Kubika Projects: 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.
Kubika Projects
Largest movements
- Stocks and contracts -€117,199
down €117,199 (-28.6%), from €409,561 to €292,361
- Receivables within one year -€48,079
down €48,079 (-99.9%), from €48,107 to €28
- Cash +€19,336
up €19,336 (+372.2%), from €5,195 to €24,531
mainly Stocks and contracts (+€117,199) and Receivables within one year (+€48,079)
- Debts after one year -€197,307
down €197,307 (-100.0%), from €197,307 to €0
- Reserves +€36,577
up €36,577 (+98.6%), from €37,096 to €73,673
- Tax, wage and social debts +€9,144
up €9,144 (+98.6%), from €9,274 to €18,418
- Other debts +€5,656
up €5,656 (+2.6%), from €214,031 to €219,687
- Gross operating margin -€2,763
down €2,763 (-5.6%), from €49,526 to €46,763
- Financial income -€1,261
down €1,261 (-100.0%), from €1,261 to €0
- Depreciation -€1,108
down €1,108 (-91.4%), from €1,212 to €104
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 | €462,967 | €316,921 | -€146,046 | -31.5% |
| Formation expenses | 20 | €104 | €0 | -€104 | -100.0% |
| Current assets | 29/58 | €462,863 | €316,921 | -€145,943 | -31.5% |
| Stocks and contracts in progress | 3 | €409,561 | €292,361 | -€117,199 | -28.6% |
| Stocks | 30/36 | €409,561 | €292,361 | -€117,199 | -28.6% |
| Amounts receivable within one year | 40/41 | €48,107 | €28 | -€48,079 | -99.9% |
| Other amounts receivable | 41 | €48,107 | €28 | -€48,079 | -99.9% |
| Cash at bank and in hand | 54/58 | €5,195 | €24,531 | +€19,336 | +372.2% |
| Total equity and liabilities | 10/49 | €462,967 | €316,921 | -€146,046 | -31.5% |
| Equity | 10/15 | €42,096 | €78,673 | +€36,577 | +86.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €37,096 | €73,673 | +€36,577 | +98.6% |
| Distributable reserves | 133 | €37,096 | €73,673 | +€36,577 | +98.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €420,871 | €238,248 | -€182,623 | -43.4% |
| Amounts payable after more than one year | 17 | €197,307 | €0 | -€197,307 | -100.0% |
| Financial debts | 170/4 | €197,307 | €0 | -€197,307 | -100.0% |
| Amounts payable within one year | 42/48 | €223,564 | €238,248 | +€14,684 | +6.6% |
| Trade debts | 44 | €259 | €143 | -€116 | -44.8% |
| Suppliers | 440/4 | €259 | €143 | -€116 | -44.8% |
| Taxes, remuneration and social security | 45 | €9,274 | €18,418 | +€9,144 | +98.6% |
| Taxes | 450/3 | €9,274 | €18,418 | +€9,144 | +98.6% |
| Other amounts payable | 47/48 | €214,031 | €219,687 | +€5,656 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,212 | €104 | -€1,108 | -91.4% |
| Other operating charges | 640/8 | €549 | €639 | +€90 | +16.4% |
| Gross operating margin | 9900 | €49,526 | €46,763 | -€2,763 | -5.6% |
| Operating profit (loss) | 9901 | €47,765 | €46,020 | -€1,745 | -3.7% |
| Financial income | 75/76B | €1,261 | €0 | -€1,261 | -100.0% |
| Recurring financial income | 75 | €1,261 | €0 | -€1,261 | -100.0% |
| Financial charges | 65/66B | €176 | €299 | +€122 | +69.5% |
| Recurring financial charges | 65 | €176 | €299 | +€122 | +69.5% |
| Profit (loss) for the period before taxes | 9903 | €48,850 | €45,721 | -€3,129 | -6.4% |
| Income taxes | 67/77 | €9,274 | €9,144 | -€130 | -1.4% |
| Profit (loss) for the period | 9904 | €39,576 | €36,577 | -€2,999 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,576 | €36,577 | -€2,999 | -7.6% |
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 10 October 2026 via checked.be.