CUBE: 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.
CUBE
Largest movements
- Tangible fixed assets -€337,137
down €337,137 (-8.5%), from €4.0m to €3.6m
of which Leasing and similar rights: -€309,442
- Current portion of long-term debt -€280,623
down €280,623 (-71.1%), from €394,622 to €114,000
- Trade debts -€155,236
down €155,236 (-38.2%), from €406,674 to €251,438
- Reserves +€119,217
up €119,217 (+5.1%), from €2.4m to €2.5m
of which Distributable reserves: +€119,217
- Debts after one year -€114,000
down €114,000 (-9.8%), from €1.2m to €1.0m
- Tax, wage and social debts +€52,534
up €52,534 (+265.0%), from €19,824 to €72,358
of which Taxes: +€42,000
- Gross operating margin +€662,445
up €662,445 (+103.6%), from €639,534 to €1.3m
- Depreciation +€102,704
up €102,704 (+24.6%), from €416,828 to €519,532
- Other operating charges +€20,554
up €20,554 (+443.1%), from €4,639 to €25,192
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 | €4,983,323 | €4,558,384 | -€424,939 | -8.5% |
| Fixed assets | 21/28 | €3,963,610 | €3,626,473 | -€337,137 | -8.5% |
| Tangible fixed assets | 22/27 | €3,960,277 | €3,623,140 | -€337,137 | -8.5% |
| Land and buildings | 22 | €2,669,769 | €2,630,119 | -€39,650 | -1.5% |
| Plant, machinery and equipment | 23 | €77,426 | €58,800 | -€18,626 | -24.1% |
| Furniture and vehicles | 24 | €131,320 | €161,901 | +€30,580 | +23.3% |
| Leasing and similar rights | 25 | €1,081,762 | €772,320 | -€309,442 | -28.6% |
| Financial fixed assets | 28 | €3,333 | €3,333 | = | 0.0% |
| Current assets | 29/58 | €1,019,713 | €931,911 | -€87,802 | -8.6% |
| Amounts receivable within one year | 40/41 | €632,457 | €597,854 | -€34,603 | -5.5% |
| Trade receivables | 40 | €249,855 | €326,248 | +€76,394 | +30.6% |
| Other amounts receivable | 41 | €382,603 | €271,606 | -€110,997 | -29.0% |
| Current investments | 50/53 | €28,299 | €40,299 | +€12,000 | +42.4% |
| Cash at bank and in hand | 54/58 | €315,716 | €276,023 | -€39,693 | -12.6% |
| Deferred charges and accrued income | 490/1 | €43,241 | €17,735 | -€25,506 | -59.0% |
| Total equity and liabilities | 10/49 | €4,983,323 | €4,558,384 | -€424,939 | -8.5% |
| Equity | 10/15 | €2,449,711 | €2,568,928 | +€119,217 | +4.9% |
| Contributions | 10/11 | €90,200 | €90,200 | = | 0.0% |
| Reserves | 13 | €2,359,511 | €2,478,728 | +€119,217 | +5.1% |
| Tax-exempt reserves | 132 | €1,168,258 | €1,168,258 | = | 0.0% |
| Distributable reserves | 133 | €1,191,252 | €1,310,470 | +€119,217 | +10.0% |
| Amounts payable | 17/49 | €2,533,613 | €1,989,456 | -€544,156 | -21.5% |
| Amounts payable after more than one year | 17 | €1,158,806 | €1,044,806 | -€114,000 | -9.8% |
| Financial debts | 170/4 | €1,158,806 | €1,044,806 | -€114,000 | -9.8% |
| Amounts payable within one year | 42/48 | €1,374,807 | €944,650 | -€430,157 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €394,622 | €114,000 | -€280,623 | -71.1% |
| Trade debts | 44 | €406,674 | €251,438 | -€155,236 | -38.2% |
| Suppliers | 440/4 | €406,674 | €251,438 | -€155,236 | -38.2% |
| Taxes, remuneration and social security | 45 | €19,824 | €72,358 | +€52,534 | +265.0% |
| Taxes | 450/3 | €291 | €42,291 | +€42,000 | +14443.9% |
| Remuneration and social security | 454/9 | €19,534 | €30,067 | +€10,534 | +53.9% |
| Other amounts payable | 47/48 | €553,687 | €506,854 | -€46,833 | -8.5% |
| Non-recurring operating income | 76A | €11,186 | €46,438 | +€35,252 | +315.1% |
| Remuneration, social security and pensions | 62 | €618,734 | €621,080 | +€2,346 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €416,828 | €519,532 | +€102,704 | +24.6% |
| Other operating charges | 640/8 | €4,639 | €25,192 | +€20,554 | +443.1% |
| Non-recurring operating charges | 66A | €6,327 | €18,531 | +€12,204 | +192.9% |
| Gross operating margin | 9900 | €639,534 | €1,301,979 | +€662,445 | +103.6% |
| Operating profit (loss) | 9901 | -€406,994 | €117,643 | +€524,637 | |
| Financial income | 75/76B | €21,863 | €21,872 | +€9 | 0.0% |
| Recurring financial income | 75 | €21,863 | €21,872 | +€9 | 0.0% |
| Financial charges | 65/66B | €27,055 | €20,298 | -€6,758 | -25.0% |
| Recurring financial charges | 65 | €27,055 | €20,298 | -€6,758 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | -€412,186 | €119,217 | +€531,403 | |
| Profit (loss) for the period | 9904 | -€412,186 | €119,217 | +€531,403 | |
| Profit (loss) for the period to be appropriated | 9905 | -€412,186 | €119,217 | +€531,403 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.