Kubsin: 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.
Kubsin
Largest movements
- Tangible fixed assets +€17,055
up €17,055 (+221%), from €7,723 to €24,778
of which Land and buildings: +€13,941
- Receivables within one year -€12,109
down €12,109 (-58.2%), from €20,790 to €8,682
of which Trade receivables: -€14,438
- Cash -€3,853
down €3,853 (-68.1%), from €5,657 to €1,804
mainly Investment in fixed assets (net) (-€19,973) and Trade debts (-€8,483)
- Intangible fixed assets -€543
down €543 (-69.8%), from €779 to €235
- Reserves +€10,158
up €10,158 (+78.1%), from €13,000 to €23,158
- Trade debts -€8,483
no longer reported in 2025 (was €8,483)
- Current portion of long-term debt +€5,660
new in 2025: €5,660
- Tax, wage and social debts -€4,131
down €4,131 (-49.7%), from €8,312 to €4,182
of which Taxes: -€5,781
- Profit (loss) carried forward -€2,654
no longer reported in 2025 (was €2,654)
- Depreciation +€1,929
up €1,929 (+126%), from €1,533 to €3,462
- Gross operating margin +€1,841
up €1,841 (+15.4%), from €11,991 to €13,833
- Financial charges +€719
up €719 (+356%), from €202 to €921
- Financial income -€649
down €649 (-100.0%), from €649 to €0
- Taxes -€539
down €539 (-21.7%), from €2,485 to €1,946
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 | €34,949 | €35,499 | +€550 | +1.6% |
| Fixed assets | 21/28 | €8,502 | €25,013 | +€16,511 | +194% |
| Intangible fixed assets | 21 | €779 | €235 | -€543 | -69.8% |
| Tangible fixed assets | 22/27 | €7,723 | €24,778 | +€17,055 | +221% |
| Land and buildings | 22 | €3,911 | €17,852 | +€13,941 | +356% |
| Plant, machinery and equipment | 23 | €475 | €339 | -€136 | -28.6% |
| Furniture and vehicles | 24 | €3,337 | €6,587 | +€3,249 | +97.4% |
| Current assets | 29/58 | €26,447 | €10,486 | -€15,961 | -60.4% |
| Amounts receivable within one year | 40/41 | €20,790 | €8,682 | -€12,109 | -58.2% |
| Trade receivables | 40 | €14,438 | - | -€14,438 | |
| Other amounts receivable | 41 | €6,352 | €8,682 | +€2,329 | +36.7% |
| Cash at bank and in hand | 54/58 | €5,657 | €1,804 | -€3,853 | -68.1% |
| Total equity and liabilities | 10/49 | €34,949 | €35,499 | +€550 | +1.6% |
| Equity | 10/15 | €18,154 | €25,658 | +€7,504 | +41.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €13,000 | €23,158 | +€10,158 | +78.1% |
| Distributable reserves | 133 | €13,000 | €23,158 | +€10,158 | +78.1% |
| Profit (loss) carried forward | 14 | €2,654 | - | -€2,654 | |
| Amounts payable | 17/49 | €16,795 | €9,841 | -€6,954 | -41.4% |
| Amounts payable within one year | 42/48 | €16,795 | €9,841 | -€6,954 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | - | €5,660 | +€5,660 | |
| Trade debts | 44 | €8,483 | - | -€8,483 | |
| Suppliers | 440/4 | €8,483 | - | -€8,483 | |
| Taxes, remuneration and social security | 45 | €8,312 | €4,182 | -€4,131 | -49.7% |
| Taxes | 450/3 | €8,312 | €2,532 | -€5,781 | -69.5% |
| Remuneration and social security | 454/9 | - | €1,650 | +€1,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,533 | €3,462 | +€1,929 | +126% |
| Other operating charges | 640/8 | €246 | - | -€246 | |
| Gross operating margin | 9900 | €11,991 | €13,833 | +€1,841 | +15.4% |
| Operating profit (loss) | 9901 | €10,213 | €10,371 | +€159 | +1.6% |
| Financial income | 75/76B | €649 | €0 | -€649 | -100.0% |
| Recurring financial income | 75 | €649 | €0 | -€649 | -100.0% |
| Financial charges | 65/66B | €202 | €921 | +€719 | +356% |
| Recurring financial charges | 65 | €202 | €921 | +€719 | +356% |
| Profit (loss) for the period before taxes | 9903 | €10,659 | €9,450 | -€1,209 | -11.3% |
| Income taxes | 67/77 | €2,485 | €1,946 | -€539 | -21.7% |
| Profit (loss) for the period | 9904 | €8,174 | €7,504 | -€670 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,174 | €7,504 | -€670 | -8.2% |
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 14 October 2026 via checked.be.