CUZCO: 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.
CUZCO
Largest movements
- Tangible fixed assets -€45,848
down €45,848 (-5.1%), from €901,972 to €856,125
of which Land and buildings: -€33,992
- Current investments -€44,887
down €44,887 (-6.2%), from €723,051 to €678,164
- Cash -€23,777
down €23,777 (-7.9%), from €302,410 to €278,633
mainly Contributions, distributions and other (-€314,176) and Debts after one year (-€61,351)
- Reserves -€311,358
down €311,358 (-16.6%), from €1.9m to €1.6m
of which Distributable reserves: -€311,358
- Other debts +€263,445
up €263,445 (+519.3%), from €50,732 to €314,176
- Debts after one year -€61,351
down €61,351 (-25.2%), from €243,028 to €181,677
- Gross operating margin -€21,550
down €21,550 (-26.8%), from €80,466 to €58,916
- Taxes -€6,695
down €6,695 (-82.0%), from €8,170 to €1,475
- Financial income +€4,569
up €4,569 (+62.6%), from €7,298 to €11,868
of which Non-recurring financial income: +€5,113
- Other operating charges +€1,803
up €1,803 (+49.2%), from €3,662 to €5,465
- Depreciation -€986
down €986 (-1.7%), from €58,053 to €57,068
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 | €2,251,698 | €2,123,752 | -€127,947 | -5.7% |
| Fixed assets | 21/28 | €1,059,390 | €1,013,542 | -€45,848 | -4.3% |
| Tangible fixed assets | 22/27 | €901,972 | €856,125 | -€45,848 | -5.1% |
| Land and buildings | 22 | €837,403 | €803,411 | -€33,992 | -4.1% |
| Furniture and vehicles | 24 | €64,569 | €52,714 | -€11,855 | -18.4% |
| Financial fixed assets | 28 | €157,418 | €157,418 | = | 0.0% |
| Current assets | 29/58 | €1,192,308 | €1,110,209 | -€82,099 | -6.9% |
| Amounts receivable after more than one year | 29 | €105,000 | €105,000 | = | 0.0% |
| Other amounts receivable | 291 | €105,000 | €105,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €61,847 | €48,412 | -€13,435 | -21.7% |
| Trade receivables | 40 | €644 | €988 | +€345 | +53.5% |
| Other amounts receivable | 41 | €61,204 | €47,424 | -€13,780 | -22.5% |
| Current investments | 50/53 | €723,051 | €678,164 | -€44,887 | -6.2% |
| Cash at bank and in hand | 54/58 | €302,410 | €278,633 | -€23,777 | -7.9% |
| Total equity and liabilities | 10/49 | €2,251,698 | €2,123,752 | -€127,947 | -5.7% |
| Equity | 10/15 | €1,892,618 | €1,581,261 | -€311,358 | -16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,874,018 | €1,562,661 | -€311,358 | -16.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,872,158 | €1,560,801 | -€311,358 | -16.6% |
| Amounts payable | 17/49 | €359,080 | €542,491 | +€183,411 | +51.1% |
| Amounts payable after more than one year | 17 | €243,028 | €181,677 | -€61,351 | -25.2% |
| Financial debts | 170/4 | €243,028 | €181,677 | -€61,351 | -25.2% |
| Amounts payable within one year | 42/48 | €113,609 | €358,371 | +€244,762 | +215.4% |
| Current portion of amounts payable after more than one year | 42 | €56,008 | €43,864 | -€12,145 | -21.7% |
| Taxes, remuneration and social security | 45 | €6,869 | €331 | -€6,538 | -95.2% |
| Taxes | 450/3 | €6,869 | €331 | -€6,538 | -95.2% |
| Other amounts payable | 47/48 | €50,732 | €314,176 | +€263,445 | +519.3% |
| Accrued charges and deferred income | 492/3 | €2,444 | €2,444 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,053 | €57,068 | -€986 | -1.7% |
| Other operating charges | 640/8 | €3,662 | €5,465 | +€1,803 | +49.2% |
| Gross operating margin | 9900 | €80,466 | €58,916 | -€21,550 | -26.8% |
| Operating profit (loss) | 9901 | €18,751 | -€3,617 | -€22,368 | |
| Financial income | 75/76B | €7,298 | €11,868 | +€4,569 | +62.6% |
| Recurring financial income | 75 | €7,298 | €6,755 | -€544 | -7.4% |
| Non-recurring financial income | 76B | - | €5,113 | +€5,113 | |
| Financial charges | 65/66B | €4,771 | €3,958 | -€814 | -17.1% |
| Recurring financial charges | 65 | €4,771 | €3,958 | -€814 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €21,278 | €4,293 | -€16,985 | -79.8% |
| Income taxes | 67/77 | €8,170 | €1,475 | -€6,695 | -82.0% |
| Profit (loss) for the period | 9904 | €13,108 | €2,819 | -€10,289 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,108 | €2,819 | -€10,289 | -78.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.