CUROVIAM: 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.
CUROVIAM
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+101%), from €1.1m to €2.2m
of which Land and buildings: +€1.1m
- Receivables within one year +€149,000
up €149,000 (+1,378%), from €10,810 to €159,810
of which Other amounts receivable: +€146,403
- Debts after one year +€1.3m
up €1.3m (+71.0%), from €1.8m to €3.0m
of which Financial debts: +€1.3m
- Profit (loss) carried forward +€369,014
up €369,014 (+180%), from €204,506 to €573,520
- Reserves -€262,955
down €262,955 (-79.3%), from €331,405 to €68,450
of which Tax-exempt reserves: -€262,955
- Provisions -€87,651
down €87,651 (-66.1%), from €132,651 to €45,000
of which Deferred taxes: -€87,651
- Current portion of long-term debt +€44,542
up €44,542 (+64.4%), from €69,129 to €113,671
- Financial income +€350,706
new in 2025: €350,706
of which Non-recurring financial income: +€350,606
- Depreciation +€92,714
up €92,714 (+192%), from €48,244 to €140,958
- Provisions -€45,000
no longer reported in 2025 (was €45,000)
- Gross operating margin +€35,117
up €35,117 (+16.6%), from €211,995 to €247,112
- Other operating charges +€22,987
up €22,987 (+367%), from €6,259 to €29,246
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 | €2,665,259 | €3,978,209 | +€1.3m | +49.3% |
| Fixed assets | 21/28 | €2,613,854 | €3,754,635 | +€1.1m | +43.6% |
| Tangible fixed assets | 22/27 | €1,118,324 | €2,244,105 | +€1.1m | +101% |
| Land and buildings | 22 | €1,116,766 | €2,243,632 | +€1.1m | +101% |
| Plant, machinery and equipment | 23 | €776 | - | -€776 | |
| Furniture and vehicles | 24 | €783 | €473 | -€310 | -39.6% |
| Financial fixed assets | 28 | €1,495,530 | €1,510,530 | +€15,000 | +1.0% |
| Current assets | 29/58 | €51,405 | €223,574 | +€172,169 | +335% |
| Amounts receivable after more than one year | 29 | €7,125 | €7,125 | = | 0.0% |
| Other amounts receivable | 291 | €7,125 | €7,125 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,810 | €159,810 | +€149,000 | +1,378% |
| Trade receivables | 40 | - | €2,597 | +€2,597 | |
| Other amounts receivable | 41 | €10,810 | €157,213 | +€146,403 | +1,354% |
| Cash at bank and in hand | 54/58 | €31,600 | €56,074 | +€24,474 | +77.4% |
| Deferred charges and accrued income | 490/1 | €1,870 | €565 | -€1,304 | -69.8% |
| Total equity and liabilities | 10/49 | €2,665,259 | €3,978,209 | +€1.3m | +49.3% |
| Equity | 10/15 | €597,911 | €703,970 | +€106,060 | +17.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €331,405 | €68,450 | -€262,955 | -79.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €285,205 | €22,250 | -€262,955 | -92.2% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,506 | €573,520 | +€369,014 | +180% |
| Provisions and deferred taxes | 16 | €132,651 | €45,000 | -€87,651 | -66.1% |
| Provisions for liabilities and charges | 160/5 | €45,000 | €45,000 | = | 0.0% |
| Environmental obligations | 163 | €45,000 | - | -€45,000 | |
| Other liabilities and charges | 164/5 | - | €45,000 | +€45,000 | |
| Deferred taxes | 168 | €87,651 | - | -€87,651 | |
| Amounts payable | 17/49 | €1,934,697 | €3,229,239 | +€1.3m | +66.9% |
| Amounts payable after more than one year | 17 | €1,778,877 | €3,041,586 | +€1.3m | +71.0% |
| Financial debts | 170/4 | €1,728,877 | €2,991,586 | +€1.3m | +73.0% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €153,420 | €185,252 | +€31,833 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €69,129 | €113,671 | +€44,542 | +64.4% |
| Trade debts | 44 | €32,084 | €13,259 | -€18,825 | -58.7% |
| Suppliers | 440/4 | €32,084 | €13,259 | -€18,825 | -58.7% |
| Taxes, remuneration and social security | 45 | €22,643 | €28,693 | +€6,050 | +26.7% |
| Taxes | 450/3 | €22,643 | €28,693 | +€6,050 | +26.7% |
| Other amounts payable | 47/48 | €29,564 | €29,629 | +€65 | +0.2% |
| Accrued charges and deferred income | 492/3 | €2,400 | €2,400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,244 | €140,958 | +€92,714 | +192% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €45,000 | - | -€45,000 | |
| Other operating charges | 640/8 | €6,259 | €29,246 | +€22,987 | +367% |
| Gross operating margin | 9900 | €211,995 | €247,112 | +€35,117 | +16.6% |
| Operating profit (loss) | 9901 | €112,492 | €76,908 | -€35,584 | -31.6% |
| Financial income | 75/76B | - | €350,706 | +€350,706 | |
| Recurring financial income | 75 | - | €100 | +€100 | |
| Non-recurring financial income | 76B | - | €350,606 | +€350,606 | |
| Financial charges | 65/66B | €34,700 | €52,549 | +€17,849 | +51.4% |
| Recurring financial charges | 65 | €34,700 | €52,549 | +€17,849 | +51.4% |
| Profit (loss) for the period before taxes | 9903 | €77,792 | €375,065 | +€297,273 | +382% |
| Income taxes | 67/77 | €14,359 | €6,050 | -€8,309 | -57.9% |
| Profit (loss) for the period | 9904 | €63,432 | €369,014 | +€305,582 | +482% |
| Profit (loss) for the period to be appropriated | 9905 | €63,432 | €369,014 | +€305,582 | +482% |
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 15 October 2026 via checked.be.