EXPRESS COURCELLES: what changed
What changed
EXPRESS COURCELLES
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
filed annual accounts (NBB)
Net result for the year
-€171,652
2025 · -€77,829-€93,823
Equity
-€160,421
2025 · €11,231-€171,652
Cash
€40,058
2025 · €27,465+€12,593
Balance sheet total
€320,789
2025 · €361,619-€40,831
Largest movements
Assets
- Stocks and contracts -€34,360
down €34,360 (-33.3%), from €103,177 to €68,817
- Intangible fixed assets -€26,000
down €26,000 (-30.0%), from €86,667 to €60,667
- Cash +€12,593
up €12,593 (+45.9%), from €27,465 to €40,058
mainly Trade debts (+€134,297) and Depreciation (+€36,801)
- Tangible fixed assets -€10,801
down €10,801 (-31.1%), from €34,688 to €23,886
- Receivables within one year +€10,613
up €10,613 (+11.0%), from €96,617 to €107,230
of which Other amounts receivable: +€7,199
Equity and liabilities
- Profit (loss) carried forward -€171,652
down €171,652 (-433%), from -€39,652 to -€211,304
- Trade debts +€134,297
up €134,297 (+48.5%), from €276,986 to €411,283
- Current portion of long-term debt -€25,537
down €25,537 (-62.9%), from €40,589 to €15,052
- Short-term financial debts +€23,705
new in 2026: €23,705
Income statement
- Turnover -€1.8m
no longer reported in 2026 (was €1.8m)
- Purchases and services -€1.7m
no longer reported in 2026 (was €1.7m)
- Gross operating margin -€76,143
down €76,143 (-45.9%), from €165,801 to €89,658
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€77,829
Gross operating margin
-€76,143
Staff costs
-€15,061
Depreciation
-€123
Other operating charges
-€1,291
Other operating items
-€230
Financial income
+€1,328
Financial charges
-€2,304
Result 2026
-€171,652
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€14,426
Investment
€0
Financing
-€1,832
Cash 2025
€27,465
From operations (derived)
+€14,426
Net result for the year
-€171,652
Depreciation
+€36,801
Stocks and contracts
+€34,360
Receivables within one year
-€10,613
Deferred charges and accrued income
-€7,124
Trade debts
+€134,297
Smaller working-capital items
-€202
Accrued charges and deferred income
-€1,441
Financing
-€1,832
Current portion of long-term debt
-€25,537
Short-term financial debts
+€23,705
Contributions, distributions and other
+€0
Cash 2026
€40,058
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €361,619 | €320,789 | -€40,831 | -11.3% |
| Fixed assets | 21/28 | €121,354 | €84,553 | -€36,801 | -30.3% |
| Intangible fixed assets | 21 | €86,667 | €60,667 | -€26,000 | -30.0% |
| Tangible fixed assets | 22/27 | €34,688 | €23,886 | -€10,801 | -31.1% |
| Plant, machinery and equipment | 23 | €34,688 | €23,886 | -€10,801 | -31.1% |
| Current assets | 29/58 | €240,265 | €236,236 | -€4,029 | -1.7% |
| Stocks and contracts in progress | 3 | €103,177 | €68,817 | -€34,360 | -33.3% |
| Stocks | 30/36 | €103,177 | €68,817 | -€34,360 | -33.3% |
| Amounts receivable within one year | 40/41 | €96,617 | €107,230 | +€10,613 | +11.0% |
| Trade receivables | 40 | €27,419 | €30,834 | +€3,414 | +12.5% |
| Other amounts receivable | 41 | €69,198 | €76,397 | +€7,199 | +10.4% |
| Cash at bank and in hand | 54/58 | €27,465 | €40,058 | +€12,593 | +45.9% |
| Deferred charges and accrued income | 490/1 | €13,006 | €20,130 | +€7,124 | +54.8% |
| Total equity and liabilities | 10/49 | €361,619 | €320,789 | -€40,831 | -11.3% |
| Equity | 10/15 | €11,231 | -€160,421 | -€171,652 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Contributions outside capital | 11 | €50,000 | €50,000 | = | 0.0% |
| Other | 1109/19 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €883 | €883 | = | 0.0% |
| Non-distributable reserves | 130/1 | €883 | €883 | = | 0.0% |
| Reserves not available under the articles | 1311 | €883 | €883 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,652 | -€211,304 | -€171,652 | -433% |
| Amounts payable | 17/49 | €350,388 | €481,210 | +€130,821 | +37.3% |
| Amounts payable within one year | 42/48 | €347,662 | €479,924 | +€132,262 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €40,589 | €15,052 | -€25,537 | -62.9% |
| Financial debts | 43 | - | €23,705 | +€23,705 | |
| Credit institutions | 430/8 | - | €23,705 | +€23,705 | |
| Trade debts | 44 | €276,986 | €411,283 | +€134,297 | +48.5% |
| Suppliers | 440/4 | €276,986 | €411,283 | +€134,297 | +48.5% |
| Taxes, remuneration and social security | 45 | €30,002 | €29,883 | -€119 | -0.4% |
| Taxes | 450/3 | - | €7 | +€7 | |
| Remuneration and social security | 454/9 | €30,002 | €29,876 | -€126 | -0.4% |
| Other amounts payable | 47/48 | €84 | €0 | -€84 | -100% |
| Accrued charges and deferred income | 492/3 | €2,727 | €1,286 | -€1,441 | -52.8% |
| Turnover | 70 | €1,796,751 | - | -€1.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,653,742 | - | -€1.7m | |
| Remuneration, social security and pensions | 62 | €182,300 | €197,361 | +€15,061 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,679 | €36,801 | +€123 | +0.3% |
| Other operating charges | 640/8 | €9,459 | €10,750 | +€1,291 | +13.6% |
| Non-recurring operating charges | 66A | - | €230 | +€230 | |
| Gross operating margin | 9900 | €165,801 | €89,658 | -€76,143 | -45.9% |
| Operating profit (loss) | 9901 | -€62,636 | -€155,484 | -€92,847 | -148% |
| Financial income | 75/76B | €679 | €2,008 | +€1,328 | +196% |
| Recurring financial income | 75 | €679 | €2,008 | +€1,328 | +196% |
| Financial charges | 65/66B | €15,872 | €18,176 | +€2,304 | +14.5% |
| Recurring financial charges | 65 | €15,872 | €18,176 | +€2,304 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€77,829 | -€171,652 | -€93,823 | -121% |
| Profit (loss) for the period | 9904 | -€77,829 | -€171,652 | -€93,823 | -121% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,829 | -€171,652 | -€93,823 | -121% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.