Cuzzi & Macler: 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.
Cuzzi & Macler
Largest movements
- Receivables within one year -€52,680
down €52,680 (-97.1%), from €54,250 to €1,570
of which Trade receivables: -€54,250
- Current portion of long-term debt -€76,478
down €76,478 (-77.3%), from €98,980 to €22,502
- Trade debts +€28,192
up €28,192 (+12.5%), from €225,968 to €254,161
- Gross operating margin -€15,951
down €15,951, from €15,245 to -€707
- Financial charges -€3,328
down €3,328 (-46.4%), from €7,178 to €3,850
- Other operating charges +€868
new in 2025: €868
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 | €1,469,904 | €1,404,771 | -€65,132 | -4.4% |
| Fixed assets | 21/28 | €1,117,840 | €1,117,840 | = | 0.0% |
| Financial fixed assets | 28 | €1,117,840 | €1,117,840 | = | 0.0% |
| Current assets | 29/58 | €352,064 | €286,931 | -€65,132 | -18.5% |
| Amounts receivable after more than one year | 29 | €297,814 | €285,242 | -€12,572 | -4.2% |
| Other amounts receivable | 291 | €297,814 | €285,242 | -€12,572 | -4.2% |
| Amounts receivable within one year | 40/41 | €54,250 | €1,570 | -€52,680 | -97.1% |
| Trade receivables | 40 | €54,250 | - | -€54,250 | |
| Other amounts receivable | 41 | - | €1,570 | +€1,570 | |
| Cash at bank and in hand | 54/58 | - | €120 | +€120 | |
| Total equity and liabilities | 10/49 | €1,469,904 | €1,404,771 | -€65,132 | -4.4% |
| Equity | 10/15 | €964,696 | €959,271 | -€5,424 | -0.6% |
| Contributions | 10/11 | €637,600 | €637,600 | = | 0.0% |
| Reserves | 13 | €19,036 | €19,036 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,408 | €16,408 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,408 | €16,408 | = | 0.0% |
| Distributable reserves | 133 | €2,628 | €2,628 | = | 0.0% |
| Profit (loss) carried forward | 14 | €308,060 | €302,635 | -€5,424 | -1.8% |
| Amounts payable | 17/49 | €505,208 | €445,500 | -€59,708 | -11.8% |
| Amounts payable after more than one year | 17 | €140,035 | €140,034 | -€1 | 0.0% |
| Financial debts | 170/4 | €91,295 | €90,000 | -€1,295 | -1.4% |
| Other amounts payable | 178/9 | €48,740 | €50,034 | +€1,294 | +2.7% |
| Amounts payable within one year | 42/48 | €365,151 | €305,466 | -€59,685 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €98,980 | €22,502 | -€76,478 | -77.3% |
| Financial debts | 43 | €793 | - | -€793 | |
| Credit institutions | 430/8 | €793 | - | -€793 | |
| Trade debts | 44 | €225,968 | €254,161 | +€28,192 | +12.5% |
| Suppliers | 440/4 | €225,968 | €254,161 | +€28,192 | +12.5% |
| Taxes, remuneration and social security | 45 | €28,803 | €28,803 | = | 0.0% |
| Taxes | 450/3 | €28,803 | €28,803 | = | 0.0% |
| Other amounts payable | 47/48 | €10,605 | - | -€10,605 | |
| Accrued charges and deferred income | 492/3 | €23 | - | -€23 | |
| Other operating charges | 640/8 | - | €868 | +€868 | |
| Gross operating margin | 9900 | €15,245 | -€707 | -€15,951 | |
| Operating profit (loss) | 9901 | €15,245 | -€1,575 | -€16,819 | |
| Financial charges | 65/66B | €7,178 | €3,850 | -€3,328 | -46.4% |
| Recurring financial charges | 65 | €7,178 | €3,850 | -€3,328 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €8,067 | -€5,424 | -€13,491 | |
| Profit (loss) for the period | 9904 | €8,067 | -€5,424 | -€13,491 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,067 | -€5,424 | -€13,491 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.