I-CUBE: 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.
I-CUBE
Largest movements
- Tangible fixed assets -€164,417
down €164,417 (-15.0%), from €1.1m to €929,205
- Stocks and contracts +€117,007
up €117,007 (+109%), from €107,552 to €224,559
- Cash +€38,022
up €38,022 (+42.3%), from €89,945 to €127,966
mainly Investment in fixed assets (net) (+€134,763) and Net result for the year (+€98,033)
- Receivables within one year -€31,515
down €31,515 (-81.3%), from €38,772 to €7,257
of which Other amounts receivable: -€30,215
- Debts after one year -€120,067
down €120,067 (-15.0%), from €799,051 to €678,984
- Other debts -€120,000
down €120,000 (-74.1%), from €162,032 to €42,032
- Reserves +€98,033
up €98,033 (+45.5%), from €215,690 to €313,723
of which Distributable reserves: +€64,763
- Trade debts +€77,618
up €77,618 (+4,059%), from €1,912 to €79,531
- Tax, wage and social debts +€24,450
up €24,450 (+272%), from €8,974 to €33,425
- Gross operating margin +€139,044
up €139,044 (+218%), from €63,700 to €202,744
- Taxes +€31,384
up €31,384 (+3,083%), from €1,018 to €32,402
- Financial charges +€6,805
up €6,805 (+39.1%), from €17,417 to €24,222
- Depreciation -€6,063
down €6,063 (-17.3%), from €35,117 to €29,054
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 | €1,330,492 | €1,292,865 | -€37,627 | -2.8% |
| Fixed assets | 21/28 | €1,094,223 | €930,406 | -€163,817 | -15.0% |
| Tangible fixed assets | 22/27 | €1,093,622 | €929,205 | -€164,417 | -15.0% |
| Land and buildings | 22 | €1,093,622 | €929,205 | -€164,417 | -15.0% |
| Financial fixed assets | 28 | €601 | €1,201 | +€600 | +99.8% |
| Current assets | 29/58 | €236,269 | €362,459 | +€126,190 | +53.4% |
| Stocks and contracts in progress | 3 | €107,552 | €224,559 | +€117,007 | +109% |
| Stocks | 30/36 | €107,552 | €224,559 | +€117,007 | +109% |
| Amounts receivable within one year | 40/41 | €38,772 | €7,257 | -€31,515 | -81.3% |
| Trade receivables | 40 | €1,300 | - | -€1,300 | |
| Other amounts receivable | 41 | €37,472 | €7,257 | -€30,215 | -80.6% |
| Cash at bank and in hand | 54/58 | €89,945 | €127,966 | +€38,022 | +42.3% |
| Deferred charges and accrued income | 490/1 | - | €2,677 | +€2,677 | |
| Total equity and liabilities | 10/49 | €1,330,492 | €1,292,865 | -€37,627 | -2.8% |
| Equity | 10/15 | €265,732 | €363,766 | +€98,033 | +36.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €215,690 | €313,723 | +€98,033 | +45.5% |
| Tax-exempt reserves | 132 | €135,207 | €168,478 | +€33,271 | +24.6% |
| Distributable reserves | 133 | €80,483 | €145,245 | +€64,763 | +80.5% |
| Profit (loss) carried forward | 14 | €43,843 | €43,843 | = | 0.0% |
| Provisions and deferred taxes | 16 | €45,069 | €56,159 | +€11,090 | +24.6% |
| Deferred taxes | 168 | €45,069 | €56,159 | +€11,090 | +24.6% |
| Amounts payable | 17/49 | €1,019,691 | €872,940 | -€146,750 | -14.4% |
| Amounts payable after more than one year | 17 | €799,051 | €678,984 | -€120,067 | -15.0% |
| Financial debts | 170/4 | €799,051 | €678,984 | -€120,067 | -15.0% |
| Amounts payable within one year | 42/48 | €219,603 | €191,207 | -€28,396 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €46,685 | €36,219 | -€10,465 | -22.4% |
| Trade debts | 44 | €1,912 | €79,531 | +€77,618 | +4,059% |
| Suppliers | 440/4 | €1,912 | €79,531 | +€77,618 | +4,059% |
| Taxes, remuneration and social security | 45 | €8,974 | €33,425 | +€24,450 | +272% |
| Taxes | 450/3 | €8,974 | €33,425 | +€24,450 | +272% |
| Other amounts payable | 47/48 | €162,032 | €42,032 | -€120,000 | -74.1% |
| Accrued charges and deferred income | 492/3 | €1,037 | €2,750 | +€1,713 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,117 | €29,054 | -€6,063 | -17.3% |
| Other operating charges | 640/8 | €8,599 | €7,944 | -€656 | -7.6% |
| Gross operating margin | 9900 | €63,700 | €202,744 | +€139,044 | +218% |
| Operating profit (loss) | 9901 | €19,984 | €165,747 | +€145,763 | +729% |
| Financial income | 75/76B | €440 | €0 | -€440 | -100.0% |
| Recurring financial income | 75 | €440 | €0 | -€440 | -100.0% |
| Financial charges | 65/66B | €17,417 | €24,222 | +€6,805 | +39.1% |
| Recurring financial charges | 65 | €17,417 | €24,222 | +€6,805 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €3,006 | €141,525 | +€138,519 | +4,607% |
| Transfer from deferred taxes | 780 | - | €45,069 | +€45,069 | |
| Transfer to deferred taxes | 680 | - | €56,159 | +€56,159 | |
| Income taxes | 67/77 | €1,018 | €32,402 | +€31,384 | +3,083% |
| Profit (loss) for the period | 9904 | €1,988 | €98,033 | +€96,045 | +4,830% |
| Transfer from tax-exempt reserves | 789 | - | €135,207 | +€135,207 | |
| Transfer to tax-exempt reserves | 689 | - | €168,478 | +€168,478 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,988 | €64,763 | +€62,774 | +3,157% |
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 13 October 2026 via checked.be.