CURTRES: 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.
CURTRES
Largest movements
- Stocks and contracts -€37,961
down €37,961 (-9.2%), from €414,275 to €376,314
- Cash +€16,823
up €16,823 (+6.0%), from €281,464 to €298,287
mainly Stocks and contracts (+€37,961) and Depreciation (+€10,425)
- Tangible fixed assets -€9,289
down €9,289 (-45.0%), from €20,636 to €11,347
of which Plant, machinery and equipment: -€4,736
- Other debts -€14,605
down €14,605 (-76.3%), from €19,141 to €4,536
- Reserves -€13,437
down €13,437 (-3.9%), from €340,492 to €327,055
- Tax, wage and social debts -€9,939
down €9,939 (-17.6%), from €56,407 to €46,469
of which Remuneration and social security: -€7,049
- Trade debts +€9,528
up €9,528 (+6.1%), from €157,053 to €166,581
- Staff costs -€54,926
down €54,926 (-17.5%), from €312,991 to €258,066
- Gross operating margin -€45,676
down €45,676 (-15.3%), from €297,679 to €252,002
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €738,402 | €705,874 | -€32,528 | -4.4% |
| Fixed assets | 21/28 | €31,229 | €22,068 | -€9,161 | -29.3% |
| Tangible fixed assets | 22/27 | €20,636 | €11,347 | -€9,289 | -45.0% |
| Plant, machinery and equipment | 23 | €12,835 | €8,099 | -€4,736 | -36.9% |
| Furniture and vehicles | 24 | €7,801 | €3,248 | -€4,553 | -58.4% |
| Financial fixed assets | 28 | €10,593 | €10,721 | +€128 | +1.2% |
| Current assets | 29/58 | €707,173 | €683,806 | -€23,367 | -3.3% |
| Stocks and contracts in progress | 3 | €414,275 | €376,314 | -€37,961 | -9.2% |
| Stocks | 30/36 | €414,275 | €376,314 | -€37,961 | -9.2% |
| Amounts receivable within one year | 40/41 | €7,037 | €3,184 | -€3,853 | -54.8% |
| Trade receivables | 40 | €6,526 | €1,535 | -€4,990 | -76.5% |
| Other amounts receivable | 41 | €511 | €1,649 | +€1,137 | +222.3% |
| Cash at bank and in hand | 54/58 | €281,464 | €298,287 | +€16,823 | +6.0% |
| Deferred charges and accrued income | 490/1 | €4,397 | €6,021 | +€1,624 | +36.9% |
| Total equity and liabilities | 10/49 | €738,402 | €705,874 | -€32,528 | -4.4% |
| Equity | 10/15 | €494,092 | €480,655 | -€13,437 | -2.7% |
| Contributions | 10/11 | €153,600 | €153,600 | = | 0.0% |
| Reserves | 13 | €340,492 | €327,055 | -€13,437 | -3.9% |
| Distributable reserves | 133 | €340,492 | €327,055 | -€13,437 | -3.9% |
| Amounts payable | 17/49 | €244,309 | €225,219 | -€19,091 | -7.8% |
| Amounts payable after more than one year | 17 | €2,397 | - | -€2,397 | |
| Financial debts | 170/4 | €2,397 | - | -€2,397 | |
| Amounts payable within one year | 42/48 | €236,460 | €220,281 | -€16,178 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €3,858 | €2,696 | -€1,163 | -30.1% |
| Trade debts | 44 | €157,053 | €166,581 | +€9,528 | +6.1% |
| Suppliers | 440/4 | €157,053 | €166,581 | +€9,528 | +6.1% |
| Taxes, remuneration and social security | 45 | €56,407 | €46,469 | -€9,939 | -17.6% |
| Taxes | 450/3 | €7,429 | €4,539 | -€2,890 | -38.9% |
| Remuneration and social security | 454/9 | €48,978 | €41,930 | -€7,049 | -14.4% |
| Other amounts payable | 47/48 | €19,141 | €4,536 | -€14,605 | -76.3% |
| Accrued charges and deferred income | 492/3 | €5,453 | €4,937 | -€515 | -9.4% |
| Remuneration, social security and pensions | 62 | €312,991 | €258,066 | -€54,926 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,223 | €10,425 | -€2,798 | -21.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,661 | -€5,702 | -€1,041 | -22.3% |
| Other operating charges | 640/8 | €1,757 | €1,718 | -€40 | -2.3% |
| Non-recurring operating charges | 66A | - | €500 | +€500 | |
| Gross operating margin | 9900 | €297,679 | €252,002 | -€45,676 | -15.3% |
| Operating profit (loss) | 9901 | -€25,632 | -€13,003 | +€12,628 | +49.3% |
| Financial income | 75/76B | €5,522 | €6,689 | +€1,167 | +21.1% |
| Recurring financial income | 75 | €5,522 | €6,689 | +€1,167 | +21.1% |
| Financial charges | 65/66B | €6,073 | €6,951 | +€878 | +14.5% |
| Recurring financial charges | 65 | €6,073 | €6,951 | +€878 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,183 | -€13,265 | +€12,918 | +49.3% |
| Income taxes | 67/77 | €125 | €172 | +€48 | +38.3% |
| Profit (loss) for the period | 9904 | -€26,307 | -€13,437 | +€12,870 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,307 | -€13,437 | +€12,870 | +48.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.