CUVELIER PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year +€19,555
up €19,555 (+56.2%), from €34,792 to €54,347
of which Trade receivables: +€19,396
- Cash -€6,245
down €6,245 (-38.2%), from €16,365 to €10,120
mainly Receivables within one year (-€19,555) and Other debts (-€15,129)
- Tangible fixed assets -€4,277
down €4,277 (-18.5%), from €23,104 to €18,827
- Stocks and contracts +€1,604
up €1,604 (+31.7%), from €5,055 to €6,659
- Profit (loss) carried forward +€15,210
up €15,210 (+43.9%), from -€34,621 to -€19,411
- Other debts -€15,129
down €15,129 (-20.1%), from €75,263 to €60,134
- Trade debts +€8,105
up €8,105 (+107%), from €7,606 to €15,711
- Debts after one year -€3,048
down €3,048 (-37.4%), from €8,146 to €5,098
- Tax, wage and social debts +€2,888
new in 2025: €2,888
- Turnover +€70,134
up €70,134 (+46.3%), from €151,506 to €221,640
- Purchases and services +€50,116
up €50,116 (+34.5%), from €145,186 to €195,303
- Gross operating margin +€20,018
up €20,018 (+317%), from €6,320 to €26,337
- Taxes +€2,888
new in 2025: €2,888
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 | €79,316 | €89,953 | +€10,638 | +13.4% |
| Fixed assets | 21/28 | €23,104 | €18,827 | -€4,277 | -18.5% |
| Tangible fixed assets | 22/27 | €23,104 | €18,827 | -€4,277 | -18.5% |
| Furniture and vehicles | 24 | €23,104 | €18,827 | -€4,277 | -18.5% |
| Current assets | 29/58 | €56,211 | €71,126 | +€14,915 | +26.5% |
| Stocks and contracts in progress | 3 | €5,055 | €6,659 | +€1,604 | +31.7% |
| Stocks | 30/36 | €5,055 | €6,659 | +€1,604 | +31.7% |
| Amounts receivable within one year | 40/41 | €34,792 | €54,347 | +€19,555 | +56.2% |
| Trade receivables | 40 | €30,663 | €50,059 | +€19,396 | +63.3% |
| Other amounts receivable | 41 | €4,129 | €4,288 | +€159 | +3.9% |
| Cash at bank and in hand | 54/58 | €16,365 | €10,120 | -€6,245 | -38.2% |
| Total equity and liabilities | 10/49 | €79,316 | €89,953 | +€10,638 | +13.4% |
| Equity | 10/15 | -€14,621 | €589 | +€15,210 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,621 | -€19,411 | +€15,210 | +43.9% |
| Amounts payable | 17/49 | €93,937 | €89,364 | -€4,573 | -4.9% |
| Amounts payable after more than one year | 17 | €8,146 | €5,098 | -€3,048 | -37.4% |
| Financial debts | 170/4 | €8,146 | €5,098 | -€3,048 | -37.4% |
| Amounts payable within one year | 42/48 | €85,790 | €84,266 | -€1,525 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €2,921 | €3,048 | +€127 | +4.3% |
| Trade debts | 44 | €7,606 | €15,711 | +€8,105 | +107% |
| Suppliers | 440/4 | €7,606 | €15,711 | +€8,105 | +107% |
| Advances received on contracts in progress | 46 | - | €2,485 | +€2,485 | |
| Taxes, remuneration and social security | 45 | - | €2,888 | +€2,888 | |
| Taxes | 450/3 | - | €2,888 | +€2,888 | |
| Other amounts payable | 47/48 | €75,263 | €60,134 | -€15,129 | -20.1% |
| Turnover | 70 | €151,506 | €221,640 | +€70,134 | +46.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €145,186 | €195,303 | +€50,116 | +34.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,154 | €6,702 | -€1,452 | -17.8% |
| Other operating charges | 640/8 | €1,383 | €1,381 | -€1 | -0.1% |
| Gross operating margin | 9900 | €6,320 | €26,337 | +€20,018 | +317% |
| Operating profit (loss) | 9901 | -€3,217 | €18,254 | +€21,471 | |
| Financial income | 75/76B | €19 | €368 | +€349 | +1,839% |
| Recurring financial income | 75 | €19 | €368 | +€349 | +1,839% |
| Financial charges | 65/66B | €606 | €523 | -€83 | -13.7% |
| Recurring financial charges | 65 | €606 | €523 | -€83 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | -€3,804 | €18,099 | +€21,903 | |
| Income taxes | 67/77 | - | €2,888 | +€2,888 | |
| Profit (loss) for the period | 9904 | -€3,804 | €15,210 | +€19,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,804 | €15,210 | +€19,015 |
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 13 October 2026 via checked.be.