CUBERDONIË: 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.
CUBERDONIË
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Cash +€963,698
up €963,698 (+105%), from €914,571 to €1.9m
mainly Current investments (+€1.0m) and Other debts (+€33,882)
- Reserves -€66,952
down €66,952 (-33.0%), from €203,023 to €136,071
- Other debts +€33,882
up €33,882 (+8.2%), from €412,148 to €446,030
- Financial charges -€846,621
down €846,621 (-99.9%), from €847,514 to €893
of which Non-recurring financial charges: -€813,781
- Gross operating margin -€394,908
down €394,908, from €367,535 to -€27,373
- Taxes -€64,358
down €64,358 (-100%), from €64,358 to €0
- Staff costs -€29,135
no longer reported in 2025 (was €29,135)
- Other operating charges -€25,477
down €25,477 (-86.7%), from €29,394 to €3,917
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 | €2,325,114 | €2,284,736 | -€40,378 | -1.7% |
| Fixed assets | 21/28 | €26,089 | €26,089 | = | 0.0% |
| Tangible fixed assets | 22/27 | €26,089 | €26,089 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,183 | €2,183 | = | 0.0% |
| Furniture and vehicles | 24 | €23,906 | €23,906 | = | 0.0% |
| Current assets | 29/58 | €2,299,025 | €2,258,647 | -€40,378 | -1.8% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,266 | €2,923 | +€656 | +29.0% |
| Stocks | 30/36 | €2,266 | €2,923 | +€656 | +29.0% |
| Amounts receivable within one year | 40/41 | €336,627 | €336,945 | +€318 | +0.1% |
| Trade receivables | 40 | €1,165 | €1,072 | -€93 | -8.0% |
| Other amounts receivable | 41 | €335,462 | €335,873 | +€411 | +0.1% |
| Current investments | 50/53 | €1,000,000 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €914,571 | €1,878,269 | +€963,698 | +105% |
| Deferred charges and accrued income | 490/1 | €5,561 | €510 | -€5,050 | -90.8% |
| Total equity and liabilities | 10/49 | €2,325,114 | €2,284,736 | -€40,378 | -1.7% |
| Equity | 10/15 | €1,853,023 | €1,786,071 | -€66,952 | -3.6% |
| Contributions | 10/11 | €1,650,000 | €1,650,000 | = | 0.0% |
| Reserves | 13 | €203,023 | €136,071 | -€66,952 | -33.0% |
| Distributable reserves | 133 | €203,023 | €136,071 | -€66,952 | -33.0% |
| Amounts payable | 17/49 | €472,091 | €498,665 | +€26,574 | +5.6% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €422,074 | €448,665 | +€26,591 | +6.3% |
| Financial debts | 43 | - | €25 | +€25 | |
| Credit institutions | 430/8 | - | €25 | +€25 | |
| Trade debts | 44 | €3,559 | €2,609 | -€949 | -26.7% |
| Suppliers | 440/4 | €3,559 | €2,609 | -€949 | -26.7% |
| Taxes, remuneration and social security | 45 | €6,368 | - | -€6,368 | |
| Taxes | 450/3 | €6,368 | - | -€6,368 | |
| Other amounts payable | 47/48 | €412,148 | €446,030 | +€33,882 | +8.2% |
| Accrued charges and deferred income | 492/3 | €17 | - | -€17 | |
| Non-recurring operating income | 76A | €359,460 | - | -€359,460 | |
| Remuneration, social security and pensions | 62 | €29,135 | - | -€29,135 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,554 | - | -€5,554 | |
| Other operating charges | 640/8 | €29,394 | €3,917 | -€25,477 | -86.7% |
| Gross operating margin | 9900 | €367,535 | -€27,373 | -€394,908 | |
| Operating profit (loss) | 9901 | €303,451 | -€31,290 | -€334,742 | |
| Financial income | 75/76B | €7,224 | €10,686 | +€3,462 | +47.9% |
| Recurring financial income | 75 | €7,224 | €10,686 | +€3,462 | +47.9% |
| Financial charges | 65/66B | €847,514 | €893 | -€846,621 | -99.9% |
| Recurring financial charges | 65 | €33,733 | €893 | -€32,840 | -97.4% |
| Non-recurring financial charges | 66B | €813,781 | - | -€813,781 | |
| Profit (loss) for the period before taxes | 9903 | -€536,839 | -€21,497 | +€515,341 | +96.0% |
| Income taxes | 67/77 | €64,358 | €0 | -€64,358 | -100% |
| Profit (loss) for the period | 9904 | -€601,197 | -€21,497 | +€579,700 | +96.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€601,197 | -€21,497 | +€579,700 | +96.4% |
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.