CUQUIMMO
Annual accounts 2025
micro format, filed on 29-06-2026, 32 days before the deadlineGross margin
-€13,753
▼ €3,217
Operating result
-€52,568
▼ €6,652
Loss
-€64,209
▼ €5,305
Working capital
-€694,382
▼ €63,554
Solvency
-14.4%
▼ 8.5 percentage points
Current ratio
0.01
▼ 0.12
Turnover: not included in this filing.
Balance sheet
balance sheet total €834,736 on 31-12-2025What the company ownsHow it is paid for
Change in equityin euro
Change in cashin euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||
Total assets20/58 |
834,736 | 956,647 | 650,693 | 673,909 | 709,556 | 723,949 | 746,731 | 769,813 | 799,224 | 823,320 | 848,790 | 877,983 | 884,001 | 590,241 | |
Fixed assets21/28 |
830,789 | 864,930 | 649,767 | 663,347 | 690,622 | 707,422 | 735,861 | 764,300 | 792,739 | 820,016 | 848,338 | 876,661 | 718,916 | 589,017 | |
Tangible fixed assets22/27 |
830,789 | 864,930 | 649,767 | 663,347 | 690,622 | 707,422 | 735,861 | 764,300 | 792,739 | 820,016 | 848,338 | 876,661 | 718,916 | 589,017 | |
Land and buildings22 |
830,789 | 864,930 | 649,767 | 663,347 | 690,622 | 707,422 | 735,861 | 764,300 | 792,739 | 820,016 | 848,338 | 876,661 | 718,916 | 589,017 | |
Current assets29/58 |
3,947 | 91,717 | 926 | 10,561 | 18,934 | 16,527 | 10,869 | 5,513 | 6,485 | 3,304 | 452 | 1,323 | 165,085 | 1,223 | |
Amounts receivable within one year40/41 |
- | 183 | 183 | 183 | 13,548 | 13,978 | 7,978 | 1,030 | 674 | - | - | 344 | 252 | - | |
Other amounts receivable41 |
- | 183 | 183 | 183 | 13,548 | 13,978 | 7,978 | 1,030 | 674 | - | - | 344 | 252 | - | |
Cash at bank and in hand54/58 |
3,313 | 90,765 | 595 | 9,831 | 4,897 | 2,083 | 2,446 | 4,053 | 5,395 | 3,304 | 452 | 978 | 163,692 | 1,223 | |
Deferred charges and accrued income490/1 |
634 | 769 | 148 | 548 | 489 | 466 | 445 | 430 | 416 | - | - | - | 1,141 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||
Total equity and liabilities10/49 |
834,736 | 956,647 | 650,693 | 673,909 | 709,556 | 723,949 | 746,731 | 769,813 | 799,224 | 823,320 | 848,790 | 877,983 | 884,001 | 590,241 | |
Equity10/15 |
-120,014 | -55,805 | 3,099 | 54,992 | 104,426 | 88,908 | 84,815 | 81,935 | 82,984 | 83,498 | 85,512 | 93,350 | 98,086 | 114,944 | |
Contributions10/11 |
125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | |
Issued capital100 |
- | - | - | - | - | - | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | 125,000 | |
Profit (loss) carried forward14 |
-245,014 | -180,805 | -121,901 | -70,008 | -20,574 | -36,092 | -40,185 | -43,065 | -42,016 | -41,502 | -39,488 | -31,650 | -26,914 | -10,056 | |
Provisions and deferred taxes16 |
- | - | - | - | - | - | - | - | - | 1,000 | 1,356 | 1,554 | 1,774 | 3,273 | |
Provisions for liabilities and charges160/5 |
- | - | - | - | - | - | - | - | - | 1,000 | 1,356 | 1,554 | 1,774 | 3,273 | |
Other liabilities and charges164/5 |
- | - | - | - | - | - | - | - | - | 1,000 | - | - | - | - | |
Amounts payable17/49 |
954,750 | 1.0m | 647,594 | 618,917 | 605,130 | 635,041 | 661,915 | 687,878 | 716,240 | 738,822 | 761,923 | 783,079 | 784,141 | 472,024 | |
Amounts payable after more than one year17 |
256,421 | 289,907 | 322,162 | 353,232 | 349,346 | 378,341 | 406,271 | 433,174 | 459,089 | 483,992 | 508,050 | 531,223 | 553,545 | 256,410 | |
Financial debts170/4 |
256,421 | 289,907 | 322,162 | 353,232 | 349,346 | 378,341 | 406,271 | 433,174 | 459,089 | 483,992 | 508,050 | 531,223 | 553,545 | 256,410 | |
Amounts payable within one year42/48 |
698,329 | 722,545 | 325,425 | 265,685 | 255,784 | 252,351 | 251,324 | 250,585 | 250,109 | 254,829 | 253,873 | 251,857 | 230,597 | 215,614 | |
Current portion of amounts payable after more than one year42 |
36,120 | 34,889 | 33,607 | 27,477 | 31,363 | 27,930 | 26,903 | 25,915 | 24,962 | 24,057 | 23,173 | 22,322 | 21,502 | 9,614 | |
Trade debts44 |
13,418 | 63,235 | 7,397 | - | - | - | - | - | 832 | - | - | 1,785 | 1,845 | - | |
Suppliers440/4 |
13,418 | 63,235 | 7,397 | - | - | - | - | - | 832 | - | - | 1,785 | 1,845 | - | |
Other amounts payable47/48 |
648,791 | 624,421 | 284,421 | 238,208 | 224,421 | 224,421 | 224,421 | 224,671 | 224,315 | 230,772 | 230,700 | 227,750 | 207,250 | 206,000 | |
Accrued charges and deferred income492/3 |
- | - | 7 | - | - | 4,349 | 4,320 | 4,118 | 7,042 | - | - | - | - | - | |
| Income statement | |||||||||||||||
Non-recurring operating income76A |
- | - | - | - | 10,475 | - | - | - | - | - | - | - | - | - | |
Gross operating margin9900 |
-13,753 | -10,536 | -8,260 | -5,611 | 60,568 | 50,800 | 50,490 | 47,562 | 47,985 | 47,814 | 42,957 | 45,876 | 26,027 | 26,152 | |
Goods, raw materials, services and sundry goods60/61 |
- | 10,536 | 8,260 | - | - | - | - | - | - | - | - | - | - | - | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
37,139 | 33,319 | 28,016 | 27,275 | 27,275 | 28,439 | 28,439 | 28,439 | 28,439 | 28,323 | 28,323 | 28,323 | 22,741 | 24,328 | |
Provisions for liabilities and charges: additions (uses and reversals)635/8 |
- | - | - | - | - | - | - | - | -1,000 | -356 | -198 | -220 | -1,499 | 3,273 | |
Other operating charges640/8 |
1,676 | 2,061 | 2,694 | 1,772 | 2,491 | 2,249 | 2,229 | 2,201 | 2,174 | 2,149 | 2,141 | 1,617 | 1,602 | 348 | |
Non-recurring operating charges66A |
- | - | - | - | 248 | - | - | - | - | - | - | - | - | - | |
Operating profit (loss)9901 |
-52,568 | -45,916 | -38,970 | -34,657 | 30,554 | 20,113 | 19,823 | 16,922 | 18,372 | 17,699 | 12,691 | 16,157 | 3,183 | -1,796 | |
Financial income75/76B |
- | - | 3 | 0 | - | - | 2 | 2 | 1 | 2 | 1 | 369 | 1,061 | 43 | |
Recurring financial income75 |
- | - | 3 | 0 | - | - | 2 | 2 | 1 | 2 | 1 | 369 | 1,061 | 43 | |
Financial charges65/66B |
11,641 | 12,988 | 12,925 | 14,777 | 15,036 | 16,020 | 16,944 | 17,972 | 18,888 | 19,714 | 20,530 | 21,270 | 21,102 | 8,293 | |
Recurring financial charges65 |
11,641 | 12,988 | 12,925 | 14,777 | 15,036 | 16,020 | 16,944 | 17,972 | 18,888 | 19,714 | 20,530 | 21,270 | 21,102 | 8,293 | |
Profit (loss) for the period before taxes9903 |
-64,209 | -58,904 | -51,892 | -49,434 | 15,518 | 4,093 | 2,881 | -1,048 | -514 | -2,013 | -7,838 | -4,744 | -16,858 | -10,047 | |
Income taxes67/77 |
- | - | 1 | - | - | - | 1 | 1 | 0 | 0 | 0 | -9 | - | 9 | |
Profit (loss) for the period9904 |
-64,209 | -58,904 | -51,893 | -49,434 | 15,518 | 4,093 | 2,880 | -1,049 | -515 | -2,014 | -7,839 | -4,735 | -16,858 | -10,056 | |
Profit (loss) for the period to be appropriated9905 |
-64,209 | -58,904 | -51,893 | -49,434 | 15,518 | 4,093 | 2,880 | -1,049 | -515 | -2,014 | -7,839 | -4,735 | -16,858 | -10,056 | |
| Appropriation of the result | |||||||||||||||
Profit (loss) to be appropriated9906 |
-245,014 | -180,805 | -121,901 | -70,008 | -20,574 | -36,092 | -40,185 | -43,065 | -42,016 | -41,502 | -39,488 | -31,650 | -26,914 | -10,056 | |
Profit (loss) brought forward from the previous period14P |
-180,805 | -121,901 | -70,008 | -20,574 | -36,092 | - | - | - | - | - | - | - | - | - | |
| Document | |||||||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00216078 | |
| 31-12-2024 | micro format | 22-03-2025 | 2025-00052178 | |
| 31-12-2023 | micro format | 25-02-2024 | 2024-00035234 | |
| 31-12-2022 | full format | 17-04-2023 | 2023-00062377 | |
| 31-12-2021 | full format | 30-08-2022 | 2022-20343407 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-61300102 | |
| 31-12-2019 | micro format | 07-11-2020 | 2020-69400317 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-50600006 | |
| 31-12-2017 | micro format | 24-09-2018 | 2018-64000460 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-53200009 | |
| 31-12-2015 | full format | 30-08-2016 | 2016-52400328 | |
| 31-12-2014 | full format | 20-08-2015 | 2015-46600477 | |
| 31-12-2013 | full format | 18-09-2014 | 2014-59300333 | |
| 31-12-2012 | full format | 25-09-2013 | 2013-59700179 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -15,429 | -12,597 | -10,954 | -7,383 | 57,829 | 48,552 | 48,261 | 45,361 | 46,811 | 46,021 | 41,013 | 44,479 | 25,923 | 22,531 | |
| Cash flow | -27,070 | -25,585 | -23,877 | -22,160 | 42,793 | 32,532 | 31,319 | 27,390 | 27,924 | 26,309 | 20,484 | 23,587 | 5,882 | 14,272 | |
| Investment in fixed assets (approximation) | 2,997 | 248,482 | 14,436 | 0 | 10,475 | 0 | 0 | 0 | 1,162 | 0 | 0 | 186,068 | 212,639 | 613,345 | |
| Change in cash | -87,452 | 90,170 | -9,236 | 4,934 | 2,814 | -363 | -1,606 | -1,342 | 2,091 | 2,852 | -527 | -162,714 | 162,469 | - | |
| Working capital | -694,382 | -630,828 | -324,499 | -255,124 | -236,850 | -235,824 | -240,455 | -245,072 | -243,624 | -251,525 | -253,421 | -250,534 | -65,512 | -214,391 | |
| Solvency | -14.4% | -5.8% | 0.5% | 8.2% | 14.7% | 12.3% | 11.4% | 10.6% | 10.4% | 10.1% | 10.1% | 10.6% | 11.1% | 19.5% | |
| Current ratio | 0.01 | 0.13 | 0.00 | 0.04 | 0.07 | 0.07 | 0.04 | 0.02 | 0.03 | 0.01 | 0.00 | 0.01 | 0.72 | 0.01 | |
| Debt to equity | - | - | - | 11.25 | 5.79 | 7.14 | 7.80 | 8.40 | 8.63 | 8.85 | 8.91 | 8.39 | 7.99 | 4.11 | |
| ROE | - | - | - | -89.9% | 14.9% | 4.6% | 3.4% | -1.3% | -0.6% | -2.4% | -9.2% | -5.1% | -17.2% | -8.7% | |
| ROA | -7.7% | -6.2% | -8.0% | -7.3% | 2.2% | 0.6% | 0.4% | -0.1% | -0.1% | -0.2% | -0.9% | -0.5% | -1.9% | -1.7% | |
| Interest coverage | -1.33 | -0.97 | -0.85 | -0.50 | 3.85 | - | - | - | - | - | - | - | - | - | |
| Supplier credit | - | 2191 days | 327 days | - | - | - | - | - | - | - | - | - | - | - |
EBIT margin: not included in this filing.
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,997 | €248,482 | €14,436 | - | - |
| Depreciation and write-downs of the year | €37,139 | €33,319 | €28,016 | €27,275 | €27,275 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on CUQUIMMO
The operating result for 2025 is a loss of €52,568, larger than the loss of €45,916 in 2024. It is the lowest result since 2012.
Equity is negative. Debt (€954,750) exceeds the balance-sheet total (€834,736).