DIDIER COURTOIS: what changed
DIDIER COURTOIS
Largest movements
- Tangible fixed assets -€39,620
down €39,620 (-75.9%), from €52,167 to €12,547
of which Furniture and vehicles: -€37,784
- Receivables within one year +€6,533
up €6,533 (+25.6%), from €25,517 to €32,050
of which Trade receivables: +€6,683
- Cash -€2,574
down €2,574 (-11.6%), from €22,140 to €19,566
mainly Debts after one year (-€34,132) and Receivables within one year (-€6,533)
- Debts after one year -€34,132
down €34,132 (-43.0%), from €79,394 to €45,262
- Other debts +€7,003
up €7,003 (+17.6%), from €39,693 to €46,696
- Profit (loss) carried forward -€4,838
down €4,838 (-4.4%), from -€110,880 to -€115,718
- Current portion of long-term debt -€2,760
down €2,760 (-7.5%), from €36,892 to €34,132
- Advances received -€2,350
no longer reported in 2025 (was €2,350)
- Gross operating margin +€33,016
up €33,016 (+223%), from €14,824 to €47,839
- Depreciation -€10,550
down €10,550 (-21.0%), from €50,170 to €39,620
- Other operating charges +€5,365
up €5,365 (+232%), from €2,309 to €7,674
- Financial charges -€1,624
down €1,624 (-23.0%), from €7,057 to €5,433
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,165 | €65,489 | -€35,677 | -35.3% |
| Fixed assets | 21/28 | €52,167 | €12,547 | -€39,620 | -75.9% |
| Tangible fixed assets | 22/27 | €52,167 | €12,547 | -€39,620 | -75.9% |
| Plant, machinery and equipment | 23 | €3,390 | €1,553 | -€1,837 | -54.2% |
| Furniture and vehicles | 24 | €48,777 | €10,993 | -€37,784 | -77.5% |
| Current assets | 29/58 | €48,998 | €52,942 | +€3,943 | +8.0% |
| Amounts receivable within one year | 40/41 | €25,517 | €32,050 | +€6,533 | +25.6% |
| Trade receivables | 40 | €23,491 | €30,174 | +€6,683 | +28.4% |
| Other amounts receivable | 41 | €2,026 | €1,876 | -€150 | -7.4% |
| Cash at bank and in hand | 54/58 | €22,140 | €19,566 | -€2,574 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,342 | €1,327 | -€15 | -1.1% |
| Total equity and liabilities | 10/49 | €101,165 | €65,489 | -€35,677 | -35.3% |
| Equity | 10/15 | -€100,880 | -€105,718 | -€4,838 | -4.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,880 | -€115,718 | -€4,838 | -4.4% |
| Amounts payable | 17/49 | €202,045 | €171,207 | -€30,839 | -15.3% |
| Amounts payable after more than one year | 17 | €79,394 | €45,262 | -€34,132 | -43.0% |
| Financial debts | 170/4 | €79,394 | €45,262 | -€34,132 | -43.0% |
| Amounts payable within one year | 42/48 | €122,652 | €124,955 | +€2,303 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €36,892 | €34,132 | -€2,760 | -7.5% |
| Trade debts | 44 | €40,417 | €40,742 | +€325 | +0.8% |
| Suppliers | 440/4 | €40,417 | €40,742 | +€325 | +0.8% |
| Advances received on contracts in progress | 46 | €2,350 | - | -€2,350 | |
| Taxes, remuneration and social security | 45 | €3,300 | €3,385 | +€85 | +2.6% |
| Taxes | 450/3 | €3,300 | €3,385 | +€85 | +2.6% |
| Other amounts payable | 47/48 | €39,693 | €46,696 | +€7,003 | +17.6% |
| Accrued charges and deferred income | 492/3 | - | €990 | +€990 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,170 | €39,620 | -€10,550 | -21.0% |
| Other operating charges | 640/8 | €2,309 | €7,674 | +€5,365 | +232% |
| Gross operating margin | 9900 | €14,824 | €47,839 | +€33,016 | +223% |
| Operating profit (loss) | 9901 | -€37,656 | €545 | +€38,201 | |
| Financial income | 75/76B | - | €50 | +€50 | |
| Recurring financial income | 75 | - | €50 | +€50 | |
| Financial charges | 65/66B | €7,057 | €5,433 | -€1,624 | -23.0% |
| Recurring financial charges | 65 | €7,057 | €5,433 | -€1,624 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | -€44,713 | -€4,838 | +€39,875 | +89.2% |
| Profit (loss) for the period | 9904 | -€44,713 | -€4,838 | +€39,875 | +89.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,713 | -€4,838 | +€39,875 | +89.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.