KUBIAK: 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.
KUBIAK
Largest movements
- Cash -€5,903
down €5,903 (-85.5%), from €6,905 to €1,002
mainly Debts after one year (-€22,106) and Trade debts (-€5,941)
- Stocks and contracts -€4,216
down €4,216 (-52.4%), from €8,039 to €3,823
- Tangible fixed assets -€2,873
down €2,873 (-10.7%), from €26,917 to €24,044
of which Other tangible fixed assets: -€2,396
- Receivables within one year -€900
down €900 (-64.4%), from €1,398 to €498
of which Other amounts receivable: -€632
- Deferred charges and accrued income +€852
up €852 (+484.9%), from €176 to €1,028
- Debts after one year -€22,106
down €22,106 (-41.8%), from €52,849 to €30,742
- Tax, wage and social debts +€13,404
up €13,404 (+54.4%), from €24,621 to €38,025
of which Remuneration and social security: +€12,435
- Trade debts -€5,941
down €5,941 (-20.2%), from €29,478 to €23,538
- Short-term financial debts +€4,518
up €4,518 (+37.5%), from €12,046 to €16,564
of which Other loans: +€5,239
- Current portion of long-term debt -€2,284
down €2,284 (-5.4%), from €42,662 to €40,378
- Gross operating margin +€5,651
up €5,651 (+5.5%), from €102,329 to €107,980
- Staff costs -€5,425
down €5,425 (-5.8%), from €94,105 to €88,679
- Financial charges -€4,622
down €4,622 (-30.0%), from €15,403 to €10,781
- Other operating charges +€3,644
up €3,644 (+459.9%), from €792 to €4,436
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 | €48,327 | €35,023 | -€13,303 | -27.5% |
| Fixed assets | 21/28 | €31,808 | €28,672 | -€3,136 | -9.9% |
| Tangible fixed assets | 22/27 | €26,917 | €24,044 | -€2,873 | -10.7% |
| Plant, machinery and equipment | 23 | €2,249 | €1,773 | -€476 | -21.2% |
| Other tangible fixed assets | 26 | €24,668 | €22,271 | -€2,396 | -9.7% |
| Financial fixed assets | 28 | €4,892 | €4,628 | -€264 | -5.4% |
| Current assets | 29/58 | €16,518 | €6,351 | -€10,167 | -61.6% |
| Stocks and contracts in progress | 3 | €8,039 | €3,823 | -€4,216 | -52.4% |
| Stocks | 30/36 | €8,039 | €3,823 | -€4,216 | -52.4% |
| Amounts receivable within one year | 40/41 | €1,398 | €498 | -€900 | -64.4% |
| Trade receivables | 40 | €616 | €348 | -€268 | -43.5% |
| Other amounts receivable | 41 | €782 | €150 | -€632 | -80.8% |
| Cash at bank and in hand | 54/58 | €6,905 | €1,002 | -€5,903 | -85.5% |
| Deferred charges and accrued income | 490/1 | €176 | €1,028 | +€852 | +484.9% |
| Total equity and liabilities | 10/49 | €48,327 | €35,023 | -€13,303 | -27.5% |
| Equity | 10/15 | -€116,071 | -€114,540 | +€1,532 | +1.3% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€128,671 | -€127,140 | +€1,532 | +1.2% |
| Amounts payable | 17/49 | €164,398 | €149,563 | -€14,835 | -9.0% |
| Amounts payable after more than one year | 17 | €52,849 | €30,742 | -€22,106 | -41.8% |
| Financial debts | 170/4 | €52,849 | €30,742 | -€22,106 | -41.8% |
| Amounts payable within one year | 42/48 | €111,549 | €118,820 | +€7,272 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €42,662 | €40,378 | -€2,284 | -5.4% |
| Financial debts | 43 | €12,046 | €16,564 | +€4,518 | +37.5% |
| Credit institutions | 430/8 | €12,046 | €11,325 | -€720 | -6.0% |
| Other loans | 439 | - | €5,239 | +€5,239 | |
| Trade debts | 44 | €29,478 | €23,538 | -€5,941 | -20.2% |
| Suppliers | 440/4 | €29,478 | €23,538 | -€5,941 | -20.2% |
| Advances received on contracts in progress | 46 | €1,611 | - | -€1,611 | |
| Taxes, remuneration and social security | 45 | €24,621 | €38,025 | +€13,404 | +54.4% |
| Taxes | 450/3 | €13,814 | €14,784 | +€969 | +7.0% |
| Remuneration and social security | 454/9 | €10,807 | €23,242 | +€12,435 | +115.1% |
| Other amounts payable | 47/48 | €1,131 | €316 | -€815 | -72.1% |
| Remuneration, social security and pensions | 62 | €94,105 | €88,679 | -€5,425 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,491 | €2,873 | -€619 | -17.7% |
| Other operating charges | 640/8 | €792 | €4,436 | +€3,644 | +459.9% |
| Gross operating margin | 9900 | €102,329 | €107,980 | +€5,651 | +5.5% |
| Operating profit (loss) | 9901 | €3,940 | €11,992 | +€8,052 | +204.3% |
| Financial income | 75/76B | €8 | €320 | +€312 | +4153.2% |
| Recurring financial income | 75 | €8 | €320 | +€312 | +4153.2% |
| Financial charges | 65/66B | €15,403 | €10,781 | -€4,622 | -30.0% |
| Recurring financial charges | 65 | €15,403 | €10,781 | -€4,622 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,455 | €1,532 | +€12,986 | |
| Profit (loss) for the period | 9904 | -€11,455 | €1,532 | +€12,986 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,455 | €1,532 | +€12,986 |
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 1 October 2026 via checked.be.