KUBIC: 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.
KUBIC
Largest movements
- Tangible fixed assets +€59,974
up €59,974, from €0 to €59,974
- Stocks and contracts +€26,707
up €26,707 (+66.8%), from €39,962 to €66,669
- Receivables within one year -€25,350
down €25,350 (-38.0%), from €66,779 to €41,429
of which Trade receivables: -€32,376
- Cash -€15,695
down €15,695 (-54.0%), from €29,054 to €13,359
mainly Net result for the year (-€93,431) and Investment in fixed assets (net) (-€77,979)
- Intangible fixed assets +€6,135
new in 2025: €6,135
- Other debts +€156,627
up €156,627 (+993.6%), from €15,764 to €172,391
- Profit (loss) carried forward -€84,974
down €84,974, from €0 to -€84,974
- Trade debts +€19,886
up €19,886 (+230.0%), from €8,644 to €28,530
- Debts after one year -€13,535
down €13,535 (-59.1%), from €22,918 to €9,384
- Tax, wage and social debts -€8,970
down €8,970 (-22.8%), from €39,315 to €30,345
of which Taxes: -€8,970
- Gross operating margin -€118,469
down €118,469, from €38,575 to -€79,894
- Taxes -€9,295
down €9,295 (-94.1%), from €9,874 to €579
- Depreciation +€9,010
up €9,010 (+1185.7%), from €760 to €9,770
- Other operating charges +€1,230
up €1,230 (+112.0%), from €1,098 to €2,327
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 | €135,795 | €194,072 | +€58,277 | +42.9% |
| Fixed assets | 21/28 | €0 | €68,209 | +€68,209 | |
| Intangible fixed assets | 21 | - | €6,135 | +€6,135 | |
| Tangible fixed assets | 22/27 | €0 | €59,974 | +€59,974 | |
| Plant, machinery and equipment | 23 | - | €13,260 | +€13,260 | |
| Furniture and vehicles | 24 | €0 | €25,214 | +€25,214 | |
| Other tangible fixed assets | 26 | - | €21,500 | +€21,500 | |
| Financial fixed assets | 28 | - | €2,100 | +€2,100 | |
| Current assets | 29/58 | €135,795 | €125,863 | -€9,932 | -7.3% |
| Stocks and contracts in progress | 3 | €39,962 | €66,669 | +€26,707 | +66.8% |
| Stocks | 30/36 | €39,962 | €66,669 | +€26,707 | +66.8% |
| Amounts receivable within one year | 40/41 | €66,779 | €41,429 | -€25,350 | -38.0% |
| Trade receivables | 40 | €66,779 | €34,403 | -€32,376 | -48.5% |
| Other amounts receivable | 41 | - | €7,026 | +€7,026 | |
| Cash at bank and in hand | 54/58 | €29,054 | €13,359 | -€15,695 | -54.0% |
| Deferred charges and accrued income | 490/1 | - | €4,406 | +€4,406 | |
| Total equity and liabilities | 10/49 | €135,795 | €194,072 | +€58,277 | +42.9% |
| Equity | 10/15 | €30,154 | -€63,277 | -€93,431 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,554 | €3,097 | -€8,456 | -73.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €9,694 | €3,097 | -€6,596 | -68.0% |
| Profit (loss) carried forward | 14 | €0 | -€84,974 | -€84,974 | |
| Amounts payable | 17/49 | €105,641 | €257,349 | +€151,708 | +143.6% |
| Amounts payable after more than one year | 17 | €22,918 | €9,384 | -€13,535 | -59.1% |
| Financial debts | 170/4 | €22,918 | €9,384 | -€13,535 | -59.1% |
| Amounts payable within one year | 42/48 | €82,723 | €247,965 | +€165,243 | +199.8% |
| Current portion of amounts payable after more than one year | 42 | €12,913 | €13,535 | +€622 | +4.8% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €8,644 | €28,530 | +€19,886 | +230.0% |
| Suppliers | 440/4 | €8,644 | €28,530 | +€19,886 | +230.0% |
| Advances received on contracts in progress | 46 | €6,086 | €3,164 | -€2,922 | -48.0% |
| Taxes, remuneration and social security | 45 | €39,315 | €30,345 | -€8,970 | -22.8% |
| Taxes | 450/3 | €39,315 | €30,345 | -€8,970 | -22.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €15,764 | €172,391 | +€156,627 | +993.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €9,770 | +€9,010 | +1185.7% |
| Other operating charges | 640/8 | €1,098 | €2,327 | +€1,230 | +112.0% |
| Gross operating margin | 9900 | €38,575 | -€79,894 | -€118,469 | |
| Operating profit (loss) | 9901 | €36,717 | -€91,991 | -€128,709 | |
| Financial income | 75/76B | €433 | €761 | +€328 | +75.8% |
| Recurring financial income | 75 | €433 | €761 | +€328 | +75.8% |
| Financial charges | 65/66B | €1,182 | €1,621 | +€439 | +37.1% |
| Recurring financial charges | 65 | €1,182 | €1,621 | +€439 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €35,968 | -€92,852 | -€128,820 | |
| Income taxes | 67/77 | €9,874 | €579 | -€9,295 | -94.1% |
| Profit (loss) for the period | 9904 | €26,095 | -€93,431 | -€119,525 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,095 | -€93,431 | -€119,525 |
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 5 October 2026 via checked.be.