LA COUARDE: what changed
Two fiscal 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.
LA COUARDE
Largest movements
- Receivables within one year -€104,000
no longer reported in 2025 (was €104,000)
- Cash +€101,449
up €101,449 (+451.2%), from €22,483 to €123,933
mainly Receivables within one year (+€104,000) and Accrued charges and deferred income (+€400)
- Profit (loss) carried forward -€3,166
down €3,166 (-66.5%), from -€4,762 to -€7,928
- Gross operating margin +€2,387
up €2,387 (+55.1%), from -€4,336 to -€1,948
- Other operating charges +€927
new in 2025: €927
- Depreciation -€108
down €108 (-33.3%), from €324 to €216
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.
Cash bridge derived
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 | €187,239 | €184,472 | -€2,766 | -1.5% |
| Formation expenses | 20 | €755 | €540 | -€216 | -28.6% |
| Fixed assets | 21/28 | €60,000 | €60,000 | = | 0.0% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €126,483 | €123,933 | -€2,551 | -2.0% |
| Amounts receivable within one year | 40/41 | €104,000 | - | -€104,000 | |
| Other amounts receivable | 41 | €104,000 | - | -€104,000 | |
| Cash at bank and in hand | 54/58 | €22,483 | €123,933 | +€101,449 | +451.2% |
| Total equity and liabilities | 10/49 | €187,239 | €184,472 | -€2,766 | -1.5% |
| Equity | 10/15 | €23,239 | €20,072 | -€3,166 | -13.6% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,762 | -€7,928 | -€3,166 | -66.5% |
| Amounts payable | 17/49 | €164,000 | €164,400 | +€400 | +0.2% |
| Amounts payable within one year | 42/48 | €164,000 | €164,000 | = | 0.0% |
| Other amounts payable | 47/48 | €164,000 | €164,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €324 | €216 | -€108 | -33.3% |
| Other operating charges | 640/8 | - | €927 | +€927 | |
| Gross operating margin | 9900 | -€4,336 | -€1,948 | +€2,387 | +55.1% |
| Operating profit (loss) | 9901 | -€4,659 | -€3,091 | +€1,568 | +33.7% |
| Financial charges | 65/66B | €102 | €75 | -€27 | -26.7% |
| Recurring financial charges | 65 | €102 | €75 | -€27 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,762 | -€3,166 | +€1,595 | +33.5% |
| Profit (loss) for the period | 9904 | -€4,762 | -€3,166 | +€1,595 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,762 | -€3,166 | +€1,595 | +33.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.