CUPINA: 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.
CUPINA
Largest movements
- Tangible fixed assets +€429,301
up €429,301 (+1,054%), from €40,721 to €470,022
of which Land and buildings: +€436,768
- Receivables within one year -€81,519
down €81,519 (-36.3%), from €224,321 to €142,802
of which Other amounts receivable: -€75,729
- Cash -€10,911
down €10,911 (-15.3%), from €71,187 to €60,276
mainly Investment in fixed assets (net) (-€474,467) and Contributions, distributions and other (-€24,000)
- Debts after one year +€324,794
new in 2025: €324,794
- Other debts +€22,455
up €22,455 (+93.6%), from €24,000 to €46,455
- Current portion of long-term debt +€19,462
new in 2025: €19,462
- Tax, wage and social debts -€18,735
down €18,735 (-59.5%), from €31,509 to €12,774
of which Taxes: -€16,884
- Accrued charges and deferred income -€13,500
no longer reported in 2025 (was €13,500)
- Depreciation +€28,937
up €28,937 (+178%), from €16,229 to €45,166
- Taxes -€11,348
down €11,348 (-71.9%), from €15,787 to €4,439
- Financial charges +€9,930
up €9,930 (+5,426%), from €183 to €10,113
of which Financial charges: +€9,030
- Staff costs +€6,308
up €6,308 (+12.5%), from €50,567 to €56,875
- Gross operating margin +€5,829
up €5,829 (+3.8%), from €154,522 to €160,351
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 | €374,660 | €713,068 | +€338,408 | +90.3% |
| Fixed assets | 21/28 | €40,721 | €470,022 | +€429,301 | +1,054% |
| Tangible fixed assets | 22/27 | €40,721 | €470,022 | +€429,301 | +1,054% |
| Land and buildings | 22 | - | €436,768 | +€436,768 | |
| Plant, machinery and equipment | 23 | €34,466 | €30,536 | -€3,930 | -11.4% |
| Furniture and vehicles | 24 | €6,255 | €2,718 | -€3,537 | -56.5% |
| Current assets | 29/58 | €333,939 | €243,046 | -€90,893 | -27.2% |
| Stocks and contracts in progress | 3 | €38,431 | €33,456 | -€4,975 | -12.9% |
| Stocks | 30/36 | €38,431 | €33,456 | -€4,975 | -12.9% |
| Amounts receivable within one year | 40/41 | €224,321 | €142,802 | -€81,519 | -36.3% |
| Trade receivables | 40 | €34,410 | €28,620 | -€5,790 | -16.8% |
| Other amounts receivable | 41 | €189,911 | €114,182 | -€75,729 | -39.9% |
| Cash at bank and in hand | 54/58 | €71,187 | €60,276 | -€10,911 | -15.3% |
| Deferred charges and accrued income | 490/1 | - | €6,512 | +€6,512 | |
| Total equity and liabilities | 10/49 | €374,660 | €713,068 | +€338,408 | +90.3% |
| Equity | 10/15 | €291,191 | €304,218 | +€13,027 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €270,731 | €283,758 | +€13,027 | +4.8% |
| Amounts payable | 17/49 | €83,469 | €408,850 | +€325,381 | +390% |
| Amounts payable after more than one year | 17 | - | €324,794 | +€324,794 | |
| Financial debts | 170/4 | - | €324,794 | +€324,794 | |
| Amounts payable within one year | 42/48 | €69,969 | €84,056 | +€14,087 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | - | €19,462 | +€19,462 | |
| Trade debts | 44 | €14,460 | €5,365 | -€9,095 | -62.9% |
| Suppliers | 440/4 | €14,460 | €5,365 | -€9,095 | -62.9% |
| Taxes, remuneration and social security | 45 | €31,509 | €12,774 | -€18,735 | -59.5% |
| Taxes | 450/3 | €26,388 | €9,504 | -€16,884 | -64.0% |
| Remuneration and social security | 454/9 | €5,121 | €3,270 | -€1,851 | -36.1% |
| Other amounts payable | 47/48 | €24,000 | €46,455 | +€22,455 | +93.6% |
| Accrued charges and deferred income | 492/3 | €13,500 | - | -€13,500 | |
| Non-recurring operating income | 76A | €54 | €41 | -€13 | -24.1% |
| Remuneration, social security and pensions | 62 | €50,567 | €56,875 | +€6,308 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,229 | €45,166 | +€28,937 | +178% |
| Other operating charges | 640/8 | €4,584 | €7,521 | +€2,937 | +64.1% |
| Gross operating margin | 9900 | €154,522 | €160,351 | +€5,829 | +3.8% |
| Operating profit (loss) | 9901 | €83,142 | €50,789 | -€32,353 | -38.9% |
| Financial income | 75/76B | - | €790 | +€790 | |
| Recurring financial income | 75 | - | €517 | +€517 | |
| Non-recurring financial income | 76B | - | €273 | +€273 | |
| Financial charges | 65/66B | €183 | €10,113 | +€9,930 | +5,426% |
| Recurring financial charges | 65 | €183 | €9,213 | +€9,030 | +4,934% |
| Non-recurring financial charges | 66B | - | €900 | +€900 | |
| Profit (loss) for the period before taxes | 9903 | €82,959 | €41,466 | -€41,493 | -50.0% |
| Income taxes | 67/77 | €15,787 | €4,439 | -€11,348 | -71.9% |
| Profit (loss) for the period | 9904 | €67,172 | €37,027 | -€30,145 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,172 | €37,027 | -€30,145 | -44.9% |
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 24 October 2026 via checked.be.