CURO-MANAGEMENT: 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.
CURO-MANAGEMENT
Largest movements
- Receivables within one year +€88,966
up €88,966 (+47.5%), from €187,214 to €276,180
of which Trade receivables: +€68,493
- Cash -€8,936
down €8,936 (-43.7%), from €20,439 to €11,503
mainly Receivables within one year (-€88,966) and Tax, wage and social debts (-€17,403)
- Tangible fixed assets -€7,334
down €7,334 (-50.5%), from €14,518 to €7,184
of which Plant, machinery and equipment: -€7,254
- Trade debts +€61,355
up €61,355 (+1,459%), from €4,204 to €65,559
- Reserves +€28,821
up €28,821 (+59.8%), from €48,215 to €77,036
- Tax, wage and social debts -€17,403
down €17,403 (-40.0%), from €43,474 to €26,071
of which Taxes: -€15,191
- Gross operating margin -€42,019
down €42,019 (-48.4%), from €86,803 to €44,783
- Other operating charges -€25,328
down €25,328 (-97.7%), from €25,930 to €602
- Taxes -€22,971
down €22,971 (-61.2%), from €37,526 to €14,554
- Financial charges -€4,424
down €4,424 (-74.4%), from €5,948 to €1,524
- Write-downs -€1,087
no longer reported in 2025 (was €1,087)
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 | €230,984 | €303,819 | +€72,835 | +31.5% |
| Fixed assets | 21/28 | €14,518 | €7,184 | -€7,334 | -50.5% |
| Tangible fixed assets | 22/27 | €14,518 | €7,184 | -€7,334 | -50.5% |
| Plant, machinery and equipment | 23 | €14,359 | €7,105 | -€7,254 | -50.5% |
| Furniture and vehicles | 24 | €159 | €79 | -€80 | -50.3% |
| Current assets | 29/58 | €216,465 | €296,635 | +€80,169 | +37.0% |
| Stocks and contracts in progress | 3 | €500 | €500 | = | 0.0% |
| Stocks | 30/36 | €500 | €500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €187,214 | €276,180 | +€88,966 | +47.5% |
| Trade receivables | 40 | €26,517 | €95,010 | +€68,493 | +258% |
| Other amounts receivable | 41 | €160,697 | €181,171 | +€20,474 | +12.7% |
| Cash at bank and in hand | 54/58 | €20,439 | €11,503 | -€8,936 | -43.7% |
| Deferred charges and accrued income | 490/1 | €8,313 | €8,451 | +€139 | +1.7% |
| Total equity and liabilities | 10/49 | €230,984 | €303,819 | +€72,835 | +31.5% |
| Equity | 10/15 | €88,215 | €117,036 | +€28,821 | +32.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €48,215 | €77,036 | +€28,821 | +59.8% |
| Distributable reserves | 133 | €48,215 | €77,036 | +€28,821 | +59.8% |
| Amounts payable | 17/49 | €142,768 | €186,783 | +€44,014 | +30.8% |
| Amounts payable within one year | 42/48 | €142,768 | €186,783 | +€44,014 | +30.8% |
| Trade debts | 44 | €4,204 | €65,559 | +€61,355 | +1,459% |
| Suppliers | 440/4 | €4,204 | €65,559 | +€61,355 | +1,459% |
| Taxes, remuneration and social security | 45 | €43,474 | €26,071 | -€17,403 | -40.0% |
| Taxes | 450/3 | €34,543 | €19,352 | -€15,191 | -44.0% |
| Remuneration and social security | 454/9 | €8,931 | €6,719 | -€2,213 | -24.8% |
| Other amounts payable | 47/48 | €95,091 | €95,154 | +€63 | +0.1% |
| Non-recurring operating income | 76A | €17,189 | - | -€17,189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,334 | €7,334 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,087 | - | -€1,087 | |
| Other operating charges | 640/8 | €25,930 | €602 | -€25,328 | -97.7% |
| Gross operating margin | 9900 | €86,803 | €44,783 | -€42,019 | -48.4% |
| Operating profit (loss) | 9901 | €52,452 | €36,848 | -€15,604 | -29.7% |
| Financial income | 75/76B | €7,901 | €8,052 | +€151 | +1.9% |
| Recurring financial income | 75 | €7,901 | €8,052 | +€151 | +1.9% |
| Financial charges | 65/66B | €5,948 | €1,524 | -€4,424 | -74.4% |
| Recurring financial charges | 65 | €5,948 | €1,524 | -€4,424 | -74.4% |
| Profit (loss) for the period before taxes | 9903 | €54,404 | €43,375 | -€11,029 | -20.3% |
| Income taxes | 67/77 | €37,526 | €14,554 | -€22,971 | -61.2% |
| Profit (loss) for the period | 9904 | €16,878 | €28,821 | +€11,942 | +70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,878 | €28,821 | +€11,942 | +70.8% |
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 25 October 2026 via checked.be.