Kubiek³: 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.
Kubiek³
Largest movements
- Stocks and contracts -€501,098
down €501,098 (-100%), from €501,098 to €0
- Tangible fixed assets +€427,555
up €427,555 (+34.7%), from €1.2m to €1.7m
of which Land and buildings: +€303,515
- Receivables after one year +€112,305
up €112,305 (+74.4%), from €151,000 to €263,305
- Receivables within one year -€78,294
down €78,294 (-45.6%), from €171,869 to €93,575
of which Other amounts receivable: -€90,533
- Cash -€35,626
down €35,626 (-34.6%), from €102,948 to €67,322
mainly Investment in fixed assets (net) (-€521,270) and Net result for the year (-€261,469)
- Reserves -€261,469
down €261,469 (-41.7%), from €626,409 to €364,941
of which Distributable reserves: -€261,469
- Debts after one year +€202,056
up €202,056 (+13.1%), from €1.5m to €1.7m
of which Other amounts payable: +€319,151
- Gross operating margin -€127,314
down €127,314, from €8,848 to -€118,466
- Other operating charges +€15,754
up €15,754 (+353%), from €4,460 to €20,214
- Depreciation +€13,214
up €13,214 (+16.2%), from €81,751 to €94,965
- Financial charges +€2,412
up €2,412 (+9.5%), from €25,411 to €27,823
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 | €2,323,122 | €2,276,397 | -€46,725 | -2.0% |
| Fixed assets | 21/28 | €1,394,247 | €1,820,552 | +€426,305 | +30.6% |
| Tangible fixed assets | 22/27 | €1,230,553 | €1,658,108 | +€427,555 | +34.7% |
| Land and buildings | 22 | €1,224,512 | €1,528,027 | +€303,515 | +24.8% |
| Plant, machinery and equipment | 23 | €6,041 | €4,081 | -€1,960 | -32.4% |
| Other tangible fixed assets | 26 | - | €126,000 | +€126,000 | |
| Financial fixed assets | 28 | €163,694 | €162,444 | -€1,250 | -0.8% |
| Current assets | 29/58 | €928,875 | €455,845 | -€473,030 | -50.9% |
| Amounts receivable after more than one year | 29 | €151,000 | €263,305 | +€112,305 | +74.4% |
| Other amounts receivable | 291 | €151,000 | €263,305 | +€112,305 | +74.4% |
| Stocks and contracts in progress | 3 | €501,098 | €0 | -€501,098 | -100% |
| Stocks | 30/36 | €501,098 | €0 | -€501,098 | -100% |
| Amounts receivable within one year | 40/41 | €171,869 | €93,575 | -€78,294 | -45.6% |
| Trade receivables | 40 | €14,916 | €27,154 | +€12,239 | +82.1% |
| Other amounts receivable | 41 | €156,953 | €66,420 | -€90,533 | -57.7% |
| Cash at bank and in hand | 54/58 | €102,948 | €67,322 | -€35,626 | -34.6% |
| Deferred charges and accrued income | 490/1 | €1,961 | €31,644 | +€29,683 | +1,514% |
| Total equity and liabilities | 10/49 | €2,323,122 | €2,276,397 | -€46,725 | -2.0% |
| Equity | 10/15 | €645,009 | €383,541 | -€261,469 | -40.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €626,409 | €364,941 | -€261,469 | -41.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €626,409 | €364,941 | -€261,469 | -41.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,678,113 | €1,892,857 | +€214,744 | +12.8% |
| Amounts payable after more than one year | 17 | €1,539,534 | €1,741,590 | +€202,056 | +13.1% |
| Financial debts | 170/4 | €1,062,567 | €945,472 | -€117,095 | -11.0% |
| Other amounts payable | 178/9 | €476,967 | €796,118 | +€319,151 | +66.9% |
| Amounts payable within one year | 42/48 | €119,592 | €131,712 | +€12,120 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €114,182 | €117,095 | +€2,912 | +2.6% |
| Trade debts | 44 | €5,107 | €8,583 | +€3,476 | +68.1% |
| Suppliers | 440/4 | €5,107 | €8,583 | +€3,476 | +68.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | €6,034 | +€6,034 | |
| Taxes | 450/3 | €0 | €6,034 | +€6,034 | |
| Other amounts payable | 47/48 | €303 | €0 | -€303 | -100% |
| Accrued charges and deferred income | 492/3 | €18,987 | €19,555 | +€568 | +3.0% |
| Non-recurring operating income | 76A | €0 | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,751 | €94,965 | +€13,214 | +16.2% |
| Other operating charges | 640/8 | €4,460 | €20,214 | +€15,754 | +353% |
| Gross operating margin | 9900 | €8,848 | -€118,466 | -€127,314 | |
| Operating profit (loss) | 9901 | -€77,363 | -€233,645 | -€156,282 | -202% |
| Financial income | 75/76B | €718 | €0 | -€718 | -100.0% |
| Recurring financial income | 75 | €718 | €0 | -€718 | -100.0% |
| Financial charges | 65/66B | €25,411 | €27,823 | +€2,412 | +9.5% |
| Recurring financial charges | 65 | €25,411 | €27,823 | +€2,412 | +9.5% |
| Profit (loss) for the period before taxes | 9903 | -€102,056 | -€261,469 | -€159,413 | -156% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€102,056 | -€261,469 | -€159,413 | -156% |
| Profit (loss) for the period to be appropriated | 9905 | -€102,056 | -€261,469 | -€159,413 | -156% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.