KURACILO: 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.
KURACILO
Largest movements
- Stocks and contracts +€64,251
up €64,251 (+101%), from €63,628 to €127,879
- Receivables within one year +€17,997
up €17,997 (+602%), from €2,991 to €20,988
of which Trade receivables: +€14,357
- Reserves +€48,018
up €48,018 (+8.7%), from €548,850 to €596,868
of which Distributable reserves: +€48,018
- Debts after one year -€32,072
down €32,072 (-12.7%), from €253,113 to €221,042
- Other debts +€31,453
up €31,453 (+54.5%), from €57,765 to €89,218
- Current portion of long-term debt +€25,431
up €25,431 (+40.8%), from €62,323 to €87,754
- Tax, wage and social debts -€18,281
down €18,281 (-78.6%), from €23,263 to €4,982
- Gross operating margin -€22,602
down €22,602 (-21.0%), from €107,869 to €85,266
- Taxes -€4,947
down €4,947 (-27.6%), from €17,910 to €12,963
- Financial charges +€1,435
up €1,435 (+12.5%), from €11,513 to €12,948
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 | €1,251,963 | €1,323,401 | +€71,437 | +5.7% |
| Fixed assets | 21/28 | €1,159,788 | €1,150,695 | -€9,093 | -0.8% |
| Tangible fixed assets | 22/27 | €59,698 | €50,605 | -€9,093 | -15.2% |
| Land and buildings | 22 | €30,583 | €28,814 | -€1,769 | -5.8% |
| Furniture and vehicles | 24 | €19,136 | €14,326 | -€4,810 | -25.1% |
| Other tangible fixed assets | 26 | €9,979 | €7,465 | -€2,514 | -25.2% |
| Financial fixed assets | 28 | €1,100,090 | €1,100,090 | = | 0.0% |
| Current assets | 29/58 | €92,175 | €172,705 | +€80,531 | +87.4% |
| Stocks and contracts in progress | 3 | €63,628 | €127,879 | +€64,251 | +101% |
| Stocks | 30/36 | €63,628 | €127,879 | +€64,251 | +101% |
| Amounts receivable within one year | 40/41 | €2,991 | €20,988 | +€17,997 | +602% |
| Trade receivables | 40 | €2,991 | €17,348 | +€14,357 | +480% |
| Other amounts receivable | 41 | - | €3,640 | +€3,640 | |
| Cash at bank and in hand | 54/58 | €24,600 | €22,937 | -€1,663 | -6.8% |
| Deferred charges and accrued income | 490/1 | €956 | €902 | -€54 | -5.7% |
| Total equity and liabilities | 10/49 | €1,251,963 | €1,323,401 | +€71,437 | +5.7% |
| Equity | 10/15 | €848,850 | €896,868 | +€48,018 | +5.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €548,850 | €596,868 | +€48,018 | +8.7% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €518,850 | €566,868 | +€48,018 | +9.3% |
| Amounts payable | 17/49 | €403,113 | €426,532 | +€23,419 | +5.8% |
| Amounts payable after more than one year | 17 | €253,113 | €221,042 | -€32,072 | -12.7% |
| Financial debts | 170/4 | €253,113 | €221,042 | -€32,072 | -12.7% |
| Amounts payable within one year | 42/48 | €144,837 | €200,328 | +€55,491 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €62,323 | €87,754 | +€25,431 | +40.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,486 | €18,373 | +€16,887 | +1,137% |
| Suppliers | 440/4 | €1,486 | €18,373 | +€16,887 | +1,137% |
| Taxes, remuneration and social security | 45 | €23,263 | €4,982 | -€18,281 | -78.6% |
| Taxes | 450/3 | €23,263 | €4,982 | -€18,281 | -78.6% |
| Other amounts payable | 47/48 | €57,765 | €89,218 | +€31,453 | +54.5% |
| Accrued charges and deferred income | 492/3 | €5,163 | €5,163 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €5 | €0 | -€5 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,244 | €9,093 | +€850 | +10.3% |
| Other operating charges | 640/8 | €1,945 | €2,244 | +€299 | +15.4% |
| Gross operating margin | 9900 | €107,869 | €85,266 | -€22,602 | -21.0% |
| Operating profit (loss) | 9901 | €97,675 | €73,929 | -€23,746 | -24.3% |
| Financial income | 75/76B | €32 | €1 | -€31 | -97.2% |
| Recurring financial income | 75 | €32 | €1 | -€31 | -97.2% |
| Financial charges | 65/66B | €11,513 | €12,948 | +€1,435 | +12.5% |
| Recurring financial charges | 65 | €11,513 | €12,948 | +€1,435 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €86,194 | €60,982 | -€25,212 | -29.3% |
| Income taxes | 67/77 | €17,910 | €12,963 | -€4,947 | -27.6% |
| Profit (loss) for the period | 9904 | €68,284 | €48,018 | -€20,266 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €68,284 | €48,018 | -€20,266 | -29.7% |
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 22 October 2026 via checked.be.