DE COUREUR: 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.
DE COUREUR
Largest movements
- Cash +€98,680
up €98,680 (+34.7%), from €283,986 to €382,667
mainly Other debts (+€244,065) and Net result for the year (+€101,247)
- Tangible fixed assets -€24,751
down €24,751 (-8.5%), from €292,145 to €267,394
of which Furniture and vehicles: -€18,256
- Receivables within one year -€19,392
down €19,392 (-51.3%), from €37,787 to €18,395
of which Trade receivables: -€23,726
- Stocks and contracts -€18,647
down €18,647 (-3.9%), from €480,545 to €461,898
- Other debts +€244,065
up €244,065 (+766%), from €31,865 to €275,930
- Reserves -€143,527
down €143,527 (-21.9%), from €655,710 to €512,184
of which Distributable reserves: -€143,527
- Trade debts -€49,362
down €49,362 (-61.6%), from €80,144 to €30,782
- Debts after one year -€45,473
down €45,473 (-28.2%), from €161,189 to €115,716
of which Financial debts: -€38,951
- Current portion of long-term debt +€37,585
up €37,585 (+108%), from €34,675 to €72,259
- Gross operating margin -€21,730
down €21,730 (-7.7%), from €282,968 to €261,238
- Taxes -€10,956
down €10,956 (-20.1%), from €54,552 to €43,596
- Staff costs +€9,636
up €9,636 (+15.0%), from €64,084 to €73,719
- Depreciation +€6,570
up €6,570 (+21.9%), from €30,000 to €36,570
- Financial charges -€5,801
down €5,801 (-27.7%), from €20,928 to €15,128
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 | €1,100,096 | €1,135,134 | +€35,039 | +3.2% |
| Fixed assets | 21/28 | €292,145 | €267,394 | -€24,751 | -8.5% |
| Tangible fixed assets | 22/27 | €292,145 | €267,394 | -€24,751 | -8.5% |
| Land and buildings | 22 | €202,774 | €192,765 | -€10,009 | -4.9% |
| Plant, machinery and equipment | 23 | €11,903 | €15,417 | +€3,514 | +29.5% |
| Furniture and vehicles | 24 | €77,468 | €59,213 | -€18,256 | -23.6% |
| Current assets | 29/58 | €807,951 | €867,740 | +€59,789 | +7.4% |
| Stocks and contracts in progress | 3 | €480,545 | €461,898 | -€18,647 | -3.9% |
| Stocks | 30/36 | €480,545 | €461,898 | -€18,647 | -3.9% |
| Amounts receivable within one year | 40/41 | €37,787 | €18,395 | -€19,392 | -51.3% |
| Trade receivables | 40 | €37,786 | €14,060 | -€23,726 | -62.8% |
| Other amounts receivable | 41 | €1 | €4,335 | +€4,334 | +383,539% |
| Cash at bank and in hand | 54/58 | €283,986 | €382,667 | +€98,680 | +34.7% |
| Deferred charges and accrued income | 490/1 | €5,632 | €4,780 | -€852 | -15.1% |
| Total equity and liabilities | 10/49 | €1,100,096 | €1,135,134 | +€35,039 | +3.2% |
| Equity | 10/15 | €675,710 | €532,184 | -€143,527 | -21.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €655,710 | €512,184 | -€143,527 | -21.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €331 | €331 | = | 0.0% |
| Distributable reserves | 133 | €655,379 | €511,853 | -€143,527 | -21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €424,385 | €602,951 | +€178,566 | +42.1% |
| Amounts payable after more than one year | 17 | €161,189 | €115,716 | -€45,473 | -28.2% |
| Financial debts | 170/4 | €133,557 | €94,607 | -€38,951 | -29.2% |
| Other amounts payable | 178/9 | €27,632 | €21,110 | -€6,522 | -23.6% |
| Amounts payable within one year | 42/48 | €263,196 | €487,235 | +€224,039 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €34,675 | €72,259 | +€37,585 | +108% |
| Financial debts | 43 | €6,281 | €7,055 | +€774 | +12.3% |
| Other loans | 439 | €6,281 | €7,055 | +€774 | +12.3% |
| Trade debts | 44 | €80,144 | €30,782 | -€49,362 | -61.6% |
| Suppliers | 440/4 | €80,144 | €30,782 | -€49,362 | -61.6% |
| Taxes, remuneration and social security | 45 | €110,232 | €101,209 | -€9,023 | -8.2% |
| Taxes | 450/3 | €103,321 | €92,183 | -€11,139 | -10.8% |
| Remuneration and social security | 454/9 | €6,910 | €9,026 | +€2,116 | +30.6% |
| Other amounts payable | 47/48 | €31,865 | €275,930 | +€244,065 | +766% |
| Non-recurring operating income | 76A | €2,320 | €0 | -€2,320 | -100% |
| Remuneration, social security and pensions | 62 | €64,084 | €73,719 | +€9,636 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,000 | €36,570 | +€6,570 | +21.9% |
| Other operating charges | 640/8 | €2,932 | €3,024 | +€91 | +3.1% |
| Gross operating margin | 9900 | €282,968 | €261,238 | -€21,730 | -7.7% |
| Operating profit (loss) | 9901 | €185,952 | €147,925 | -€38,027 | -20.4% |
| Financial income | 75/76B | €8,210 | €12,045 | +€3,835 | +46.7% |
| Recurring financial income | 75 | €8,210 | €12,045 | +€3,835 | +46.7% |
| Financial charges | 65/66B | €20,928 | €15,128 | -€5,801 | -27.7% |
| Recurring financial charges | 65 | €20,928 | €15,128 | -€5,801 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €173,234 | €144,842 | -€28,392 | -16.4% |
| Income taxes | 67/77 | €54,552 | €43,596 | -€10,956 | -20.1% |
| Profit (loss) for the period | 9904 | €118,682 | €101,247 | -€17,436 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €118,682 | €101,247 | -€17,436 | -14.7% |
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 27 October 2026 via checked.be.