DE KUBUS: 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.
DE KUBUS
Largest movements
- Receivables within one year +€17,552
up €17,552 (+13.6%), from €129,305 to €146,857
of which Other amounts receivable: +€15,289
- Tangible fixed assets -€15,733
down €15,733 (-8.0%), from €195,944 to €180,211
of which Land and buildings: -€14,793
- Cash -€4,601
down €4,601 (-94.9%), from €4,846 to €245
mainly Debts after one year (-€29,178) and Receivables within one year (-€17,552)
- Reserves +€32,274
up €32,274 (+48.7%), from €66,269 to €98,543
of which Distributable reserves: +€32,274
- Debts after one year -€29,178
down €29,178 (-34.5%), from €84,621 to €55,443
- Short-term financial debts +€14,883
up €14,883 (+14.2%), from €105,023 to €119,906
- Current portion of long-term debt -€8,666
down €8,666 (-22.9%), from €37,844 to €29,178
- Other debts -€6,635
down €6,635 (-100%), from €6,635 to €0
- Staff costs -€18,317
down €18,317 (-44.2%), from €41,426 to €23,109
- Gross operating margin +€4,487
up €4,487 (+5.6%), from €79,414 to €83,901
- Financial charges -€1,925
down €1,925 (-15.3%), from €12,590 to €10,665
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 | €363,796 | €363,989 | +€193 | +0.1% |
| Fixed assets | 21/28 | €195,944 | €180,211 | -€15,733 | -8.0% |
| Tangible fixed assets | 22/27 | €195,944 | €180,211 | -€15,733 | -8.0% |
| Land and buildings | 22 | €193,706 | €178,913 | -€14,793 | -7.6% |
| Plant, machinery and equipment | 23 | €2,106 | €1,288 | -€818 | -38.8% |
| Furniture and vehicles | 24 | €132 | €10 | -€122 | -92.3% |
| Current assets | 29/58 | €167,852 | €183,778 | +€15,926 | +9.5% |
| Stocks and contracts in progress | 3 | €32,926 | €33,511 | +€585 | +1.8% |
| Stocks | 30/36 | €32,926 | €33,511 | +€585 | +1.8% |
| Amounts receivable within one year | 40/41 | €129,305 | €146,857 | +€17,552 | +13.6% |
| Trade receivables | 40 | €8,798 | €11,060 | +€2,262 | +25.7% |
| Other amounts receivable | 41 | €120,507 | €135,797 | +€15,289 | +12.7% |
| Cash at bank and in hand | 54/58 | €4,846 | €245 | -€4,601 | -94.9% |
| Deferred charges and accrued income | 490/1 | €774 | €3,164 | +€2,390 | +309% |
| Total equity and liabilities | 10/49 | €363,796 | €363,989 | +€193 | +0.1% |
| Equity | 10/15 | €68,269 | €100,543 | +€32,274 | +47.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €66,269 | €98,543 | +€32,274 | +48.7% |
| Non-distributable reserves | 130/1 | €1,829 | €1,829 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,829 | €1,829 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,337 | €35,337 | = | 0.0% |
| Distributable reserves | 133 | €29,103 | €61,377 | +€32,274 | +111% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €295,527 | €263,446 | -€32,081 | -10.9% |
| Amounts payable after more than one year | 17 | €84,621 | €55,443 | -€29,178 | -34.5% |
| Financial debts | 170/4 | €84,621 | €55,443 | -€29,178 | -34.5% |
| Amounts payable within one year | 42/48 | €205,965 | €204,326 | -€1,639 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €37,844 | €29,178 | -€8,666 | -22.9% |
| Financial debts | 43 | €105,023 | €119,906 | +€14,883 | +14.2% |
| Credit institutions | 430/8 | €105,023 | €119,906 | +€14,883 | +14.2% |
| Trade debts | 44 | €49,478 | €52,039 | +€2,561 | +5.2% |
| Suppliers | 440/4 | €49,478 | €52,039 | +€2,561 | +5.2% |
| Taxes, remuneration and social security | 45 | €6,985 | €3,203 | -€3,782 | -54.1% |
| Taxes | 450/3 | €964 | €954 | -€11 | -1.1% |
| Remuneration and social security | 454/9 | €6,020 | €2,249 | -€3,771 | -62.6% |
| Other amounts payable | 47/48 | €6,635 | €0 | -€6,635 | -100% |
| Accrued charges and deferred income | 492/3 | €4,941 | €3,677 | -€1,264 | -25.6% |
| Non-recurring operating income | 76A | €0 | €2,996 | +€2,996 | |
| Remuneration, social security and pensions | 62 | €41,426 | €23,109 | -€18,317 | -44.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,733 | €15,733 | = | 0.0% |
| Other operating charges | 640/8 | €2,437 | €2,491 | +€54 | +2.2% |
| Non-recurring operating charges | 66A | - | €193 | +€193 | |
| Gross operating margin | 9900 | €79,414 | €83,901 | +€4,487 | +5.6% |
| Operating profit (loss) | 9901 | €19,818 | €42,376 | +€22,558 | +114% |
| Financial income | 75/76B | €180 | €563 | +€383 | +213% |
| Recurring financial income | 75 | €180 | €563 | +€383 | +213% |
| Financial charges | 65/66B | €12,590 | €10,665 | -€1,925 | -15.3% |
| Recurring financial charges | 65 | €12,590 | €10,665 | -€1,925 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €7,408 | €32,274 | +€24,865 | +336% |
| Profit (loss) for the period | 9904 | €7,408 | €32,274 | +€24,865 | +336% |
| Profit (loss) for the period to be appropriated | 9905 | €7,408 | €32,274 | +€24,865 | +336% |
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 29 October 2026 via checked.be.