CU BRANDS: 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.
CU BRANDS
Largest movements
- Current investments -€119,972
down €119,972 (-74.9%), from €160,171 to €40,199
- Stocks and contracts +€81,962
up €81,962 (+163%), from €50,426 to €132,388
- Receivables within one year -€27,724
down €27,724 (-20.8%), from €133,562 to €105,838
of which Trade receivables: -€19,115
- Tangible fixed assets -€6,620
down €6,620 (-37.3%), from €17,749 to €11,130
- Profit (loss) carried forward -€213,226
down €213,226 (-37.9%), from -€562,104 to -€775,330
- Trade debts +€165,432
up €165,432 (+324%), from €51,042 to €216,474
- Debts after one year -€51,503
down €51,503 (-23.2%), from €222,008 to €170,505
- Current portion of long-term debt +€32,661
up €32,661 (+173%), from €18,842 to €51,503
- Accrued charges and deferred income -€13,532
down €13,532 (-100%), from €13,532 to €0
- Financial income -€79,879
down €79,879 (-98.0%), from €81,499 to €1,620
of which Non-recurring financial income: -€77,500
- Gross operating margin +€45,980
up €45,980 (+29.6%), from -€155,443 to -€109,463
- Staff costs +€16,674
up €16,674 (+24.4%), from €68,331 to €85,005
- Financial charges +€4,883
up €4,883 (+64.8%), from €7,538 to €12,420
- Other operating charges -€2,780
down €2,780 (-82.3%), from €3,377 to €597
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 | €407,928 | €337,520 | -€70,408 | -17.3% |
| Fixed assets | 21/28 | €19,549 | €12,480 | -€7,070 | -36.2% |
| Intangible fixed assets | 21 | €1,800 | €1,350 | -€450 | -25.0% |
| Tangible fixed assets | 22/27 | €17,749 | €11,130 | -€6,620 | -37.3% |
| Furniture and vehicles | 24 | €17,749 | €11,130 | -€6,620 | -37.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €388,379 | €325,040 | -€63,339 | -16.3% |
| Stocks and contracts in progress | 3 | €50,426 | €132,388 | +€81,962 | +163% |
| Stocks | 30/36 | €50,426 | €132,388 | +€81,962 | +163% |
| Amounts receivable within one year | 40/41 | €133,562 | €105,838 | -€27,724 | -20.8% |
| Trade receivables | 40 | €97,956 | €78,841 | -€19,115 | -19.5% |
| Other amounts receivable | 41 | €35,606 | €26,996 | -€8,610 | -24.2% |
| Current investments | 50/53 | €160,171 | €40,199 | -€119,972 | -74.9% |
| Cash at bank and in hand | 54/58 | €39,659 | €42,062 | +€2,403 | +6.1% |
| Deferred charges and accrued income | 490/1 | €4,561 | €4,553 | -€7 | -0.2% |
| Total equity and liabilities | 10/49 | €407,928 | €337,520 | -€70,408 | -17.3% |
| Equity | 10/15 | €95,895 | -€117,331 | -€213,226 | |
| Contributions | 10/11 | €657,998 | €657,998 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€562,104 | -€775,330 | -€213,226 | -37.9% |
| Amounts payable | 17/49 | €312,033 | €454,851 | +€142,818 | +45.8% |
| Amounts payable after more than one year | 17 | €222,008 | €170,505 | -€51,503 | -23.2% |
| Financial debts | 170/4 | €222,008 | €170,505 | -€51,503 | -23.2% |
| Amounts payable within one year | 42/48 | €76,494 | €284,346 | +€207,853 | +272% |
| Current portion of amounts payable after more than one year | 42 | €18,842 | €51,503 | +€32,661 | +173% |
| Trade debts | 44 | €51,042 | €216,474 | +€165,432 | +324% |
| Suppliers | 440/4 | €51,042 | €216,474 | +€165,432 | +324% |
| Taxes, remuneration and social security | 45 | €5,689 | €16,204 | +€10,515 | +185% |
| Remuneration and social security | 454/9 | €5,689 | €16,204 | +€10,515 | +185% |
| Other amounts payable | 47/48 | €921 | €165 | -€756 | -82.1% |
| Accrued charges and deferred income | 492/3 | €13,532 | €0 | -€13,532 | -100% |
| Remuneration, social security and pensions | 62 | €68,331 | €85,005 | +€16,674 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,167 | €7,070 | +€902 | +14.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,068 | €0 | -€1,068 | -100% |
| Other operating charges | 640/8 | €3,377 | €597 | -€2,780 | -82.3% |
| Gross operating margin | 9900 | -€155,443 | -€109,463 | +€45,980 | +29.6% |
| Operating profit (loss) | 9901 | -€234,386 | -€202,135 | +€32,251 | +13.8% |
| Financial income | 75/76B | €81,499 | €1,620 | -€79,879 | -98.0% |
| Recurring financial income | 75 | €3,999 | €1,620 | -€2,379 | -59.5% |
| Non-recurring financial income | 76B | €77,500 | €0 | -€77,500 | -100% |
| Financial charges | 65/66B | €7,538 | €12,420 | +€4,883 | +64.8% |
| Recurring financial charges | 65 | €7,538 | €12,420 | +€4,883 | +64.8% |
| Profit (loss) for the period before taxes | 9903 | -€160,425 | -€212,935 | -€52,510 | -32.7% |
| Income taxes | 67/77 | €74 | €292 | +€218 | +296% |
| Profit (loss) for the period | 9904 | -€160,498 | -€213,226 | -€52,728 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€160,498 | -€213,226 | -€52,728 | -32.9% |
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 30 October 2026 via checked.be.