KUBUS: 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.
KUBUS
Largest movements
- Receivables within one year +€89,821
up €89,821 (+97.4%), from €92,213 to €182,034
of which Trade receivables: +€63,779
- Cash -€48,788
down €48,788 (-56.9%), from €85,755 to €36,967
mainly Receivables within one year (-€89,821) and Investment in fixed assets (net) (-€36,354)
- Tangible fixed assets +€12,524
up €12,524 (+3.6%), from €346,466 to €358,991
of which Furniture and vehicles: +€14,719
- Reserves +€71,417
up €71,417 (+79.1%), from €90,286 to €161,703
- Tax, wage and social debts +€32,385
up €32,385 (+104%), from €31,250 to €63,635
of which Taxes: +€33,968
- Debts after one year -€23,486
down €23,486 (-8.7%), from €270,652 to €247,167
- Other debts -€20,322
down €20,322 (-100%), from €20,322 to €0
- Accrued charges and deferred income -€11,646
down €11,646 (-100%), from €11,646 to €0
- Gross operating margin -€26,579
down €26,579 (-8.2%), from €324,485 to €297,906
- Staff costs -€16,150
down €16,150 (-9.8%), from €165,431 to €149,281
- Depreciation +€4,486
up €4,486 (+26.6%), from €16,843 to €21,329
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 | €570,895 | €626,584 | +€55,689 | +9.8% |
| Fixed assets | 21/28 | €383,466 | €398,491 | +€15,024 | +3.9% |
| Tangible fixed assets | 22/27 | €346,466 | €358,991 | +€12,524 | +3.6% |
| Land and buildings | 22 | €331,847 | €323,484 | -€8,364 | -2.5% |
| Plant, machinery and equipment | 23 | €1,464 | €7,634 | +€6,169 | +421% |
| Furniture and vehicles | 24 | €13,154 | €27,873 | +€14,719 | +112% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €37,000 | €39,500 | +€2,500 | +6.8% |
| Current assets | 29/58 | €187,429 | €228,094 | +€40,665 | +21.7% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €92,213 | €182,034 | +€89,821 | +97.4% |
| Trade receivables | 40 | €68,583 | €132,362 | +€63,779 | +93.0% |
| Other amounts receivable | 41 | €23,630 | €49,673 | +€26,042 | +110% |
| Cash at bank and in hand | 54/58 | €85,755 | €36,967 | -€48,788 | -56.9% |
| Deferred charges and accrued income | 490/1 | €9,462 | €9,092 | -€369 | -3.9% |
| Total equity and liabilities | 10/49 | €570,895 | €626,584 | +€55,689 | +9.8% |
| Equity | 10/15 | €108,886 | €180,303 | +€71,417 | +65.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,286 | €161,703 | +€71,417 | +79.1% |
| Distributable reserves | 133 | €90,286 | €161,703 | +€71,417 | +79.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €462,009 | €446,281 | -€15,728 | -3.4% |
| Amounts payable after more than one year | 17 | €270,652 | €247,167 | -€23,486 | -8.7% |
| Financial debts | 170/4 | €270,652 | €247,167 | -€23,486 | -8.7% |
| Amounts payable within one year | 42/48 | €179,711 | €199,115 | +€19,404 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €28,725 | €23,486 | -€5,240 | -18.2% |
| Financial debts | 43 | €4,298 | €9,926 | +€5,628 | +131% |
| Credit institutions | 430/8 | €4,298 | €9,926 | +€5,628 | +131% |
| Trade debts | 44 | €95,116 | €102,068 | +€6,953 | +7.3% |
| Suppliers | 440/4 | €95,116 | €102,068 | +€6,953 | +7.3% |
| Taxes, remuneration and social security | 45 | €31,250 | €63,635 | +€32,385 | +104% |
| Taxes | 450/3 | €9,892 | €43,860 | +€33,968 | +343% |
| Remuneration and social security | 454/9 | €21,358 | €19,775 | -€1,583 | -7.4% |
| Other amounts payable | 47/48 | €20,322 | €0 | -€20,322 | -100% |
| Accrued charges and deferred income | 492/3 | €11,646 | €0 | -€11,646 | -100% |
| Non-recurring operating income | 76A | €1,104 | €0 | -€1,104 | -100% |
| Remuneration, social security and pensions | 62 | €165,431 | €149,281 | -€16,150 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,843 | €21,329 | +€4,486 | +26.6% |
| Other operating charges | 640/8 | €2,832 | €2,763 | -€69 | -2.4% |
| Gross operating margin | 9900 | €324,485 | €297,906 | -€26,579 | -8.2% |
| Operating profit (loss) | 9901 | €139,379 | €124,533 | -€14,846 | -10.7% |
| Financial income | 75/76B | €102 | €300 | +€198 | +194% |
| Recurring financial income | 75 | €102 | €300 | +€198 | +194% |
| Financial charges | 65/66B | €20,452 | €22,294 | +€1,842 | +9.0% |
| Recurring financial charges | 65 | €20,452 | €22,294 | +€1,842 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €119,029 | €102,539 | -€16,490 | -13.9% |
| Income taxes | 67/77 | €32,051 | €31,121 | -€929 | -2.9% |
| Profit (loss) for the period | 9904 | €86,978 | €71,417 | -€15,561 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,978 | €71,417 | -€15,561 | -17.9% |
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 23 October 2026 via checked.be.