KUBIRA: 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.
KUBIRA
Largest movements
- Stocks and contracts +€84,392
up €84,392 (+22.4%), from €377,507 to €461,899
- Receivables within one year +€14,750
up €14,750 (+191%), from €7,718 to €22,468
of which Other amounts receivable: +€11,782
- Other debts +€101,546
up €101,546 (+293%), from €34,675 to €136,221
- Depreciation -€148
no longer reported in 2025 (was €148)
- Gross operating margin +€58
up €58 (+6.0%), from -€969 to -€911
- Financial charges +€44
new in 2025: €44
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 | €385,378 | €484,665 | +€99,287 | +25.8% |
| Current assets | 29/58 | €385,378 | €484,665 | +€99,287 | +25.8% |
| Stocks and contracts in progress | 3 | €377,507 | €461,899 | +€84,392 | +22.4% |
| Stocks | 30/36 | €377,507 | €461,899 | +€84,392 | +22.4% |
| Amounts receivable within one year | 40/41 | €7,718 | €22,468 | +€14,750 | +191% |
| Trade receivables | 40 | €5,635 | €8,603 | +€2,968 | +52.7% |
| Other amounts receivable | 41 | €2,083 | €13,865 | +€11,782 | +566% |
| Cash at bank and in hand | 54/58 | €153 | €298 | +€145 | +94.8% |
| Total equity and liabilities | 10/49 | €385,378 | €484,665 | +€99,287 | +25.8% |
| Equity | 10/15 | €347,413 | €346,458 | -€955 | -0.3% |
| Contributions | 10/11 | €385,550 | €385,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,137 | -€39,092 | -€955 | -2.5% |
| Amounts payable | 17/49 | €37,965 | €138,207 | +€100,242 | +264% |
| Amounts payable within one year | 42/48 | €37,965 | €138,207 | +€100,242 | +264% |
| Trade debts | 44 | €3,290 | €1,986 | -€1,304 | -39.6% |
| Suppliers | 440/4 | €3,290 | €1,986 | -€1,304 | -39.6% |
| Other amounts payable | 47/48 | €34,675 | €136,221 | +€101,546 | +293% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148 | - | -€148 | |
| Gross operating margin | 9900 | -€969 | -€911 | +€58 | +6.0% |
| Operating profit (loss) | 9901 | -€1,117 | -€911 | +€206 | +18.4% |
| Financial charges | 65/66B | - | €44 | +€44 | |
| Recurring financial charges | 65 | - | €44 | +€44 | |
| Profit (loss) for the period before taxes | 9903 | -€1,117 | -€955 | +€162 | +14.5% |
| Profit (loss) for the period | 9904 | -€1,117 | -€955 | +€162 | +14.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,117 | -€955 | +€162 | +14.5% |
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 19 October 2026 via checked.be.