CUBUZ: 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.
CUBUZ
Largest movements
- Tangible fixed assets +€508,565
up €508,565 (+106.7%), from €476,475 to €985,040
of which Assets under construction and advance payments: +€280,179
- Receivables within one year -€80,100
down €80,100 (-73.4%), from €109,175 to €29,075
- Debts after one year +€200,293
up €200,293 (+287.4%), from €69,699 to €269,992
- Trade debts +€144,164
up €144,164 (+740.8%), from €19,460 to €163,624
- Profit (loss) carried forward +€135,914
up €135,914 (+44.3%), from €306,550 to €442,464
- Tax, wage and social debts -€77,593
down €77,593 (-97.0%), from €80,000 to €2,407
of which Taxes: -€53,936
- Gross operating margin +€86,414
up €86,414 (+64.2%), from €134,613 to €221,027
- Other operating charges +€31,549
up €31,549 (+1632.1%), from €1,933 to €33,482
- Depreciation +€13,217
up €13,217 (+68.9%), from €19,177 to €32,394
- Taxes -€11,335
down €11,335 (-48.6%), from €23,306 to €11,971
- Financial charges +€4,889
up €4,889 (+205.7%), from €2,377 to €7,266
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 | €1,996,682 | €2,422,180 | +€425,498 | +21.3% |
| Fixed assets | 21/28 | €1,882,629 | €2,391,194 | +€508,565 | +27.0% |
| Tangible fixed assets | 22/27 | €476,475 | €985,040 | +€508,565 | +106.7% |
| Land and buildings | 22 | €370,894 | €621,729 | +€250,835 | +67.6% |
| Furniture and vehicles | 24 | €99,081 | €76,632 | -€22,449 | -22.7% |
| Assets under construction and advance payments | 27 | €6,500 | €286,679 | +€280,179 | +4310.4% |
| Financial fixed assets | 28 | €1,406,154 | €1,406,154 | = | 0.0% |
| Current assets | 29/58 | €114,053 | €30,986 | -€83,067 | -72.8% |
| Amounts receivable within one year | 40/41 | €109,175 | €29,075 | -€80,100 | -73.4% |
| Trade receivables | 40 | €109,175 | €29,075 | -€80,100 | -73.4% |
| Cash at bank and in hand | 54/58 | €3,994 | €1,911 | -€2,083 | -52.2% |
| Deferred charges and accrued income | 490/1 | €884 | - | -€884 | |
| Total equity and liabilities | 10/49 | €1,996,682 | €2,422,180 | +€425,498 | +21.3% |
| Equity | 10/15 | €311,550 | €447,464 | +€135,914 | +43.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,550 | €442,464 | +€135,914 | +44.3% |
| Amounts payable | 17/49 | €1,685,132 | €1,974,716 | +€289,584 | +17.2% |
| Amounts payable after more than one year | 17 | €69,699 | €269,992 | +€200,293 | +287.4% |
| Financial debts | 170/4 | €69,699 | €269,992 | +€200,293 | +287.4% |
| Amounts payable within one year | 42/48 | €1,615,097 | €1,703,657 | +€88,560 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €18,715 | €42,349 | +€23,634 | +126.3% |
| Trade debts | 44 | €19,460 | €163,624 | +€144,164 | +740.8% |
| Suppliers | 440/4 | €19,460 | €163,624 | +€144,164 | +740.8% |
| Taxes, remuneration and social security | 45 | €80,000 | €2,407 | -€77,593 | -97.0% |
| Taxes | 450/3 | €56,343 | €2,407 | -€53,936 | -95.7% |
| Remuneration and social security | 454/9 | €23,657 | - | -€23,657 | |
| Other amounts payable | 47/48 | €1,496,922 | €1,495,277 | -€1,645 | -0.1% |
| Accrued charges and deferred income | 492/3 | €336 | €1,067 | +€731 | +217.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,177 | €32,394 | +€13,217 | +68.9% |
| Other operating charges | 640/8 | €1,933 | €33,482 | +€31,549 | +1632.1% |
| Gross operating margin | 9900 | €134,613 | €221,027 | +€86,414 | +64.2% |
| Operating profit (loss) | 9901 | €113,503 | €155,151 | +€41,648 | +36.7% |
| Financial charges | 65/66B | €2,377 | €7,266 | +€4,889 | +205.7% |
| Recurring financial charges | 65 | €2,377 | €7,266 | +€4,889 | +205.7% |
| Profit (loss) for the period before taxes | 9903 | €111,126 | €147,885 | +€36,759 | +33.1% |
| Income taxes | 67/77 | €23,306 | €11,971 | -€11,335 | -48.6% |
| Profit (loss) for the period | 9904 | €87,820 | €135,914 | +€48,094 | +54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,820 | €135,914 | +€48,094 | +54.8% |
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.