CUBICS: 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.
CUBICS
Largest movements
- Receivables within one year +€267,530
up €267,530 (+34.0%), from €786,839 to €1.1m
of which Trade receivables: +€267,530
- Tangible fixed assets -€92,514
down €92,514 (-8.7%), from €1.1m to €965,267
of which Land and buildings: -€74,775
- Cash -€26,293
down €26,293 (-22.0%), from €119,565 to €93,272
mainly Receivables within one year (-€267,530) and Debts after one year (-€93,184)
- Profit (loss) carried forward +€158,663
up €158,663 (+20.1%), from €789,080 to €947,743
- Trade debts +€93,811
up €93,811 (+31.6%), from €296,857 to €390,668
- Debts after one year -€93,184
down €93,184 (-13.7%), from €681,497 to €588,313
- Staff costs -€170,645
down €170,645 (-37.9%), from €450,328 to €279,683
- Gross operating margin -€59,579
down €59,579 (-8.6%), from €689,013 to €629,435
- Taxes +€27,244
up €27,244 (+79.9%), from €34,081 to €61,325
- Depreciation -€9,324
down €9,324 (-9.2%), from €101,838 to €92,514
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 | €1,995,773 | €2,148,014 | +€152,241 | +7.6% |
| Fixed assets | 21/28 | €1,057,831 | €965,317 | -€92,514 | -8.7% |
| Tangible fixed assets | 22/27 | €1,057,781 | €965,267 | -€92,514 | -8.7% |
| Land and buildings | 22 | €1,017,906 | €943,132 | -€74,775 | -7.3% |
| Plant, machinery and equipment | 23 | €2,506 | €915 | -€1,591 | -63.5% |
| Furniture and vehicles | 24 | €37,368 | €21,219 | -€16,149 | -43.2% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €937,942 | €1,182,698 | +€244,756 | +26.1% |
| Amounts receivable within one year | 40/41 | €786,839 | €1,054,369 | +€267,530 | +34.0% |
| Trade receivables | 40 | €785,358 | €1,052,889 | +€267,530 | +34.1% |
| Other amounts receivable | 41 | €1,481 | €1,481 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €119,565 | €93,272 | -€26,293 | -22.0% |
| Deferred charges and accrued income | 490/1 | €31,538 | €35,057 | +€3,518 | +11.2% |
| Total equity and liabilities | 10/49 | €1,995,773 | €2,148,014 | +€152,241 | +7.6% |
| Equity | 10/15 | €797,140 | €955,803 | +€158,663 | +19.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €789,080 | €947,743 | +€158,663 | +20.1% |
| Amounts payable | 17/49 | €1,198,633 | €1,192,211 | -€6,421 | -0.5% |
| Amounts payable after more than one year | 17 | €681,497 | €588,313 | -€93,184 | -13.7% |
| Financial debts | 170/4 | €681,497 | €588,313 | -€93,184 | -13.7% |
| Amounts payable within one year | 42/48 | €517,136 | €601,498 | +€84,362 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €95,389 | €101,727 | +€6,338 | +6.6% |
| Trade debts | 44 | €296,857 | €390,668 | +€93,811 | +31.6% |
| Suppliers | 440/4 | €296,857 | €390,668 | +€93,811 | +31.6% |
| Taxes, remuneration and social security | 45 | €123,422 | €107,582 | -€15,840 | -12.8% |
| Taxes | 450/3 | €98,146 | €80,914 | -€17,232 | -17.6% |
| Remuneration and social security | 454/9 | €25,276 | €26,667 | +€1,391 | +5.5% |
| Other amounts payable | 47/48 | €1,467 | €1,521 | +€54 | +3.7% |
| Accrued charges and deferred income | 492/3 | - | €2,400 | +€2,400 | |
| Remuneration, social security and pensions | 62 | €450,328 | €279,683 | -€170,645 | -37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,838 | €92,514 | -€9,324 | -9.2% |
| Other operating charges | 640/8 | €31,038 | €24,769 | -€6,268 | -20.2% |
| Gross operating margin | 9900 | €689,013 | €629,435 | -€59,579 | -8.6% |
| Operating profit (loss) | 9901 | €105,810 | €232,468 | +€126,659 | +119.7% |
| Financial income | 75/76B | €687 | €85 | -€602 | -87.6% |
| Recurring financial income | 75 | €687 | €85 | -€602 | -87.6% |
| Financial charges | 65/66B | €12,252 | €12,566 | +€314 | +2.6% |
| Recurring financial charges | 65 | €12,252 | €12,566 | +€314 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €94,245 | €219,988 | +€125,743 | +133.4% |
| Income taxes | 67/77 | €34,081 | €61,325 | +€27,244 | +79.9% |
| Profit (loss) for the period | 9904 | €60,164 | €158,663 | +€98,499 | +163.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,164 | €158,663 | +€98,499 | +163.7% |
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 6 October 2026 via checked.be.