Summary
CUBES is a financial institution. The bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €277,855 and a net result of -€4,132. Equity has been growing by about 17% per year since 2019. Its solvency ranks better than 12% of 6,694 sector peers (NACE 64, financial year 2025). The company has been active since 2011 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
Overview
Official details
Source: KBO- Status
- Active since 17-11-2011 Normal situation
- Activity
- Activities of holding companies NACE 64210and 1 other
- Joint committee
- 200 Aanvullend Paritair Comité voor de bedienden · annual accounts 30-09-2022
- Establishment unit
- 2.204.711.317 2000 Antwerpen, since 17-11-2011
- Financial year end
- 30 September
- Peppol
- Reachable since 18-01-2026
Board and ownership
Board
- Kuyps RoelandDirector · since 17-11-2011
- Spunky StringsDirector · since 01-06-2016
Shareholders
- Roeland Kuyps100%annual accounts 30-09-2019
Financial position
Financial institution: outside the modelBankruptcy probability: sector outside the model
Annual accounts to 30-09-2025
- Loss
- €4,132
- Equity
- €277,855
- ▼ 1.5%
- Total assets
- €3.2m
- ▲ 51.5%
Signalsraises riskWeak solvency compared with the sectorneutralLatest accounts filed on timeShow the evidence
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score measures liquidity, leverage and margins against the norms for trading and manufacturing companies. A bank, insurer or financial holding has a very different balance sheet. Those ratios and the score mean nothing here. So there is no financial strength either.
Bankruptcy probability within 12 months
The company is a financial institution: a bank, insurer or financial holding. Its balance sheet works differently from that of a trading or manufacturing company. A bankruptcy probability from the general model would mislead here.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Two signals.
raises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 6694 sector peers (2025).
NBB · sector comparisonPosition among 6694 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 days early
2024
22 days early
2023
1 day early
2022
on the day
2021
1 day early
2020
on the day
2019
50 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 11 days before the deadline. In the sector (NACE 64), the median for financial year 2024 was 14 days before the deadline, and 28% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The financial year that closed on 30-09-2026 is due by 30-04-2027. Nothing is late today. The company usually files around 29 April (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
30-09-2026 year end04-11-2026 today30-04-2027 deadline
Financials
Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 28-04-2026 PDF all 13 filings
Equity
€277,855▼ 1.5%
2024 · €281,987
Net result
-€4,132
2024 · €70,461
Total assets
€3.2m▲ 51.5%
2024 · €2.1m
Solvency
8.7%▼ 4.7pp
2024 · 13.4%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€53,334
▼ 53.5%
2025
20192025
Net result
-€4,132
2025
lowest quarter of the sector
20192025
Equity
€277,855
▼ 1.5%
2025
middle half of the sector
20192025
Total assets
€3.2m
▲ 51.5%
2025
middle half of the sector
20192025
Debt
€2.9m
▲ 59.7%
2025
20192025
Working capital
€400,988
▲ 58.8%
2025
highest quarter of the sector
20192025
Solvency
8.7%
▼ 4.7pp
2025
lowest quarter of the sector
20192025
Current ratio
2.01
▲ 0.25
2025
middle half of the sector
20192025
Return on assets (ROA)
-0.1%
▼ 3.5pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.1m-€0.07m▼ 44.1%€0.1m▲ 88.9%€0.1m▲ 0.6%€0.1m▲ 0.4%€0.1m▼ 19.4%€0.05m▼ 53.5%
Net result€0.1m-€0.06mwithin the sector's middle half▼ 41.2%€0.09mabove the sector's middle half▲ 54.5%€0.1mwithin the sector's middle half▲ 27.6%€0.09mwithin the sector's middle half▼ 19.3%€0.07mwithin the sector's middle half▼ 21.3%-€0.004mbelow the sector's middle half
Equity€0.1m-€0.2mwithin the sector's middle half▲ 51.2%€0.1mwithin the sector's middle half▼ 33.7%€0.1mbelow the sector's middle half▲ 10.8%€0.2mwithin the sector's middle half▲ 73.3%€0.3mwithin the sector's middle half▲ 33.3%€0.3mwithin the sector's middle half▼ 1.5%
Total assets€0.9m-€1.0mabove the sector's middle half▲ 11.4%€0.9mabove the sector's middle half▼ 1.8%€1.0mwithin the sector's middle half▲ 11.0%€1.1mwithin the sector's middle half▲ 7.1%€2.1mwithin the sector's middle half▲ 87.7%€3.2mwithin the sector's middle half▲ 51.5%
Debt€0.8m-€0.8m▲ 5.6%€0.8m▲ 4.9%€0.9m▲ 11.0%€0.9m▼ 1.7%€1.8m▲ 100%€2.9m▲ 59.7%
Working capital€0.2m-€0.2mabove the sector's middle half▲ 51.4%€0.2mabove the sector's middle half▼ 8.1%€0.1mwithin the sector's middle half▼ 34.1%€0.2mwithin the sector's middle half▲ 56.8%€0.3mwithin the sector's middle half▲ 16.5%€0.4mabove the sector's middle half▲ 58.8%
Solvency12.7%-17.3%below the sector's middle half▲ 4.5pp11.7%below the sector's middle half▼ 5.6pp11.6%below the sector's middle half=18.8%below the sector's middle half▲ 7.2pp13.4%below the sector's middle half▼ 5.5pp8.7%below the sector's middle half▼ 4.7pp
Current ratio2.79-2.60within the sector's middle half▼ 0.202.15within the sector's middle half▼ 0.441.42within the sector's middle half▼ 0.731.93within the sector's middle half▲ 0.511.76within the sector's middle half▼ 0.172.01within the sector's middle half▲ 0.25
Return on assets (ROA)11.1%-5.8%within the sector's middle half▼ 5.2pp9.2%within the sector's middle half▲ 3.3pp10.6%within the sector's middle half▲ 1.4pp8.0%within the sector's middle half▼ 2.6pp3.3%within the sector's middle half▼ 4.6pp-0.1%below the sector's middle half▼ 3.5pp
Staff (FTE)0.8-0.4below the sector's middle half▼ 50.0%
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 53% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.2m
Fixed assets
€2.4m ▲ 57.2%
Current assets
€799,355 ▲ 36.7%
Equity and liabilities €3.2m
Equity
€277,855 ▼ 1.5%
Debt
€2.9m ▲ 59.7%
Debt's share of the balance-sheet total rises from 86.6% to 91.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-1.5%▼
2024 · 25.0%
Debt ≤ 1 year
€398,368▲
2024 · €332,344
Debt > 1 year
€2.5m▲
2024 · €1.5m
Income taxes
€2,107▼
2024 · €29,560
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €66,141 | €151,565 | €998,352 | €1.1m |
| Depreciation and write-downs of the year | €37,545 | €37,858 | €49,084 | €149,981 | €239,945 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,778 | - | - | - |
| Remuneration, social security and pensions62 | - | - | -€59 | €162 | €278 | -€165 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,647 | €37,545 | €37,545 | €37,858 | €49,084 | €149,981 | €239,945 | ▲ 60.0% |
| Other operating charges640/8 | - | - | €1,892 | €2,033 | €2,480 | €2,619 | €2,318 | ▼ 11.5% |
| Gross operating margin9900 | €199,670 | €119,769 | €180,167 | €181,718 | €194,112 | €267,081 | €295,597 | ▲ 10.7% |
| Operating profit (loss)9901 | €133,366 | €74,538 | €140,789 | €141,666 | €142,269 | €114,647 | €53,334 | ▼ 53.5% |
| Financial income75/76B | - | - | €7,818 | €9,689 | €10,300 | €14,365 | €24,422 | ▲ 70.0% |
| Recurring financial income75 | €13,532 | €154 | €7,818 | €9,689 | €10,300 | €14,365 | €24,422 | ▲ 70.0% |
| Financial charges65/66B | - | - | €37,527 | €8,215 | €25,058 | €28,991 | €79,782 | ▲ 175% |
| Recurring financial charges65 | €20,806 | €1,380 | €37,527 | €8,215 | €25,058 | €28,991 | €79,782 | ▲ 175% |
| Profit (loss) for the period before taxes9903 | €126,092 | €73,311 | €111,080 | €143,140 | €127,511 | €100,020 | -€2,026 | - |
| Income taxes67/77 | €30,459 | €17,061 | €24,199 | €32,311 | €38,018 | €29,560 | €2,107 | ▼ 92.9% |
| Profit (loss) for the period9904 | €95,634 | €56,251 | €86,880 | €110,829 | €89,493 | €70,461 | -€4,132 | - |
| Profit (loss) for the period to be appropriated9905 | €95,634 | €56,251 | €86,880 | €110,829 | €89,493 | €70,461 | -€4,132 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.9m | €1.0m | €0.9m | €1.0m | €1.1m | €2.1m | €3.2m | ▲ 51.5% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.7m | €1.5m | €2.4m | ▲ 57.2% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.7m | €1.5m | €2.4m | ▲ 57.2% |
| Land and buildings22 | - | - | €0.6m | €0.6m | €0.5m | €1.4m | €2.3m | ▲ 63.3% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.1m | €0.1m | €0.08m | ▼ 23.6% |
| Current assets29/58 | €0.2m | €0.4m | €0.4m | €0.5m | €0.4m | €0.6m | €0.8m | ▲ 36.7% |
| Amounts receivable after more than one year29 | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 3.6% |
| Other amounts receivable291 | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▼ 3.6% |
| Amounts receivable within one year40/41 | €0.2m | €0.06m | €0.06m | €0.1m | €0.006m | €0.2m | €0.4m | ▲ 118% |
| Trade receivables40 | - | - | €0.04m | - | €0.005m | €0.02m | €0.03m | ▲ 46.5% |
| Other amounts receivable41 | - | - | €0.02m | €0.1m | €0.001m | €0.2m | €0.3m | ▲ 129% |
| Cash at bank and in hand54/58 | - | €320 | €0.04m | €0.09m | €0.06m | €0.04m | €0.07m | ▲ 47.6% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.003m | ▲ 268% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.9m | €1.0m | €0.9m | €1.0m | €1.1m | €2.1m | €3.2m | ▲ 51.5% |
| Equity10/15 | €0.1m | €0.2m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | ▼ 1.5% |
| Contributions10/11 | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.09m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | - | €0.09m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 3.8% |
| Amounts payable17/49 | €0.8m | €0.8m | €0.8m | €0.9m | €0.9m | €1.8m | €2.9m | ▲ 59.7% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.7m | €0.6m | €0.7m | €1.5m | €2.5m | ▲ 68.6% |
| Financial debts170/4 | - | - | €0.7m | €0.6m | €0.7m | €1.5m | €2.5m | ▲ 68.6% |
| Amounts payable within one year42/48 | €0.08m | €0.1m | €0.2m | €0.3m | €0.2m | €0.3m | €0.4m | ▲ 19.9% |
| Current portion of amounts payable after more than one year42 | - | - | €0.02m | €0.04m | €0.02m | €0.01m | €0.01m | ▼ 4.3% |
| Financial debts43 | - | - | €0.02m | €0.03m | €0.02m | €0.007m | €0.02m | ▲ 123% |
| Credit institutions430/8 | - | - | €0.02m | €0.03m | €0.02m | €0.007m | €0.02m | ▲ 123% |
| Trade debts44 | €0.01m | €0.01m | €0.05m | €0.004m | €313 | €0.004m | €0.03m | ▲ 672% |
| Suppliers440/4 | - | - | €0.05m | €0.004m | €313 | €0.004m | €0.03m | ▲ 672% |
| Taxes, remuneration and social security45 | - | - | €0.004m | €0.004m | €0.004m | €0.01m | €464 | ▼ 96.6% |
| Taxes450/3 | - | - | €0.004m | €0.004m | €0.004m | €0.01m | €464 | ▼ 96.6% |
| Other amounts payable47/48 | - | - | €0.09m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 14.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.06m | €0.09m | €0.1m | €0.09m | €0.07m | -€0.004m | - |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | €0.1m | €0.2m | ▲ 60.0% |
| Operating cash flow (approximation) | €0.1m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 7.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0.07m | -€0.1m | -€1.0m | -€1.1m | ▼ 11.2% |
| Change in cash | - | - | €0.04m | €0.05m | -€0.02m | -€0.02m | €0.02m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 28-04-2026 | 2026-00090771 | |
| 30-09-2024 | abbreviated format | 08-04-2025 | 2025-00065533 | |
| 30-09-2023 | abbreviated format | 29-04-2024 | 2024-00072655 | |
| 30-09-2022 | abbreviated format | 30-04-2023 | 2023-00073223 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20013657 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-12500205 | |
| 30-09-2019 | abbreviated format | 11-03-2020 | 2020-06400229 | |
| 30-09-2018 | abbreviated format | 08-04-2019 | 2019-09400283 | |
| 30-09-2017 | abbreviated format | 26-03-2018 | 2018-07600314 | |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-07800071 |
Board & ownership
Directors
Directors
2 directors
Kuyps Roeland
Current
Spunky Strings
Current
Owners and capital
Shareholders
1 ownerOwners 1
- Roeland Kuypsnatural personSourceown accounts 30-09-2019100%
Mandate history
2 people, 2 in office
- Board
| Name | Functions and periods |
|---|---|
| Kuyps Roeland |
|
| Spunky Strings |
|
Network & group
Board mandates elsewhere
10 board mandatesBoard mandates of CUBESCUBES sits on their board10
1 location
1 location
1 location
1 location
1 location
1 location
Show 4 more
Companies at the same address
2 other companiesConnections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
HUIS LEOPOLD
Shared director
→
Timeline
Acts, filings and financial milestones
Deadline for the 2026 accounts:
2026
2025
19-12
Director appointment · Permanent representative
30-09
Financial
Weakest financial yearnet -€4,132
The net result drops to -€4,132, the lowest from 2019 to 2025.
07-07
Other provision · Purpose change
07-07
Other provision · Purpose change
07-07
Other provision · Purpose change
08-04
abbreviated format · 22 days before the deadline
07-04
Permanent representative · Power of attorney
07-01
Capital · Other provision
07-01
Approval · Purpose change
07-01
Other provision · Purpose change
Show earlier events
07-01
Other provision · Transfer restriction
2024
10-12
Other provision · Purpose change
09-12
Approval · Purpose change
09-12
Other provision · Transfer restriction
29-04
abbreviated format · 1 day before the deadline
2023
30-09
Financial
Equity above €200,000equity €211,527 ▲73.3%
With a profit in every financial year since 2019, equity grows to €211,527.
30-04
abbreviated format · on the deadline day
2022
30-09
Financial
Highest result from 2019 to 2025net €110,829 ▲27.6%
The net result of €110,829 is the highest of those years.
29-04
micro format · 1 day before the deadline
2021
30-04
micro format · on the deadline day
2020
30-09
Financial
Equity above €150,000equity €166,144 ▲51.2%
With a profit in every financial year since 2019, equity grows to €166,144.
11-03
abbreviated format · 50 days before the deadline
2019
08-04
abbreviated format · 22 days before the deadline
2018
26-03
abbreviated format · 35 days before the deadline
2017
31-03
abbreviated format · 30 days before the deadline
2011
21-11
Financial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordName
CUBES in Dutch
Enterprise number
0841.104.618
Legal form
Private limited company (pre-2019)
Status
Active, normale toestand
Founded
17-11-2011
Entity type
Legal entity
Registered office and establishments
Registered office
Amerikalei 209, 2000 Antwerpen, Belgium
Establishment unit
Cubes, Amerikalei 209 GLV, 2000 Antwerpen since 17-11-2011 · unit number 2.204.711.317
Activities
NACEBEL 202564210
Activities of holding companies main activity
68201
Renting and operating of own or leased residential real estate, excluding social housing
Codes under NACEBEL 2008
64200
Holdings main activity
Joint committee
200 Aanvullend Paritair Comité voor de bedienden annual accounts 30-09-2022
Invoicing and payment
VAT number
BE 0841.104.618
Financial year and general meeting
Accounts at the NBBFinancial year end
30-09
Sites & property
Location
Buildings and parcels at the address
Ground area
171 m²
Building footprint
89 m²
Building volume
1,337 m³
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11811L3752/00R002 | Flanders | 171 m² | 1 · 89 m² | 18.8 m · 5 |