KUBE: 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.
KUBE
Largest movements
- Cash +€40,160
up €40,160 (+32.7%), from €122,694 to €162,854
mainly Net result for the year (+€35,500) and Current portion of long-term debt (+€13,049)
- Tangible fixed assets +€6,446
up €6,446 (+34.8%), from €18,542 to €24,989
of which Plant, machinery and equipment: +€12,002
- Deferred charges and accrued income -€3,202
no longer reported in 2025 (was €3,202)
- Reserves +€17,164
up €17,164 (+17.3%), from €99,467 to €116,631
of which Distributable reserves: +€17,164
- Current portion of long-term debt +€13,049
new in 2025: €13,049
- Other debts +€10,418
up €10,418 (+81.3%), from €12,807 to €23,225
- Debts after one year +€9,119
new in 2025: €9,119
- Trade debts -€6,778
down €6,778 (-60.2%), from €11,251 to €4,473
- Financial income +€1,713
up €1,713 (+159.4%), from €1,075 to €2,788
- Depreciation -€1,259
down €1,259 (-9.5%), from €13,194 to €11,935
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 | €160,459 | €203,505 | +€43,047 | +26.8% |
| Fixed assets | 21/28 | €18,542 | €24,989 | +€6,446 | +34.8% |
| Tangible fixed assets | 22/27 | €18,542 | €24,989 | +€6,446 | +34.8% |
| Land and buildings | 22 | €5,555 | €0 | -€5,555 | -100.0% |
| Plant, machinery and equipment | 23 | €12,987 | €24,989 | +€12,002 | +92.4% |
| Current assets | 29/58 | €141,916 | €178,516 | +€36,600 | +25.8% |
| Stocks and contracts in progress | 3 | €2,075 | €2,017 | -€58 | -2.8% |
| Stocks | 30/36 | €2,075 | €2,017 | -€58 | -2.8% |
| Amounts receivable within one year | 40/41 | €13,945 | €13,646 | -€299 | -2.1% |
| Trade receivables | 40 | €975 | €1,511 | +€536 | +55.0% |
| Other amounts receivable | 41 | €12,970 | €12,135 | -€835 | -6.4% |
| Cash at bank and in hand | 54/58 | €122,694 | €162,854 | +€40,160 | +32.7% |
| Deferred charges and accrued income | 490/1 | €3,202 | - | -€3,202 | |
| Total equity and liabilities | 10/49 | €160,459 | €203,505 | +€43,047 | +26.8% |
| Equity | 10/15 | €121,436 | €138,600 | +€17,164 | +14.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €99,467 | €116,631 | +€17,164 | +17.3% |
| Non-distributable reserves | 130/1 | €8,277 | €8,277 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,277 | €8,277 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €81,190 | €98,354 | +€17,164 | +21.1% |
| Profit (loss) carried forward | 14 | €1,969 | €1,969 | = | 0.0% |
| Amounts payable | 17/49 | €39,023 | €64,905 | +€25,882 | +66.3% |
| Amounts payable after more than one year | 17 | - | €9,119 | +€9,119 | |
| Financial debts | 170/4 | - | €9,119 | +€9,119 | |
| Amounts payable within one year | 42/48 | €39,023 | €55,786 | +€16,763 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | - | €13,049 | +€13,049 | |
| Trade debts | 44 | €11,251 | €4,473 | -€6,778 | -60.2% |
| Suppliers | 440/4 | €11,251 | €4,473 | -€6,778 | -60.2% |
| Taxes, remuneration and social security | 45 | €14,965 | €15,039 | +€74 | +0.5% |
| Taxes | 450/3 | €674 | €2,408 | +€1,734 | +257.3% |
| Remuneration and social security | 454/9 | €14,291 | €12,630 | -€1,660 | -11.6% |
| Other amounts payable | 47/48 | €12,807 | €23,225 | +€10,418 | +81.3% |
| Remuneration, social security and pensions | 62 | €60,582 | €60,758 | +€176 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,194 | €11,935 | -€1,259 | -9.5% |
| Other operating charges | 640/8 | €3,233 | €3,320 | +€87 | +2.7% |
| Gross operating margin | 9900 | €125,286 | €125,886 | +€600 | +0.5% |
| Operating profit (loss) | 9901 | €48,277 | €49,874 | +€1,597 | +3.3% |
| Financial income | 75/76B | €1,075 | €2,788 | +€1,713 | +159.4% |
| Recurring financial income | 75 | €1,075 | €2,788 | +€1,713 | +159.4% |
| Financial charges | 65/66B | €72 | €641 | +€569 | +793.3% |
| Recurring financial charges | 65 | €72 | €641 | +€569 | +793.3% |
| Profit (loss) for the period before taxes | 9903 | €49,280 | €52,021 | +€2,741 | +5.6% |
| Income taxes | 67/77 | €16,009 | €16,521 | +€512 | +3.2% |
| Profit (loss) for the period | 9904 | €33,271 | €35,500 | +€2,229 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,271 | €35,500 | +€2,229 | +6.7% |
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 9 October 2026 via checked.be.