Cube: 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.
Cube
Largest movements
- Stocks and contracts +€445,314
up €445,314 (+29.9%), from €1.5m to €1.9m
- Receivables within one year +€373,844
up €373,844 (+61.4%), from €609,049 to €982,892
of which Trade receivables: +€354,968
- Tangible fixed assets -€102,802
down €102,802 (-8.1%), from €1.3m to €1.2m
of which Plant, machinery and equipment: -€84,695
- Cash -€51,094
down €51,094 (-25.3%), from €201,862 to €150,768
mainly Stocks and contracts (-€445,314) and Receivables within one year (-€373,844)
- Trade debts +€325,111
up €325,111 (+25.4%), from €1.3m to €1.6m
- Profit (loss) carried forward +€272,285
up €272,285, from -€234,834 to €37,451
- Other debts +€202,102
up €202,102 (+3,761%), from €5,373 to €207,476
- Debts after one year -€141,582
down €141,582 (-22.0%), from €643,523 to €501,941
- Accrued charges and deferred income +€126,575
up €126,575 (+1,678%), from €7,544 to €134,120
- Gross operating margin +€583,074
up €583,074 (+26.3%), from €2.2m to €2.8m
- Staff costs +€245,319
up €245,319 (+14.8%), from €1.7m to €1.9m
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 | €3,659,417 | €4,344,194 | +€684,777 | +18.7% |
| Fixed assets | 21/28 | €1,325,791 | €1,213,746 | -€112,044 | -8.5% |
| Intangible fixed assets | 21 | €58,070 | €48,828 | -€9,242 | -15.9% |
| Tangible fixed assets | 22/27 | €1,267,720 | €1,164,918 | -€102,802 | -8.1% |
| Plant, machinery and equipment | 23 | €1,105,591 | €1,020,896 | -€84,695 | -7.7% |
| Furniture and vehicles | 24 | €3,589 | €14,557 | +€10,968 | +306% |
| Other tangible fixed assets | 26 | €158,540 | €129,465 | -€29,075 | -18.3% |
| Current assets | 29/58 | €2,333,626 | €3,130,447 | +€796,821 | +34.1% |
| Stocks and contracts in progress | 3 | €1,486,916 | €1,932,230 | +€445,314 | +29.9% |
| Stocks | 30/36 | €1,486,916 | €1,932,230 | +€445,314 | +29.9% |
| Amounts receivable within one year | 40/41 | €609,049 | €982,892 | +€373,844 | +61.4% |
| Trade receivables | 40 | €510,109 | €865,077 | +€354,968 | +69.6% |
| Other amounts receivable | 41 | €98,940 | €117,815 | +€18,875 | +19.1% |
| Cash at bank and in hand | 54/58 | €201,862 | €150,768 | -€51,094 | -25.3% |
| Deferred charges and accrued income | 490/1 | €35,799 | €64,557 | +€28,757 | +80.3% |
| Total equity and liabilities | 10/49 | €3,659,417 | €4,344,194 | +€684,777 | +18.7% |
| Equity | 10/15 | €570,166 | €867,816 | +€297,650 | +52.2% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €30,365 | +€25,365 | +507% |
| Non-distributable reserves | 130/1 | €5,000 | €30,365 | +€25,365 | +507% |
| Legal reserve | 130 | €5,000 | €30,365 | +€25,365 | +507% |
| Profit (loss) carried forward | 14 | -€234,834 | €37,451 | +€272,285 | |
| Amounts payable | 17/49 | €3,089,251 | €3,476,378 | +€387,127 | +12.5% |
| Amounts payable after more than one year | 17 | €643,523 | €501,941 | -€141,582 | -22.0% |
| Financial debts | 170/4 | €643,523 | €501,941 | -€141,582 | -22.0% |
| Amounts payable within one year | 42/48 | €2,438,184 | €2,840,318 | +€402,134 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €158,746 | €141,582 | -€17,164 | -10.8% |
| Financial debts | 43 | €775,000 | €650,000 | -€125,000 | -16.1% |
| Credit institutions | 430/8 | €775,000 | €650,000 | -€125,000 | -16.1% |
| Trade debts | 44 | €1,279,227 | €1,604,338 | +€325,111 | +25.4% |
| Suppliers | 440/4 | €1,279,227 | €1,604,338 | +€325,111 | +25.4% |
| Taxes, remuneration and social security | 45 | €219,837 | €236,922 | +€17,085 | +7.8% |
| Taxes | 450/3 | €42,994 | €50,802 | +€7,808 | +18.2% |
| Remuneration and social security | 454/9 | €176,843 | €186,120 | +€9,277 | +5.2% |
| Other amounts payable | 47/48 | €5,373 | €207,476 | +€202,102 | +3,761% |
| Accrued charges and deferred income | 492/3 | €7,544 | €134,120 | +€126,575 | +1,678% |
| Non-recurring operating income | 76A | - | €4,605 | +€4,605 | |
| Remuneration, social security and pensions | 62 | €1,660,534 | €1,905,853 | +€245,319 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €245,763 | €271,667 | +€25,903 | +10.5% |
| Other operating charges | 640/8 | €6,153 | €506 | -€5,647 | -91.8% |
| Non-recurring operating charges | 66A | €60,000 | €0 | -€60,000 | -100% |
| Gross operating margin | 9900 | €2,218,269 | €2,801,343 | +€583,074 | +26.3% |
| Operating profit (loss) | 9901 | €245,819 | €623,318 | +€377,499 | +154% |
| Financial income | 75/76B | €4,278 | €3,330 | -€948 | -22.2% |
| Recurring financial income | 75 | €4,278 | €3,330 | -€948 | -22.2% |
| Financial charges | 65/66B | €127,672 | €119,351 | -€8,321 | -6.5% |
| Recurring financial charges | 65 | €127,672 | €119,351 | -€8,321 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €122,425 | €507,297 | +€384,872 | +314% |
| Income taxes | 67/77 | €88 | €2,171 | +€2,084 | +2,376% |
| Profit (loss) for the period | 9904 | €122,337 | €505,125 | +€382,788 | +313% |
| Profit (loss) for the period to be appropriated | 9905 | €122,337 | €505,125 | +€382,788 | +313% |
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 15 October 2026 via checked.be.