CUWAURT: 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.
CUWAURT
Largest movements
- Cash -€92,154
down €92,154 (-67.4%), from €136,717 to €44,562
mainly Tax, wage and social debts (-€39,378) and Other debts (-€36,128)
- Receivables within one year +€11,483
up €11,483 (+470%), from €2,442 to €13,925
of which Other amounts receivable: +€10,442
- Tax, wage and social debts -€39,378
down €39,378 (-93.2%), from €42,264 to €2,886
- Other debts -€36,128
down €36,128 (-100%), from €36,128 to €0
- Provisions -€23,196
down €23,196 (-29.6%), from €78,362 to €55,166
- Reserves +€13,811
up €13,811 (+3.2%), from €426,577 to €440,388
of which Tax-exempt reserves: +€13,316
- Gross operating margin -€74,443
down €74,443 (-76.9%), from €96,767 to €22,324
- Taxes -€26,327
down €26,327 (-96.6%), from €27,264 to €937
- Financial charges -€8,780
down €8,780 (-96.6%), from €9,093 to €313
- Depreciation +€2,039
up €2,039 (+8.6%), from €23,664 to €25,702
- Other operating charges +€1,244
up €1,244 (+29.7%), from €4,192 to €5,436
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 | €681,966 | €601,028 | -€80,938 | -11.9% |
| Fixed assets | 21/28 | €542,807 | €540,861 | -€1,946 | -0.4% |
| Tangible fixed assets | 22/27 | €542,646 | €540,804 | -€1,842 | -0.3% |
| Land and buildings | 22 | €510,590 | €494,694 | -€15,896 | -3.1% |
| Plant, machinery and equipment | 23 | €7,218 | €4,881 | -€2,337 | -32.4% |
| Furniture and vehicles | 24 | €24,838 | €41,229 | +€16,391 | +66.0% |
| Financial fixed assets | 28 | €161 | €57 | -€104 | -64.5% |
| Current assets | 29/58 | €139,159 | €60,167 | -€78,992 | -56.8% |
| Amounts receivable within one year | 40/41 | €2,442 | €13,925 | +€11,483 | +470% |
| Trade receivables | 40 | €1,926 | €2,967 | +€1,041 | +54.0% |
| Other amounts receivable | 41 | €516 | €10,958 | +€10,442 | +2,023% |
| Cash at bank and in hand | 54/58 | €136,717 | €44,562 | -€92,154 | -67.4% |
| Deferred charges and accrued income | 490/1 | - | €1,679 | +€1,679 | |
| Total equity and liabilities | 10/49 | €681,966 | €601,028 | -€80,938 | -11.9% |
| Equity | 10/15 | €523,256 | €537,066 | +€13,811 | +2.6% |
| Contributions | 10/11 | €96,678 | €96,678 | = | 0.0% |
| Capital | 10 | €96,678 | €96,678 | = | 0.0% |
| Issued capital | 100 | €96,678 | €96,678 | = | 0.0% |
| Reserves | 13 | €426,577 | €440,388 | +€13,811 | +3.2% |
| Non-distributable reserves | 130/1 | €9,668 | €9,668 | = | 0.0% |
| Legal reserve | 130 | €9,668 | €9,668 | = | 0.0% |
| Tax-exempt reserves | 132 | €152,183 | €165,499 | +€13,316 | +8.8% |
| Distributable reserves | 133 | €264,726 | €265,221 | +€494 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €78,362 | €55,166 | -€23,196 | -29.6% |
| Deferred taxes | 168 | €78,362 | €55,166 | -€23,196 | -29.6% |
| Amounts payable | 17/49 | €80,348 | €8,795 | -€71,553 | -89.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €80,348 | €8,795 | -€71,553 | -89.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,955 | €5,909 | +€3,954 | +202% |
| Suppliers | 440/4 | €1,955 | €5,909 | +€3,954 | +202% |
| Taxes, remuneration and social security | 45 | €42,264 | €2,886 | -€39,378 | -93.2% |
| Taxes | 450/3 | €42,264 | €2,886 | -€39,378 | -93.2% |
| Other amounts payable | 47/48 | €36,128 | €0 | -€36,128 | -100% |
| Non-recurring operating income | 76A | €121,564 | €15,176 | -€106,389 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,664 | €25,702 | +€2,039 | +8.6% |
| Other operating charges | 640/8 | €4,192 | €5,436 | +€1,244 | +29.7% |
| Non-recurring operating charges | 66A | - | €104 | +€104 | |
| Gross operating margin | 9900 | €96,767 | €22,324 | -€74,443 | -76.9% |
| Operating profit (loss) | 9901 | €68,911 | -€8,918 | -€77,830 | |
| Financial income | 75/76B | €197 | €783 | +€587 | +299% |
| Recurring financial income | 75 | €197 | €783 | +€587 | +299% |
| Financial charges | 65/66B | €9,093 | €313 | -€8,780 | -96.6% |
| Recurring financial charges | 65 | €9,093 | €313 | -€8,780 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | €60,015 | -€8,448 | -€68,462 | |
| Transfer from deferred taxes | 780 | €2,914 | €1,699 | -€1,215 | -41.7% |
| Income taxes | 67/77 | €27,264 | €937 | -€26,327 | -96.6% |
| Profit (loss) for the period | 9904 | €35,664 | -€7,686 | -€43,351 | |
| Transfer from tax-exempt reserves | 789 | €5,659 | €8,181 | +€2,522 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,323 | €494 | -€40,829 | -98.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.