €608,336 | €580,222 | -€28,113 | -4.6% |
| Amounts payable after more than one year | 17 | €454,218 | €429,320 | -€24,898 | -5.5% |
| Financial debts | 170/4 | €454,218 | €429,320 | -€24,898 | -5.5% |
| Amounts payable within one year | 42/48 | €151,336 | €148,122 | -€3,215 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €25,047 | €24,935 | -€111 | -0.4% |
| Trade debts | 44 | €2,297 | €908 | -€1,390 | -60.5% |
| Suppliers | 440/4 | €2,297 | €908 | -€1,390 | -60.5% |
| Taxes, remuneration and social security | 45 | €17,355 | €15,631 | -€1,724 | -9.9% |
| Taxes | 450/3 | €17,355 | €15,631 | -€1,724 | -9.9% |
| Other amounts payable | 47/48 | €106,638 | €106,647 | +€10 | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,781 | €2,781 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,330 | €19,089 | -€241 | -1.2% |
| Other operating charges | 640/8 | €1,259 | €6,781 | +€5,523 | +439% |
| Gross operating margin | 9900 | €50,459 | €50,381 | -€78 | -0.2% |
| Operating profit (loss) | 9901 | €29,870 | €24,511 | -€5,359 | -17.9% |
| Financial charges | 65/66B | €9,687 | €9,393 | -€294 | -3.0% |
| Recurring financial charges | 65 | €9,687 | €9,393 | -€294 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €20,183 | €15,118 | -€5,065 | -25.1% |
| Income taxes | 67/77 | €4,037 | €3,779 | -€257 | -6.4% |
| Profit (loss) for the period | 9904 | €16,147 | €11,338 | -€4,808 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,147 | €11,338 | -€4,808 | -29.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.