CUMA DU BAULET: 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.
CUMA DU BAULET
Largest movements
- Tangible fixed assets +€394,983
up €394,983 (+34.4%), from €1.1m to €1.5m
of which Furniture and vehicles: +€236,503
- Receivables within one year +€59,722
up €59,722 (+49.0%), from €121,818 to €181,540
of which Trade receivables: +€85,226
- Cash -€20,107
down €20,107 (-27.6%), from €72,844 to €52,737
mainly Investment in fixed assets (net) (-€607,539) and Receivables within one year (-€59,722)
- Trade debts +€188,795
up €188,795 (+348%), from €54,220 to €243,015
- Debts after one year +€126,287
up €126,287 (+191%), from €66,000 to €192,287
of which Other amounts payable: +€94,287
- Reserves +€46,504
up €46,504 (+2,474%), from €1,880 to €48,384
of which Tax-exempt reserves: +€46,504
- Current portion of long-term debt +€32,333
up €32,333 (+196%), from €16,500 to €48,833
- Other debts -€30,953
down €30,953 (-2.7%), from €1.1m to €1.1m
- Gross operating margin +€248,353
up €248,353 (+117%), from €211,441 to €459,794
- Other operating charges +€103,507
up €103,507 (+6,280%), from €1,648 to €105,155
- Depreciation +€51,272
up €51,272 (+31.8%), from €161,284 to €212,556
- Staff costs +€9,238
up €9,238 (+14.3%), from €64,770 to €74,008
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 | €1,344,171 | €1,778,903 | +€434,731 | +32.3% |
| Fixed assets | 21/28 | €1,148,640 | €1,543,624 | +€394,983 | +34.4% |
| Tangible fixed assets | 22/27 | €1,148,590 | €1,543,574 | +€394,983 | +34.4% |
| Land and buildings | 22 | €284,367 | €282,308 | -€2,060 | -0.7% |
| Plant, machinery and equipment | 23 | €531,618 | €692,158 | +€160,540 | +30.2% |
| Furniture and vehicles | 24 | €330,110 | €566,614 | +€236,503 | +71.6% |
| Assets under construction and advance payments | 27 | €2,495 | €2,495 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €195,531 | €235,279 | +€39,748 | +20.3% |
| Amounts receivable within one year | 40/41 | €121,818 | €181,540 | +€59,722 | +49.0% |
| Trade receivables | 40 | €96,314 | €181,540 | +€85,226 | +88.5% |
| Other amounts receivable | 41 | €25,504 | - | -€25,504 | |
| Cash at bank and in hand | 54/58 | €72,844 | €52,737 | -€20,107 | -27.6% |
| Deferred charges and accrued income | 490/1 | €870 | €1,002 | +€132 | +15.2% |
| Total equity and liabilities | 10/49 | €1,344,171 | €1,778,903 | +€434,731 | +32.3% |
| Equity | 10/15 | €67,687 | €162,106 | +€94,419 | +139% |
| Contributions | 10/11 | €9,549 | €9,549 | = | 0.0% |
| Reserves | 13 | €1,880 | €48,384 | +€46,504 | +2,474% |
| Tax-exempt reserves | 132 | - | €46,504 | +€46,504 | |
| Distributable reserves | 133 | €1,880 | €1,880 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,195 | €30,082 | +€24,887 | +479% |
| Investment grants | 15 | €51,063 | €74,090 | +€23,027 | +45.1% |
| Provisions and deferred taxes | 16 | - | €15,501 | +€15,501 | |
| Deferred taxes | 168 | - | €15,501 | +€15,501 | |
| Amounts payable | 17/49 | €1,276,484 | €1,601,295 | +€324,811 | +25.4% |
| Amounts payable after more than one year | 17 | €66,000 | €192,287 | +€126,287 | +191% |
| Financial debts | 170/4 | €66,000 | €98,000 | +€32,000 | +48.5% |
| Other amounts payable | 178/9 | - | €94,287 | +€94,287 | |
| Amounts payable within one year | 42/48 | €1,210,484 | €1,409,008 | +€198,524 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €16,500 | €48,833 | +€32,333 | +196% |
| Trade debts | 44 | €54,220 | €243,015 | +€188,795 | +348% |
| Suppliers | 440/4 | €54,220 | €243,015 | +€188,795 | +348% |
| Taxes, remuneration and social security | 45 | €13,186 | €21,534 | +€8,348 | +63.3% |
| Taxes | 450/3 | €1,652 | €14,618 | +€12,966 | +785% |
| Remuneration and social security | 454/9 | €11,534 | €6,916 | -€4,618 | -40.0% |
| Other amounts payable | 47/48 | €1,126,578 | €1,095,625 | -€30,953 | -2.7% |
| Remuneration, social security and pensions | 62 | €64,770 | €74,008 | +€9,238 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,284 | €212,556 | +€51,272 | +31.8% |
| Other operating charges | 640/8 | €1,648 | €105,155 | +€103,507 | +6,280% |
| Gross operating margin | 9900 | €211,441 | €459,794 | +€248,353 | +117% |
| Operating profit (loss) | 9901 | -€16,261 | €68,075 | +€84,336 | |
| Financial income | 75/76B | €18,981 | €19,623 | +€642 | +3.4% |
| Recurring financial income | 75 | €18,981 | €19,623 | +€642 | +3.4% |
| Financial charges | 65/66B | €708 | €805 | +€97 | +13.8% |
| Recurring financial charges | 65 | €708 | €805 | +€97 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €2,013 | €86,893 | +€84,880 | +4,217% |
| Transfer from deferred taxes | 780 | - | €2,584 | +€2,584 | |
| Transfer to deferred taxes | 680 | - | €18,085 | +€18,085 | |
| Profit (loss) for the period | 9904 | €2,013 | €71,392 | +€69,379 | +3,447% |
| Transfer from tax-exempt reserves | 789 | - | €7,751 | +€7,751 | |
| Transfer to tax-exempt reserves | 689 | - | €54,255 | +€54,255 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,013 | €24,887 | +€22,875 | +1,137% |
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 28 October 2026 via checked.be.