Transport Cuvelier: what changed
Transport Cuvelier
Largest movements
- Receivables within one year -€153,745
down €153,745 (-73.9%), from €207,918 to €54,173
of which Trade receivables: -€188,838
- Intangible fixed assets -€34,000
down €34,000 (-10.0%), from €339,907 to €305,907
- Cash +€27,087
up €27,087 (+677%), from €4,000 to €31,087
mainly Debts after one year (+€241,957) and Receivables within one year (+€153,745)
- Trade debts -€474,709
down €474,709 (-98.1%), from €483,858 to €9,149
- Debts after one year +€241,957
new in 2025: €241,957
- Current portion of long-term debt +€40,621
new in 2025: €40,621
- Tax, wage and social debts +€34,562
up €34,562 (+163%), from €21,192 to €55,754
of which Remuneration and social security: +€20,015
- Accrued charges and deferred income -€14,427
no longer reported in 2025 (was €14,427)
- Staff costs +€48,708
up €48,708 (+233%), from €20,921 to €69,629
- Gross operating margin +€44,589
up €44,589 (+43.2%), from €103,247 to €147,835
- Depreciation +€43,569
up €43,569 (+36,898%), from €118 to €43,687
- Taxes -€18,406
down €18,406 (-86.9%), from €21,192 to €2,786
- Financial charges +€18,126
up €18,126 (+791%), from €2,292 to €20,418
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €578,377 | €413,622 | -€164,754 | -28.5% |
| Fixed assets | 21/28 | €366,459 | €328,070 | -€38,389 | -10.5% |
| Intangible fixed assets | 21 | €339,907 | €305,907 | -€34,000 | -10.0% |
| Tangible fixed assets | 22/27 | €26,552 | €22,163 | -€4,389 | -16.5% |
| Plant, machinery and equipment | 23 | €10,588 | €12,891 | +€2,303 | +21.7% |
| Furniture and vehicles | 24 | €15,964 | €9,272 | -€6,692 | -41.9% |
| Current assets | 29/58 | €211,918 | €85,552 | -€126,365 | -59.6% |
| Amounts receivable within one year | 40/41 | €207,918 | €54,173 | -€153,745 | -73.9% |
| Trade receivables | 40 | €203,491 | €14,653 | -€188,838 | -92.8% |
| Other amounts receivable | 41 | €4,427 | €39,520 | +€35,093 | +793% |
| Cash at bank and in hand | 54/58 | €4,000 | €31,087 | +€27,087 | +677% |
| Deferred charges and accrued income | 490/1 | - | €293 | +€293 | |
| Total equity and liabilities | 10/49 | €578,377 | €413,622 | -€164,754 | -28.5% |
| Equity | 10/15 | €58,900 | €61,878 | +€2,978 | +5.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €54,900 | €57,878 | +€2,978 | +5.4% |
| Distributable reserves | 133 | €54,900 | €57,878 | +€2,978 | +5.4% |
| Amounts payable | 17/49 | €519,477 | €351,745 | -€167,732 | -32.3% |
| Amounts payable after more than one year | 17 | - | €241,957 | +€241,957 | |
| Financial debts | 170/4 | - | €241,957 | +€241,957 | |
| Amounts payable within one year | 42/48 | €505,050 | €109,788 | -€395,262 | -78.3% |
| Current portion of amounts payable after more than one year | 42 | - | €40,621 | +€40,621 | |
| Financial debts | 43 | - | €4,263 | +€4,263 | |
| Other loans | 439 | - | €4,263 | +€4,263 | |
| Trade debts | 44 | €483,858 | €9,149 | -€474,709 | -98.1% |
| Suppliers | 440/4 | €483,858 | €9,149 | -€474,709 | -98.1% |
| Taxes, remuneration and social security | 45 | €21,192 | €55,754 | +€34,562 | +163% |
| Taxes | 450/3 | €21,192 | €35,739 | +€14,547 | +68.6% |
| Remuneration and social security | 454/9 | - | €20,015 | +€20,015 | |
| Accrued charges and deferred income | 492/3 | €14,427 | - | -€14,427 | |
| Remuneration, social security and pensions | 62 | €20,921 | €69,629 | +€48,708 | +233% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118 | €43,687 | +€43,569 | +36,898% |
| Other operating charges | 640/8 | €3,824 | €9,569 | +€5,745 | +150% |
| Gross operating margin | 9900 | €103,247 | €147,835 | +€44,589 | +43.2% |
| Operating profit (loss) | 9901 | €78,384 | €24,951 | -€53,433 | -68.2% |
| Financial income | 75/76B | - | €1,231 | +€1,231 | |
| Recurring financial income | 75 | - | €1,231 | +€1,231 | |
| Financial charges | 65/66B | €2,292 | €20,418 | +€18,126 | +791% |
| Recurring financial charges | 65 | €2,292 | €20,418 | +€18,126 | +791% |
| Profit (loss) for the period before taxes | 9903 | €76,092 | €5,764 | -€70,327 | -92.4% |
| Income taxes | 67/77 | €21,192 | €2,786 | -€18,406 | -86.9% |
| Profit (loss) for the period | 9904 | €54,900 | €2,978 | -€51,922 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,900 | €2,978 | -€51,922 | -94.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.