CUTZ: 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.
CUTZ
Largest movements
- Stocks and contracts +€43,111
up €43,111 (+100.0%), from €43,126 to €86,237
- Receivables within one year +€33,044
up €33,044 (+172.2%), from €19,192 to €52,236
of which Trade receivables: +€26,458
- Cash -€25,216
down €25,216 (-47.7%), from €52,814 to €27,598
mainly Stocks and contracts (-€43,111) and Receivables within one year (-€33,044)
- Tangible fixed assets +€3,346
up €3,346 (+7.9%), from €42,405 to €45,751
of which Furniture and vehicles: +€5,592
- Reserves +€56,642
up €56,642 (+127.4%), from €44,451 to €101,094
- Debts after one year -€10,818
down €10,818 (-76.8%), from €14,086 to €3,268
of which Financial debts: -€5,887
- Trade debts +€9,299
up €9,299 (+17.1%), from €54,323 to €63,621
- Gross operating margin +€56,980
up €56,980 (+55.8%), from €102,072 to €159,052
- Staff costs +€13,868
up €13,868 (+45.6%), from €30,390 to €44,258
- Other operating charges +€10,376
up €10,376 (+753.3%), from €1,377 to €11,753
- Taxes +€6,267
up €6,267 (+54.9%), from €11,412 to €17,678
- Depreciation +€5,052
up €5,052 (+49.6%), from €10,179 to €15,231
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 | €164,686 | €220,917 | +€56,232 | +34.1% |
| Fixed assets | 21/28 | €42,405 | €45,751 | +€3,346 | +7.9% |
| Tangible fixed assets | 22/27 | €42,405 | €45,751 | +€3,346 | +7.9% |
| Plant, machinery and equipment | 23 | €2,639 | €2,041 | -€598 | -22.7% |
| Furniture and vehicles | 24 | €33,709 | €39,302 | +€5,592 | +16.6% |
| Other tangible fixed assets | 26 | €6,056 | €4,408 | -€1,649 | -27.2% |
| Current assets | 29/58 | €122,281 | €175,166 | +€52,886 | +43.2% |
| Stocks and contracts in progress | 3 | €43,126 | €86,237 | +€43,111 | +100.0% |
| Stocks | 30/36 | €43,126 | €86,237 | +€43,111 | +100.0% |
| Amounts receivable within one year | 40/41 | €19,192 | €52,236 | +€33,044 | +172.2% |
| Trade receivables | 40 | €16,586 | €43,044 | +€26,458 | +159.5% |
| Other amounts receivable | 41 | €2,606 | €9,192 | +€6,586 | +252.7% |
| Cash at bank and in hand | 54/58 | €52,814 | €27,598 | -€25,216 | -47.7% |
| Deferred charges and accrued income | 490/1 | €7,148 | €9,095 | +€1,947 | +27.2% |
| Total equity and liabilities | 10/49 | €164,686 | €220,917 | +€56,232 | +34.1% |
| Equity | 10/15 | €46,951 | €103,594 | +€56,642 | +120.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €44,451 | €101,094 | +€56,642 | +127.4% |
| Distributable reserves | 133 | €44,451 | €101,094 | +€56,642 | +127.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €117,734 | €117,324 | -€411 | -0.3% |
| Amounts payable after more than one year | 17 | €14,086 | €3,268 | -€10,818 | -76.8% |
| Financial debts | 170/4 | €7,901 | €2,015 | -€5,887 | -74.5% |
| Other amounts payable | 178/9 | €6,185 | €1,253 | -€4,932 | -79.7% |
| Amounts payable within one year | 42/48 | €103,648 | €114,056 | +€10,408 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €10,462 | €10,818 | +€356 | +3.4% |
| Financial debts | 43 | - | €26 | +€26 | |
| Credit institutions | 430/8 | - | €26 | +€26 | |
| Trade debts | 44 | €54,323 | €63,621 | +€9,299 | +17.1% |
| Suppliers | 440/4 | €54,323 | €63,621 | +€9,299 | +17.1% |
| Taxes, remuneration and social security | 45 | €38,005 | €39,590 | +€1,586 | +4.2% |
| Taxes | 450/3 | €34,691 | €35,275 | +€583 | +1.7% |
| Remuneration and social security | 454/9 | €3,313 | €4,316 | +€1,002 | +30.3% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100.0% |
| Remuneration, social security and pensions | 62 | €30,390 | €44,258 | +€13,868 | +45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,179 | €15,231 | +€5,052 | +49.6% |
| Other operating charges | 640/8 | €1,377 | €11,753 | +€10,376 | +753.3% |
| Non-recurring operating charges | 66A | - | €433 | +€433 | |
| Gross operating margin | 9900 | €102,072 | €159,052 | +€56,980 | +55.8% |
| Operating profit (loss) | 9901 | €60,126 | €87,377 | +€27,251 | +45.3% |
| Financial income | 75/76B | €1 | €797 | +€796 | +126392.1% |
| Recurring financial income | 75 | €1 | €797 | +€796 | +126392.1% |
| Financial charges | 65/66B | €11,980 | €13,853 | +€1,874 | +15.6% |
| Recurring financial charges | 65 | €11,980 | €13,853 | +€1,874 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €48,147 | €74,321 | +€26,173 | +54.4% |
| Income taxes | 67/77 | €11,412 | €17,678 | +€6,267 | +54.9% |
| Profit (loss) for the period | 9904 | €36,736 | €56,642 | +€19,906 | +54.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,736 | €56,642 | +€19,906 | +54.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.