ECURIE COURARD: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
ECURIE COURARD
Largest movements
- Cash -€16,317
down €16,317 (-68.1%), from €23,965 to €7,648
mainly Receivables within one year (-€12,718) and Other debts (-€4,083)
- Receivables within one year +€12,718
up €12,718 (+1,457%), from €873 to €13,591
of which Trade receivables: +€9,600
- Tangible fixed assets -€826
down €826 (-33.3%), from €2,479 to €1,653
- Other debts -€4,083
no longer reported in 2025 (was €4,083)
- Trade debts -€702
no longer reported in 2025 (was €702)
- Profit (loss) carried forward +€379
up €379 (+27.8%), from €1,361 to €1,740
- Gross operating margin -€1,786
down €1,786 (-49.3%), from €3,625 to €1,839
- Other operating charges -€588
down €588 (-51.9%), from €1,132 to €544
- Financial charges -€247
down €247 (-69.0%), from €358 to €111
- Financial income -€149
down €149 (-98.7%), from €151 to €2
- Write-downs -€99
no longer reported in 2025 (was €99)
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 | €27,317 | €22,892 | -€4,425 | -16.2% |
| Fixed assets | 21/28 | €2,479 | €1,653 | -€826 | -33.3% |
| Tangible fixed assets | 22/27 | €2,479 | €1,653 | -€826 | -33.3% |
| Furniture and vehicles | 24 | €2,479 | €1,653 | -€826 | -33.3% |
| Current assets | 29/58 | €24,838 | €21,239 | -€3,599 | -14.5% |
| Amounts receivable within one year | 40/41 | €873 | €13,591 | +€12,718 | +1,457% |
| Trade receivables | 40 | - | €9,600 | +€9,600 | |
| Other amounts receivable | 41 | €873 | €3,991 | +€3,118 | +357% |
| Cash at bank and in hand | 54/58 | €23,965 | €7,648 | -€16,317 | -68.1% |
| Total equity and liabilities | 10/49 | €27,317 | €22,892 | -€4,425 | -16.2% |
| Equity | 10/15 | €22,513 | €22,892 | +€379 | +1.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €2,560 | €2,560 | = | 0.0% |
| Tax-exempt reserves | 132 | €583 | €583 | = | 0.0% |
| Distributable reserves | 133 | €1,977 | €1,977 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,361 | €1,740 | +€379 | +27.8% |
| Amounts payable | 17/49 | €4,804 | - | -€4,804 | |
| Amounts payable within one year | 42/48 | €4,804 | - | -€4,804 | |
| Trade debts | 44 | €702 | - | -€702 | |
| Suppliers | 440/4 | €702 | - | -€702 | |
| Taxes, remuneration and social security | 45 | €19 | - | -€19 | |
| Taxes | 450/3 | €19 | - | -€19 | |
| Other amounts payable | 47/48 | €4,083 | - | -€4,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €826 | €826 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €99 | - | -€99 | |
| Other operating charges | 640/8 | €1,132 | €544 | -€588 | -51.9% |
| Gross operating margin | 9900 | €3,625 | €1,839 | -€1,786 | -49.3% |
| Operating profit (loss) | 9901 | €1,568 | €469 | -€1,099 | -70.1% |
| Financial income | 75/76B | €151 | €2 | -€149 | -98.7% |
| Recurring financial income | 75 | €151 | €2 | -€149 | -98.7% |
| Financial charges | 65/66B | €358 | €111 | -€247 | -69.0% |
| Recurring financial charges | 65 | €358 | €111 | -€247 | -69.0% |
| Profit (loss) for the period before taxes | 9903 | €1,361 | €360 | -€1,001 | -73.5% |
| Income taxes | 67/77 | - | -€19 | -€19 | |
| Profit (loss) for the period | 9904 | €1,361 | €379 | -€982 | -72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,361 | €379 | -€982 | -72.2% |
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 1 November 2026 via checked.be.