CUVELIER GRAPHICS: 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.
CUVELIER GRAPHICS
Largest movements
- Receivables within one year +€26,849
up €26,849 (+20.0%), from €134,125 to €160,974
- Tangible fixed assets -€24,130
down €24,130 (-9.9%), from €244,851 to €220,722
of which Plant, machinery and equipment: -€22,198
- Cash +€15,415
up €15,415 (+7.8%), from €198,519 to €213,934
mainly Net result for the year (+€87,038) and Depreciation (+€25,922)
- Reserves +€65,000
up €65,000 (+29.8%), from €218,304 to €283,304
of which Distributable reserves: +€65,000
- Tax, wage and social debts -€23,358
down €23,358 (-34.6%), from €67,542 to €44,184
of which Remuneration and social security: -€32,746
- Other debts -€22,194
down €22,194 (-32.9%), from €67,476 to €45,282
- Trade debts +€19,997
up €19,997 (+24.7%), from €81,016 to €101,013
- Debts after one year -€19,376
down €19,376 (-24.8%), from €78,272 to €58,896
- Gross operating margin +€60,672
up €60,672 (+26.3%), from €230,348 to €291,020
- Depreciation +€11,428
up €11,428 (+78.8%), from €14,494 to €25,922
- Taxes +€9,866
up €9,866 (+43.8%), from €22,504 to €32,370
- Staff costs +€5,299
up €5,299 (+4.2%), from €127,514 to €132,813
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 | €595,136 | €615,831 | +€20,695 | +3.5% |
| Fixed assets | 21/28 | €249,541 | €225,882 | -€23,660 | -9.5% |
| Tangible fixed assets | 22/27 | €244,851 | €220,722 | -€24,130 | -9.9% |
| Land and buildings | 22 | €129,540 | €129,540 | = | 0.0% |
| Plant, machinery and equipment | 23 | €104,399 | €82,202 | -€22,198 | -21.3% |
| Furniture and vehicles | 24 | €7,422 | €7,257 | -€165 | -2.2% |
| Leasing and similar rights | 25 | €3,490 | €1,723 | -€1,767 | -50.6% |
| Financial fixed assets | 28 | €4,690 | €5,160 | +€470 | +10.0% |
| Current assets | 29/58 | €345,594 | €389,949 | +€44,355 | +12.8% |
| Stocks and contracts in progress | 3 | €8,998 | €13,597 | +€4,599 | +51.1% |
| Stocks | 30/36 | €8,998 | €13,597 | +€4,599 | +51.1% |
| Amounts receivable within one year | 40/41 | €134,125 | €160,974 | +€26,849 | +20.0% |
| Trade receivables | 40 | €134,125 | €160,974 | +€26,849 | +20.0% |
| Cash at bank and in hand | 54/58 | €198,519 | €213,934 | +€15,415 | +7.8% |
| Deferred charges and accrued income | 490/1 | €3,952 | €1,444 | -€2,508 | -63.5% |
| Total equity and liabilities | 10/49 | €595,136 | €615,831 | +€20,695 | +3.5% |
| Equity | 10/15 | €282,148 | €346,686 | +€64,538 | +22.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €218,304 | €283,304 | +€65,000 | +29.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €98,104 | €98,104 | = | 0.0% |
| Distributable reserves | 133 | €114,000 | €179,000 | +€65,000 | +57.0% |
| Profit (loss) carried forward | 14 | €1,844 | €1,382 | -€462 | -25.1% |
| Amounts payable | 17/49 | €312,988 | €269,145 | -€43,843 | -14.0% |
| Amounts payable after more than one year | 17 | €78,272 | €58,896 | -€19,376 | -24.8% |
| Financial debts | 170/4 | €78,272 | €58,896 | -€19,376 | -24.8% |
| Amounts payable within one year | 42/48 | €234,716 | €209,855 | -€24,861 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €18,682 | €19,376 | +€694 | +3.7% |
| Trade debts | 44 | €81,016 | €101,013 | +€19,997 | +24.7% |
| Suppliers | 440/4 | €81,016 | €101,013 | +€19,997 | +24.7% |
| Taxes, remuneration and social security | 45 | €67,542 | €44,184 | -€23,358 | -34.6% |
| Taxes | 450/3 | €13,348 | €22,736 | +€9,388 | +70.3% |
| Remuneration and social security | 454/9 | €54,194 | €21,448 | -€32,746 | -60.4% |
| Other amounts payable | 47/48 | €67,476 | €45,282 | -€22,194 | -32.9% |
| Accrued charges and deferred income | 492/3 | - | €394 | +€394 | |
| Remuneration, social security and pensions | 62 | €127,514 | €132,813 | +€5,299 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,494 | €25,922 | +€11,428 | +78.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€504 | - | +€504 | |
| Other operating charges | 640/8 | €8,911 | €11,475 | +€2,564 | +28.8% |
| Gross operating margin | 9900 | €230,348 | €291,020 | +€60,672 | +26.3% |
| Operating profit (loss) | 9901 | €79,933 | €120,810 | +€40,877 | +51.1% |
| Financial income | 75/76B | €3,409 | €3,473 | +€64 | +1.9% |
| Recurring financial income | 75 | €3,409 | €3,473 | +€64 | +1.9% |
| Financial charges | 65/66B | €2,950 | €4,876 | +€1,925 | +65.3% |
| Recurring financial charges | 65 | €2,950 | €4,876 | +€1,925 | +65.3% |
| Profit (loss) for the period before taxes | 9903 | €80,392 | €119,408 | +€39,015 | +48.5% |
| Income taxes | 67/77 | €22,504 | €32,370 | +€9,866 | +43.8% |
| Profit (loss) for the period | 9904 | €57,889 | €87,038 | +€29,149 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €57,889 | €87,038 | +€29,149 | +50.4% |
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 1 October 2026 via checked.be.