CUVELIER & KOOB: 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.
CUVELIER & KOOB
Largest movements
- Cash -€771,267
down €771,267 (-98.0%), from €787,226 to €15,959
mainly Stocks and contracts (-€589,176) and Tax, wage and social debts (-€83,250)
- Stocks and contracts +€589,176
up €589,176 (+124%), from €474,620 to €1.1m
- Tax, wage and social debts -€83,250
no longer reported in 2025 (was €83,250)
- Trade debts -€70,042
no longer reported in 2025 (was €70,042)
- Reserves -€64,083
down €64,083 (-62.9%), from €101,859 to €37,777
- Other debts +€45,579
up €45,579 (+4.5%), from €1.0m to €1.1m
- Gross operating margin -€202,614
down €202,614, from €167,231 to -€35,383
- Financial charges +€30,783
up €30,783 (+11,398%), from €270 to €31,053
- Taxes -€27,286
no longer reported in 2025 (was €27,286)
- Financial income +€2,354
new in 2025: €2,354
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 | €1,282,038 | €1,110,241 | -€171,796 | -13.4% |
| Fixed assets | 21/28 | €20,000 | €20,500 | +€500 | +2.5% |
| Financial fixed assets | 28 | €20,000 | €20,500 | +€500 | +2.5% |
| Current assets | 29/58 | €1,262,038 | €1,089,741 | -€172,296 | -13.7% |
| Amounts receivable after more than one year | 29 | - | €7,009 | +€7,009 | |
| Trade receivables | 290 | - | €7,009 | +€7,009 | |
| Stocks and contracts in progress | 3 | €474,620 | €1,063,796 | +€589,176 | +124% |
| Stocks | 30/36 | €474,620 | €1,063,796 | +€589,176 | +124% |
| Amounts receivable within one year | 40/41 | €192 | €2,977 | +€2,785 | +1,452% |
| Other amounts receivable | 41 | €192 | €2,977 | +€2,785 | +1,452% |
| Cash at bank and in hand | 54/58 | €787,226 | €15,959 | -€771,267 | -98.0% |
| Total equity and liabilities | 10/49 | €1,282,038 | €1,110,241 | -€171,796 | -13.4% |
| Equity | 10/15 | €106,859 | €42,777 | -€64,083 | -60.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €101,859 | €37,777 | -€64,083 | -62.9% |
| Distributable reserves | 133 | €101,859 | €37,777 | -€64,083 | -62.9% |
| Amounts payable | 17/49 | €1,175,178 | €1,067,464 | -€107,714 | -9.2% |
| Amounts payable within one year | 42/48 | €1,175,178 | €1,067,464 | -€107,714 | -9.2% |
| Trade debts | 44 | €70,042 | - | -€70,042 | |
| Suppliers | 440/4 | €70,042 | - | -€70,042 | |
| Taxes, remuneration and social security | 45 | €83,250 | - | -€83,250 | |
| Taxes | 450/3 | €83,250 | - | -€83,250 | |
| Other amounts payable | 47/48 | €1,021,886 | €1,067,464 | +€45,579 | +4.5% |
| Other operating charges | 640/8 | €24 | - | -€24 | |
| Gross operating margin | 9900 | €167,231 | -€35,383 | -€202,614 | |
| Operating profit (loss) | 9901 | €167,207 | -€35,383 | -€202,590 | |
| Financial income | 75/76B | - | €2,354 | +€2,354 | |
| Recurring financial income | 75 | - | €2,354 | +€2,354 | |
| Financial charges | 65/66B | €270 | €31,053 | +€30,783 | +11,398% |
| Recurring financial charges | 65 | €270 | €31,053 | +€30,783 | +11,398% |
| Profit (loss) for the period before taxes | 9903 | €166,937 | -€64,083 | -€231,019 | |
| Income taxes | 67/77 | €27,286 | - | -€27,286 | |
| Profit (loss) for the period | 9904 | €139,650 | -€64,083 | -€203,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €139,650 | -€64,083 | -€203,733 |
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 20 October 2026 via checked.be.