CUGER: 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.
CUGER
Largest movements
- Cash +€88,793
up €88,793 (+22.9%), from €388,169 to €476,962
mainly Net result for the year (+€94,715) and Receivables after one year (+€82,335)
- Receivables after one year -€82,335
down €82,335 (-89.9%), from €91,625 to €9,290
- Tangible fixed assets -€31,779
down €31,779 (-20.7%), from €153,620 to €121,841
of which Furniture and vehicles: -€16,112
- Receivables within one year -€14,741
down €14,741 (-33.9%), from €43,496 to €28,755
of which Other amounts receivable: -€16,065
- Other debts -€124,802
down €124,802 (-96.6%), from €129,164 to €4,362
- Reserves +€94,715
up €94,715 (+19.2%), from €494,439 to €589,154
- Debts after one year -€11,287
down €11,287 (-45.3%), from €24,922 to €13,635
- Gross operating margin -€14,237
down €14,237 (-7.8%), from €182,807 to €168,570
- Taxes -€4,620
down €4,620 (-10.2%), from €45,222 to €40,602
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 | €677,245 | €637,743 | -€39,503 | -5.8% |
| Fixed assets | 21/28 | €153,620 | €121,841 | -€31,779 | -20.7% |
| Tangible fixed assets | 22/27 | €153,620 | €121,841 | -€31,779 | -20.7% |
| Plant, machinery and equipment | 23 | €1,079 | €668 | -€411 | -38.1% |
| Furniture and vehicles | 24 | €49,177 | €33,065 | -€16,112 | -32.8% |
| Other tangible fixed assets | 26 | €103,363 | €88,108 | -€15,256 | -14.8% |
| Current assets | 29/58 | €523,626 | €515,902 | -€7,724 | -1.5% |
| Amounts receivable after more than one year | 29 | €91,625 | €9,290 | -€82,335 | -89.9% |
| Other amounts receivable | 291 | €91,625 | €9,290 | -€82,335 | -89.9% |
| Amounts receivable within one year | 40/41 | €43,496 | €28,755 | -€14,741 | -33.9% |
| Trade receivables | 40 | €25,034 | €26,358 | +€1,324 | +5.3% |
| Other amounts receivable | 41 | €18,462 | €2,398 | -€16,065 | -87.0% |
| Cash at bank and in hand | 54/58 | €388,169 | €476,962 | +€88,793 | +22.9% |
| Deferred charges and accrued income | 490/1 | €335 | €895 | +€559 | +167% |
| Total equity and liabilities | 10/49 | €677,245 | €637,743 | -€39,503 | -5.8% |
| Equity | 10/15 | €506,839 | €601,554 | +€94,715 | +18.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €494,439 | €589,154 | +€94,715 | +19.2% |
| Distributable reserves | 133 | €494,439 | €589,154 | +€94,715 | +19.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €170,406 | €36,189 | -€134,217 | -78.8% |
| Amounts payable after more than one year | 17 | €24,922 | €13,635 | -€11,287 | -45.3% |
| Financial debts | 170/4 | €24,922 | €13,635 | -€11,287 | -45.3% |
| Amounts payable within one year | 42/48 | €145,484 | €22,554 | -€122,930 | -84.5% |
| Current portion of amounts payable after more than one year | 42 | €10,930 | €11,287 | +€357 | +3.3% |
| Financial debts | 43 | - | €810 | +€810 | |
| Credit institutions | 430/8 | - | €810 | +€810 | |
| Trade debts | 44 | €656 | €773 | +€117 | +17.9% |
| Suppliers | 440/4 | €656 | €773 | +€117 | +17.9% |
| Taxes, remuneration and social security | 45 | €4,734 | €5,321 | +€587 | +12.4% |
| Taxes | 450/3 | €4,734 | €5,321 | +€587 | +12.4% |
| Other amounts payable | 47/48 | €129,164 | €4,362 | -€124,802 | -96.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,030 | €31,779 | -€251 | -0.8% |
| Other operating charges | 640/8 | €1,274 | €1,559 | +€286 | +22.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €182,807 | €168,570 | -€14,237 | -7.8% |
| Operating profit (loss) | 9901 | €149,503 | €135,231 | -€14,272 | -9.5% |
| Financial income | 75/76B | €2,895 | €1,158 | -€1,738 | -60.0% |
| Recurring financial income | 75 | €2,895 | €1,158 | -€1,738 | -60.0% |
| Financial charges | 65/66B | €1,420 | €1,072 | -€348 | -24.5% |
| Recurring financial charges | 65 | €1,420 | €1,072 | -€348 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €150,979 | €135,317 | -€15,662 | -10.4% |
| Income taxes | 67/77 | €45,222 | €40,602 | -€4,620 | -10.2% |
| Profit (loss) for the period | 9904 | €105,756 | €94,715 | -€11,042 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €105,756 | €94,715 | -€11,042 | -10.4% |
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 18 October 2026 via checked.be.