CUMACO: 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.
CUMACO
Largest movements
- Current investments +€547,505
up €547,505 (+87.8%), from €623,507 to €1.2m
- Cash -€317,028
down €317,028 (-33.2%), from €954,873 to €637,845
mainly Current investments (-€547,505) and Receivables within one year (-€175,608)
- Receivables within one year +€175,608
up €175,608 (+464.4%), from €37,816 to €213,424
- Tangible fixed assets -€114,379
down €114,379 (-9.2%), from €1.2m to €1.1m
of which Land and buildings: -€64,335
- Reserves +€245,596
up €245,596 (+12.2%), from €2.0m to €2.3m
of which Distributable reserves: +€182,446
- Trade debts +€165,527
up €165,527 (+1322.4%), from €12,518 to €178,045
- Debts after one year -€152,869
down €152,869 (-33.4%), from €457,332 to €304,463
- Current portion of long-term debt +€37,538
up €37,538 (+37.2%), from €100,930 to €138,468
- Staff costs +€50,259
up €50,259 (+124.8%), from €40,274 to €90,533
- Depreciation -€49,544
down €49,544 (-47.6%), from €104,007 to €54,463
- Taxes -€34,309
down €34,309 (-17.5%), from €196,375 to €162,065
- Gross operating margin +€16,073
up €16,073 (+1.9%), from €826,156 to €842,229
- Financial income +€13,153
up €13,153 (+63.0%), from €20,893 to €34,046
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 | €2,866,578 | €3,158,226 | +€291,648 | +10.2% |
| Fixed assets | 21/28 | €1,239,299 | €1,124,920 | -€114,379 | -9.2% |
| Tangible fixed assets | 22/27 | €1,239,299 | €1,124,920 | -€114,379 | -9.2% |
| Land and buildings | 22 | €1,120,921 | €1,056,586 | -€64,335 | -5.7% |
| Plant, machinery and equipment | 23 | €264 | €1,048 | +€784 | +296.6% |
| Furniture and vehicles | 24 | €113,065 | €62,238 | -€50,828 | -45.0% |
| Other tangible fixed assets | 26 | €5,049 | €5,049 | = | 0.0% |
| Current assets | 29/58 | €1,627,279 | €2,033,306 | +€406,027 | +25.0% |
| Amounts receivable within one year | 40/41 | €37,816 | €213,424 | +€175,608 | +464.4% |
| Trade receivables | 40 | €37,816 | €213,424 | +€175,608 | +464.4% |
| Current investments | 50/53 | €623,507 | €1,171,012 | +€547,505 | +87.8% |
| Cash at bank and in hand | 54/58 | €954,873 | €637,845 | -€317,028 | -33.2% |
| Deferred charges and accrued income | 490/1 | €11,083 | €11,025 | -€58 | -0.5% |
| Total equity and liabilities | 10/49 | €2,866,578 | €3,158,226 | +€291,648 | +10.2% |
| Equity | 10/15 | €2,011,727 | €2,257,323 | +€245,596 | +12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,005,527 | €2,251,123 | +€245,596 | +12.2% |
| Tax-exempt reserves | 132 | €568,350 | €631,500 | +€63,150 | +11.1% |
| Distributable reserves | 133 | €1,437,177 | €1,619,623 | +€182,446 | +12.7% |
| Amounts payable | 17/49 | €854,850 | €900,903 | +€46,053 | +5.4% |
| Amounts payable after more than one year | 17 | €457,332 | €304,463 | -€152,869 | -33.4% |
| Financial debts | 170/4 | €457,332 | €304,463 | -€152,869 | -33.4% |
| Amounts payable within one year | 42/48 | €396,743 | €593,951 | +€197,208 | +49.7% |
| Current portion of amounts payable after more than one year | 42 | €100,930 | €138,468 | +€37,538 | +37.2% |
| Trade debts | 44 | €12,518 | €178,045 | +€165,527 | +1322.4% |
| Suppliers | 440/4 | €12,518 | €178,045 | +€165,527 | +1322.4% |
| Taxes, remuneration and social security | 45 | €249,440 | €249,403 | -€37 | 0.0% |
| Taxes | 450/3 | €242,228 | €233,392 | -€8,836 | -3.6% |
| Remuneration and social security | 454/9 | €7,211 | €16,011 | +€8,799 | +122.0% |
| Other amounts payable | 47/48 | €33,856 | €28,036 | -€5,820 | -17.2% |
| Accrued charges and deferred income | 492/3 | €775 | €2,488 | +€1,713 | +221.1% |
| Non-recurring operating income | 76A | €11,210 | - | -€11,210 | |
| Remuneration, social security and pensions | 62 | €40,274 | €90,533 | +€50,259 | +124.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,007 | €54,463 | -€49,544 | -47.6% |
| Other operating charges | 640/8 | €2,507 | €3,414 | +€908 | +36.2% |
| Non-recurring operating charges | 66A | €78,845 | €195,809 | +€116,964 | +148.3% |
| Gross operating margin | 9900 | €826,156 | €842,229 | +€16,073 | +1.9% |
| Operating profit (loss) | 9901 | €600,522 | €498,010 | -€102,513 | -17.1% |
| Financial income | 75/76B | €20,893 | €34,046 | +€13,153 | +63.0% |
| Recurring financial income | 75 | €20,893 | €34,046 | +€13,153 | +63.0% |
| Financial charges | 65/66B | €14,673 | €20,125 | +€5,452 | +37.2% |
| Recurring financial charges | 65 | €14,673 | €20,125 | +€5,452 | +37.2% |
| Profit (loss) for the period before taxes | 9903 | €606,742 | €511,930 | -€94,811 | -15.6% |
| Income taxes | 67/77 | €196,375 | €162,065 | -€34,309 | -17.5% |
| Profit (loss) for the period | 9904 | €410,367 | €349,865 | -€60,502 | -14.7% |
| Transfer from tax-exempt reserves | 789 | €178,000 | - | -€178,000 | |
| Transfer to tax-exempt reserves | 689 | €126,300 | €63,150 | -€63,150 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €462,067 | €286,715 | -€175,352 | -37.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.