CUTS BENELUX: 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.
CUTS BENELUX
Largest movements
- Tangible fixed assets -€20,108
down €20,108 (-13.9%), from €145,009 to €124,900
of which Plant, machinery and equipment: -€12,919
- Financial fixed assets -€10,000
down €10,000 (-85.9%), from €11,635 to €1,635
- Intangible fixed assets -€7,750
down €7,750 (-5.4%), from €143,375 to €135,625
- Receivables within one year -€4,567
down €4,567 (-28.9%), from €15,777 to €11,210
of which Trade receivables: -€10,034
- Trade debts +€41,099
up €41,099 (+72.7%), from €56,523 to €97,622
- Debts after one year -€29,970
down €29,970 (-14.0%), from €213,993 to €184,023
of which Financial debts: -€44,222
- Profit (loss) carried forward -€28,483
down €28,483 (-79.4%), from €35,866 to €7,383
- Tax, wage and social debts -€21,057
down €21,057 (-57.8%), from €36,407 to €15,350
of which Remuneration and social security: -€13,396
- Other debts +€5,657
new in 2025: €5,657
- Gross operating margin -€107,702
down €107,702 (-30.8%), from €349,791 to €242,089
- Staff costs -€92,961
down €92,961 (-31.5%), from €294,908 to €201,947
- Financial charges +€17,029
up €17,029 (+110%), from €15,533 to €32,562
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 | €425,782 | €388,852 | -€36,930 | -8.7% |
| Fixed assets | 21/28 | €300,019 | €262,160 | -€37,858 | -12.6% |
| Intangible fixed assets | 21 | €143,375 | €135,625 | -€7,750 | -5.4% |
| Tangible fixed assets | 22/27 | €145,009 | €124,900 | -€20,108 | -13.9% |
| Plant, machinery and equipment | 23 | €120,111 | €107,192 | -€12,919 | -10.8% |
| Furniture and vehicles | 24 | €24,898 | €17,709 | -€7,189 | -28.9% |
| Financial fixed assets | 28 | €11,635 | €1,635 | -€10,000 | -85.9% |
| Current assets | 29/58 | €125,763 | €126,692 | +€929 | +0.7% |
| Stocks and contracts in progress | 3 | €79,186 | €83,186 | +€4,000 | +5.1% |
| Stocks | 30/36 | €79,186 | €83,186 | +€4,000 | +5.1% |
| Amounts receivable within one year | 40/41 | €15,777 | €11,210 | -€4,567 | -28.9% |
| Trade receivables | 40 | €15,407 | €5,373 | -€10,034 | -65.1% |
| Other amounts receivable | 41 | €370 | €5,836 | +€5,467 | +1,480% |
| Cash at bank and in hand | 54/58 | €30,800 | €30,646 | -€154 | -0.5% |
| Deferred charges and accrued income | 490/1 | - | €1,650 | +€1,650 | |
| Total equity and liabilities | 10/49 | €425,782 | €388,852 | -€36,930 | -8.7% |
| Equity | 10/15 | €70,440 | €40,800 | -€29,640 | -42.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,866 | €7,383 | -€28,483 | -79.4% |
| Investment grants | 15 | €4,574 | €3,417 | -€1,157 | -25.3% |
| Amounts payable | 17/49 | €355,342 | €348,052 | -€7,290 | -2.1% |
| Amounts payable after more than one year | 17 | €213,993 | €184,023 | -€29,970 | -14.0% |
| Financial debts | 170/4 | €147,284 | €103,062 | -€44,222 | -30.0% |
| Other amounts payable | 178/9 | €66,709 | €80,961 | +€14,252 | +21.4% |
| Amounts payable within one year | 42/48 | €141,349 | €164,029 | +€22,680 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €36,853 | €36,856 | +€2 | 0.0% |
| Financial debts | 43 | €11,566 | €8,544 | -€3,021 | -26.1% |
| Credit institutions | 430/8 | €11,566 | €8,544 | -€3,021 | -26.1% |
| Trade debts | 44 | €56,523 | €97,622 | +€41,099 | +72.7% |
| Suppliers | 440/4 | €56,523 | €97,622 | +€41,099 | +72.7% |
| Taxes, remuneration and social security | 45 | €36,407 | €15,350 | -€21,057 | -57.8% |
| Taxes | 450/3 | €11,188 | €3,527 | -€7,661 | -68.5% |
| Remuneration and social security | 454/9 | €25,219 | €11,823 | -€13,396 | -53.1% |
| Other amounts payable | 47/48 | - | €5,657 | +€5,657 | |
| Remuneration, social security and pensions | 62 | €294,908 | €201,947 | -€92,961 | -31.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,873 | €30,435 | +€563 | +1.9% |
| Other operating charges | 640/8 | €6,107 | €5,061 | -€1,046 | -17.1% |
| Gross operating margin | 9900 | €349,791 | €242,089 | -€107,702 | -30.8% |
| Operating profit (loss) | 9901 | €18,903 | €4,646 | -€14,257 | -75.4% |
| Financial income | 75/76B | €1,367 | €1,262 | -€104 | -7.6% |
| Recurring financial income | 75 | €1,367 | €1,262 | -€104 | -7.6% |
| Financial charges | 65/66B | €15,533 | €32,562 | +€17,029 | +110% |
| Recurring financial charges | 65 | €15,533 | €32,562 | +€17,029 | +110% |
| Profit (loss) for the period before taxes | 9903 | €4,736 | -€26,654 | -€31,390 | |
| Income taxes | 67/77 | €207 | €1,829 | +€1,622 | +785% |
| Profit (loss) for the period | 9904 | €4,529 | -€28,483 | -€33,012 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,529 | -€28,483 | -€33,012 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.