CUEMASTER: 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.
CUEMASTER
Largest movements
- Tangible fixed assets -€26,242
down €26,242 (-13.3%), from €196,871 to €170,629
- Cash -€25,147
down €25,147 (-53.8%), from €46,782 to €21,634
mainly Receivables within one year (-€23,325) and Debts after one year (-€22,666)
- Receivables within one year +€23,325
up €23,325 (+55.0%), from €42,424 to €65,749
of which Other amounts receivable: +€13,398
- Debts after one year -€22,666
down €22,666 (-92.7%), from €24,464 to €1,798
- Other debts +€22,223
new in 2025: €22,223
- Reserves -€13,700
down €13,700 (-8.6%), from €158,667 to €144,967
of which Distributable reserves: -€13,700
- Current portion of long-term debt -€7,688
down €7,688 (-21.5%), from €35,708 to €28,020
- Trade debts -€4,002
down €4,002 (-15.4%), from €26,042 to €22,041
- Gross operating margin -€76,963
down €76,963 (-62.6%), from €122,928 to €45,966
- Taxes +€5,830
up €5,830 (+135.8%), from €4,293 to €10,123
- Depreciation -€3,004
down €3,004 (-9.4%), from €31,968 to €28,964
- Other operating charges -€2,885
down €2,885 (-43.5%), from €6,627 to €3,742
- Financial income +€2,100
up €2,100 (+636415.2%), from €0 to €2,101
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 | €322,150 | €298,829 | -€23,321 | -7.2% |
| Fixed assets | 21/28 | €196,871 | €170,629 | -€26,242 | -13.3% |
| Tangible fixed assets | 22/27 | €196,871 | €170,629 | -€26,242 | -13.3% |
| Land and buildings | 22 | €95,604 | €82,633 | -€12,971 | -13.6% |
| Plant, machinery and equipment | 23 | €92,939 | €81,143 | -€11,796 | -12.7% |
| Furniture and vehicles | 24 | €7,128 | €5,653 | -€1,475 | -20.7% |
| Other tangible fixed assets | 26 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €125,279 | €128,200 | +€2,920 | +2.3% |
| Amounts receivable after more than one year | 29 | €33,425 | €35,925 | +€2,500 | +7.5% |
| Trade receivables | 290 | €33,425 | €35,925 | +€2,500 | +7.5% |
| Amounts receivable within one year | 40/41 | €42,424 | €65,749 | +€23,325 | +55.0% |
| Trade receivables | 40 | €36,295 | €46,221 | +€9,926 | +27.3% |
| Other amounts receivable | 41 | €6,129 | €19,527 | +€13,398 | +218.6% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,782 | €21,634 | -€25,147 | -53.8% |
| Deferred charges and accrued income | 490/1 | €1,649 | €3,892 | +€2,243 | +136.1% |
| Total equity and liabilities | 10/49 | €322,150 | €298,829 | -€23,321 | -7.2% |
| Equity | 10/15 | €231,082 | €218,448 | -€12,634 | -5.5% |
| Contributions | 10/11 | €14,200 | €14,200 | = | 0.0% |
| Reserves | 13 | €158,667 | €144,967 | -€13,700 | -8.6% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,182 | €16,182 | = | 0.0% |
| Distributable reserves | 133 | €140,610 | €126,910 | -€13,700 | -9.7% |
| Profit (loss) carried forward | 14 | €58,215 | €59,281 | +€1,066 | +1.8% |
| Amounts payable | 17/49 | €91,068 | €80,380 | -€10,687 | -11.7% |
| Amounts payable after more than one year | 17 | €24,464 | €1,798 | -€22,666 | -92.7% |
| Financial debts | 170/4 | €24,464 | €1,798 | -€22,666 | -92.7% |
| Amounts payable within one year | 42/48 | €66,604 | €76,388 | +€9,784 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €35,708 | €28,020 | -€7,688 | -21.5% |
| Trade debts | 44 | €26,042 | €22,041 | -€4,002 | -15.4% |
| Suppliers | 440/4 | €26,042 | €22,041 | -€4,002 | -15.4% |
| Taxes, remuneration and social security | 45 | €4,854 | €4,104 | -€749 | -15.4% |
| Taxes | 450/3 | €4,854 | €4,104 | -€749 | -15.4% |
| Other amounts payable | 47/48 | - | €22,223 | +€22,223 | |
| Accrued charges and deferred income | 492/3 | - | €2,195 | +€2,195 | |
| Remuneration, social security and pensions | 62 | - | €114 | +€114 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,968 | €28,964 | -€3,004 | -9.4% |
| Other operating charges | 640/8 | €6,627 | €3,742 | -€2,885 | -43.5% |
| Gross operating margin | 9900 | €122,928 | €45,966 | -€76,963 | -62.6% |
| Operating profit (loss) | 9901 | €84,334 | €13,146 | -€71,188 | -84.4% |
| Financial income | 75/76B | €0 | €2,101 | +€2,100 | +636415.2% |
| Recurring financial income | 75 | €0 | €2,101 | +€2,100 | +636415.2% |
| Financial charges | 65/66B | €5,675 | €4,057 | -€1,619 | -28.5% |
| Recurring financial charges | 65 | €5,675 | €4,057 | -€1,619 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €78,658 | €11,189 | -€67,469 | -85.8% |
| Income taxes | 67/77 | €4,293 | €10,123 | +€5,830 | +135.8% |
| Profit (loss) for the period | 9904 | €74,365 | €1,066 | -€73,299 | -98.6% |
| Profit (loss) for the period to be appropriated | 9905 | €74,365 | €1,066 | -€73,299 | -98.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.