KUBECO: 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.
KUBECO
Largest movements
- Cash +€31,379
up €31,379 (+31.4%), from €99,907 to €131,286
mainly Net result for the year (+€33,220) and Depreciation (+€20,746)
- Tangible fixed assets -€21,431
down €21,431 (-10.0%), from €214,866 to €193,435
of which Furniture and vehicles: -€13,588
- Reserves +€32,720
up €32,720 (+29.2%), from €112,140 to €144,860
- Other debts -€16,206
down €16,206 (-17.8%), from €91,264 to €75,058
- Debts after one year -€9,791
down €9,791 (-9.5%), from €103,223 to €93,432
- Gross operating margin +€4,263
up €4,263 (+5.5%), from €77,100 to €81,363
- Taxes +€1,716
up €1,716 (+10.5%), from €16,288 to €18,003
- Depreciation -€1,429
down €1,429 (-6.4%), from €22,176 to €20,746
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 | €328,079 | €336,527 | +€8,448 | +2.6% |
| Fixed assets | 21/28 | €214,866 | €193,435 | -€21,431 | -10.0% |
| Tangible fixed assets | 22/27 | €214,866 | €193,435 | -€21,431 | -10.0% |
| Land and buildings | 22 | €168,455 | €160,611 | -€7,843 | -4.7% |
| Furniture and vehicles | 24 | €46,411 | €32,823 | -€13,588 | -29.3% |
| Current assets | 29/58 | €113,214 | €143,093 | +€29,879 | +26.4% |
| Amounts receivable within one year | 40/41 | €2,288 | €798 | -€1,490 | -65.1% |
| Trade receivables | 40 | €1,547 | €57 | -€1,490 | -96.3% |
| Other amounts receivable | 41 | €741 | €741 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €99,907 | €131,286 | +€31,379 | +31.4% |
| Deferred charges and accrued income | 490/1 | €11,018 | €11,008 | -€10 | -0.1% |
| Total equity and liabilities | 10/49 | €328,079 | €336,527 | +€8,448 | +2.6% |
| Equity | 10/15 | €114,640 | €147,360 | +€32,720 | +28.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €112,140 | €144,860 | +€32,720 | +29.2% |
| Distributable reserves | 133 | €112,140 | €144,860 | +€32,720 | +29.2% |
| Amounts payable | 17/49 | €213,440 | €189,167 | -€24,272 | -11.4% |
| Amounts payable after more than one year | 17 | €103,223 | €93,432 | -€9,791 | -9.5% |
| Financial debts | 170/4 | €103,223 | €93,432 | -€9,791 | -9.5% |
| Amounts payable within one year | 42/48 | €101,536 | €87,342 | -€14,195 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €9,696 | €9,791 | +€95 | +1.0% |
| Trade debts | 44 | €289 | €201 | -€87 | -30.3% |
| Suppliers | 440/4 | €289 | €201 | -€87 | -30.3% |
| Taxes, remuneration and social security | 45 | €288 | €2,291 | +€2,003 | +697% |
| Taxes | 450/3 | €288 | €2,291 | +€2,003 | +697% |
| Other amounts payable | 47/48 | €91,264 | €75,058 | -€16,206 | -17.8% |
| Accrued charges and deferred income | 492/3 | €8,680 | €8,393 | -€286 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,176 | €20,746 | -€1,429 | -6.4% |
| Other operating charges | 640/8 | €1,830 | €2,313 | +€483 | +26.4% |
| Gross operating margin | 9900 | €77,100 | €81,363 | +€4,263 | +5.5% |
| Operating profit (loss) | 9901 | €53,094 | €58,304 | +€5,210 | +9.8% |
| Financial charges | 65/66B | €7,253 | €7,080 | -€173 | -2.4% |
| Recurring financial charges | 65 | €7,253 | €7,080 | -€173 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €45,841 | €51,224 | +€5,382 | +11.7% |
| Income taxes | 67/77 | €16,288 | €18,003 | +€1,716 | +10.5% |
| Profit (loss) for the period | 9904 | €29,554 | €33,220 | +€3,667 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,554 | €33,220 | +€3,667 | +12.4% |
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 16 October 2026 via checked.be.