CUB'INNOV: 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.
CUB'INNOV
Largest movements
- Cash +€44,687
up €44,687 (+137%), from €32,701 to €77,388
mainly Net result for the year (+€51,861) and Other debts (+€34,685)
- Receivables within one year -€10,156
down €10,156 (-21.7%), from €46,865 to €36,710
of which Other amounts receivable: -€11,480
- Tangible fixed assets -€9,003
down €9,003 (-14.5%), from €62,082 to €53,079
of which Furniture and vehicles: -€7,270
- Deferred charges and accrued income +€2,271
up €2,271 (+48.3%), from €4,701 to €6,972
- Other debts +€34,685
up €34,685 (+60.2%), from €57,647 to €92,332
- Debts after one year -€17,846
down €17,846 (-48.1%), from €37,103 to €19,257
- Tax, wage and social debts +€5,842
up €5,842 (+150%), from €3,906 to €9,748
of which Taxes: +€4,861
- Trade debts +€2,536
up €2,536 (+129%), from €1,959 to €4,495
- Accrued charges and deferred income +€2,373
up €2,373 (+148%), from €1,607 to €3,981
- Gross operating margin +€39,319
up €39,319 (+61.5%), from €63,900 to €103,220
- Taxes +€12,738
up €12,738 (+178%), from €7,170 to €19,908
- Depreciation +€2,057
up €2,057 (+9.1%), from €22,692 to €24,750
- Staff costs +€1,769
new in 2025: €1,769
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 | €156,349 | €184,358 | +€28,009 | +17.9% |
| Fixed assets | 21/28 | €62,082 | €53,289 | -€8,793 | -14.2% |
| Tangible fixed assets | 22/27 | €62,082 | €53,079 | -€9,003 | -14.5% |
| Plant, machinery and equipment | 23 | €2,417 | €913 | -€1,504 | -62.2% |
| Furniture and vehicles | 24 | €59,009 | €51,739 | -€7,270 | -12.3% |
| Other tangible fixed assets | 26 | €657 | €427 | -€230 | -35.0% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €94,267 | €131,069 | +€36,802 | +39.0% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,865 | €36,710 | -€10,156 | -21.7% |
| Trade receivables | 40 | €35,184 | €36,509 | +€1,324 | +3.8% |
| Other amounts receivable | 41 | €11,681 | €201 | -€11,480 | -98.3% |
| Cash at bank and in hand | 54/58 | €32,701 | €77,388 | +€44,687 | +137% |
| Deferred charges and accrued income | 490/1 | €4,701 | €6,972 | +€2,271 | +48.3% |
| Total equity and liabilities | 10/49 | €156,349 | €184,358 | +€28,009 | +17.9% |
| Equity | 10/15 | €36,700 | €36,700 | = | 0.0% |
| Contributions | 10/11 | €2,600 | €2,600 | = | 0.0% |
| Reserves | 13 | €34,100 | €34,100 | = | 0.0% |
| Distributable reserves | 133 | €34,100 | €34,100 | = | 0.0% |
| Amounts payable | 17/49 | €119,650 | €147,658 | +€28,009 | +23.4% |
| Amounts payable after more than one year | 17 | €37,103 | €19,257 | -€17,846 | -48.1% |
| Financial debts | 170/4 | €37,103 | €19,257 | -€17,846 | -48.1% |
| Amounts payable within one year | 42/48 | €80,939 | €124,421 | +€43,482 | +53.7% |
| Current portion of amounts payable after more than one year | 42 | €17,427 | €17,846 | +€419 | +2.4% |
| Trade debts | 44 | €1,959 | €4,495 | +€2,536 | +129% |
| Suppliers | 440/4 | €1,959 | €4,495 | +€2,536 | +129% |
| Taxes, remuneration and social security | 45 | €3,906 | €9,748 | +€5,842 | +150% |
| Taxes | 450/3 | €3,906 | €8,767 | +€4,861 | +124% |
| Remuneration and social security | 454/9 | - | €981 | +€981 | |
| Other amounts payable | 47/48 | €57,647 | €92,332 | +€34,685 | +60.2% |
| Accrued charges and deferred income | 492/3 | €1,607 | €3,981 | +€2,373 | +148% |
| Remuneration, social security and pensions | 62 | - | €1,769 | +€1,769 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,692 | €24,750 | +€2,057 | +9.1% |
| Other operating charges | 640/8 | €1,036 | €1,036 | -€1 | 0.0% |
| Gross operating margin | 9900 | €63,900 | €103,220 | +€39,319 | +61.5% |
| Operating profit (loss) | 9901 | €40,172 | €75,665 | +€35,493 | +88.4% |
| Financial income | 75/76B | €331 | €89 | -€242 | -73.1% |
| Recurring financial income | 75 | €331 | €89 | -€242 | -73.1% |
| Financial charges | 65/66B | €3,444 | €3,986 | +€542 | +15.7% |
| Recurring financial charges | 65 | €3,444 | €3,986 | +€542 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €37,059 | €71,769 | +€34,709 | +93.7% |
| Income taxes | 67/77 | €7,170 | €19,908 | +€12,738 | +178% |
| Profit (loss) for the period | 9904 | €29,890 | €51,861 | +€21,971 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,890 | €51,861 | +€21,971 | +73.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.