CUBE INVEST: 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 INVEST
Largest movements
- Tangible fixed assets -€101,271
down €101,271 (-13.1%), from €774,125 to €672,853
of which Land and buildings: -€96,960
- Stocks and contracts -€15,627
no longer reported in 2025 (was €15,627)
- Receivables within one year -€9,613
down €9,613 (-55.0%), from €17,477 to €7,864
of which Other amounts receivable: -€6,891
- Debts after one year -€254,874
down €254,874 (-59.4%), from €429,210 to €174,336
- Reserves +€114,485
up €114,485 (+26.6%), from €430,460 to €544,945
of which Distributable reserves: +€114,485
- Tax, wage and social debts +€13,109
up €13,109 (+125%), from €10,476 to €23,586
- Gross operating margin +€163,169
up €163,169 (+135%), from €121,120 to €284,289
- Taxes +€47,728
up €47,728 (+16,523%), from €289 to €48,017
- Financial charges -€4,959
down €4,959 (-24.4%), from €20,357 to €15,398
- Other operating charges +€3,697
up €3,697 (+55.2%), from €6,698 to €10,394
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 | €939,617 | €810,244 | -€129,373 | -13.8% |
| Fixed assets | 21/28 | €774,125 | €672,853 | -€101,271 | -13.1% |
| Tangible fixed assets | 22/27 | €774,125 | €672,853 | -€101,271 | -13.1% |
| Land and buildings | 22 | €597,062 | €500,102 | -€96,960 | -16.2% |
| Plant, machinery and equipment | 23 | €6,592 | €3,211 | -€3,380 | -51.3% |
| Furniture and vehicles | 24 | €68,976 | €38,889 | -€30,088 | -43.6% |
| Other tangible fixed assets | 26 | €101,494 | €130,651 | +€29,157 | +28.7% |
| Current assets | 29/58 | €165,492 | €137,391 | -€28,102 | -17.0% |
| Stocks and contracts in progress | 3 | €15,627 | - | -€15,627 | |
| Stocks | 30/36 | €15,627 | - | -€15,627 | |
| Amounts receivable within one year | 40/41 | €17,477 | €7,864 | -€9,613 | -55.0% |
| Trade receivables | 40 | €2,723 | - | -€2,723 | |
| Other amounts receivable | 41 | €14,754 | €7,864 | -€6,891 | -46.7% |
| Cash at bank and in hand | 54/58 | €127,490 | €124,247 | -€3,243 | -2.5% |
| Deferred charges and accrued income | 490/1 | €4,898 | €5,280 | +€382 | +7.8% |
| Total equity and liabilities | 10/49 | €939,617 | €810,244 | -€129,373 | -13.8% |
| Equity | 10/15 | €449,060 | €563,545 | +€114,485 | +25.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €430,460 | €544,945 | +€114,485 | +26.6% |
| Tax-exempt reserves | 132 | €27,158 | €27,158 | = | 0.0% |
| Distributable reserves | 133 | €403,302 | €517,787 | +€114,485 | +28.4% |
| Amounts payable | 17/49 | €490,557 | €246,699 | -€243,858 | -49.7% |
| Amounts payable after more than one year | 17 | €429,210 | €174,336 | -€254,874 | -59.4% |
| Financial debts | 170/4 | €429,210 | €174,336 | -€254,874 | -59.4% |
| Amounts payable within one year | 42/48 | €61,347 | €72,363 | +€11,016 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €39,974 | €40,398 | +€425 | +1.1% |
| Trade debts | 44 | €10,897 | €8,379 | -€2,518 | -23.1% |
| Suppliers | 440/4 | €10,897 | €8,379 | -€2,518 | -23.1% |
| Taxes, remuneration and social security | 45 | €10,476 | €23,586 | +€13,109 | +125% |
| Taxes | 450/3 | €10,476 | €23,586 | +€13,109 | +125% |
| Non-recurring operating income | 76A | - | €153,693 | +€153,693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,832 | €63,213 | +€381 | +0.6% |
| Other operating charges | 640/8 | €6,698 | €10,394 | +€3,697 | +55.2% |
| Gross operating margin | 9900 | €121,120 | €284,289 | +€163,169 | +135% |
| Operating profit (loss) | 9901 | €51,591 | €210,682 | +€159,091 | +308% |
| Financial income | 75/76B | €311 | €19 | -€293 | -94.0% |
| Recurring financial income | 75 | €311 | €19 | -€293 | -94.0% |
| Financial charges | 65/66B | €20,357 | €15,398 | -€4,959 | -24.4% |
| Recurring financial charges | 65 | €20,357 | €15,398 | -€4,959 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €31,545 | €195,302 | +€163,757 | +519% |
| Income taxes | 67/77 | €289 | €48,017 | +€47,728 | +16,523% |
| Profit (loss) for the period | 9904 | €31,256 | €147,285 | +€116,029 | +371% |
| Profit (loss) for the period to be appropriated | 9905 | €31,256 | €147,285 | +€116,029 | +371% |
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 27 October 2026 via checked.be.